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Wachovia says it will press ahead with Wells Deal
"Wachovia says it will press ahead with Wells deal"" NEW YORK (AP) -- Wachovia Corp., at the center of a fight between Wells Fargo & Co. and Citigroup Inc. over who will buy the beleaugered bank, is...Wells Fargo Buys Wachovia for $15.1 Billion
Though previously reported to be in buyout talks with CitiGroup, Wachovia Bank will be purchased by Wells Fargo & Co. without bailout assistance from the FDIC. Wachovia's website confirms the deal in a press release."The Wells Fargo offer is for $7 a share in stock, based...
created by Jordan Yerman | 4 years ago | updated 4 years ago
118 views | 0 recommendations | 0 comments
118 views | 0 recommendations | 0 comments
Stocks Fall in Asia after US Bailout Failure
Japan's Nikkei stock index fell almost 5% today in early trading, just hours after the US House of Representatives voted down the $700 billion Wall Street bailout plan and the DJI fell a record-breaking 777 points."It came after a day of turmoil in the US and Europe, with...
created by Terri Potratz | 4 years ago | updated 4 years ago
197 views | 26 recommendations | 10 comments
197 views | 26 recommendations | 10 comments
Citigroup to buy Wachovia banking operations
"Citigroup to buy Wachovia banking operations"" NEW YORK - In the latest byproduct of the widening global financial crisis, Citigroup Inc. will acquire the banking...The Case Of The “Disappeared” Minority Subprime Borrower
Minorities, the target of Subprime Loans, are now the major losers. A disaster that effects us all. See the report: "Foreclosed: State of the Dream 2008 – examines the racial bias of the subprime mortgage lending crisis, and the resulting huge wealth loss to people of color...it's like when justin left...
"today, as the turmoil continues in the financial sector, we learn about another end--the end of morgan stanley and goldman sachs as independent investment banks. late last night as the writing on the wall became glow in the dark, the firms voluntarily agreed to become bank... Why Didn't the Feds Bail-out Enron? Citigroup= Enron=911
The International Institute of Nonviolence News&Opinion By: Rev. Jermano Interesting set of events going on with the Bush Feds throwing life lines out to collapsed banks as if fish on a stringer....Yet I guess... Smith Barney site down Thursday
SmithBarney.com, a division of Citigroup Global Capital Markets Inc., crashed on Thursday during one of the busiest trading weeks ever. Customers were told to use something called a tele-phone to make transactions when their Smith Barney logins didn't work. During the down...
created by Jason Sanders | 4 years ago | updated 4 years ago
593 views | 0 recommendations | 0 comments
593 views | 0 recommendations | 0 comments
Wall Street's Post Mortem of the Credit Meltdown
If you have a spare day or two here is the link to their 172-page report dissecting what went wrong and the changes they need to make to prevent a similar crisis in the future. "“Virtually everybody was frankly slow in recognizing that we were on the cusp of a really... German Citibank sold to French Credit Mutuel for $ 7.7 Billion
"Regional French bank Credit Mutuel said on Friday that it will pay €4.9 billion ($7.7 billion) to buy the German business of US banking giant Citigroup, hard hit by the global financial crisis.Credit Mutuel,...
created by phoenixesrose | 4 years ago | updated 4 years ago
1055 views | 0 recommendations | 0 comments
1055 views | 0 recommendations | 0 comments
Hillary's Housing Fix in a New York Nutshell
A raw March morning in Albany. The wind whistled round the Empire State Asylum for the Politically Insane. Dr. Edwards, the new chief of staff, was making his first tour of the facility. Dr. Murchison, his predecessor, was acting as guide. First up, the day room....
created by cvhoffmannstahl | 5 years ago | updated 5 years ago
316 views | 0 recommendations | 0 comments
316 views | 0 recommendations | 0 comments
House Panel Questions High Pay for CEOs
Like the oil company profits last year, it's another situation of individuals making a lot of money in sectors experiencing trouble."The heads of three companies implicated in the mortgage crisis have been asked to explain how they collectively received hundreds of millions...
created by Dave Keating | 5 years ago | updated 5 years ago
397 views | 0 recommendations | 0 comments
397 views | 0 recommendations | 0 comments
Is Citigroup Solvent?
There are some very disturbing questions bouncing around today about whether Citigroup could go belly up."Citigroup, which has incurred $22.1 billion in losses from the subprime crisis, has $320 billion in... Citi loses almost $10B, slashes dividend
Even with the endless services charges Citibank still managed to break the record books. "NEW YORK - Citigroup Inc. lost almost $10 billion in last year's final three months, the largest quarterly deficit in... CNBC's Gasparino: Citigroup Writedown Could be $24B
"Charlie Gasparino reported on CNBC that sources inside the firm have told him the Citigroup write downs could be $24 billion when earnings are announced next Tuesday. Usually I wouldn't post every discussion of possible future write downs, but these whisper numbers are...Top Members Today
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