Citigroup swung to a huge loss in the first quarter, hurt in part by poor performance and write-downs at its alternative investments business.
The losses at Citi Alternative Investments were a relative drop in the $5.1 billion bucket of red ink: the group recorded “negative revenue†of $358 million “on sharply lower proprietary revenues†and $212 [...]
The capital requirement for each company will be reduced from the current 30 percent to 20 percent, and further reductions will be considered by the regulator in the future. Fannie and Freddie will likely raise billions of dollars through special sales of stock.”Fannie Mae and Freddie Mac have played a very important and beneficial role [...]
Goldman Hires Pulitzer-Winning Journalist to Snare Millionaires
By Anthony Effinger
Feb. 22 (Bloomberg) — The conference started with a
cookout at the Mandarin Oriental hotel on Elbow Beach in Bermuda
and ended with a talk by 23-year-old Lauren Bush, an anti-hunger
activist, former model [...]
NEW YORK (Fortune) — Another winter writedown storm hit Wall Street Monday. Shares in Citi, Fannie Mae and Freddie Mac sank after analysts predicted another round of multibillion-dollar losses at the struggling financial firms. The expected writedowns, which reflect rising loan defaults and sharp declines in indexes tracking debt-related securities, come as falling house [...]
The FINANCIAL — WASHINGTON, President Bush is sending Congress a $3 trillion spending blueprint that would provide a big boost to defense and protect his signature tax cuts.
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It seeks sizable savings in government health care programs and puts the squeeze on much of the rest of government, but [...]
NEW YORK %26mdash; Wall Street extended its 2008 plunge today, tumbling after a regional Federal Reserve report showed a sharp decline in manufacturing activity and as investors feared that downgrades of key bond insurers could trigger further trouble with souring debt.
The Dow Jones industrial average lost more than 300 points, or nearly 2.5 [...]
NEW YORK %26mdash; Wall Street extended its 2008 plunge today, tumbling after a regional Federal Reserve report showed a sharp decline in manufacturing activity and as investors feared that downgrades of key bond insurers could trigger further trouble with souring debt.
The Dow Jones industrial average lost more than 300 points, or nearly 2.5 [...]
NEW YORK (Fortune) — Nothing has worked lately for Merrill Lynch and Citi - not even the time-honored Wall Street tradition of writing off everything but the kitchen sink. On Thursday, Merrill (MER, Fortune 500) became the latest big financial institution to post its worst-ever quarterly loss amid sharp devaluations of mortgage-related securities. The big [...]
Still, if those steps fail to calm homeowners and markets, as some investors expect, debate is likely to grow about what levers remain. Some with an interventionist bent are raising proposals amounting to federal bailouts for homeowners facing foreclosure and the revival of New Deal-era programs. Earlier this month, the Mortgage Bankers Association said [...]
Still, if those steps fail to calm homeowners and markets, as some investors expect, debate is likely to grow about what levers remain. Some with an interventionist bent are raising proposals amounting to federal bailouts for homeowners facing foreclosure and the revival of New Deal-era programs. Earlier this month, the Mortgage Bankers Association said [...]
