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Citigroup (NYSE:C) CFO Says Employee Pay Will Be Competitive in 2010
The Chief Financial Officer (CFO) for Citigroup (NYSE:C), John Gerspach, stated unequivocally at a conference on Thursday that employees of the bank were paid competitively in 2009 and could expect to see similar pay in 2010. The... More of this article »
Big Banks Like Bank of America (NYSE: BAC) and Citigroup (NYSE:C) Still Quietly Using Government Money
Big banks like Bank of America (NYSE: BAC) and Citigroup (NYSE:C) are still using free government money, in the form of low interest loans from the Temporary Liquidity Guarantee Program (TLGP), guaranteed by the FDIC. So while CEOs... More of this article »
Morgan Stanley (NYSE:MS) To Change Bonus Plans In Response to New UK Tax
The battle over bank bonuses continues as Morgan Stanley (NYSE:MS) made plans to change their current bonus payment plans in response to government actions in the United Kingdom. The Wall Street Journal reported that Morgan Stanley... More of this article »
SEC Admits It’s Investigating Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC), Citigroup (NYSE:C), and Goldman Sachs (NYSE:GS)
The head of the Securities and Exchange Commission (SEC), Mary Schapiro, admitted today that it is investigating the sales practices of Collateralized Debt Obligations (CDOs) of Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC), Citigroup... More of this article »
Goldman Sachs (NYSE:GS) Sued By Two Pension Funds Over Bonuses
The divisive issue of bonus payments to investment bankers reared its head again as it was announced that Goldman Sachs (NYSE:GS) is being sued by two pension funds over planned bonuses paid to employees. The plaintiffs in the lawsuit,... More of this article »
Editorial: Financial Crisis Theater Starring – Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC), JP Morgan Chase (NYSE:JPM), and Morgan Stanley (NYSE:MS)
The next production of government sponsored financial crisis theater is set to open this week in Washington DC, and has assembled an all star ensemble cast of Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC), JP Morgan Chase (NYSE:JPM),... More of this article »
Bank Of America (NYSE:BAC) Set To Pay Bonuses Near 2007 Levels
The Wall Street Journal reported on Thursday that Bank of America (NYSE:BAC) will pay bonuses to its investment bankers at a rate similar to amounts the company paid in 2007. The paper reported that some bankers will get paid roughly... More of this article »
Bank of America (NYSE: BAC) CEO Candidate Facing Scrutiny
Greg Curl, the Chief Risk Officer for Bank of America (NYSE: BAC) and one of the leading internal candidates for the Chief Executive Officer (CEO) position at the bank is currently being sought for additional questioning by the office... More of this article »
Bank of America’s (NYSE:BAC) Board of Directors to Meet Tuesday, May Discuss New CEO
The Board of Directors of Bank of America (NYSE: BAC) is slated to meet next week and may discuss a new Chief Executive Officer (CEO) to succeed the retiring Kenneth Lewis who is set to retire at the end of this year. The Tuesday... More of this article »
US Treasury Set to Auction Capital One Financial (NYSE: COF) Warrants
The United States Treasury announced on Tuesday plans to auction off 12.66 million warrants to buy stock in Capital One Financial (NYSE: COF). The auction, scheduled for Thursday (starting at 8:00am EST), is the first sale by the... More of this article »
Obama Administration To Push Citigroup (NYSE:C), JPMorgan Chase (NYSE:JPM), and Wells Fargo (NYSE:WFC) To Modify More Loans
The Obama Administration is expected to announce on Monday a renewed effort to encourage banks, including Citigroup (NYSE:C), JPMorgan Chase (NYSE:JPM), and Wells Fargo (NYSE:WFC) to concentrate resources and intensify their effort... More of this article »
Democratic Lawmakers Call for Regulations To Limit Bank Overdraft Charges
In a move that would affect commercial banks like Bank of America (NYSE: BAC), Wells Fargo & Co. (NYSE: WFC), and JP Morgan Chase (NYSE: JPM), Democratic lawmakers on Friday publicly called for regulatory changes to banks ability... More of this article »