Word: bankes
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...Debt-spooked markets are now reversing that - something that could over time take the currency closer to the $1.15-to-$1.20 range that experts say is its true value. "The return to a euro-dollar balance of under $1.30 by the end of the year now seems possible," French bank BNP Paribas recently reported. Of course, those bargain American vacations Europeans have become used to taking just got a lot more expensive...
...shortly after the failure of Washington Mutual Bank, Mark Krikorian found a press release issued months earlier by the bank that celebrated its inclusion on a list of “Business Diversity Elites” compiled by Hispanic Business magazine. On NRO, Krikorian posted the release with the sneering headline, “Cause and Effect?”, implying that the bank failed because of its minority employees...
Critics contend that without the pay czar's oversight, Citi will again award outsize pay packages to its top executives. In 2008, despite steep losses at the bank, Citi reportedly paid energy trader Andy Hall $100 million. Indeed, a number of top Citi officials already seem to be cashing in on the bank's loosened pay restrictions. Earlier in the week, Citi, which lost $1.6 billion in 2009, disclosed that it had paid John Havens, widely seen as the bank's No. 2 executive, nearly $10 million in compensation for his work last year. That topped even the salary...
Unlike the BofA deal, however, Citigroup's left intact a large investment in the bank on the part of the government. Citi repaid the government's $20 billion in Citi preferred shares, and it closed an insurance agreement that had the government backing as much as $300 billion in troubled Citi loans. But the deal did nothing to repurchase the 7.7 billions shares the government had acquired in Citi in mid-2009. The Treasury considers its remaining stake in Citi part of the Capital Purchase Program initiated at the start of the financial crisis. But because the government owns common...
Sirius Value Protection offers to calm investor jitters by guaranteeing the long-term value of the property through the put option, says Herzberg. At the same time, the program gives the developer, fund manager, bank, or homebuilder - whoever currently owns the newly-built home - a competitive edge over rivals, he says...