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Wells Fargo (NYSE:WFC) Looking to Investment Banking Unit for Growth
With a lot of past revenue and profits being dried up through new government regulations, major banks are looking for other sources of revenue, and with Wells Fargo (NYSE:WFC), like many other major banks, investment banking could... More of this article »
Bank of America (NYSE:BAC), Citibank (NYSE:C) and J.P. Morgan (NYSE:JPM) Looked to as Lending Plunges at Banks
As reports come in that bank lending is at its lowest levels in decades, the major banks like Bank of America (NYSE:BAC), Citibank (NYSE:C) and J.P. Morgan (NYSE:JPM) are being pressured to take up some of the slack left from struggling... More of this article »
J.P. Morgan (NYSE:JPM) Says Increased Regulation Could Crush Revenue in 2010
As lawmakers continue to interfere with the market and banks, it is becoming increasingly clear that large financial institutions like J.P. Morgan (NYSE:JPM) and its shareholders will suffer revenue and profit declines as a consequence... More of this article »
Bank of America (NYSE:BAC) Finally Gets Approval for SEC Settlement
U.S. District Judge Jed S. Rakoff has been unusually antagonistic toward Bank of America (NYSE:BAC) in their attempt to settle a lawsuit from the Securities and Exchange Commission (SEC) over allegedly not fully disclosing bonuses... More of this article »
Rising Bank Failures Bad Sign for Bank of America (NYSE:BAC), Citigroup (NYSE:C) and Wells Fargo (NYSE:WFC)?
The news keeps getting worse for the banking industry, as recent data released show that it isn’t just the expected commercial loans that are faltering, but the number of foreclosures are finally being reported in a way that... More of this article »
George Soros and John Paulson Invest Heavily in Citigroup (NYSE:C) – Does That Signal a Recovery?
Major hedge fund managers George Soros and John Paulson recently revealed in required filings with the Securities and Exchange Commission that they’ve invested heavily via their funds in Citigroup (NYSE:C) during the fourth quarter... More of this article »
JPMorgan Chase & Co (NYSE:JPM) Report on Potential Regulatory Costs Reveals Unintended Consequences of Government Interference
When J.P. Morgan (NYSE:JPM) revealed in its research not recently that it could cost up to $221 billion for banks to comply with the regulations being offered as solutions to the industry, it removed the veil off of the usual unintended... More of this article »
Bank of America (NYSE:BAC), Citibank (NYSE:C), Wells Fargo (NYSE:WFC) Continue to Hold Back on Lending
One wise way to see how the state of things really are in almost any area of life is to not only listen to what is being said, but look what is being done. In the case of lending by big banks like Bank of America (NYSE:BAC), Citibank... More of this article »
Bank of America (NYSE:BAC) Claims Four Times the Number of Permanent, Modified Mortgages
Bank of America (NYSE:BAC) says it has now increased the number of permanent modified mortgages under the Home Affordable Modification Program (HAMP) to the tune of four times the number from the month before, now totaling a combined... More of this article »
J.P. Morgan (NYSE:JPM) to Announce Acquisition of Energy Business From RBS Sempra
J.P. Morgan (NYSE:JPM) could announce as early as today that they had come to an agreement to acquire some of the energy assets owned by Royal Bank of Scotland and Sempra Energy. Details of which parts of the energy business will be... More of this article »
Why Are We Even Talking about ‘Volcker Rule’ and Goldman Sachs (NYSE:GS) and More?
In what looks like a last ditch effort to bring the dead ‘Volcker Rule’ back to life, the government keeps parading out the former Federal Reserve chairman in attempts to keep it as part of the conversation, the most recent time... More of this article »
Goldman Sachs (NYSE:GS) Has Contrary View on Federal Reserve Priorities
There are two major priorities the Federal Reserve is facing, and how they enact deal with them will have a lot of impact on business and consumers. Goldman Sachs (NYSE:GS) has the view that the Fed will increase interest rates rather... More of this article »
Obama Unconvincing in Finding New Banking Bonus Religion – Doesn’t “Begrudge” Banking Compensation
As usual Barack Obama misread the mood of the public and his constant hammering of banking pay ended up backfiring, as people got fatigued from it all and the business community in general started to see Obama’s anti-business... More of this article »
Did Goldman Sachs (NYSE:GS) Help Greece Cook its Books?
An article in Der Spiegel asserts Goldman Sachs (NYSE:GS) helped Greece cover up the true depth of its debt situation through creative use of cross currency swaps which allowed Greece to be in much deeper debt than allowed under what... More of this article »
Will Bank of America (NYSE:BAC) CEO Ken Lewis Be the One to Take Down Ben Bernanke and Hank Paulson?
So far with the economic and banking fiasco in America, Ben Bernanke and Hank Paulson haven’t given much more than a slap on the wrist, while Bernanke was voted on to continue with his policies at the Federal Reserve which have... More of this article »
Goldman Sachs (NYSE:GS) CEO Lloyd Blankfein Lands $9 Million Bonus for 2009
The Times of London is looking completely incompetent in the wake of the revelation that Goldman Sachs (NYSE:GS) CEO Lloyd Blankfein received a 2009 bonus of only $9 Million after leading the company to record profits. The Times asserted... More of this article »
New York Attorney General Andrew Cuomo Files Securities Fraud Lawsuit Against Former Bank of America (NYSE:BAC) CEO Ken Lewis and CFO Joe Price
In a charges that many are scratching their heads about, New York Attorney General Andrew Cuomo, who seems to be positioning himself for moving up in politics, filed securities fraud charges against former Bank of America CEO Ken Lewis... More of this article »
Volcker Plan Appears Dead as Volcker Stumbles Under Questioning
In what I have considered a waste of time from the beginning with no chance of ever becoming law, the so-called Volcker Plan appears dead after questioning Senate Banking Committee found Volcker unable to answer key questions which... More of this article »
Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM), Citigroup (NYSE:C) and Wells Fargo (NYSE:WFC) Would be Devastated by Volcker Plan
I’m not sure why we’re even wasting our time with Paul Volcker and the so-called Volcker Plan, as there’s no way it’ll have a chance to become law, as it would devastate Bank of America (NYSE:BAC), JPMorgan... More of this article »
Standard & Poor’s Says UK Banking System Sucks
Standard & Poor’s released a report named ‘Banking Industry Country Risk Assessment: United Kingdom,’ where they stated “We no longer classify the United Kingdom among the most stable and low-risk banking... More of this article »
Goldman Sachs (NYSE:GS) May Sell Off US Banking Business as Obama Continues War on Wall Street
Rumor has it that Goldman Sachs (NYSE:GS) may be thinking of taking steps to sell or spin off it banking business in the United States as Obama continues to cater to populist feelings and ravage the banking industry, as little else... More of this article »
Shareholders File Lawsuit Against Wells Fargo (NYSE:WFC) Over SILO Tax Shelters
Executives at Wells Fargo (NYSE:WFC) had a shareholder lawsuit filed against them in reference to “SILO” tax shelters. It wasn’t clear at the time of this writing who these shareholders were, but they were represented... More of this article »
JP Morgan Chase & Co. (NYSE: JPM) and Bank of America (NYSE: BAC) Plummet on Obama Bank Interference
Shares for JP Morgan Chase & Co. (NYSE: JPM) and Bank of America (NYSE: BAC) plunged on Friday on the news of more interference in the financial industry from the Obama administration, with Bank of America falling 57 cent to $14.90,... More of this article »