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Goldman Sachs (NYSE:GS) Claims Didn’t Need Government Bailout
Goldman Sachs (NYSE:GS) CEO Lloyd Blankfein said in an online Vanity Fair article recently that the company didn’t need a government bailout, and would have survived without it. President of Goldman Sachs, Gary Cohn, said it... More of this article »
Major Belgium Lawsuit Against Citibank (NYSE:C) Started Friday
In the largest Belgium lawsuit in relationship to the financial banking crisis, 4,000 Belgium customers of Citibank (NYSE:C) have begun their attempt at recouping their savings after losing everything in where the prosecution says... More of this article »
Ben Bernanke Lectures Gordon Brown and Britain in Hopes of Maintaining Status Quo at Federal Reserve
Ben Bernanke is looking more anemic and pathetic every day that goes by, as now the disastrous Chairman of the Federal Reserve, in an attempt to shore up his position at the Federal Reserve, and the Federal Reserve itself, is using... More of this article »
Analysts: Wells Fargo (NYSE:WFC) Would Need to Raise $34 billion to Match Bank of America’s (NYSE:BAC) Capital Ratios
Analysts at Keefe, Bruyette & Woods said on Thursday that in order for Wells Fargo (NYSE:WFC) to maintain capital ratios of 8.5 percent as Bank of America (NYSE:BAC) will, they would have to raise up to $34 billion to do it in... More of this article »
FDIC Chairman Sheila Bair May Give Citigroup Inc. (NYSE:C) and J.P. Morgan Chase (NYSE:JPM) Break On Higher Capital Rules
With billions of dollars poised to be transferred to the balance sheets of banks, Federal Deposit Insurance Corp. Chairman Sheila Bair stated she is looking at easing the migration of securities to the balance sheets of banks like... More of this article »
Kentucky Senator Jim Bunning Slams Ben Bernanke at Senate Banking Committee Hearings
Former major league baseball player and hall of famer Jim Bunning, Senator from Kentucky, put Federal Reserve Chairman Ben Bernanke’s feet on the hot coals today, as he laid into him for his performance in his first four-years... More of this article »
U.S. Senator Jim DeMint Will Hold Bernanke Nomination Until Senate Votes on Auditing the Federal Reserve
Things were definitely not boring at the confirmation hearing of beleaguered Federal Reserve Chairman Ben Bernanke today, where he stood before the Senate Banking Committee to decide on whether he would be awarded a second four-year... More of this article »
Bank of America (NYSE:BAC) Reaches Agreement to Pay Back $45 Billion in TARP Funds to U.S. Government
Evidently remaining true to his stated goal of paying back TARP funds before he retired at the end of 2009, Ken Lewis and Bank of America (NYSE:BAC) announced they’ve reached an agreement with the government to pay back the $45... More of this article »
Institutional Shareholders of Royal Bank of Scotland (LON: RBS) Ready to Battle British Treasury Over Bank Bonuses
After taking control of the bonus pool of the Royal Bank of Scotland (RBS.L), a battle is shaping up between the British Treasury and institutional shareholders in the bank over the effects that could have on the company and its ability... More of this article »
Defaults on US Commercial Property Loans Surging as Expected
Recent reports from a couple of research firms confirm that defaults on US commercial property loans are surging, standing at the worst level in 16 years. The reports also confirm it is going to get much worse going forward into 2010... More of this article »
Bank of America (NYSE:BAC), Citibank (NYSE:C), Wells Fargo (NYSE:WFC) and J.P. Morgan Chase (NYSE:JPM) Meeting with Obama Administration on Permanent Loan Modifications
Under the threat of being fined, Bank of America (NYSE:BAC), Citibank (NYSE:C), Wells Fargo (NYSE:WFC) and J.P. Morgan Chase (NYSE:JPM), among others, will meet with officials from the Obama administration next week concerning moving... More of this article »
J.P. Morgan (NYSE:JPM) Says Build America Bond Sales Could Swell by 40% in 2010
Looking for ways to raise money the least expensively, Build America Bonds have become a popular way to raise capital, and according to J.P. Morgan (NYSE:JPM), could increase by 40 percent in 2010, which would bring the total for the... More of this article »
Former Fed Governor Frederic Mishkin Says the Federal Reserve Being Held Accountable for its Actions is “Incredibly Dangerous”
Didn’t he say it that way? Actually, yes he did, just using different words. In a Bloomberg Radio interview, Mishkin stated: “It is remarkable the kind of attacks that are occurring on Fed independence.” Think of that in... More of this article »
J.P. Morgan Chase & Co (NYSE:JPM) and Washington Mutual Fighting for Ownership of $7 Billion
The saga of the failure of the largest bank in U.S. history, Washington Mutual, continues on, as the latest focus is on who owns $7 billion; JP Morgan Chase (NYSE:JPM) or Washington Mutual Inc., the holding company of WaMu. Both companies... More of this article »
Britain, HSBC Holdings (NYSE: HBC), Citigroup (NYSE:C) at Risk in Dubai Debt Crisis
Although they’re not anywhere near at risk as their British counterparts, Citigroup Inc. (NYSE:C) has the most exposure of an U.S. bank to the Dubai debt crisis, having lent $1.9 billion to the United Arab Emirates. Overall,... More of this article »
HSBC (NYSE: HBC) Puts Focus Back on Asia for Growth
Although it has had a competitive advantage over its rivals in Asia, especially China, HSBC (NYSE: HBC) has been slow to take advantage of that and instead has focused on Europe and the United States for growth, to the detriment of... More of this article »
Senator Bernie Sanders To Vote Against Renomination of Ben Bernanke
Saying the Ben Bernanke is “part of the problem,” Senator Bernie Sanders said on Sunday that he will definitely vote against nominating Bernanke for a second term as Chairman of the Federal Reserve. The Federal Reserve,... More of this article »
Ben Bernanke Fears Ron Paul’s Audit Above All Else
In a recent and unusual action, Federal Reserve Chairman Ben Bernanke wrote a column in a newspaper, in this case the online version of the Washington Post, which attempted to undermine the legislation initiated by Ron Paul to at minimum... More of this article »
New Rules Pass Regulating Conflict of Interest for Regional Federal Reserve Board of Directors
New rules were put into place to better handle conflicts of interest in regard to the board of directors of the 12 regional Federal Reserve banks. The new rules were put into immediate effect. Much of this impetus behind the rules... More of this article »
Bank of America Corp (NYSE:BAC) Requests Dismissal of Investor Class-action Lawsuit
Bank of America Corp (NYSE:BAC) seeks the dismissal of a class-action lawsuit filed by investors against the nations’ largest bank as measured by assets, saying there was nothing to the alleged hiding of data concerning the losses... More of this article »
Federal Reserve Wants Bank of America (NYSE:BAC), Wells Fargo (NSYE:WFC), Citigroup (NYSE:C) to Submit TARP Repayment Plans
It seems the Federal Reserve has had mounting pressure to pressure banks like Bank of America (NYSE:BAC), Wells Fargo (NSYE:WFC), Citigroup (NYSE:C) to submit repayment plans concerning the TARP funds they received. Along with the... More of this article »
FDIC Problem Bank List Surges to 552
In a report from the FDIC that the Deposit Insurance Fund has been operating in the red since the third quarter, down by $8.2 billion, there was other bad news, as the number of banks on the problem list of the FDIC has now risen to... More of this article »
Federal Reserve Wants Bank of America (NYSE:BAC), Wells Fargo (NSYE:WFC), Citigroup (NYSE:C) to Submit TARP Repayment Plans
It seems the Federal Reserve has had mounting pressure to push banks like Bank of America (NYSE:BAC), Wells Fargo (NSYE:WFC), Citigroup (NYSE:C) to submit repayment plans concerning the TARP funds they received. Along with the three... More of this article »