Tag:
Massive Losses
Latest Headlines
Latest Headlines
An alternative to the Volcker Rule
Two professors at the University of Minnesota Law school have suggested that a simpler alternative to the Volcker Rule would be to require bank executives "to personally guarantee the debts of their firms in return for their high salaries and bonuses, or pay them with stock that is subject to a ca
SEC steps up charges against Bank of America
The trial of Bank of America ( BAC ) promises to be a barn burner, even if no individuals are on trial. The pre-trial skirmishes have stepped up a notch, with the SEC filing some additional charges related to whether the bank should have disclosed massive losses--$4.5 billion in October alone--t
Citi sued by Abu Dhabi fund
As if Citigroup ( C ) didn't have enough problems: It is being sued by the Abu Dhabi Investment Authority after the sovereign wealth fund invested $7.5 billion in the bank two years ago, when the stock was trading around the $30 a share. The fund looks set to suffer some massive losses, when the
The mysteries of the Bank of America, Merrill Lynch deal
The substance of Timothy Mayopoulos' testimony before the house panel was overshadowed somewhat by the disgust the Congressmen displayed for Brian Moynihan, who did not come off as credible and may have hurt his chances to run the bank. Mayopoulos was the general counsel who was fired so that Moyn
Big questions after acquittals
As Wall Street continues to cheer, the jury acquittals of Ralph Cioffi and Matthew Tannin continue to reverberate. Business Week notes there are plenty of unanswered questions. Chief among them is whether and to what extent the two Bear Stearns hedge fund managers were responsible for massive
Bank of America moves to reduce government ties
Would extricating itself from TARP and other government programs really be the magic bullet for Bank of America? If it can pay back its TARP borrowing, would the air suddenly be cleared? I don't think so. The fact is that the banking industry climate right now is not terribly hospitable, and there
Private equity LPs would like to sell but...
Private equity investors who would like to sell their stakes via the secondary market are finding that adequate liquidity doesn't appear to exist. A survey by private equity research firm Preqin found that 11 percent of the 568 institutional investors want to sell fund interests. Of those, only 10
