Continue reading General Motors Profit Has Company on Track to Go Public Again

General Motors Profit Has Company on Track to Go Public Again originally appeared on BloggingStocks on Mon, 17 May 2010 17:00:00 EST. Please see our terms for use of feeds.

Goldman Sachs (GS) offered up a blowout quarterly report Tuesday. GS earnings were the second best on record and short only of Goldman fourth quarter earnings report from just a few months ago.

In the wake of recent fraud allegations against the investment bank, there's plenty of reason for politicians and taxpayers to grumble. But don't think it's envy over the record profits -- the real problem here isn't the big buckets of money being pulled in by Goldman Sachs, but the source of the income. Consider that without all the money GS made on Wall Street via proprietary trading, the bank's quarterly profits would be just $2.53 billion -- about half the profits put up by U.S. Bancorp (USB) the same day.

Continue reading Goldman Sachs Profits Demonstrate Main St.-Wall St. Divide

Goldman Sachs Profits Demonstrate Main St.-Wall St. Divide originally appeared on BloggingStocks on Wed, 21 Apr 2010 11:30:00 EST. Please see our terms for use of feeds.

In a long standing court battle between the media and the Fed, a decision to release bail out documents was handed down by the US Court of Appeals.

Last year, two reporters from Bloomberg News filed for disclosure of the documents under the Freedom of Information Act. Later a similar suit was filed by Fox News. The Fed countered that such information would cause "competitive and reputational harm" perhaps triggering bank runs and implode the central bank's ability to effectively manage the current and any future financial crisis.

Continue reading Federal Reserve Ordered to Release Bail Out Documents

Federal Reserve Ordered to Release Bail Out Documents originally appeared on BloggingStocks on Fri, 19 Mar 2010 18:20:00 EST. Please see our terms for use of feeds.

Can you imagine this! American International Group (AIG) is paying its employees $100 million in bonuses.

This is after AIG was bailed out to the tune of $182 billion by the U.S. government. The government owns 80% of the insurance giant. AIG employees have agreed to a $20 million cut. However, some employees are screaming that that is not enough. They claim that their contracts dated earlier than the bailout must be honored.

Continue reading AIG to Pay Out $100 Million in Bonuses

AIG to Pay Out $100 Million in Bonuses originally appeared on BloggingStocks on Wed, 03 Feb 2010 13:00:00 EST. Please see our terms for use of feeds.

Bernanke is faced with increasing criticism for his handling of the financial crisis and lack of transparency. Representative Ron Paul has a bill before the House demanding an accounting of what the Fed has done with all the money it is spending.

Continue reading Why is Ben Bernanke on the hot seat?

Why is Ben Bernanke on the hot seat? originally appeared on BloggingStocks on Tue, 24 Nov 2009 15:40:00 EST. Please see our terms for use of feeds.

Continue reading Bailed out banks under marketing fire from more competent peers

Bailed out banks under marketing fire from more competent peers originally appeared on BloggingStocks on Mon, 02 Nov 2009 11:40:00 EST. Please see our terms for use of feeds.

You're now free to invest in Iceland ... should you be so inclined. On Sunday, the country will begin lifting its post-financial disaster capital controls, giving investors a bit more elbow room. Foreign currency investments coming in won't be subject to the existing controls.

According to a statement released by Iceland's central bank, "Investors are authorized, without restrictions, to convert into foreign currency the sales proceeds from assets in which they invest after Nov.1." The statement also said, "Previously, non-residents were fully authorized to transfer foreign currency deriving from interest and dividends on investments in Iceland."

Continue reading Iceland is now open for business once more

Iceland is now open for business once more originally appeared on BloggingStocks on Sun, 01 Nov 2009 12:00:00 EST. Please see our terms for use of feeds.

Continue reading Why another GMAC bailout is (especially) bad for America

Why another GMAC bailout is (especially) bad for America originally appeared on BloggingStocks on Wed, 28 Oct 2009 10:10:00 EST. Please see our terms for use of feeds.

"GE bent the accounting rules beyond the breaking point," said Robert Khuzami, Director of the SEC's Division of Enforcement.

"Overly aggressive accounting can distort a company's true financial condition and mislead investors." said David P. Bergers, Director of the SEC's Boston Regional Office. "Every accounting decision at a company should be driven by a desire to get it right, not to achieve a particular business objective. GE misapplied the accounting rules to cast its financial results in a better light."

Continue reading General Electric pays off regulators with bailout money

General Electric pays off regulators with bailout money originally appeared on BloggingStocks on Wed, 05 Aug 2009 15:30:00 EST. Please see our terms for use of feeds.

Continue reading Serious Money: The world's dumbest market

Serious Money: The world's dumbest market originally appeared on BloggingStocks on Fri, 31 Jul 2009 17:00:00 EST. Please see our terms for use of feeds.

Continue reading Merle Hazard is back with 'Bailout'

Merle Hazard is back with 'Bailout' originally appeared on BloggingStocks on Tue, 28 Jul 2009 17:30:00 EST. Please see our terms for use of feeds.

Continue reading Most Americans will take the recovery, high banker compensation, and all

Most Americans will take the recovery, high banker compensation, and all originally appeared on BloggingStocks on Thu, 23 Jul 2009 16:40:00 EST. Please see our terms for use of feeds.

Home foreclosure filings in the United States hit a record 1.9 million in the first half of 2009, according to RealtyTrac --- on more than 1.5 million properties. Again, unemployment is one of the primary culprits, as a lack of income makes it pretty tough to bring a loan at risk of default up to date. The number of filings is up 9% from the second half of 2008 and up almost 15% from the same period last year.

Last month, foreclosure filings were up 5% relative to May and up 33% from June 2008. The month's action was the third highest on record, and it was the fourth month in a row in which there were filings on more than 300,000 properties.

Continue reading Gov't aid can't prevent H1 foreclosure record

Gov't aid can't prevent H1 foreclosure record originally appeared on BloggingStocks on Thu, 16 Jul 2009 13:30:00 EST. Please see our terms for use of feeds.

Here is today's quiz. If you were given $1,000,000 to spend each day, how many days would it take you to spend $12.2 trillion dollars? You are probably wondering where the number $12.2 trillion came from? Well, this is the amount of money the government has committed for economic recovery.

Some of the monies can be accounted for but its still a big mystery where the rest went. So far we know this:

Continue reading $12.9 trillion for economic recovery. Where is it?

$12.9 trillion for economic recovery. Where is it? originally appeared on BloggingStocks on Fri, 19 Jun 2009 18:00:00 EST. Please see our terms for use of feeds.

A report today in The New York Post reveals that bailed-out Bank of America (NYSE: BAC) is still doling out millions in bonuses to attract and retain top banking talent. Bank of America is catching heat over the bonus payouts, since it hasn't yet received federal clearance to repay its $45 billion in TARP loans.

Bank of America allegedly shelled out $15 million over two years to keep Fares Noujaim, an alumnus of both Bear Stearns and Merrill Lynch, who now serves as the company's vice chairman of investment banking. Harry McMahon is named as another banker who's been enticed to stay with handsome bonuses.

Continue reading Bank of America accused of shelling out big bonuses to bankers

Bank of America accused of shelling out big bonuses to bankers originally appeared on BloggingStocks on Thu, 18 Jun 2009 14:30:00 EST. Please see our terms for use of feeds.

General Motors (NYSE: GM) announced this morning that not enough of its bondholders agreed to swap its debt for company stock, pushing the automaker even closer to bankruptcy. GM was offering to exchange $27 billion in unsecured debt for 10% of the company's stock. The struggling Detroit damsel has until Monday to finish its restructuring or it will file for Chapter 11 bankruptcy protection. This deadline was set by the government and includes requirements regarding debt reduction, labor cost cuts and plant closures.

Continue reading GM inches even closer to bankruptcy as bondholders reject offer

GM inches even closer to bankruptcy as bondholders reject offer originally appeared on BloggingStocks on Wed, 27 May 2009 09:40:00 EST. Please see our terms for use of feeds.

General Motors (NYSE: GM) disclosed yesterday that it had borrowed another $4 billion from the Treasury Department, raising its total indebtedness to us to $19.4 billion.

The New York Times reports that "G.M. originally said that it would need an additional $2.6 billion from the government to operate through June 1, but added $1.4 billion to that amount."

Whoops! GM underestimated its cash needs by an astounding 53.8%!

Continue reading GM lied about how much cash it needed: Should we give them more?

GM lied about how much cash it needed: Should we give them more? originally appeared on BloggingStocks on Sat, 23 May 2009 12:40:00 EST. Please see our terms for use of feeds.

This is a strange world. Once we thought that life insurance companies were among the safest in the world, but now a new change is blowing in. The government is worried about the assets and liabilities of six major life insurance companies, so they are bailing them out to the tune of $22 billion.

The main problem is that these insurance companies recently acquired banks to qualify for part of the TARP funds.

Continue reading Should insurance companies receive $22 billion of TARP money?

Should insurance companies receive $22 billion of TARP money? originally appeared on BloggingStocks on Fri, 15 May 2009 18:30:00 EST. Please see our terms for use of feeds.

Continue reading TARP loans may not be loans for much longer

TARP loans may not be loans for much longer originally appeared on BloggingStocks on Tue, 21 Apr 2009 14:00:00 EST. Please see our terms for use of feeds.

Continue reading Citigroup first quarter earnings preview

Citigroup first quarter earnings preview originally appeared on BloggingStocks on Thu, 16 Apr 2009 16:40:00 EST. Please see our terms for use of feeds.