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Auction Rate
Latest Headlines
Latest Headlines
Goldman Sachs' New Jersey rate swap problem
Goldman Sachs ( GS ) has managed to embroil itself in yet another political controversy. This one involves some interest rate swaps the state of New Jersey purchased in 2003 to hedge against rising interest rates, according to Bloomberg .
The state's transportation trust fund authority so
Crisis taking toll on states and cities
We haven't spent a lot of time discussing states and municipalities as the credit crunch continues to unfold. But it's clear that they are suffering. Lot of states--Connecticut, Florida, and Massachusetts, for example--have delayed new financing. The city of Vallejo, CA, recently defaulted on over
Why did Sallie Krawcheck really leave Citi?
The departure of Sallie Krawcheck from Citigroup was painted as a matter of her being on the outs when Vikram Pandit took over as CEO. No one doubts that there has been a lot of tension; perhaps it was a bad fit. But Fortune reports the tension revolved around "the amount of money that Citi ow
Recombining stock research and banking a good idea?
You can bet Eliot Spitzer is not taking this well: Citigroup is mulling a move that would fold its once-maligned equity research unit into the institutional securities business. Recall that six years ago, in a high-profile victory for Spitzer, a so-called "global settlement" forced banks to se
New York sues UBS over auction rate securities
UBS has once again found itself the target of federal charges. This time, New York Attorney General Andrew Cuomo has charged the Swiss bank with illegally promoting auction rate securities as safe investments when executives knew they were anything but. According to the AP , investigators have
More Bear Stearns charges coming?
NPR reports that there could be new indictments against Ralph Cioffi and Matthew Tannin, the two Bear Stearns execs who have already been charged with misleading investors. The new charges reportedly would deal with the funds relationship with the banks that provided credit and various gua
ALSO NOTED: Class action suit targets Bank of America's auction rate securities; Wells Fargo tightens home loan rules; and much
Company News: > Wells Fargo tightens home loan rules. Article > E*Trade looking better. Article > Class action suit targets Bank of America's auction rate securities. Article
Regulatory News: > SEC looks at Wachovia's auction rate securities. Article
ALSO NOTED: Citigroup may sell Japanese consumer finance unit; Morgan Stanley closes infrastructure fund; and much more...
Company News: > Morgan Stanley closes infrastructure fund. Article > More on HSBC earnings. Article > Citigroup may sell Japanese consumer finance unit. Article > Soros on Bear Stearns. Video > Evercore posts a 1Q loss. Article > Ladenburg Thalma
Citigroup works to keep advisers in house
Citigroup  certainly got a lot of ink during the credit crunch. We read a lot about disgruntled shareholders, but not a lot about upset advisers. Investment News now reports that the bank is in overdrive trying to keep the really big producers--and their clients--on board. Executives
ALSO NOTED: Mayo: Lehman still under some pressure; Citigroup forms alternatives group; and much more...
Company News: > When to bail on a money manager. Article > Amex to slash staff? Article > Citigroup forms alternatives group. Article > Legg Mason joins crowd, will raise $1 billion. Article > Wachovia's loss doubles. Article > State Street office
