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HSBC Holdings (NYSE:HBC): The rise of the East and Demise of the West
There’s no doubt the move last month by HSBC Holdings (NYSE:HBC) to embed their CEO in Hong Kong, moving him from the London office, speaks volumes as to where they see their future growth, and it’s definitely Asia. In... More of this article »
Goldman Sachs (NYSE:GS): Huge Banks Undervalued
Goldman Sachs (NYSE:GS) increased its rating on a number a large banks based on the premise that current stock prices aren’t reflecting the real earnings power the huge banks have. While Goldman has already had conviction buy... More of this article »
Support for Ron Paul’s Audit of the Federal Reserve Grows: Over 300 Co-sponsors Now on Board
Understanding that the highly secretive Federal Reserve has had a major role in undermining the value of the U.S. dollar, and unregulated and unaccountable non-government agency had pretty much done whatever it has wanted almost since... More of this article »
Three More Banks Fail – Bringing Bank Failures to 98 So Far This Year
Three more banks were seized by banking regulators, bringing the number to 98 so far this year. Banks in Minnesota, Michigan and Colorado were the latest casualties. In Minnesota, Jennings State Bank, a family-owned bank in Spring... More of this article »
Editorial: Everyone Needs a Strong U.S. Dollar? – Too Late!
Listening to the financial leaders of the Group of Seven as they head to Istanbul for talks saying there is a need for a strong U.S. dollar, is ludicrous in the face of the practices of the central banks across the globe, and specifically... More of this article »
Editorial: Bernanke Caves on Obama’s Provision of Adding More Power to the Fed – Is it Real or a Ploy?
Growing pressure on the beleaguered Federal Reserve has Federal Reserve Chairman Ben Bernanke backpedaling on his original desire to see the Federal Reserve invested with even more power concerning oversight of “systemic risk.” Even... More of this article »
Citibank Declares 30-Day Payment Holiday to Philippine Customers
For the first time since it has had a presence in the Philipines, Citibank (NYSE:C) has declared a 30-day payment holiday for it Citibank Savings personal loan borrowers, as well as those holding credit cards with the bank who live... More of this article »
The FDIC is Out of Money – Now What?
Now that the FDIC has effectively admitted they’ve run out of money in the Deposit Insurance Fund, what does that mean to for the banking system in the U.S., and the consumers and businesses using them? First we have to understand... More of this article »
Destroyed Phone Coversations Prompt New Calls for Further Investigation into Countrywide’s VIP Loan Scandal
Although Democrat Senators Chris Dodd and Kent Conrad were cleared of violating any gift rule for accepting loan discounts in Countrywide’s VIP loan program, they were admonished at the time for being lax in how they handled the... More of this article »
JPMorgan Chase (NYSE:JPM) Tops in Debt and Equity Underwriting Fees
Although mergers and acquisitions have plunged in the third quarter, which has resulted in the decline in banking fees, one bright spot for JPMorgan Chase (NYSE:JPM) & Co has been the success in raising capital for debt and equity,... More of this article »
Freddie Mac (NYSE:FRE) Offers New CFO Huge Pay Package
Now that Freddie Mac (NYSE:FRE) has offered a huge pay package to incoming CFO Ross Kari, where he could end up making about $3.5 million while also getting a signing bonus close to $2 million, lawmakers can drop the faux outrage over... More of this article »
Testimony from Federal Reserve Lawyer Scott Alvarez: Another Reason to Rein in the Federal Reserve
In what I consider an astounding and clear admission from the General Counsel of the Federal Reserve, Scott Alvarez, he admitted if the ongoing push to audit the Federal Reserve becomes a reality, “Foreign central banks and governments... More of this article »
Federal Reserve Spending Another $556 billion in Mortgage Market
Although the acquisition of mortgage-backed securities was scheduled to end in December 2009, the Federal Reserve has decided to continue acquiring the securities, with plans to pump another $556 billion into them by April 2010. Since... More of this article »
Is Goldman Sachs’ (NYSE:GS) Lloyd Blankfein Heeding His Own Words on Compensation?
Maybe Goldman Sachs (NYSE:GS) CEO Lloyd Blankfein needs to check in with his CFO once in a while to see what’s happening at the compensation level of the company, as he’s going to have some explaining to do after taking... More of this article »
Editorial: Overdraft Fees – Will We All Have to Pay for the Irresponsible Few?
The practice of a minority of people who continually trigger overdraft fees could result in bank customers across America having to pay for currently free services like checking accounts. While some in the media have been making a... More of this article »
American Bankers Association: More Bank Customers Prefer Doing Business Online for First Time
For the first time in banking history, more bank customer prefer doing their business online than any other way, according to an American Bankers Association survey, with 25 percent of bank customers engaging in the practice. The use... More of this article »
Sarah Palin: “Government Cause of Financial Crisis”
Sarah Palin went on the economic offensive in a speech in Hong Kong, where she spoke to a group of executives and bankers about her take on the causes behind the economic turmoil across the globe, blaming the excesses of the government... More of this article »
Peter Schiff Blasts Chris Dodd and His Plan to Create Super Regulatory Agency
It hasn’t taken long for Peter Schiff, who recently announced he’s running against Chris Dodd and others for his Connecticut Senate seat, to attack Dodd over his recent proposal to create a super regulatory agency by combining... More of this article »
Editorial: Economic Insanity – FDIC May Borrow From Healthy Banks to Prop Up More Zombie Banks
The news concerning banking regulators in the U.S., along with some of the bankers and their lobbyists, isn’t good, as now the idea is being thrown around by the FDIC to tap the healthy banks in the industry to shore up the Deposit... More of this article »
Bank of America Corp. (NYSE: BAC) and HSBC Holdings (NYSE: HCS) Added to Case Against Obama Fundraiser Hassan Nemazee
The original arrest of Barack Obama’s and Hillary Clinton’s leading fundraiser Hassan Nemazee was for allegedly defrauding Citigroup Inc. (NYSE: C) of $75 million. In the grand jury indictment, Bank of America Corp. (NYSE:... More of this article »
Citibank (NYSE:C) in Deal with Virgin Money to Expand Market Share in Australia
In a move that directly aims at the four major banks in Australia, Citibank (NYSE:C) has signed a deal with Richard Branson’s Virgin Money to offer products and services of new credit cards, mortgages and retail deposit accounts. Virgin... More of this article »
Editorial: Federal Reserve Out of Control – Rejects Another Public Review
The more the Federal Reserve digs in and resists or rejects all attempts at reviews, the more damning the idea becomes that they have something to hide. This time they rejected a request from Treasury Secretary Timothy Geithner for... More of this article »
Will New Song Title Be – I Left My ‘Home’ In San Francisco?
It won’t be long before Alt-A loans – which are ARMs or adjustable rate mortgage loans – will begin to come due, and one of the most vulnerable locations in the country will be San Francisco, and a couple of other... More of this article »