Wednesday's News - Australian's Runaways and Zombie Banks

General Bank News

U.S. Stocks Retreat as Treasury Yields Climb, Monsanto Slides
http://www.bloomberg.com/apps/news?pid=20601087&sid=avT8w9DCovhM&refer=home

No bonuses for bank workers, just raises
This will go over well
http://www.dailyfinance.com/2009/05/27/no-bonuses-for-bank-workers-just-raises/

Banks earned $7.6B in 1Q after record loss in 4Q
http://www.google.com/hostednews/ap/article/ALeqM5i0HyquStzJHIwPDAG4GQQc0-_OEAD98EKQMO1

RPT-Novel ideas surface for U.S. banks' executive pay
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN2237847120090526

American Express, Discover Top Credit Card Provider Rankings
HSBC, WaMu and BOA at the bottom.
http://seekingalpha.com/article/139635-american-express-discover-top-credit-card-provider-rankings

Banks Still Lobbying To Game PPIP
http://www.businessinsider.com/banks-still-lobbying-to-game-ppip-2009-5

The Backdoor Bailout for Banks and the FDIC
http://business.theatlantic.com/2009/05/the_backdoor_bailout_for_banks_and_the_fdic.php

Chinese casino drawn into bank bungle millionaires' tangled web
They're blowing their dough at the casino!
http://www.smh.com.au/world/chinese-casino-drawn-into-bank-bungle-millionaires-tangled-web-20090527-bmon.html
Runaway millionaires may have separated
http://www.stuff.co.nz/national/2443994/Runaway-millionaires-may-have-separated

The Strange Allure of Florida Banks
http://www.reuters.com/article/bigMoney/idUS277917444420090526

Deposit insurance ceiling extended
http://www.post-gazette.com/pg/09147/972821-68.stm

Two Illinois Banks Fail
See sidebar for link to failed institutions
http://www.bankinfosecurity.com/articles.php?art_id=1492

UBS Will Stick to Market-Level Salaries, Gruebel Tells Staff
http://www.bloomberg.com/apps/news?pid=20601087&sid=aWZvH9qVeXoQ&refer=home

Zombie banks walk among us
http://money.cnn.com/2009/05/22/news/companies/zombie_banks/?postversion=2009052615

WaMu's gone, but is Chase 'the one?'
http://www.komonews.com/economy/45877837.html

T2 Partners books profits on Wells Fargo, Amex
Sell WFC, Buy BAC
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSNYS00507920090520

HSBC

HSBC sees tough 2010, may rethink US credit cards
http://www.reuters.com/article/earningsSeason/idUSLM65022620090522

Citigroup

Moody's cuts rating on Citigroup subsidiary
http://www.forbes.com/feeds/ap/2009/05/26/ap6465464.html

Bank of America

Banking On BofA's Long-Term Viability
http://www.forbes.com/2009/05/26/bank-america-financial-markets-equity-capital.html

Bank of America Raises $26 Billion in Capital Plan (Update4)
http://www.bloomberg.com/apps/news?pid=20601087&sid=a4k23DPkFsgA&refer=home

JP Morgan

JPMorgan likely to reap $29 Bln windfall on WaMu bad loans purchase
http://www.rttnews.com/Content/BreakingNews.aspx?Node=B1&Id=959650%20&Category=Breaking%20News

Wells Fargo

Wells Fargo poaches U.S. Trust's N.E. chief
http://www.bizjournals.com/boston/stories/2009/05/25/daily33.html

Wells-Fargo Overdraft Fees - Potential Litigation
http://chimicles.com/case/wells-fargo-overdraft-fees-potential

Wachovia Sued Over 'Bad-Faith' Charging of Overdraft Fees
http://www.law.com/jsp/article.jsp?id=1202429119415

QC Die Casting employees demand meeting from Wells Fargo
http://www.wqad.com/news/wqad-qc-die-casting-wells-fargo-052609,0,6981430.story

Union angry at bailed out bank
Taxpayer's dollars cause trouble
http://www.upi.com/Business_News/2009/05/26/Union-angry-at-bailed-out-bank/UPI-62541243366977/

Hartmarx agrees to sell assets
http://www.chicagotribune.com/business/chi-sat-hartmarx-0523-may23,0,1199285.story