Word: bankses
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The auto industry bailout saga is working its way up and down the supply chain. Shortly before Christmas, the Federal Reserve Board quietly provided $200 million of support aimed specifically at auto dealers, who have had a difficult time financing their inventories - forcing some of them out of business. The...
Obama found himself in that uncomfortable position because of the unpopularity of the $700 billion Wall Street bailout that Congress passed last fall to help stabilize the nation's ailing banks. Half of that money has already been used up by the Bush Administration, and with little indication that such...
Would being smaller and more focused have helped Citi over the past two years, or in the period just before that when it was piling up investments in mortgage-backed securities and LBO debt? Since all of its peers, even the smaller banks, did the same thing, probably not.
The figures for the last quarter of 2008, being reported now, show that 2009 could be astonishingly bad for big banks. The dozen largest banks in the world could easily lose a combined $100 billion. The problems causing that will certainly cascade into this year. (See pictures of the Top...
With just a few days to go until the nation's largest banks report earnings, forecasts for how they will do diverge wildly. Of the analysts covering Citigroup (C) the most optimistic believe that firm will lose $.47 a share. The most pessimistic number is a loss of $1.57. For...