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Citigroup (NYSE:C) Denies Being Hacked by Russians
Citigroup (NYSE:C) denied a report from the Wall Street Journal which stated they have been the victim of a cyber crime from Russian hackers, which resulted in the of millions of dollars for the company. Responding to the reports,... More of this article »
United States Banking Sector Ratings Lowered by Standard & Poor’s Ratings Services, Along with UK Banking
America and the UK have now joined the likes of Austria, Chile and Portugal as countries with banking rankings which place them in group 3, as Standard & Poor’s Ratings Services dropped them to an even lower level than their... More of this article »
New Bank of America (NYSE:BAC) CEO Brian Moynihan Says Execution Key to Turning Things Around at Banking Giant
Incoming Bank of America (NYSE:BAC) CEO Brian Moynihan says the key the the company turning things around and improving is to focus on execution. Moynihan was referring to execution in relationship to their consumer and business customers,... More of this article »
HSBC Holdings (LSE: HSBA.L) Listing on Shanghai Exchange with £5 Billion Share Offer
There is little doubt growth for banks is in the Asian markets, and to that end HSBC Holdings (LSE: HSBA.L) will soon be listed on the Shanghai stock exchange. To start off the bank will initiate a £5 billion share offer to investors... More of this article »
Washington Post Goes Hysterical as Ron Paul Tries to Drive Stake into Heart of Federal Reserve
It was enlightening to see the pathetic “editorial” in The Washington Post which attacked the idea the Federal Reserve needs to be reined in, and that an audit of the Fed, as proposed by an amendment introduced by Texas... More of this article »
Have French Made Fools of Britain and Alistair Darling?
Although the move by Britain’s Alistair Darling to tax up to 50 percent of banking bonuses have giving him and the Labour party a small but temporary boost, it increasingly looks like it could end up being a disaster over the... More of this article »
Bank of America Corp’s (NYSE:BAC) New CEO Brian Moynihan Not Looking to Shake Up Top Management
In a recent interview, Bank of America (NYSE:BAC) CEO designate Brian Moynihan stated he isn’t going to do any shuffling at the top of the banks leadership, and is looking to keep things in place at the company in that regard. This... More of this article »
FDIC’s Deposit Insurance Fund Takes Another $1.8 billion Hit With Seven More Bank Closings
With the seven banks seized in the U.S. Friday by regulators, it brought the total for the year to 140, and will cost an estimated $1.8 billion to the FDIC deposit insurance fund, which has been operating in the red already. The seven... More of this article »
JPMorgan (NYSE:JPM) Heads Equity Capital Market (ECM) Rankings, Generating $2.2 Billion in Fees
In good news for JPMorgan Chase (NYSE:JPM), they almost doubled their fees generated from equity capital market (ECM) underwriting, as the company enjoyed an estimated $2.2 billion in revenue from the business. Equity capital markets... More of this article »
When Will Citigroup (NYSE:C) Be Able to Remove Government Shackles?
It’s probably worse to have attempted the paying back of TARP funds and to have failed, than to not have tried at all, which is increasingly looking what Citigroup (NYSE:C) should have done. Trying to ride the skirts of Bank... More of this article »
HSBC Holdings (LSE: HSBA.L) Looking to Emerging Markets for Growth, Business in U.S. “Winding Down”
Mocked by shareholders in the pre-bubble years, HSBC Holdings’ (LSE: HSBA.L) group finance director Douglas Flint is now having the last laugh, as the huge bank performed magnificently while their competitive rabble around them... More of this article »
Treasury Department Can’t Afford to Sell Citigroup (NYSE:C) Shares
After announced plans to work with Citigroup Inc. (NYSE:C) to pay back the funds it received from taxpayers via the TARP program, the Treasury Department in a humiliating move had to back out of the deal to sell up to $5 billion of... More of this article »
Senate Banking Committee Confirms Bernanke for Second Term, Goes to Senate Floor for Full Vote
While it’s not certain Federal Reserve Chairman Ben Bernanke will be confirmed for a second term by the Senate, he has taken one more step toward that probably being the case, as the Senate Banking Committee voted 16-7 to give... More of this article »
Reinstating Glass-Steagall Act Receives Mixed Responses
It was probably inevitable that the Glass-Steagall Act would be revisited in response to the banking crisis, and Senators John McCain and Maria Cantwell have now brought the proposition forward, whereby commercial banking and investment... More of this article »
Credit Suisse (SIX: CSGN) Fined $536 Million for Violation of U.S. Sanctions Against Iran, Other Countries
It’s getting expensive to do business in the U.S. if it means you have to cater to its every whim in its interactions with the world. Credit Suisse (SIX: CSGN) is the latest to learn that lesson as they have agreed to pay a... More of this article »
Bank of America (NYSE:BAC) Names Brian Moynihan as New CEO
After a humiliating and failed attempt to draw a quality candidate from outside the company to run its troubled affairs, Bank of America (NYSE:BAC), as expected, after Bank of New York Mellon Corp Chief Executive Robert Kelly rejected... More of this article »
Indecision of Bank of America (NYSE:BAC) Board Key to Robert Kelly Withdrawing as CEO Candidate
The inability of the Bank of America (NYSE:BAC) to fully support CEO candidate for the firm, Robert Kelly, seems to be the major reason why Kelly withdrew his name from the pool of candidates for the position. Insiders said Kelly didn’t... More of this article »
FDIC Postpones Capital Requirements for Wells Fargo (NYSE:WFC), Citigroup Inc. (NYSE:C), Bank of America Corp. (NYSE:BAC) and JPMorgan Chase & Co. (NYSE:JPM)
Blaming former rules which allowed banks to effectively keep assets and liabilities off of their books and look stronger than they actually were, the Financial Accounting Standards Board changed that to where billions of assets and... More of this article »
Schizophrenic Obama Administration Continues to Send Mixed Messages to Banking Industry
Obama doesn’t seem to have the ability to comprehend, not only how indecisive he is, but also the intellect to grasp the issues in relationship to the banking industry so he can understand and communicate a message that makes... More of this article »
Obama Panicking as Jobless ‘Recovery’ Fails to Materialize – Now Begs Bankers to Bail Him Out
In what appears to be a very disingenuous and pathetic assertion by Barack Obama, the banks of America now are obligated to facilitate economic growth because the government came to their aid, and the economic crisis was “largely... More of this article »
Royal Bank of Scotland (LSE: RBS.L) Receiving Government Funds While Defending Bonus Culture
Although it’s reported that the Royal Bank of Scotland (LSE: RBS.L) is turning to the government trough to receive bailout funds, they are at the same time trying to temper that decision with pressing to be left alone concerning... More of this article »
Wells Fargo (NYSE:WFC) Secures Deal to Pay Back $25 Billion in TARP Funds
Wells Fargo (NYSE:WFC) announced it has made a deal with the government to pay back all of the $25 billion in TARP funds it received from taxpayers. Although it has resisted doing so, Wells Fargo announced they would offer a $10.4... More of this article »
Morgan Stanley (NYSE:MS) Asia Chairman Stephen Roach Says Federal
At a recent conference in Berlin, Morgan Stanley (NYSE:MS) Asia Chairman Stephen Roach said that the Federal Reserve is the “weak link” among central banks, and they could create another financial crisis, beyond the one... More of this article »