Word: bankes
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Dates: during 2000-2009
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...Sitting on the government's side of the table in the talks with Bank of America are officials from Treasury, the Fed, and the FDIC. The deposit insurance agency does not have to capital to bail out a lot of big banks. It has to worry about work-outs for smaller ones that are failing. The Fed is willing to lend big banks money for a short term. It is not likely to get into the business of trading cash for equity...
...Treasury has already been through a round of throwing money at financial firms in exchange for equity and the possible right of making sure bank executives get the salaries they deserve rather than the ones their boards give them...
...Once Congress does go along with letting Obama's Treasury Secretary have access to the $350 billion still left from the money that was allocated for the TARP, a great deal of it may be going right back out to banks. The forecast now is that Citigroup (C) could lose $10 billion this quarter. A look at what is happening to consumer credit, LBOs, and the alarming increase in corporate bankruptcies means that Citi may need more than one injection of capital this year. The same holds true for Bank of America and a number of other financial firms which...
...Since Jan. 2, the Standard & Poor's 500 index has given back roughly half of the 24% gain it had logged since mid-November's low of 741. The financial news, spiked with bankruptcies, bank losses, surging foreclosures, rising unemployment and a slew of lifestyle stories on how to live on less, is unnerving investors. On Thursday they confirmed their wariness by taking the Dow Industrials below 8000 briefly before boosting the index back to close at 8212, up 12.35 points...
...Most troubling to the financial markets is the ongoing question surrounding the nation's biggest banks, including reports that Bank of America's acquisition of Merrill Lynch is shaky and that BofA will need billions more in federal assistance. Meanwhile, Citigroup is trying to stay one step ahead of the sharks, er, shorts, who have taken the stock down more than 20% in the past two days. Though Citi is moving aggressively to hive off assets and divisions - earlier this week it announced the merger of its Smith Barney brokerage unit with Morgan Stanley's Global Wealth Management division...