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Preferred Stock
Latest Headlines
Latest Headlines
Bank of America capital efforts weigh on stock
Bank of America has once again tested its post-financial crisis lows, continuing its flirtation with penny stock status.
The stock has yet to break through the $5 a share support level, but no one would be all that surprised if it did. It's unclear what is motivating Mr. Market today. It may b
A clarification on Buffett's investment in Bank of America
Mea Culpa. Not too long ago I wrote an item about Warren Buffett's deal to invest $5 billion in Bank of America via preferred shares. I erroneously stated that, as cumulative perpetual preferred shares, the proceeds count toward Tier 1 capital (albeit on a restricted basis). That is not the case.
Buffett invests $5 billion in Bank of America
Just as Warren Buffett rode to the rescue of Goldman Sachs at the height of the financial crisis, so too is he riding to the rescue of Bank of America.
Bank of America has announced that the sage of Omaha's Berkshire Hathaway has agreed to invest $5 billion in preferred stock that carries a so
Basel III hits a milestone; U.S. banks have work to do
Top central bankers and regulators gathered in Switzerland over the weekend and finalized the Basel III accord late Sunday. The new rules come just three years after Basel II was adopted. A lot is riding on the outcome of this, as the required ratios and the timetables for adoptions could have
Liberty Mutual sues Goldman Sachs over Fannie Mae offering
Is it open season on any securities underwritten by Goldman Sachs ( NYSE: GS ) that ended up tanking? In the wake of the SEC's suit against Goldman, alleging fraud in how it sold synthetic CDOs to some institutions, we've seen at least one other CDO-related suit emerge. That may have emboldened
Profitable bank bailouts
There's been a whole lot of public anger about the bailouts of big Wall Street firms. But whether it was wise or not to bail out the top banks, at least it did not cost taxpayers an arm and a leg. In fact, it looks now like taxpayers got a pretty decent return on their "investment" in banks.
Small banks still ailing
While people assume that profits at the big banks will soar this year, the picture is quite the opposite for small banks, where the crisis is still unfolding. As of June 30, there were 416 banks that were on the FDIC's "troubled" list, which Fortune notes is 15-year high and nearly four times
Citigroup exchange deal final
As expected, Citigroup has finalized a deal that calls for Uncle Sam to convert $27.5 billion in preferred stock to common stock, according to media reports. This would lift the government's stake to about 36 percent. Citigroup will become the only big bank in which the government will own a big s
How much will Bank of America need?
The timing couldn't have been worse. As angry shareholders were preparing to convene, the news trickled out: Bank of America's stress results were not great, requiring billions more in capital. But how much more? An early estimate comes from Freidman, Billings, Ramsey analysts, who reckon the bank
More on S&P lowering Bank of America rating
Standard & Poor's decision to cut Bank of America's long-term credit rating to A from A+ is hardly surprising. The biggest wild card now is not the toxic assets that drove so much concern earlier, but good, old-fashioned consumer credits that look shaky in the deteriorating economy. Of course
