Word: citigroup
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...Well, cold cash money doesn't seem to be doing the trick too well either. On Tuesday, July 28, executives from firms such as Citigroup, JPMorgan Chase and Wells Fargo were invited to a meeting at the Treasury Department for a little pep talk about increasing the number of loan modifications. Officials at Treasury, along with the Department of Housing and Urban Development (HUD; co-host of the head-knocking session), have been underwhelmed by the rewrites. The government's original goal was to get more-affordable monthly payments to 3 million to 4 million borrowers. As of mid-July...
...proposed CFPA appears to be premised on the idea that Washington is better at making financial decisions for all Americans than leaving that choice up to individual Americans," said Spencer Bachus, the ranking Republican on the House Financial Services Committee - whose top five 2008 campaign donors were UBS, Citigroup, Credit Suisse, JPMorgan Chase and Bank of America, according to the Center for Responsive Politics...
...Citi in many parts of its business. Investment-banking revenues at Citi, for instance, fell 13% in the second quarter from a year ago; JPMorgan's investment-banking revenues rose 29% in the same time, according to Bernstein's McDonald. Then there's the issue of talent loss. As Citigroup's troubles have continued, the bank has begun to lose executives to rivals. The most notable departure thus far is Ajay Banga, who headed the bank's Asia Pacific operations. He left Citigroup last month for MasterCard...
...they making progress? Definitely," says Edward Najarian, an analyst who follows Citigroup for International Strategy and Investment Group. "Will this be a $30 stock again? Not anytime soon. There has been way too much dilution in shares outstanding...
...Citigroup and Bank of America will set up the line of credit for the next year, Bloomberg said. In a report published last April, credit ratings agency Moody's Investors Service said the previous line of credit was funded by a consortium of banks, but it is unclear whether Citigroup and Bank of America participated. Spokesmen from Bank of America and Citigroup declined to comment...