Tag:
surprise
Latest Headlines
Latest Headlines
Surprise! Government turns a profit on bailout
The New York Times reports that the government, so far anyway, has turned a profit on all those bank bailouts--about 15 percent, or $4 billion. Of course, the bailout has a long way to run, and there may well be some losses on "investments" in the likes of AIG, Fannie and Freddie, not to menti
How to get things done at Citi
It's no surprise that government regulators wield a lot of power at Citigroup, which is fitting given that it owns 34 percent of the company. But if a glimpse of the process behind the replacement of the former CFO is any indication, the relationship is not an easy one to manage.
The Financi
Next steps in TARP repayment efforts
The deadline has come and gone, for regulators to approve the capital plans of the 10 banks that "failed" the stress tests. The next step is for the government to release a list of banks that have been approved to pay back their TARP funds. The media speculation has been heavy. It's not a stretch
Bank of America's capital-raising prospects
The news that Bank of America has been told by the Treasury that it needs to raise about $34 billion in order to withstand deteriorating economic conditions is not really a surprise. The issue now is whether the bank, which hotly disputed the stress test results, can raise the capital in a way tha
Thundering Herd, not what it used to be?
How well is Bank of America digesting the Thundering Herd of Merrill Lynch? Well, there's been no shortage of fireworks since the deal was announced, the latest of course was the surprise departure of Bob McGann as head of the retail wealth management unit.
His replacement, Dan Sontag, has a t
KKR delays public listing
Many of you likely thought it was ambitious of Kohlberg Kravis Roberts to plow forward to a public listing. The environment is hardly welcoming right now. So it's not really a surprise that the private equity giant has postponed plans for its going-public transaction to 2009, according to media re
JPMorgan raises $1.6 billion
JPMorgan Chase was able to raise $1.6 billion to buttress its balance sheet, but the money did not come cheap. The preferred debt issue carries a whopping 8.7 percent interest rate. The Financial Times reports that this is the highest rate offered by the bank on preferred debt since the bi
Lehman Brothers to sell entire investment management unit?
The latest rumor regarding Lehman Brothers is that it is mulling a sale of its entire asset management unit, not just Neuberger & Berman. This would not be a surprise to anyone. Obviously, all the top banks are considering ways to boost capital ratios. It's unclear what other assets manage
What to make of Citigroup's strategy
Fairly or not, there are some who are less then awestruck by Vikram Pandit's much-anticipated new "strategy" for Citigroup . I wouldn't call it a strategy. It's more a of a survival blueprint for the next few years. The news that it will sell $500 billion in assets certainly is not a surprise.
More on Citigroup's surprise common offering
People are still jawing about Citigroup 's surprise offering this week--the bank's fifth capital-raising effort in five months, notes MarketWatch . The bank raised $4.5 billion, more than the originally announced $3 billion. Still, Meredith Whitney, analyst at Oppenheimer, couldn't understa
