After the money taken by Citigroup from the TARP funds, the government decided today that we will increase our stake to 36% from 8% in the company without putting anymore cash into it.
Read the rest of this entry »
Citigroup announced today that they plan on using $36.5 billion in the Treasury Department’s Trouble Asset Relief Program, or TARP, funds to fund mortgage loans.
Read the rest of this entry »
According to a Wall Street Journal analysis of bank ten of the 13 biggest beneficiaries of the Treasury Department’s Trouble Asset Relief Program, or TARP, had a decline in total loan balances of about $46 billion, or 1.4% from the third and fourth quarters of 2008.
Read the rest of this entry »
Citigroup, Bank of America, annd JPMorgan Chase abandon their plan to create a 100 billion dollar super fund designed to unblock the credit markets.
Read the rest of this entry »
Today Treasury Secretary Henry Paulson commended some big banks that have made efforts to bring off balance sheet investments tied to their subprime mortgage loans back onto their books.
Read the rest of this entry »
Wall Street Journal reported today that Citigroup, JPMorgan Chase, and Bank of America, the three largest US banks with the backing of the US Treasury Department, have agreed on the structure of a 100 billion dollar super fund designed to help unblock the credit markets.
Read the rest of this entry »
Deutsche analyst Mike Mayo estimates that the Large US banks and brokerages could suffer an additional $10 billion more in the fourth quarter as deteriorating conditions due to the credit market continue to undercut the value of subprime mortgages.
Read the rest of this entry »
Citigroup announced today that it’s combining it’s investment banking and alternative investment divisions into one lead by Vikram Pandit, a former Morgan Stanley executive.
Read the rest of this entry »