Word: citigroup
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...program which includes thorough vetting of the health of America's 19 largest banks. That part of the drama is over. Someone leaked almost all of the information on the banks that failed the tests and how much money they will be asked to bring in as new capital. Citigroup (C), Wells Fargo (WFC), and Bank of America (BAC) are troubled, as the government sees it, and will have to improve their balance sheets by a combined total of almost $60 billion. JP Morgan (JPM) and Goldman Sachs (GS) passed the tests and are free from any additional obligations...
...Bondholders who would not settle with the government and Chrysler are appropriately greedy. The money that they put into Chrysler debt came from pension funds and individual investors in many cases. It is not as if Citigroup (C) is the debtor left holding the check. Citigroup could, at least, petition the Fed to get back any money it lost on its Chrysler investment...
...take the job. Lewis can fairly make the claim that B of A shareholders have not done too badly since the Merrill troubles were disclosed. Since the first of the year, the firm's stock has done nearly as well as Wells Fargo's (WFC) and much better than Citigroup's (C). (See 25 people to blame for the financial crisis...
...Citigroup (C) has gone to the Treasury to beg for bonuses for some of its most important traders, people who make the banks extraordinary amounts of money. The Treasury's reaction will probably be that it wants to stay out of a fight with Congress and avoid negative public opinion and will turn the request down...
...exist, anecdote suggests that not too many loans have been restructured under the original plan thus far. That, though, could largely be due to the complexity of implementing a new process - it takes time to change computer systems and train employees. CitiMortgage, the home-lending arm of Citigroup, officially began offering government-backed modifications only on April...