Truemors
President Obama to Hold Banking Summit Monday
" Click to enlarge. President Barack Obama plans to hold a Banking Summit Monday, according to a Bloomberg report today. Among those participating in the event, said to be a forum for discussing the president’s proposals to boost small-business lending and overhaul... 
Bank Foreclosure Prevention Program by Citi Up by 20 Percent
The bank foreclosure prevention program of CitiMortgage has been improving significantly. CEO Sanjiv Das also said that the bank has started implementing principal reduction for some deserving borrowers. " The bank...
Hassan Nemazee CEO of Nemazee Captial Arrested: CitiGroup Fraud
The Department of Justice has charged Hassan Nemazee, the CEO of Nemazee Capital Corp., for attempting to defraud CitiGroup of $74 million. Hassan Nemazee was stopped by federal agents on Sunday before boarding a plane to Rome. The $74 million loan was secured with forged...
Norway Towns Sue Citi Over Losses
Seven Norwegian municipalities are suing Citigroup Inc after losing millions of US dollars on investments. The towns are seeking $200 million in damages together with Norwegian firm Terra Securites. Terra bought the structured notes from Citigroup in May and June 2007, and...
Dan Sontag Leaves Merrill Lynch after 30 Years
Dan Sontag will leave Merrill Lynch and Bank of America Corp, after 30 years with the company. This announcement comes one day after the bank hired Sallie Krawcheck, a former Citigroup Inc wealth management executive, but Sontag will stay on for a short time to work with...
Citigroup Joins AIG in Paying Bailout Bonuses to Top Executives
Citigroup joined AIG in the "you have to be kidding me" hall of fame when it announced that it would be paying big bonuses to top executives for the 2008 fiscal year. Despite rules restricting bonus payments in bailout funded financial institutions Citigroup has said it... 
Citigroup Seeks Reverse Stock Split
Us banking corporation Citigroup, having sucked up $45 billion in bailout money, is considering a reverse stock split, which would give the US government a 36% stake in the financial giant. A reverse stock split is a...
Will Allowing Banks to Fail Reduce Foreclosure Homes?
Allow banks to fail. That is what Republican Senators Richard Shelby of Alabama and John McCain of Arizona suggested even if it means shareholders will also suffer as a consequence. " Allowing some big troubled banks to close and funneling the relief funds to the housing...Citigroup Homeowner Unemployment Assist to Help Mortgage Holders
Citigroup has gone back to the US Treasury asking for more taxpayer funded bailout money so it is about time the company gave something back to the people. Citigroup announced today that some mortgage holders...
Citigroup Preferred Stock Conversion Key to New US Treasury Deal
The Treasury Department has reached a tentative deal with Citigroup that may help the struggling financial company stay in business. The US Treasury has agreed to substantially increase its ownership in... US Taxpayers May Soon Own 40% of Citigroup, No Nationalization
While panic still ravages the market under fears that Washington will nationalize the US banking system the government announced today that it could buy up to 40% of Citigroup's common shares to keep the bank in business. With a 40% interest in Citigroup US... 
What happens when the ad industry becomes nationalized?
Ad Age is asking some interesting questions about the impact of the various bail outs currently supporting major portions of the US economy. "BATAVIA, Ohio (AdAge.com) -- In the marketing and media industries, it's... 
No, Please .... Don't Call It a Bonus! It's a 'Retention Award'!
While CEOs of eight banks sat before Congress on February 11, 2009, one of the CEOs there from Morgan Stanley, attempting to justify their questionable actions after having received Troubled Asset Relief Program... 
created by Karen Hatter | 43 wks ago | updated 43 wks ago
681 views | 78 recommendations | 13 comments
681 views | 78 recommendations | 13 comments
