BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Bernanke is going on a buying spree with your money]]>http://www.bloggingstocks.com/2009/08/12/bernanke-is-going-on-a-buying-spree-with-you-money/http://www.bloggingstocks.com/2009/08/12/bernanke-is-going-on-a-buying-spree-with-you-money/http://www.bloggingstocks.com/2009/08/12/bernanke-is-going-on-a-buying-spree-with-you-money/#commentsFiled under: ,

The Federal Reserve's Federal Open Market Committee minutes reveal that the Fed is going on a buying spree. The Fed plans to buy $1.25 trillion of agency mortgage backed securities, $200 billion of agency debt by the end of the year, and $300 billion of Treasury securities.

One can only guess from these numbers that the Fed is extremely worried about the financial sector and is still trying to prop up the banks by buying their junk securities to get them off the hook.

Continue reading Bernanke is going on a buying spree with your money

Bernanke is going on a buying spree with your money originally appeared on BloggingStocks on Wed, 12 Aug 2009 17:20:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>banksbernankefeaturedfedfederal reserveFederalReservefinancial industryFinancialIndustryFOMCWed, 12 Aug 2009 17:20:00 EST<![CDATA[Bank of America, Citigroup takeover targets? Pschaw.]]>http://www.bloggingstocks.com/2006/11/24/bank-of-america-citigroup-takeover-targets-pschaw/http://www.bloggingstocks.com/2006/11/24/bank-of-america-citigroup-takeover-targets-pschaw/http://www.bloggingstocks.com/2006/11/24/bank-of-america-citigroup-takeover-targets-pschaw/#commentsFiled under: , , , ,

bank of america -- so not a takeover targetI worked at Wachovia Corporation (NYSE:WB)'s predecessor, First Union, in the heady early years of banking consolidation. My boyfriend at the time worked for the cross-town rival, NationsBank, now Bank of America Corporation (NYSE:BAC). Our bosses were married, coincidentally, so we got lots of peaks into the personalities behind some of the biggest banks in the country. At the time, I was in Loan Syndications, meaning that each month brought a new opportunity to meet & greet the local frontliners in all the world's banks -- and every time a new bank acquisition came across the pike, we had both one fewer contact and instant access into merger scuttlebutt.

Let's just say that, when I read in the Chicago Tribune about the Morgan Stanley report claiming that both Bank of America and Citigroup Inc. (NYSE:C) were leading takeover targets, I said (much like blogger Ticker Sense), what the flip? Hardly. Not only, as Ticker Sense points out, are Bank of America and Citigroup the fourth- and fifth-largest companies in the country, and as a result: entirely too big to be bought out. But, also, it's just not in their corporate personalities. Hugh McColl, longtime CEO of Bank of America and, though he's retired, a manager whose spirit will always be redolent in the corporate decision-making, is a buyer, not a seller. He and his counterparts at Citigroup have been locked in a battle of one-ups-manship to secure the title of biggest bank in the nation for years, and neither would be likely to give up said title for a little (questionable, in the huge conglomerate that would result from any acquisition) value for shareholders.

There's going to be no takeover here, not with Bank of America or Citigroup at the short end of the stick. Maybe the two company's stocks are cheap (Bank of America closed today at $54.56, a decline of 7 cents and only a dollar away from its 52-week high; while Citigroup closed at $50.31, a $0.46 decline, and also about a dollar away from 52-week high), but that says "buying opportunity" to me, not "takeover target."

Want to buy a buyout possibility? Now Wachovia ... that's a possibility.

Bank of America, Citigroup takeover targets? Pschaw. originally appeared on BloggingStocks on Fri, 24 Nov 2006 15:29:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bacbank consolidationbank consolidationsbank of americaBankConsolidationBankConsolidationsBankOfAmericabofabuyoutcitibankcitigroupdealfinancefinancial industryFinancialIndustryfirst unionFirstUnionhugh mccollHughMccollmergermorgan stanleyMorganStanleynationsbankwachoviawachovia bankWachoviaBankwbFri, 24 Nov 2006 15:29:00 EST