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- Testing the TARP: PNC and NCC
- Kirk Shinkle submits: After weeks of speculation as its share price headed toward the floor, Cleveland-based regional bank National City NCC goes to PNC Financial Services PNC. The deal creates the country's fifth-largest bank by deposits. by Kirk Shinkle
- External links 2008-10-24
- Lost Luxuries: Starwood, Pool Take Dips
- Kirk Shinkle submits: The good life takes another hit today, as swimming pools and travel plans face cooling profits because of worried consumers. In today's earnings, two names, hotelier Starwood Hotels HOT and pool supplier Pool Corp. POOL, are cutting their outlooks. Starwood Hotels warned profits will fall in...
- External links 2008-10-24
- Could AIG Kill GM's Chances for a Bailout?
- Kirk Shinkle submits: Wow, that first $350 billion went pretty quickly right? According to the Wall Street Journal, after agreeing to expand AIG's AIG bailout by $40 billion or so the Treasury has just $60 billion left to lend of its initial $350 billion allocation under the terms of...
- External links 2008-11-12
- Everybody Hates Merrill Lynch This Week
- Kirk Shinkle submits: And they didn't even go bust! This week a new wave of stories chronicling the decline and fall of Wall Street as we knew it take some pointed jabs at Merrill Lynch MER as it tumbled toward its final sale to Bank of America BAC. by...
- External links 2008-11-12
- More Trouble in Store for Citigroup
- Kirk Shinkle submits: The Wall Street Journal, which ruffled Citigroup's C feathers over possible executive changes last week, now says tens of thousands of job cuts on the way at the bank as well as higher rates for millions of credit card holders. On jobs: by Kirk Shinkle
- External links 2008-11-16
- Citigroup: 4 Bailout Questions
- Kirk Shinkle submits: The government's decision to prop up Citigroup C opens a new chapter in the ongoing financial crisis. This latest rescue, larger by far than the bailouts of Bear Stearns BSC or American International Group AIG, sets the newest precedent for how far the government will go in...
- External links 2008-11-25
- Rubin-omics: Citi's Villain Walks Away
- Kirk Shinkle submits: Robert Rubin, the Citigroup consiglierie and former Treasury secretary, is going to be remembered as one of the key culprits in creating the current financial catastrophe. He's out as a director and senior adviser at Citi now just as the bank rethinks its own future and the...
- External links 2009-01-11
- Why it Matters That a Saudi Prince was Burned By Citigroup
- Kirk Shinkle submits: The fate of oil-rich billionaires doesn't often elicit much sympathy among everyday investors but the waning fortunes of foreign buyers of U.S. assets are worth watching closely. That's because foreign demand for American assets is waning as problems at U.S. banks continue to tarnish America's long history...
- External links 2009-01-22
- American Express Buying Out Cardholders: Bad for the Economy?
- Kirk Shinkle submits: It's another sign that the average American is in for a long stretch of tighter credit: On Monday, the AP reported American Express AXP would offer some of its members $300 in exchange for paying off their balances and closing out their accounts. Douglas A. McIntyre...
- External links 2009-02-24
- Buffett's Bank Buys Beat Back Downgrade
- Kirk Shinkle submits: Warren Buffett's Berkshire Hathaway saw its long-term credit rating cut to Aa2 from top-rated Aaa by Moody's, which cited the troubled economy and the "severe decline in equity markets" for the move as Berkshire's investments in the likes of Wells Fargo and American Express fell hard, the...
- External links 2009-04-09
Additional Resources
- Financial Services: New Challenges for Investors
- Kirk Shinkle submits: Andrew Lo, hedge fund manager and director of MIT's Laboratory for Financial Engineering, is a long-time student of investor behavior, especially the sort that belies the notion that markets move with cool efficiency. Particularly today, he sees animal spirits lurching about in some worrisome ways that could...
- External links 2009-03-03
- Was Ken Lewis Silenced, Threatened By Bernanke and Paulson?
- Kirk Shinkle submits: Bank of America's BAC Ken Lewis' testimony sheds some light on the gory details of last year's crisis management. From the WSJ (sub. req.): Mr. Lewis, testifying under oath before New York's attorney general in February, told prosecutors that he believed Messrs. Paulson and...
- External links 2009-04-24
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