General Banking News
The Chinese gov't probably took their money and now they're rotting in jail.
NZ runaway millionaires on the loose
http://news.smh.com.au/breaking-news-world/nz-runaway-millionaires-on-the-loose-20090607-bzh6.html
Bank Chief Tells of U.S. Pressure to Buy Merrill Lynch
http://www.nytimes.com/2009/06/12/business/12bank.html?ref=global-home
Fed Memo Said Aid for Bank of America Would ‘Come at a Price’
http://www.bloomberg.com/apps/news?pid=20601103&sid=a2ZP30tM3fpE
Ailing Banks Caught Between Regulators' Competing Visions
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/10/AR2009061003756.html
Banks cut borrowing from Fed program to $36.9B
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/11/AR2009061103161.html
Bank Advertising
Funny bankin' doesn't have to mean crisis bankin'
Bank of America
CEO: Government pushed bank to buy Merrill Lynch
http://www.google.com/hostednews/ap/article/ALeqM5iiSKNakDSOAjQNLlJ9S2GiegQXtgD98OM7J00
Bank of America (BAC) NewsBite - BAC Upgraded By Keefe Bruyette Woods
http://www.marketintelligencecenter.com/articles/889989
How Bad is the Bank of America/Merrill Lynch Scandal?
http://business.theatlantic.com/2009/06/how_bad_is_the_bank_of_americamerrill_lynch_scandal.php
Wells Fargo
What does it mean that Wells Fargo is hanging on to its TARP funds?
http://www.minnpost.com/stories/2009/06/11/9435/what_does_it_mean_that_wells_fargo_is_hanging_on_to_its_tarp_funds
Wells Fargo Rally Can't Last: Analyst
http://www.thestreet.com/story/10512628/1/wells-fargo-rally-cant-last-analyst.html?cm_ven=GOOGLEFI
Rally at Wells Fargo: Save jobs and homes now!
http://www.pww.org/article/articleview/15978/
Final Offer?
http://www.journal-topics.com/dp/09/dp090610.6.html
SunTrust
SunTrust sues SouthEast Waffles owner
http://www.tennessean.com/article/20090611/BUSINESS01/906110329/1003/NEWS01/SunTrust+sues+SouthEast+Waffles+owner
BB&T
BB&T Wealth Management tops survey
http://www.bizjournals.com/triad/stories/2009/06/08/daily45.html
BB&T (BBT) NewsBite - BBT Upgraded By Goldman Sachs
http://www.marketintelligencecenter.com/articles/890016
Regions
Regions Bank intends to pay back federal bailout money 'as soon as we are allowed'
http://www.al.com/business/huntsvilletimes/index.ssf?/base/business/1244711773258790.xml&coll=1
Thursday, June 11, 2009
Wednesday, June 10, 2009
Wednesday Evening News -
General Banking News
10 Banks Allowed to Repay $68B in Bailout Money
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/09/AR2009060900891.html?nav=rss_business
Banks Repaying TARP to Be Freed of Bonus Curbs Imposed by Dodd
http://www.bloomberg.com/apps/news?pid=20601087&sid=aziwVj2QFoFI
Taxpayers gain $2.7B on bailout 'investment'
http://money.cnn.com/2009/06/10/news/economy/fed_balance_sheet/?postversion=2009061015
Five of 12 Fed banks say downturn moderating
http://www.marketwatch.com/story/five-of-12-fed-banks-say-downturn-moderating
Sad news
Feds freeze online poker bank accounts
http://www.upi.com/Top_News/2009/06/10/Feds-freeze-online-poker-bank-accounts/UPI-92291244656040/
Treasury appoints pay czar to oversee TARP banks
http://www.marketwatch.com/story/treasury-appoints-pay-czar-to-oversee-tarp-banks
Bank Shareholders Unite!
http://www.fool.com/investing/general/2009/06/10/bank-shareholders-unite.aspx
Bank of America
E-Mails Show Fed Pressure on Bank of America
http://www.nytimes.com/2009/06/11/business/11bank.html?ref=business
Gov to set Lewis' pay
Overseer to Set Executive Pay at Rescued Companies
http://www.nytimes.com/2009/06/11/business/11pay.html?hpw
Wells Fargo
Wells Fargo May Repay Bailout in Pieces
http://www.thestreet.com/story/10512121/1/wells-fargo-may-repay-bailout-in-pieces.html?cm_ven=GOOGLEN
SunTrust
Not the full story
SunTrust Says Citi Poached Employees, Trade Secrets
http://ip.law360.com/registrations/user_registration?article_id=105662&concurrency_check=false
10 Banks Allowed to Repay $68B in Bailout Money
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/09/AR2009060900891.html?nav=rss_business
Banks Repaying TARP to Be Freed of Bonus Curbs Imposed by Dodd
http://www.bloomberg.com/apps/news?pid=20601087&sid=aziwVj2QFoFI
Taxpayers gain $2.7B on bailout 'investment'
http://money.cnn.com/2009/06/10/news/economy/fed_balance_sheet/?postversion=2009061015
Five of 12 Fed banks say downturn moderating
http://www.marketwatch.com/story/five-of-12-fed-banks-say-downturn-moderating
Sad news
Feds freeze online poker bank accounts
http://www.upi.com/Top_News/2009/06/10/Feds-freeze-online-poker-bank-accounts/UPI-92291244656040/
Treasury appoints pay czar to oversee TARP banks
http://www.marketwatch.com/story/treasury-appoints-pay-czar-to-oversee-tarp-banks
Bank Shareholders Unite!
http://www.fool.com/investing/general/2009/06/10/bank-shareholders-unite.aspx
Bank of America
E-Mails Show Fed Pressure on Bank of America
http://www.nytimes.com/2009/06/11/business/11bank.html?ref=business
Gov to set Lewis' pay
Overseer to Set Executive Pay at Rescued Companies
http://www.nytimes.com/2009/06/11/business/11pay.html?hpw
Wells Fargo
Wells Fargo May Repay Bailout in Pieces
http://www.thestreet.com/story/10512121/1/wells-fargo-may-repay-bailout-in-pieces.html?cm_ven=GOOGLEN
SunTrust
Not the full story
SunTrust Says Citi Poached Employees, Trade Secrets
http://ip.law360.com/registrations/user_registration?article_id=105662&concurrency_check=false
Tuesday, June 9, 2009
Tuesday / Wednesdays News - Broke Banks, TARP Paybacks
General Banking News
Certain Banks Are Still Broke
http://seekingalpha.com/article/142373-certain-banks-are-still-broke
Ten banks allowed to pay back TARP
http://money.cnn.com/2009/06/09/news/companies/banks_tarp/?postversion=2009060916
US Bancorp
U.S. Bank can repay $6.6B in TARP funds
http://www.bizjournals.com/dayton/stories/2009/06/08/daily40.html
BB&T
BB&T gets OK to repay TARP money
http://www2.journalnow.com/content/2009/jun/09/bbt-gets-ok-repay-tarp-money/
Bank of America
Lawmakers Order Fed to Relinquish Merrill Documents
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/09/AR2009060903408.html
http://www.reuters.com/article/ousiv/idUSTRE5585EU20090609
Bank of America’s Chief Says Fed Pushed for Merrill Purchase
http://www.bloomberg.com/apps/news?pid=20601103&sid=aHDSy97GG8ok
Wells Fargo
Wells Fargo: haven't yet applied to repay TARP cash
http://www.reuters.com/article/pressReleasesMolt/idUSTRE5586JE20090609
Woman sues Wells Fargo claiming retaliatory firing
http://www.greatfallstribune.com/article/20090609/NEWS01/90609003/Woman+sues+Wells+Fargo+claiming+retaliatory+firing
It will take Wells Fargo longer to repay TARP
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/06/09/BUG11834EG.DTL
SunTrust
SunTrust Inches Closer To Tier 1 Common Capital Target
http://assetmanagement.banking-business-review.com/news/suntrust_inches_closer_to_tier_1_common_capital_target_100609
Certain Banks Are Still Broke
http://seekingalpha.com/article/142373-certain-banks-are-still-broke
Ten banks allowed to pay back TARP
http://money.cnn.com/2009/06/09/news/companies/banks_tarp/?postversion=2009060916
US Bancorp
U.S. Bank can repay $6.6B in TARP funds
http://www.bizjournals.com/dayton/stories/2009/06/08/daily40.html
BB&T
BB&T gets OK to repay TARP money
http://www2.journalnow.com/content/2009/jun/09/bbt-gets-ok-repay-tarp-money/
Bank of America
Lawmakers Order Fed to Relinquish Merrill Documents
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/09/AR2009060903408.html
Bank of America paying Mozilo's legal fees
http://www.reuters.com/article/ousiv/idUSTRE5585EU20090609
Bank of America’s Chief Says Fed Pushed for Merrill Purchase
http://www.bloomberg.com/apps/news?pid=20601103&sid=aHDSy97GG8ok
Wells Fargo
Wells Fargo: haven't yet applied to repay TARP cash
http://www.reuters.com/article/pressReleasesMolt/idUSTRE5586JE20090609
Woman sues Wells Fargo claiming retaliatory firing
http://www.greatfallstribune.com/article/20090609/NEWS01/90609003/Woman+sues+Wells+Fargo+claiming+retaliatory+firing
It will take Wells Fargo longer to repay TARP
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/06/09/BUG11834EG.DTL
SunTrust
SunTrust Inches Closer To Tier 1 Common Capital Target
http://assetmanagement.banking-business-review.com/news/suntrust_inches_closer_to_tier_1_common_capital_target_100609
Monday, June 8, 2009
Monday Evening News - TARP Plus
General Banking News
Excellent AP breakdown
Stress-tested banks raise $75.2 billion in capital
http://www.google.com/hostednews/ap/article/ALeqM5g5fQjVDctN1UmKVLKfcOeBKqUjhQD98MNJC00
Rolling up TARP: Will it be strong banks vs. weak?
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/08/AR2009060803280.html
Fed signs off on big banks' capital raising plans
http://www.marketwatch.com/story/fed-signs-off-on-big-banks-capital-raising-plans
Fed Accepts Plans From 10 Banks Needing More Capital
http://www.bloomberg.com/apps/news?pid=20601103&sid=aY5EIkZ_cupI&refer=us
SunTrust
SunTrust Offer Gives Lender 96% of Stress-Test Goal
http://www.bloomberg.com/apps/news?pid=20601103&sid=a0c8.sL2OtOg&refer=news
Bank of America
Bank of America Says Ward, Mitchell Resign From Board
http://www.bloomberg.com/apps/news?pid=20601087&sid=a5H65wjZQnKk
Shareholder Activists Reshape Bank of America
http://seekingalpha.com/article/141848-shareholder-activists-reshape-bank-of-america
Wells Fargo
For Shame!
Wells Fargo's Evergreen paying $40M in SEC accord
http://www.google.com/hostednews/ap/article/ALeqM5jlPDRhGe2X3RkNwbEYmN_lsCsxgAD98MJS202
Holding On to Wells Fargo, Watching How Banks Play Out
http://seekingalpha.com/article/141926-holding-on-to-wells-fargo-watching-how-banks-play-out
Litigation says Wells targeted blacks for subprime loans: report
http://www.bizjournals.com/sanfrancisco/stories/2009/06/08/daily11.html
Charlotte loses clout at Wells
As the organizational chart of the merged bank takes shape, fewer top executives will be based here.
http://www.charlotteobserver.com/business/story/768813.html
First Data and Wells Fargo Expand Relationship
http://finance.sfgate.com/hearst/?Account=sfgate&GUID=9070993&Page=MediaViewer&Ticker=%24CHRON200
Excellent AP breakdown
Stress-tested banks raise $75.2 billion in capital
http://www.google.com/hostednews/ap/article/ALeqM5g5fQjVDctN1UmKVLKfcOeBKqUjhQD98MNJC00
Rolling up TARP: Will it be strong banks vs. weak?
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/08/AR2009060803280.html
Fed signs off on big banks' capital raising plans
http://www.marketwatch.com/story/fed-signs-off-on-big-banks-capital-raising-plans
Fed Accepts Plans From 10 Banks Needing More Capital
http://www.bloomberg.com/apps/news?pid=20601103&sid=aY5EIkZ_cupI&refer=us
SunTrust
SunTrust Offer Gives Lender 96% of Stress-Test Goal
http://www.bloomberg.com/apps/news?pid=20601103&sid=a0c8.sL2OtOg&refer=news
Bank of America
Bank of America Says Ward, Mitchell Resign From Board
http://www.bloomberg.com/apps/news?pid=20601087&sid=a5H65wjZQnKk
Shareholder Activists Reshape Bank of America
http://seekingalpha.com/article/141848-shareholder-activists-reshape-bank-of-america
Wells Fargo
For Shame!
Wells Fargo's Evergreen paying $40M in SEC accord
http://www.google.com/hostednews/ap/article/ALeqM5jlPDRhGe2X3RkNwbEYmN_lsCsxgAD98MJS202
Holding On to Wells Fargo, Watching How Banks Play Out
http://seekingalpha.com/article/141926-holding-on-to-wells-fargo-watching-how-banks-play-out
Litigation says Wells targeted blacks for subprime loans: report
http://www.bizjournals.com/sanfrancisco/stories/2009/06/08/daily11.html
Charlotte loses clout at Wells
As the organizational chart of the merged bank takes shape, fewer top executives will be based here.
http://www.charlotteobserver.com/business/story/768813.html
First Data and Wells Fargo Expand Relationship
http://finance.sfgate.com/hearst/?Account=sfgate&GUID=9070993&Page=MediaViewer&Ticker=%24CHRON200
Saturday, June 6, 2009
Weekend News (not much of it)
General Banking News
Regional bank in Illinois fails
http://money.cnn.com/2009/06/05/news/companies/bank_failure/?postversion=2009060518
Regulators Push for Change at Two Troubled Big Banks
http://www.nytimes.com/2009/06/06/business/economy/06bank.html
Citigroup
Citi's Vikram Pandit on the hot seat
http://money.cnn.com/2009/06/05/news/pandit.crosshairs.fortune/?postversion=2009060515
Regional bank in Illinois fails
http://money.cnn.com/2009/06/05/news/companies/bank_failure/?postversion=2009060518
Regulators Push for Change at Two Troubled Big Banks
http://www.nytimes.com/2009/06/06/business/economy/06bank.html
Citigroup
Citi's Vikram Pandit on the hot seat
http://money.cnn.com/2009/06/05/news/pandit.crosshairs.fortune/?postversion=2009060515
Friday, June 5, 2009
Friday News - Things not to say; Mozilo Charged; Change at BoA
General Banking News
Things not to say
Bank customer says he's 'on a mission to kill the president'; fed charges filed
http://www.sltrib.com/ci_12520998?source=most_viewed
More stupid people (no shortage here)
Man jailed for sending powder-laced letters to banks
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN0423831120090604
Good Article
U.S. Banks Rely on Conversions for 22% of Stress-Test Capital
http://www.bloomberg.com/apps/news?pid=20601103&sid=aYZnjey0Lue8&refer=news
Rebuilding the House of Cards
http://www.insidefutures.com/article/104211/Rebuilding%20the%20House%20of%20Cards.html
Banks borrow more from Fed; investment cos. none
http://www.google.com/hostednews/ap/article/ALeqM5hjQ8J74ua3ph6ibMC6NyqYwHcnTAD98K3CKG0
Shifting the Focus to What Comes Next
http://www.americanbanker.com/article.html?id=20090603LDY8CCE6&specialreportid=2009060329O1GZ9G
Bank Profits From Accounting Rules Masking Looming Loan Losses
Wells Fargo highlighted
http://www.bloomberg.com/apps/news?pid=20601109&sid=alC3LxSjomZ8
U.S. Job Losses Slow, Signaling Recession Is Abating
http://www.bloomberg.com/apps/news?pid=20601103&sid=axhy8nEZHIXY&refer=news
Bank of America
Bank of America Elects 4 New Directors
http://dealbook.blogs.nytimes.com/2009/06/05/bank-of-america-names-4-new-directors/?hp
Bank of America Ousts Head of Risk Oversight
http://www.nytimes.com/2009/06/05/business/05risk.html?ref=global
Bank of America Names Greg Curl Chief Risk Officer
http://www.bloomberg.com/apps/news?pid=20601103&sid=aaognA7BpKHE&refer=news
Another one gone
Bank of America director Robert Tillman resigns
http://www.businessweek.com/ap/financialnews/D98K43900.htm
BofA CEO may testify to Congress over Merrill
http://www.reuters.com/article/bondsNews/idUSN0527459020090605
Bank of America’s Merrill Adds $5 Billion to Deposits in Month
http://www.bloomberg.com/apps/news?pid=20601087&sid=a7gLCwXtE7nU
Big surprise here
Countrywide’s Mozilo, Two Ex-Executives Accused by SEC of Fraud
http://www.bloomberg.com/apps/news?pid=20601103&sid=al4QWAr2aHCs&refer=news
One more question for John Finger to ask Ken Lewis
http://dealbreaker.com/2009/06/one-more-question-for-jon-fing.php
Frontline show will focus on Bank of America
http://www.boston.com/business/ticker/2009/06/frontline_show_1.html
BofA inner circle shrinks
http://www.ft.com/cms/s/0/49681114-51f7-11de-b986-00144feabdc0.html
SunTrust
SunTrust sells Walmart branches
Orlando-based Urban Trust Bank adds more Walmart branches
http://www.bloomberg.com/apps/news?pid=20601103&sid=al4QWAr2aHCs&refer=news
Wells Fargo
Is Wells Fargo Looking to Purchase AIG-UGI?
http://seekingalpha.com/article/141459-is-wells-fargo-looking-to-purchase-aig-ugi
Wells Fargo Insurance Services nabs Las Vegas brokerage in buying spree
http://www.bizjournals.com/sanfrancisco/stories/2009/06/01/daily59.html
Schwarzenegger declares 'day of reckoning'; Wells Fargo CEO says California in 'financial ruin'
http://www.howestreet.com/articles/index.php?article_id=9707
BB&T
BB&T breaks ground
http://www.register-herald.com/local/local_story_152221603.html
Regions
Regions Bank escalates foreclosure activity
http://www.bizjournals.com/birmingham/stories/2009/06/01/daily35.html
Regions Financial Corp.'s Morgan Keegan Loses Yet Another Arbitration Case
http://www.globenewswire.com/newsroom/news.html?d=166682
Things not to say
Bank customer says he's 'on a mission to kill the president'; fed charges filed
http://www.sltrib.com/ci_12520998?source=most_viewed
More stupid people (no shortage here)
Man jailed for sending powder-laced letters to banks
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN0423831120090604
Good Article
U.S. Banks Rely on Conversions for 22% of Stress-Test Capital
http://www.bloomberg.com/apps/news?pid=20601103&sid=aYZnjey0Lue8&refer=news
Rebuilding the House of Cards
http://www.insidefutures.com/article/104211/Rebuilding%20the%20House%20of%20Cards.html
Banks borrow more from Fed; investment cos. none
http://www.google.com/hostednews/ap/article/ALeqM5hjQ8J74ua3ph6ibMC6NyqYwHcnTAD98K3CKG0
Shifting the Focus to What Comes Next
http://www.americanbanker.com/article.html?id=20090603LDY8CCE6&specialreportid=2009060329O1GZ9G
Bank Profits From Accounting Rules Masking Looming Loan Losses
Wells Fargo highlighted
http://www.bloomberg.com/apps/news?pid=20601109&sid=alC3LxSjomZ8
U.S. Job Losses Slow, Signaling Recession Is Abating
http://www.bloomberg.com/apps/news?pid=20601103&sid=axhy8nEZHIXY&refer=news
Bank of America
Bank of America Elects 4 New Directors
http://dealbook.blogs.nytimes.com/2009/06/05/bank-of-america-names-4-new-directors/?hp
Bank of America Ousts Head of Risk Oversight
http://www.nytimes.com/2009/06/05/business/05risk.html?ref=global
Bank of America Names Greg Curl Chief Risk Officer
http://www.bloomberg.com/apps/news?pid=20601103&sid=aaognA7BpKHE&refer=news
Another one gone
Bank of America director Robert Tillman resigns
http://www.businessweek.com/ap/financialnews/D98K43900.htm
BofA CEO may testify to Congress over Merrill
http://www.reuters.com/article/bondsNews/idUSN0527459020090605
Bank of America’s Merrill Adds $5 Billion to Deposits in Month
http://www.bloomberg.com/apps/news?pid=20601087&sid=a7gLCwXtE7nU
Big surprise here
Countrywide’s Mozilo, Two Ex-Executives Accused by SEC of Fraud
http://www.bloomberg.com/apps/news?pid=20601103&sid=al4QWAr2aHCs&refer=news
One more question for John Finger to ask Ken Lewis
http://dealbreaker.com/2009/06/one-more-question-for-jon-fing.php
Frontline show will focus on Bank of America
http://www.boston.com/business/ticker/2009/06/frontline_show_1.html
BofA inner circle shrinks
http://www.ft.com/cms/s/0/49681114-51f7-11de-b986-00144feabdc0.html
SunTrust
SunTrust sells Walmart branches
Orlando-based Urban Trust Bank adds more Walmart branches
http://www.bloomberg.com/apps/news?pid=20601103&sid=al4QWAr2aHCs&refer=news
Wells Fargo
Is Wells Fargo Looking to Purchase AIG-UGI?
http://seekingalpha.com/article/141459-is-wells-fargo-looking-to-purchase-aig-ugi
Wells Fargo Insurance Services nabs Las Vegas brokerage in buying spree
http://www.bizjournals.com/sanfrancisco/stories/2009/06/01/daily59.html
Schwarzenegger declares 'day of reckoning'; Wells Fargo CEO says California in 'financial ruin'
http://www.howestreet.com/articles/index.php?article_id=9707
BB&T
BB&T breaks ground
http://www.register-herald.com/local/local_story_152221603.html
Regions
Regions Bank escalates foreclosure activity
http://www.bizjournals.com/birmingham/stories/2009/06/01/daily35.html
Regions Financial Corp.'s Morgan Keegan Loses Yet Another Arbitration Case
http://www.globenewswire.com/newsroom/news.html?d=166682
Wednesday, June 3, 2009
Wednesday Evening / Thursday News - More lawsuits, TCF, Toxic Assets
General Banking News
Fed May Step Up on Mortgages, Bank of America Says
http://www.bloomberg.com/apps/news?pid=20601087&sid=aRcSqY5zv7F4
U.S. FDIC delays pilot sale of toxic bank loans
http://www.reuters.com/article/governmentFilingsNews/idUSN0311295120090603
And the best banks are...
http://www.fiercefinance.com/story/and-best-banks-are/2009-06-03
Lloyds Bank to axe 30 jobs in Birmingham (thur)
http://www.birminghampost.net/birmingham-business/birmingham-business-news/financial-business-news/2009/06/04/lloyds-bank-to-axe-30-jobs-in-birmingham-65233-23788545/
Six banks to buy back sour auction bonds (thur)
http://www.boston.com/business/articles/2009/06/04/six_banks_to_buy_back_sour_auction_bonds/
JP Morgan
STOCKS NEWS US-JPMorgan to disband Principal Investment units
http://www.forbes.com/feeds/afx/2009/06/03/afx6498467.html
Bank of America
BofA board may meet activist investor Finger -NY Post (thur)
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSBNG48085520090604
Exclusive: Merrill Brokers Pissed At Secret Bank Of America Coup
http://www.businessinsider.com/bank-of-america-coup-at-merrill-lynch-roils-financial-advisers-may-cut-their-pay-2009-6
Extended Stay investors sue BofA, Wells Fargo
http://in.reuters.com/article/innovationNews/idINTRE5527FA20090603
BofA Denies Brokerage Shakeup Report
http://www.thestreet.com/story/10509093/1/bofa-denies-brokerage-shakeup-report.html?cm_ven=GOOGLEN
Bank Of America Denies Our Merrill Shakeup Story
http://www.businessinsider.com/bank-of-america-denies-our-merrill-shakeup-story-2009-6
Banks, SEC Settle Claims of Investor Fraud in Sale of Auction Rate Securities
http://www.attorneyatlaw.com/2009/06/banks-sec-settle-claims-of-investor-fraud-in-sale-of-auction-rate-securities/
Morgan Stanley
Morgan Stanley seen among first to exit TARP
http://www.reuters.com/article/ousiv/idUSTRE5526T720090603
SunTrust
Regions nabs Barton from SunTrust
http://www.tennessean.com/article/20090603/BUSINESS01/90603050/Regions+nabs+Barton+from+SunTrust
KeyCorp
KeyCorp Commences Two Exchanges Offers For Preferred Securities
http://www.rttnews.com/ArticleView.aspx?Id=968802&SMap=1
KeyCorp says has generated about 70% of government's requirement - Quick Facts http://www.rttnews.com/ArticleView.aspx?Id=968540&SMap=1
Wells Fargo
Ex-employees claim racism in Wells Fargo subprime loan push (thur)
http://www.baltimoresun.com/news/local/bal-md.wellsfargo04jun04,0,2820547.story
Extended Stay investors sue BofA, Wells Fargo
http://in.reuters.com/article/innovationNews/idINTRE5527FA20090603
Wells Fargo breaks ground on new downtown Waco bank location (thur)
http://www.wacotrib.com/news/content/news/stories/2009/06/03/06032009wacWellsFargo.html
TCF Financial
It's tough to say no to an overbearing uncle who prints money.
http://www.forbes.com/forbes/2009/0622/tarp-stimulus-states-saying-no-to-government.html
Colonial
Colonial BancGroup names new execs to replace Lowder (thur)
http://www.bizjournals.com/birmingham/stories/2009/06/01/daily28.html
Fed May Step Up on Mortgages, Bank of America Says
http://www.bloomberg.com/apps/news?pid=20601087&sid=aRcSqY5zv7F4
U.S. FDIC delays pilot sale of toxic bank loans
http://www.reuters.com/article/governmentFilingsNews/idUSN0311295120090603
And the best banks are...
http://www.fiercefinance.com/story/and-best-banks-are/2009-06-03
Lloyds Bank to axe 30 jobs in Birmingham (thur)
http://www.birminghampost.net/birmingham-business/birmingham-business-news/financial-business-news/2009/06/04/lloyds-bank-to-axe-30-jobs-in-birmingham-65233-23788545/
Six banks to buy back sour auction bonds (thur)
http://www.boston.com/business/articles/2009/06/04/six_banks_to_buy_back_sour_auction_bonds/
JP Morgan
STOCKS NEWS US-JPMorgan to disband Principal Investment units
http://www.forbes.com/feeds/afx/2009/06/03/afx6498467.html
Bank of America
BofA board may meet activist investor Finger -NY Post (thur)
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSBNG48085520090604
Exclusive: Merrill Brokers Pissed At Secret Bank Of America Coup
http://www.businessinsider.com/bank-of-america-coup-at-merrill-lynch-roils-financial-advisers-may-cut-their-pay-2009-6
Extended Stay investors sue BofA, Wells Fargo
http://in.reuters.com/article/innovationNews/idINTRE5527FA20090603
BofA Denies Brokerage Shakeup Report
http://www.thestreet.com/story/10509093/1/bofa-denies-brokerage-shakeup-report.html?cm_ven=GOOGLEN
Bank Of America Denies Our Merrill Shakeup Story
http://www.businessinsider.com/bank-of-america-denies-our-merrill-shakeup-story-2009-6
Banks, SEC Settle Claims of Investor Fraud in Sale of Auction Rate Securities
http://www.attorneyatlaw.com/2009/06/banks-sec-settle-claims-of-investor-fraud-in-sale-of-auction-rate-securities/
Morgan Stanley
Morgan Stanley seen among first to exit TARP
http://www.reuters.com/article/ousiv/idUSTRE5526T720090603
SunTrust
Regions nabs Barton from SunTrust
http://www.tennessean.com/article/20090603/BUSINESS01/90603050/Regions+nabs+Barton+from+SunTrust
KeyCorp
KeyCorp Commences Two Exchanges Offers For Preferred Securities
http://www.rttnews.com/ArticleView.aspx?Id=968802&SMap=1
KeyCorp says has generated about 70% of government's requirement - Quick Facts http://www.rttnews.com/ArticleView.aspx?Id=968540&SMap=1
Wells Fargo
Ex-employees claim racism in Wells Fargo subprime loan push (thur)
http://www.baltimoresun.com/news/local/bal-md.wellsfargo04jun04,0,2820547.story
Extended Stay investors sue BofA, Wells Fargo
http://in.reuters.com/article/innovationNews/idINTRE5527FA20090603
Wells Fargo breaks ground on new downtown Waco bank location (thur)
http://www.wacotrib.com/news/content/news/stories/2009/06/03/06032009wacWellsFargo.html
TCF Financial
It's tough to say no to an overbearing uncle who prints money.
http://www.forbes.com/forbes/2009/0622/tarp-stimulus-states-saying-no-to-government.html
Colonial
Colonial BancGroup names new execs to replace Lowder (thur)
http://www.bizjournals.com/birmingham/stories/2009/06/01/daily28.html
Tuesday, June 2, 2009
Wednesday Morning News - STI jump, BoA needs more $?, Wells Hiring
General Banking News
"Runaway Millionaires" Leo Gao & Cara Young still on the loose
Former GMAC Bank under attack
http://money.cnn.com/2009/06/03/news/ally.enemy.fortune/?postversion=2009060304
Treasury Secretary's Secret Talking Points Reveal That Banks Were Forced to Surrender Ownership Stakes to Government
http://www.cnsnews.com/public/content/article.aspx?RsrcID=49004
Banks Eager To Repay TARP Find New Capital Hurdles
Concise article
http://money.cnn.com/news/newsfeeds/articles/djf500/200906021557DOWJONESDJONLINE000567_FORTUNE5.htm
Leaving So Soon?
http://dealbook.blogs.nytimes.com/2009/06/02/leaving-so-soon/?ref=business
JPMorgan Leads U.S. Banks Selling $8.7 Billion of Common Stock
http://www.bloomberg.com/apps/news?pid=20601103&sid=aN8GiTzvWJA8&refer=us
B of A, JPMorgan, others raise $19 billion
http://www.reuters.com/article/gc06/idUSTRE5514IG20090602
Fed Said to Raise Requirements for Banks to Repay TARP Funds
http://www.bloomberg.com/apps/news?pid=20601087&sid=ajQ3cx_jGULI
SunTrust
SunTrust shares jump on analyst upgrade
http://www.forbes.com/feeds/ap/2009/06/02/ap6494763.html
Bank of America
Bank of America Will ‘Comfortably’ Beat Capital Goal
http://www.bloomberg.com/apps/news?pid=20601087&sid=aGdQ.Qcs4w8A&refer=home
BofA, Citi risk getting left behind by healthy rivals
http://www.reuters.com/article/americasDealsNews/idUSTRE55204720090603
Wells Fargo
Former Wells Fargo workers allege race-based scheme in suit
http://www.baltimoresun.com/business/bal-wells-fargo-0602,0,4321854.story
Shift by Hartmarx Reopens Bidding
http://www.nytimes.com/2009/06/02/business/02hartmarx.html
Wells Fargo to create 200 jobs in San Antonio
http://www.bizjournals.com/sanantonio/stories/2009/06/01/daily17.html
Citigroup
Citi reportedly halts some severance payments
http://www.marketwatch.com/story/citi-reportedly-halts-some-severance-payments
KeyCorp
KeyCorp raises $1 billion in new capital
http://www.google.com/hostednews/ap/article/ALeqM5g_EKH7cQdeBXhJrvw8Jnqrsuu1CgD98IKMVO0
"Runaway Millionaires" Leo Gao & Cara Young still on the loose
Former GMAC Bank under attack
http://money.cnn.com/2009/06/03/news/ally.enemy.fortune/?postversion=2009060304
Treasury Secretary's Secret Talking Points Reveal That Banks Were Forced to Surrender Ownership Stakes to Government
http://www.cnsnews.com/public/content/article.aspx?RsrcID=49004
Banks Eager To Repay TARP Find New Capital Hurdles
Concise article
http://money.cnn.com/news/newsfeeds/articles/djf500/200906021557DOWJONESDJONLINE000567_FORTUNE5.htm
Leaving So Soon?
http://dealbook.blogs.nytimes.com/2009/06/02/leaving-so-soon/?ref=business
JPMorgan Leads U.S. Banks Selling $8.7 Billion of Common Stock
http://www.bloomberg.com/apps/news?pid=20601103&sid=aN8GiTzvWJA8&refer=us
B of A, JPMorgan, others raise $19 billion
http://www.reuters.com/article/gc06/idUSTRE5514IG20090602
Fed Said to Raise Requirements for Banks to Repay TARP Funds
http://www.bloomberg.com/apps/news?pid=20601087&sid=ajQ3cx_jGULI
SunTrust
SunTrust shares jump on analyst upgrade
http://www.forbes.com/feeds/ap/2009/06/02/ap6494763.html
Bank of America
Bank of America Will ‘Comfortably’ Beat Capital Goal
http://www.bloomberg.com/apps/news?pid=20601087&sid=aGdQ.Qcs4w8A&refer=home
BofA, Citi risk getting left behind by healthy rivals
http://www.reuters.com/article/americasDealsNews/idUSTRE55204720090603
Wells Fargo
Former Wells Fargo workers allege race-based scheme in suit
http://www.baltimoresun.com/business/bal-wells-fargo-0602,0,4321854.story
Shift by Hartmarx Reopens Bidding
http://www.nytimes.com/2009/06/02/business/02hartmarx.html
Wells Fargo to create 200 jobs in San Antonio
http://www.bizjournals.com/sanantonio/stories/2009/06/01/daily17.html
Citigroup
Citi reportedly halts some severance payments
http://www.marketwatch.com/story/citi-reportedly-halts-some-severance-payments
KeyCorp
KeyCorp raises $1 billion in new capital
http://www.google.com/hostednews/ap/article/ALeqM5g_EKH7cQdeBXhJrvw8Jnqrsuu1CgD98IKMVO0
Monday, June 1, 2009
New Topic Threads
Add a comment to this post to start a new topic thread. Good comments will earn their own post for discussion. (New Comment Monday)
Tuesday News - SunTrust Offering, BoA Wins, JP Morgan
General Banking News
Newest Ruse: Banks Capitalizing on "Toxic Assets"
http://www.moneymorning.com/2009/06/02/banks-toxic-assets/
Fed Says Banks Must Raise Equity Before Repaying TARP
http://www.bloomberg.com/apps/news?pid=20601103&sid=abgtwRAEfeLY&refer=us
Banks pay in-house advisers big fees
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/05/17/BU2217KRBT.DTL
Bankers oppose creation of lone U.S. regulator
http://news.cincinnati.com/article/20090531/BIZ/905310325/1076
JPMorgan, Amex to sell stock to get out of TARP
http://www.reuters.com/article/ousiv/idUSN0146572120090601
SunTrust Bank
SunTrust plans stock offering to meet feds’ mandate
http://www.ajc.com/services/content/business/stories/2009/06/01/suntrust_stock_offering.html
SunTrust Banks, Inc. Announces Pricing of $1.4 Billion Common Stock Offering
http://money.cnn.com/news/newsfeeds/articles/prnewswire/200906011855PR_NEWS_USPR_____CL25922.htm
Bank of America
Bank of America Wins Ruling on $1.6 Billion Verdict
http://www.bloomberg.com/apps/news?pid=20601103&sid=aHiq6ARK65EE&refer=us
Bank of America Names McMahon to Investment Bank Post
http://www.bloomberg.com/apps/news?pid=20601087&sid=aCB.7KofCnds&refer=home
BofA Adds Strategists after Lead Director’s Departure
http://www.housingwire.com/2009/06/01/bofa-adds-strategists-after-lead-directors-departure/
Citigroup Booted Out Of DOW, Bank Of America May Be Next
http://www.businessinsider.com/henry-blodget-citigroup-booted-out-of-dow-bank-of-america-may-be-next-2009-6
Wells Fargo
Wells Fargo launches Wachovia ad campaign
http://www.bizjournals.com/atlanta/stories/2009/06/01/daily14.html
Citigroup
Travelers Cos, In Ironic Twist, Takes Citi's Place In Dow
http://money.cnn.com/news/newsfeeds/articles/djf500/200906011426DOWJONESDJONLINE000502_FORTUNE5.htm
BB & T
Banks Ready To Throw In The TARP
http://www.forbes.com/2009/06/01/banking-tarp-fed-business-beltway-tarp.html
Judge refuses to close BB&T whistleblower case
http://www.rockymounttelegram.com/news/state/judge-refuses-to-close-bbt-whistleblower-case-638222.html
BB&T introduces unified managed account program for wealthy clients
http://news.prnewswire.com/DisplayReleaseContent.aspx?ACCT=104&STORY=/www/story/06-01-2009/0005035731&EDATE=
J.P. Morgan
JPMorgan Chase seeks to raise $5 billion in bid to repay government's TARP program
http://www.startribune.com/business/46655887.html?elr=KArks:DCiU1OiP:DiiUiD3aPc:_Yyc:aUU
Fresh from bailout, JPMorgan among banks looking to buy rivals
http://www.app.com/article/20090601/BUSINESS/90601051/1003/Fresh+from+bailout++JPMorgan+among+banks+looking+to+buy+rivals
US Bancorp and TCF Financial
CEO's Rank 22nd and 18th in Minnesota CEO Compensation
http://ww2.startribune.com/projects/exec_comp/topCeoView.html
Newest Ruse: Banks Capitalizing on "Toxic Assets"
http://www.moneymorning.com/2009/06/02/banks-toxic-assets/
Fed Says Banks Must Raise Equity Before Repaying TARP
http://www.bloomberg.com/apps/news?pid=20601103&sid=abgtwRAEfeLY&refer=us
Banks pay in-house advisers big fees
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/05/17/BU2217KRBT.DTL
Bankers oppose creation of lone U.S. regulator
http://news.cincinnati.com/article/20090531/BIZ/905310325/1076
JPMorgan, Amex to sell stock to get out of TARP
http://www.reuters.com/article/ousiv/idUSN0146572120090601
SunTrust Bank
SunTrust plans stock offering to meet feds’ mandate
http://www.ajc.com/services/content/business/stories/2009/06/01/suntrust_stock_offering.html
SunTrust Banks, Inc. Announces Pricing of $1.4 Billion Common Stock Offering
http://money.cnn.com/news/newsfeeds/articles/prnewswire/200906011855PR_NEWS_USPR_____CL25922.htm
Bank of America
Bank of America Wins Ruling on $1.6 Billion Verdict
http://www.bloomberg.com/apps/news?pid=20601103&sid=aHiq6ARK65EE&refer=us
Bank of America Names McMahon to Investment Bank Post
http://www.bloomberg.com/apps/news?pid=20601087&sid=aCB.7KofCnds&refer=home
BofA Adds Strategists after Lead Director’s Departure
http://www.housingwire.com/2009/06/01/bofa-adds-strategists-after-lead-directors-departure/
Citigroup Booted Out Of DOW, Bank Of America May Be Next
http://www.businessinsider.com/henry-blodget-citigroup-booted-out-of-dow-bank-of-america-may-be-next-2009-6
Wells Fargo
Wells Fargo launches Wachovia ad campaign
http://www.bizjournals.com/atlanta/stories/2009/06/01/daily14.html
Citigroup
Travelers Cos, In Ironic Twist, Takes Citi's Place In Dow
http://money.cnn.com/news/newsfeeds/articles/djf500/200906011426DOWJONESDJONLINE000502_FORTUNE5.htm
BB & T
Banks Ready To Throw In The TARP
http://www.forbes.com/2009/06/01/banking-tarp-fed-business-beltway-tarp.html
Judge refuses to close BB&T whistleblower case
http://www.rockymounttelegram.com/news/state/judge-refuses-to-close-bbt-whistleblower-case-638222.html
BB&T introduces unified managed account program for wealthy clients
http://news.prnewswire.com/DisplayReleaseContent.aspx?ACCT=104&STORY=/www/story/06-01-2009/0005035731&EDATE=
J.P. Morgan
JPMorgan Chase seeks to raise $5 billion in bid to repay government's TARP program
http://www.startribune.com/business/46655887.html?elr=KArks:DCiU1OiP:DiiUiD3aPc:_Yyc:aUU
Fresh from bailout, JPMorgan among banks looking to buy rivals
http://www.app.com/article/20090601/BUSINESS/90601051/1003/Fresh+from+bailout++JPMorgan+among+banks+looking+to+buy+rivals
US Bancorp and TCF Financial
CEO's Rank 22nd and 18th in Minnesota CEO Compensation
http://ww2.startribune.com/projects/exec_comp/topCeoView.html
Bank of America Rants & Issues - Part II
F Bank of America
http://shaggycub.livejournal.com/99722.html
Why Bank of America is Failing
http://dandreifort.wordpress.com/2009/05/07/why-bank-of-america-is-failing/
Make The Banks Give Back Our Stimulus
http://www.theinsider.com/news/2199786_Make_The_Banks_Give_Back_Our_Stimulus
Tenants evict Bank of America
http://www.providenceamerican.com/news.cfm?article_id=2064
A Credit Card You Want to Toss
http://bizzstory.blogspot.com/2009/04/credit-card-you-want-to-toss.html
You may have seen this one already!
http://ihateboa.com/
Seems like a theme...
http://nyc-brooklyn.blogspot.com/2009/03/i-hate-bank-of-america.html
http://shaggycub.livejournal.com/99722.html
Why Bank of America is Failing
http://dandreifort.wordpress.com/2009/05/07/why-bank-of-america-is-failing/
Make The Banks Give Back Our Stimulus
http://www.theinsider.com/news/2199786_Make_The_Banks_Give_Back_Our_Stimulus
Tenants evict Bank of America
http://www.providenceamerican.com/news.cfm?article_id=2064
A Credit Card You Want to Toss
http://bizzstory.blogspot.com/2009/04/credit-card-you-want-to-toss.html
You may have seen this one already!
http://ihateboa.com/
Seems like a theme...
http://nyc-brooklyn.blogspot.com/2009/03/i-hate-bank-of-america.html
Weekend / Monday News - Least Valuable CEO's, Resigning Director
General Banking News
Entrepreneurs, Bailouts and the Last American Hero
Short and Stressed
Fifth Third, Regions, SunTrust & Citigroup
http://ftalphaville.ft.com/blog/2009/06/01/56439/short-and-unstressed/
UPDATE 2-Problem U.S. banks highest since 1994 - FDIC
http://news.alibaba.com/article/detail/markets/100109718-1-update-2-problem-u.s.-banks-highest.html
On the trail of the 10 million dollar runaways
http://www.independent.co.uk/news/world/australasia/on-the-trail-of-the-10-million-dollar-runaways-1693387.html
Fifth Third, SunTrust and Wachovia named co-conspirators in lawsuit
http://freeport.nassauguardian.net/national_local/305653815761745.php
Related Article
http://www.gotoby.com/news/Ginn_Lawsuit_includes_banks.htm
Lawmen ride in to credit 'Wild West'
http://www.business24-7.ae/Articles/2009/5/Pages/29052009/05302009_d5a92bb5ef084858970e1b1db603085c.aspx
Bank of America
BofA lead director Sloan steps down
http://www.reuters.com/article/etfNews/idUSN2943818420090529
Second Longtime Director Resigns at Bank of America
http://www.nytimes.com/2009/05/30/business/30bank.html?ref=business
Did Bernanke and Paulson Commit Bank Fraud?
http://www.globalresearch.ca/index.php?context=va&aid=13786
Regions
Ritter rated second least valuable boss
http://www.al.com/business/birminghamnews/inc.ssf?/base/business/1243584964257040.xml&coll=2
Related Bloomberg Article
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aOqGBzGEkJbg
Regions cut-backs? Any truth to this post?
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_R/threadview?m=tm&bn=24408&tid=37265&mid=37265&tof=1&rt=2&frt=2&off=1
American Express
Least valuable financial CEO - Ken Chenault
http://www.al.com/business/birminghamnews/inc.ssf?/base/business/1243584964257040.xml&coll=2
Related Bloomberg Article
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aOqGBzGEkJbg
Wells Fargo
Wells Fargo rejects offer for Hartmarx as ill-suited
http://www.chicagotribune.com/business/chi-sat-hartmarx-wells-fargo-053may30,0,2964331.story
Wells Fargo Won't Back Down From Capital Plan
http://www.thestreet.com/story/10507337/1/wells-fargo-wont-back-down-from-capital-plan.html?cm_ven=GOOGLEFI
Citigroup
Does Citigroup have a retention problem?
http://news.efinancialcareers.co.uk/newsandviews_item/newsItemId-19286
Citigroup Stuck With Bernanke Offer Rival Banks Plan to Refuse
http://www.bloomberg.com/apps/news?pid=20601109&sid=ans2mNbxPb2o&refer=home
Entrepreneurs, Bailouts and the Last American Hero
Short and Stressed
Fifth Third, Regions, SunTrust & Citigroup
http://ftalphaville.ft.com/blog/2009/06/01/56439/short-and-unstressed/
UPDATE 2-Problem U.S. banks highest since 1994 - FDIC
http://news.alibaba.com/article/detail/markets/100109718-1-update-2-problem-u.s.-banks-highest.html
On the trail of the 10 million dollar runaways
http://www.independent.co.uk/news/world/australasia/on-the-trail-of-the-10-million-dollar-runaways-1693387.html
Fifth Third, SunTrust and Wachovia named co-conspirators in lawsuit
http://freeport.nassauguardian.net/national_local/305653815761745.php
Related Article
http://www.gotoby.com/news/Ginn_Lawsuit_includes_banks.htm
Lawmen ride in to credit 'Wild West'
http://www.business24-7.ae/Articles/2009/5/Pages/29052009/05302009_d5a92bb5ef084858970e1b1db603085c.aspx
Bank of America
BofA lead director Sloan steps down
http://www.reuters.com/article/etfNews/idUSN2943818420090529
Second Longtime Director Resigns at Bank of America
http://www.nytimes.com/2009/05/30/business/30bank.html?ref=business
Did Bernanke and Paulson Commit Bank Fraud?
http://www.globalresearch.ca/index.php?context=va&aid=13786
Regions
Ritter rated second least valuable boss
http://www.al.com/business/birminghamnews/inc.ssf?/base/business/1243584964257040.xml&coll=2
Related Bloomberg Article
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aOqGBzGEkJbg
Regions cut-backs? Any truth to this post?
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_R/threadview?m=tm&bn=24408&tid=37265&mid=37265&tof=1&rt=2&frt=2&off=1
American Express
Least valuable financial CEO - Ken Chenault
http://www.al.com/business/birminghamnews/inc.ssf?/base/business/1243584964257040.xml&coll=2
Related Bloomberg Article
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aOqGBzGEkJbg
Wells Fargo
Wells Fargo rejects offer for Hartmarx as ill-suited
http://www.chicagotribune.com/business/chi-sat-hartmarx-wells-fargo-053may30,0,2964331.story
Wells Fargo Won't Back Down From Capital Plan
http://www.thestreet.com/story/10507337/1/wells-fargo-wont-back-down-from-capital-plan.html?cm_ven=GOOGLEFI
Citigroup
Does Citigroup have a retention problem?
http://news.efinancialcareers.co.uk/newsandviews_item/newsItemId-19286
Citigroup Stuck With Bernanke Offer Rival Banks Plan to Refuse
http://www.bloomberg.com/apps/news?pid=20601109&sid=ans2mNbxPb2o&refer=home
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