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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 »
Federal Reserve Says Bank of America (NYSE: BAC) Must Sell Some Operations
As part of Bank of America’s (NYSE: BAC) plan to repay its bailout funds under the Troubled Asset Relief Program, the Federal Reserve is requiring the Bank of America to decide which businesses it can sell to generate capital by... More of this article »
U.S. Peer-to-Peer Lending Firms Originate $9.2 Million in Loan Growth during November
The two largest peer-to-peer lending firms, Prosper and Lending Club, originated a total of $9.2 million in loans during the month of November. Out of the $9.2 million in peer-to-peer loans that these two companies Lending Club generated... 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 »
Lending Club Highlights Two Types of Investors
The peer-to-peer lending firm, Lending Club, recently highlighted two distinct classes of investment strategy that lenders are using on its platform during an online web-cast with its investors. Lending Club frequently has online webcasts... More of this article »
Treasury Prices Capital One (NYSE: COF) Warrants, Taxpayers To Make $146 Million On Deal
The U.S. Treasury Department announced Friday the Capital One (NYSE: COF) warrants it is auctioning off have been priced at $11.75 per issue. The warrants have received authorization to be listed on the New York Stock Exchange under... 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 »
Why Wells Fargo (NYSE: WFC) and Citibank (NYSE: C) Won’t Follow Bank of America’s (NYSE: BAC) Lead and Repaid its TARP Funds
Bank of America’s announcement to repay its TARP loans likely won’t be followed by other large-cap banks, including Citibank (NYSE: C) and Wells Fargo & Co (NYSE: WFC). Bank of America (NYSE: BAC) said on Wednesday that it... More of this article »
Jefferson County, AL Says $50 Million Settlement with JP Morgan Chase (NYSE: JPM) Won’t Be Enough to Avoid Municipal Bankruptcy
Jefferson County, Alabama, which has struggled to avoid municipal bankruptcy, said that a $50 million settlement with JP Morgan Chase & Co won’t be enough to cover its potential general fund liabilities. The troubled county may... More of this article »
Prosper Marketplace Hires Former Citibank (NYSE: C) Executive as New Chief Revenue Officer
Prosper Marketplace, a peer-to-peer lending firm, has announced that it has appointed Nick Talwar, the former head of Citibank (NYSE: C) Sweden, as its new Chief Revenue Officer. As Chief Revenue Officer, Talwar will be responsible... More of this article »
Will Wells Fargo (NYSE: FC), PNC Financial Service (NYSE: PNC) or Citigroup (NYSE: C) Be the Next to Repay TARP Funds after Bank of America (NYSE: BAC)?
Markets were pleased with Bank of America’s (NYSE: BAC) decision to repay its debt to the federal government under the Troubled Asset Relief Program and now analysts are wondering which bank will be the next institution to repay... More of this article »
Bank of America (NYSE: BAC) Announces Plans to Repay $45 Billion in Bailout Funds
Bank of America Corp. (NYSE: BAC), the largest bank in the United States in terms of assets, announced that it will repay the $45 billion of U.S. government bailout funds that it received as part of the Troubled Asset Relief Program... 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 »
UK Financial Services Authority Probing RBS (LON: RBS) over Compliance with Money-Laundering Rules
Britain’s regulatory agency that oversees financial markets is investigating a claim against some units of the Royal Bank of Scotland Group (LON: RBS) over compliance issues with certain money-laundering related allegations. The... More of this article »
Wells Fargo offering 4.15% 15-Year Fixed Mortgage Refinance Rates (NYSE: WFC)
Wells Fargo’s mortgage refinance rates have hit another all-time low. Currently borrowers are getting mortgage refinances at 4.15% for 15-year fixed-rate mortgages. 30-year fixed-rate mortgages are at 4.54%, which is just above its... More of this article »
Bank of America’s (NYSE: BAC) Refinance Rates Drop Even Further, Now at 4.55%
Bank of America’s (NYSE: BAC) refinance rates have continued to delve lower as the month of December begins. According to the most recent data, Bank of America’s 30 year refinance rate is currently at an all time low with an... 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 »
Treasury Department To Auction Off Capital One (NYSE: COF) Warrants, JP Morgan (NYSE: JPM) Warrants Likely Next
The U.S. Treasury Department announced Tuesday it plans to auction off 12.66 million warrants it holds for stock in Capital One Financial Corp (NYSE: COF). The credit card company received $3.55 billion in government bailout money... More of this article »
US Treasury Set to Auction Capital One Financial (NYSE: COF) Warrants
The United States Treasury announced on Tuesday plans to auction off 12.66 million warrants to buy stock in Capital One Financial (NYSE: COF). The auction, scheduled for Thursday (starting at 8:00am EST), is the first sale by the... More of this article »
Wells Fargo Analysts (NYSE: WFC) Predict Stocks Will Remain Flat in 2010
Wells Fargo Analysts (NYSE: WFC) predict that the S&P 500 will remain relatively flat during 2010. In a recent report, the banks analysts said that the S&P 500 will remain “fairly flat relative to current levels” throughout... More of this article »
Citigroup (NYSE: C) Faced 1,000 Angry Investors at Belgian Trial
Citigroup (NYSE: C) faced criminal charges and over 1,000 angry investors at a trial that began in Brussels on Tuesday, as a trial began which is questioning the way that Citigroup sold investments connect to Lehman Brothers in Belgium. Citibank... More of this article »
Obama Administration Putting Pressure on JP Morgan Chase (NYSE: JPM), Citigroup (NYSE: C) and Wells Fargo (NYSE: WFC) to Increase Home Modifications
The Obama administration is placing pressure on JP Morgan Chase (NYSE: JPM), Citigroup (NYSE: C) and Wells Fargo (NYSE: WFC) as part of an attempt to bring the government’s $75 billion Home Affordable Modification Program (HAMP)... More of this article »