Chillin' out till it needs to be funded
The banks are done with all the help planned for them since 08..here’s just the last 3 days. Reforms will establish a new normal for us bankers..Wells Fargo, Citi, BofA all return the stash , saving on interest, The J P Morgan auction and ING
December 14, 2009, 6:33 PMWells Fargo said Monday evening that it would repay the entire $25 billion that it received in the government’s bailout last year. It said some of the money would come from a $10.4 billion stock sale.
December 14, 2009, 11:42 AMThe government must reexamine the standards by which banks can repay the billions of dollars they received under the Troubled Asset Relief Program, an architect of the financial bailout writes in Another View.
December 14, 2009, 10:00 AMDid the federal government get a better deal by auctioning off its warrants in JPMorgan Chase to private investors instead of letting the bank buy them back?
December 14, 2009, 7:28 AMDealBook has obtained Citigroup’s internal memo to employees about its deal to repay $20 billion of bailout money.
December 14, 2009, 7:00 AMCitigroup was close to a deal on Sunday night to be the last of the big Wall Street banks to exit the government’s bailout program, after trying to persuade regulators that it was sound enough to stand on its own.
December 14, 2009, 5:45 AMBank of New York Mellon’s chief executive, Robert Kelly, is the front-runner to succeed retiring Bank of America chief Kenneth Lewis, but compensation issues could get in the way of a deal, The Wall Street Journal reported.
December 14, 2009, 4:54 AMBritish private equity group Terra Firma wants to bring in outside investors to help prop up music company EMI Group, which is struggling with $4.2 billion of debt, The Observer reported.
December 14, 2009, 4:35 AMAbu Dhabi, the oil-rich governing emirate of the United Arab Emirates, surprised investors on Monday by pledging to provide $10 billion to Dubai, easing fears about an outright debt default by the smaller, struggling emirate.
December 11, 2009, 6:21 AMThe Dutch financial services group ING, which came close to collapse last year, said Friday that this month it would repay half of the 10 billion euros provided by the government during the height of the financial crisis.
December 10, 2009, 1:15 PMThe United States economy is struggling against “headwinds” that mean the government must retain the ability to respond to unexpected crises, even as it starts to wind down emergency programs, Treasury Secretary Timothy F. Geithner said Thursday.
December 10, 2009, 5:11 AMBank of America fully repaid the U.S. government the $45 billion in aid it took during the height of the financial crisis, the company said on Wednesday.
December 10, 2009, 2:17 AMA year after accepting two taxpayer bailouts, Citigroup is racing to raise billions of dollars in the stock market to repay the aid, a crucial step in freeing itself from Washington’s grip.
via Andrew’s Dealbook Remember Andrew Sorkin is also writing the facebook movie!