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1 Nov, 2007 1:16 pm
Citigroup's stock closed Thursday down almost 7 percent, its lowest close in four years and about $15 billion of market value wiped out. And the primary driver was a report by CIBC
analyst Meredith Whitney, who wrote in a report that the financial giant may need to cut its dividend or sell off assets to [...]
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23 Sep, 2008 4:46 pm
We are in the fog of war right now, as Treasury Secretary Henry Paulson's bailout bill makes its way through Congress. However, the Politico Web site says it has obtained a draft of
Senator Christopher J. Dodd's version of the legislation, and the document provides an interesting peek into what the Democrats may be thinking. [...]
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16 Mar 2:02 pm
Wells Fargo's chairman, Richard M. Kovacevich, didn't want to take the federal government's bailout money in the first place. Now, he is assailing the government for imposing new
restrictions on financial institutions that receive federal money, and he calls a federal plan to subject big banks to stress tests "asinine." Mr. Kovacevich said Wells Fargo, the [...]
28 Oct 10:10 am
The total of cash losses by investors in Bernard L. Madoff's giant Ponzi scheme has climbed to $21.2 billion, according to the court-appointed trustee overseeing victim claims.
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