too big to fail
Why All of Us May Have to Pay for B of A's $5 Debit Card Fee
11:30AM 10/05/2011
Goldman Sachs , Bank of America, Citigroup, Wells Fargo & Co, Banking
Last week, Bank of America ignited a firestorm of controversy by choosing to charge its customers $5 a month to use their debit cards. Now, an angry consumer group has called for a federal investigation. Is this overkill or a smart response to what could be a budding disaster for the bank -- and taxpayers?
At Last, Citigroup Starts to Pull Through
11:30AM 7/15/2011
Company News, Investing, Earnings, JP Morgan Chase, Goldman Sachs , Citigroup, Stocks in the News, Investment, Banking
It took a while -- three years, really -- but Citigroup, by far the weakest of the big banks coming out of the recession, is starting to pull through. After this morning's second-quarter earnings report of $3.3 billion, or $1.09 per share, investors have several things to rejoice over.
Citi Shuts Another Prop Trading Group as Volcker Rule Looms
6:30AM 6/07/2011
Company News, Economy, Investing, Stock Picks, Citigroup, Credit, Stocks in the News, Market News
Citigroup is closing another one of its proprietary trading groups as it and other banks prepare to comply with the Volcker Rule, which will reduce the exposure of lenders to risky trading activities. What the move will mean for financial giant's profit margins, and its stock price.
Given the level of public outrage over the government's rescue of banks during the financial crisis, the final cost to the taxpayer of keeping those failed institutions afloat turns out to have been relatively modest: The FDIC has paid out a mere $8.89 billion to 165 banks since the crisis began.
UBS, Credit Suisse Face Tougher Swiss Capital Rules
9:05AM 10/04/2010
UBS and Credit Suisse Group will have to almost double their capital holdings because Switzerland has set out to further tighten the reins on its megabanks, requiring them to hold capital well in excess of the new Basel III rules.
Two Years After Lehman, Is the Financial System Safe -- or Just Safer?
11:30AM 9/15/2010
Economy, Goldman Sachs , Morgan Stanley , Citigroup, Insurance
Since Lehman's collapse in September 2008, regulators around the world have begun erecting a scaffolding of new rules and regulations designed limit excessive risk-taking. The big question is: Are they enough to prevent another financial crisis?
Andrew Ross Sorkin on Lehman, the Crisis and How Pride Led to the Fall
11:00AM 9/13/2010
Economy, People, Investing, JP Morgan Chase, Citigroup, Credit
"It felt like the world was on fire," recalls financial writer Andrew Ross Sorkin, whose book Too Big To Fail covers the crisis at its peak. In an interview, he discusses the meltdown, its aftermath, the quest for power on Wall Street and why more regulation is still needed.
Will Bank Profits Get Clipped From Credit Rating Downgrades?
6:30AM 7/29/2010
Company News, Economy, Investing, IBM, Fifth Third Bancorp, Bank of America, Citigroup, Wells Fargo & Co, Credit, Stocks in the News
Moody's is reviewing 10 large regional banks for possible downgrades because it thinks financial reform means total government support is now less likely. That's setting off a debate about whether those banks will actually take a hit to profitability.
A Wall Street Lawyer's Take on Financial Reform
3:15PM 7/19/2010
Winthrop Brown, a Washington lawyer who lobbies on behalf of financial services firms, says the new regulations should get "a pretty good grade" from Wall Street -- and from Main Street. But will they prevent another economic meltdown?
Treasury Secretary Timothy Geithner, an architect of the bailouts given to big banks in the wake of the 2008 financial crisis, has reportedly expressed opposition to the appointment of Elizabeth Warren to head the new Consumer Financial Protection Bureau.
Should Geithner have his way, Warren, the...
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Most Actives
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