Tag:
Sallie Mae
Latest Headlines
Latest Headlines
Citi's bad bank sells out of student loan business
Citigroup (NYSE: C ) wants to focus on the core consumer banking market, and student loans apparently no longer fall under that umbrella.
Citigroup announced it will sell its student loan business and $32 billion in assets to Discover Financial Services and Sallie Mae. Some might have specu
The end of Fannie and Freddie
People have been wondering about the ultimate fate of Fannie and Freddie, which were seized by the government last year. While they, no doubt, added liquidity to the system by securitizing all those mortgages, they could not escape the excesses of the industry and ended up being a huge drain on ta
Complex event processing reaches beyond capital markets
We tend to think of complex event processing as a trading-oriented technology, an engine that processes multiple streams of market data at very high speeds. But as Bank Technology News makes clear,
Computer glitch at Sallie Mae
Sallie Mae has been upgrading its systems to better conform with that of the credit agencies, presumably to make reporting easier among other things. But it all backfired when an unspecified
C&L: Executive Moves
> Howard Newman to join Sallie Mae board
> MF Global names J. Randy MacDonald  CFO
> Behrman Capital hires retired general Peter Pace
> Ron Suber , ex-Bear Stearns exec, joins prime broker
> Michael Armstrong to step down as Citi director
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ALSO NOTED: Merrill Lynch shares tank, will shutter subprime unit; Carlyle bond fund misses margin calls; and much more...
Company News: > Citic demanding a larger stake of Bear Stearns. Article > Carlyle bond fund misses margin calls. Article > Merrill Lynch shares tank; will shutter subprime unit. Article > Thornburg's ratings slashed by Fitch. Article > UBS buys stake in re
Banks advised to walk away from deals
Remember the Sallie Mae situation not too long ago when the firm continuously insisted it had a solid deal with banks and that it expected those banks to keep their commitments? Well, as the Financial Times points out, banks are being advised that it would be cheaper to walk away from such de
Another deal gone bust?
What's going on with the Alliance Data Systems-Blackstone Group deal? The deal was struck back in May. But Alliance shares have been weakening recently as rumors mounted that the deal may be in trouble. Alliance denied the speculation. Now comes news from Blackstone that federal regulators have s
ALSO NOTED: NY suit against Countrywide grows to include banks; New York hit by subprime crisis; and much more...
Company News: > Cerberus to give new loan to Dura? Article > Bain buyout offer to be voted on by 3Com shareholders. Article > Ameritrade officials denied full incentive pay. Article > Sallie Mae settles suit over busted deal. Article > Hedge funds look at N
Power in deals to shift to sellers?
It has been a buyer's market--and contractual terms reflected that. But after a nasty spate of busted deals, headlined by the on-going Sallie Mae blow up, ClearChannel and others, the New York Times notes we're likely to see some contractual tinkering that will shift some power back to the se
