Forget TARP: Wall St Borrowed $1.2 Trillion from Fed
> I continue to be of the mind that the Wall Street Bailouts were misguided, and that a massive Swedish style reorg would have been the best thing for the nation and the economy in the long run. Both Uncle Sam and the Fed would have provided the broad based debtor in possession financing required,...
iStoryTime Inks $2M
Mobile children’s book app provider iStoryTime has sealed $2 million in Series A financing. Corporate Finance Partners led the funding round. The money will be used to expand distribution of the content to additional mobile platforms, the company said.
Stock slide tips BofA CEO’s portfolio toward debt…
A funny thing has happened at Bank of America (BAC) as its shares have lost more than half their value over the last five months: Chief Executive Brian T. Moynihan is looking more like a creditor and less like a shareholder than he used to. That’s not because Moynihan has been selling a significant number...
Citigroup’s CEO Discusses Q2 2011 Results – Earnings Call Transcript
Citigroup (C)
Q2 2011 Earnings Call
July 15, 2011 11:00 am ET
Executives
Vikram Pandit - Chief Executive Officer and Director
John Gerspach - Chief Financial Officer
John Andrews - Director, Investor Relations
Analysts
Jason Goldberg - Barclays Capital
Peter Ganucheau
Ed Najarian - ISI Group Inc.
Ron Mandle - GIC
John McDonald - Sanford C. Bernstein & Co.,...
AXA Private Equity Pays $1.7B for Citi PE Assets
AXA Private Equity is paying $1.7 billion for a portfolio of private equity assets owned by Citigroup, the companies announced Wednesday. The deal is the latest move by Citigroup to unload non-core assets. The portfolio includes 207 limited partnership interests in buyout funds, as well as investments that were made directly into certain companies, the...
AXA Private Equity Pays $1.7B for Citi PE Assets
AXA Private Equity is paying $1.7 billion for a portfolio of private equity assets owned by Citigroup, the companies announced Wednesday. The deal is the latest move by Citigroup to unload non-core assets. The portfolio includes 207 limited partnership interests in buyout funds, as well as investments that were made directly into certain companies, the...
AXA Private Equity Pays $1.7B for Citi PE Assets
AXA Private Equity is paying $1.7 billion for a portfolio of private equity assets owned by Citigroup, the companies announced Wednesday. The deal is the latest move by Citigroup to unload non-core assets. The portfolio includes 207 limited partnership interests in buyout funds, as well as investments that were made directly into certain companies, the...
AXA Private Equity Pays $1.7B for Citi PE Assets
AXA Private Equity is paying $1.7 billion for a portfolio of private equity assets owned by Citigroup, the companies announced Wednesday. The deal is the latest move by Citigroup to unload non-core assets. The portfolio includes 207 limited partnership interests in buyout funds, as well as investments that were made directly into certain companies, the...
AXA Private Equity Pays $1.7B for Citi PE Assets
AXA Private Equity is paying $1.7 billion for a portfolio of private equity assets owned by Citigroup, the companies announced Wednesday. The deal is the latest move by Citigroup to unload non-core assets. The portfolio includes 207 limited partnership interests in buyout funds, as well as investments that were made directly into certain companies, the...
AXA Private Equity Pays $1.7B for Citi PE Assets
AXA Private Equity is paying $1.7 billion for a portfolio of private equity assets owned by Citigroup, the companies announced Wednesday. The deal is the latest move by Citigroup to unload non-core assets. The portfolio includes 207 limited partnership interests in buyout funds, as well as investments that were made directly into certain companies, the...
Monday links: seeking clues
Quote of the day Tyler Craig, “As traders we are all detectives seeking clues.” (Tyler’s Trading) Chart of the day Apple (AAPL) as value play. [...]
Congressional Research Service Confirms Big Banks Borrowed Cash For Next To Nothing, Then Lent It Back to the Federal Government at Much Higher Rates
As I’ve noted for years, the government has been guaranteeing that the big banks make money at taxpayer expense by loaning money at very low interest rates, and then letting the banks loan the money back to the government at much higher interest rates. For example, as I pointed out in January: Bloomberg notes: “The...
