Search Results for 'subprime'
Federal Reserve Bank told AIG to keep quiet over bail out
The Federal Reserve Bank of New York, which at the time was led by Timothy Geithner, told American International Group Inc. (NYSE:AIG – News) to withhold details from the public.
Now Elijah Cummings representative for the Oversight and Government Reform Committee has called for an investigation and hearing into what information was withheld according to Bloomberg [...]
Feds Agree: Bank of America to buy Merrill Lynch
Bank of America (NYSE:BAC) had the Federal Reserve’s approval to acquire Merrill Lynch (NYSE:MER) today (November 26). Back in September the Bank of America announced that it would buy the Wall Street bank for $44 billion at a time when Lehman Brothers faced collapse, investors fled and fears grew over the survival of Merrill Lynch.
The [...]
Warren Buffett wins with US Bankcorp and Wells Fargo
Warren Buffett decided to increase his stake in financial companies such as US Bancorp and Wells Fargo & Co and is reaping the benefits, the billionaires company Berkshire Hathaway Inc bank-related investments shot up 36 percent in the third quarter of 2008 as he dodged subprime lenders.
At the end of September, Buffett’s firm Berkshire ranked [...]
Goldman Sachs CEO received $68 million bonus in 2007
Goldman Sachs (NYSE:GS) top 7 leaders including Chief executive Lloyd Blankfein have given up their 2008 bonuses, according to a spokesperson for the company.
Due to Goldman Sachs poor performance, Blankfein along with the other 6 company directors asked the companies central committee who are responsible for the bonus handouts not to make any bonus payments [...]
HSBC profits up in Asia, amid talks of 600 job losses
Europe’s biggest bank HSBC Holdings Plc have announced a rise in asset sales in Asia resulting in an increase in third-quarter profits offsetting the ailing economy in America where bad loans increased.
HSBC said that in the third quarter markdowns on asset-backed securities were $4.8 billion, The London-based bank said that they set aside $4.3 billion [...]