SEC Reaches Accord With UBS, Citigroup
December 12, 2008 by Joseph McCafferty
In a twist on current market themes, two international financial firms will actually be taking back bad investments from purchasers who were misled as to the liquidity of the purchased assets.
December 12, 2008 by Joseph McCafferty
In a twist on current market themes, two international financial firms will actually be taking back bad investments from purchasers who were misled as to the liquidity of the purchased assets.
The Litigation Onslaught
December 1, 2008 by Judy Warner
The climate for securities class-action lawsuits is as toxic today as some of the esoteric assets that took down many once high-flying Wall Street firms.
December 1, 2008 by Judy Warner
The climate for securities class-action lawsuits is as toxic today as some of the esoteric assets that took down many once high-flying Wall Street firms.
Citi’s Board: In Crisis?
November 25, 2008 by Joseph McCafferty
Since CEO Vikram S. Pandit joined Citigroup, the company has struggled to be independent. In a bailout plan with the U.S. government, Citi’s 15-member board of directors agreed to certain restrictions on and review of certain executive compensation. The bank will also put in place the Federal Deposit Insurance Corporation’s loan modification plan, similar to one it recently announced.
November 25, 2008 by Joseph McCafferty
Since CEO Vikram S. Pandit joined Citigroup, the company has struggled to be independent. In a bailout plan with the U.S. government, Citi’s 15-member board of directors agreed to certain restrictions on and review of certain executive compensation. The bank will also put in place the Federal Deposit Insurance Corporation’s loan modification plan, similar to one it recently announced.
Who’s In, Who’s Out
October 3, 2008 by Joseph McCafferty
Merrill Lynch's CEO John Thain will not be exiting after Bank of America acquires the world's largest brokerage firm. Wachovia's CEO Robert K. Steel announced that Wells Fargo acquiring Wachovia will create "one of the strongest financial firms in the world."
October 3, 2008 by Joseph McCafferty
Merrill Lynch's CEO John Thain will not be exiting after Bank of America acquires the world's largest brokerage firm. Wachovia's CEO Robert K. Steel announced that Wells Fargo acquiring Wachovia will create "one of the strongest financial firms in the world."
Citigroup to Acquire Wachovia
September 29, 2008 by Joseph McCafferty
The Federal Deposit Insurance (FDIC) announced earlier today that Citigroup will acquire the banking operations of Wachovia.
September 29, 2008 by Joseph McCafferty
The Federal Deposit Insurance (FDIC) announced earlier today that Citigroup will acquire the banking operations of Wachovia.
WaMu on the Chopping Block
September 25, 2008 by Joseph McCafferty
Federal Regulators have expedited their search for a deal for Washington Mutual, as the saving-and-loan continues to bend to mounting pressure.
September 25, 2008 by Joseph McCafferty
Federal Regulators have expedited their search for a deal for Washington Mutual, as the saving-and-loan continues to bend to mounting pressure.
Executive Pay Controls Sought for WaMu
September 24, 2008 by Joseph McCafferty
In lieu of the U.S. Treasury’s plan to fund a $700 billion bailout plan, Democrats focus on including controls on executive pay that take advantage of the taxpayers’ aid.
September 24, 2008 by Joseph McCafferty
In lieu of the U.S. Treasury’s plan to fund a $700 billion bailout plan, Democrats focus on including controls on executive pay that take advantage of the taxpayers’ aid.
Morgan Stanley Seeking Partner
September 18, 2008 by Joseph McCafferty
Both Morgan Stanley and Goldman Sachs find themselves on teetering ground as the financial markets continue to flounder. Morgan Stanley is considering merging with Wachovia or another bank to shore up its finances.
September 18, 2008 by Joseph McCafferty
Both Morgan Stanley and Goldman Sachs find themselves on teetering ground as the financial markets continue to flounder. Morgan Stanley is considering merging with Wachovia or another bank to shore up its finances.
Economic Outlook: Will the Bailout Work?
September 10, 2008 by Peter Morici
The Treasury Department has placed Fannie Mae and Freddie Mac under federal conservatorship and booted the senior management. This bailout will impose needed reforms in the companies' business practices. And, contrary to much conventional wisdom, the cost to the taxpayer may not be large - that is, if the federal government gets Wall Street to help.
September 10, 2008 by Peter Morici
The Treasury Department has placed Fannie Mae and Freddie Mac under federal conservatorship and booted the senior management. This bailout will impose needed reforms in the companies' business practices. And, contrary to much conventional wisdom, the cost to the taxpayer may not be large - that is, if the federal government gets Wall Street to help.
Need to Know: September 2008
September 1, 2008 by Directorship Editors
Delaware Supreme Court rules in boards’ favor in AFSCME v. CA Inc.; short sellers on a shorter leash; Apple unbitten; activists win CSX battle; support wanes for say on pay; more.
September 1, 2008 by Directorship Editors
Delaware Supreme Court rules in boards’ favor in AFSCME v. CA Inc.; short sellers on a shorter leash; Apple unbitten; activists win CSX battle; support wanes for say on pay; more.
Rubin is Citi’s New Senior Counselor
August 26, 2008 by Joseph McCafferty
Former U.S. Treasury Secretary Robert Rubin has been named senior counselor at Citigroup.
August 26, 2008 by Joseph McCafferty
Former U.S. Treasury Secretary Robert Rubin has been named senior counselor at Citigroup.
ARS Buybacks Ignite Battle
August 19, 2008 by Joseph McCafferty
The gloves are off as Wall Street firms that have agreed to buy back auction-rate securities battle those firms who have not.
August 19, 2008 by Joseph McCafferty
The gloves are off as Wall Street firms that have agreed to buy back auction-rate securities battle those firms who have not.
Firms Seeking Auction-Rate Deals
August 14, 2008 by Joseph McCafferty
JP Morgan Chase and Morgan Stanley are close to buying back auction-rate debt from clients. The move would settle their case with government regulators.
August 14, 2008 by Joseph McCafferty
JP Morgan Chase and Morgan Stanley are close to buying back auction-rate debt from clients. The move would settle their case with government regulators.
UBS Buying Back $20 Billion in Securities
August 11, 2008 by Joseph McCafferty
On August 8, UBS agreed to buy back nearly $20 billion in auction-rate securities from investors; a day after Citigroup reached a similar settlement with regulators for $7 billion.
August 11, 2008 by Joseph McCafferty
On August 8, UBS agreed to buy back nearly $20 billion in auction-rate securities from investors; a day after Citigroup reached a similar settlement with regulators for $7 billion.
Citigroup Working to Avert Charges
August 7, 2008 by Joseph McCafferty
Citigroup is in negotiations with state and federal regulators to resolve allegations of wrongdoing in the auction-rate-securities market. Ultimately, Citigroup could buy back several billion dollars of illiquid securities from investors and pay a significant fine.
August 7, 2008 by Joseph McCafferty
Citigroup is in negotiations with state and federal regulators to resolve allegations of wrongdoing in the auction-rate-securities market. Ultimately, Citigroup could buy back several billion dollars of illiquid securities from investors and pay a significant fine.
Companies Ignore ‘Say on Pay’ Votes
July 23, 2008 by Joseph McCafferty
Two-thirds of companies do not adopt "Say on Pay" even after a majority of shareholders support it with proxy votes, according to a recent study.
July 23, 2008 by Joseph McCafferty
Two-thirds of companies do not adopt "Say on Pay" even after a majority of shareholders support it with proxy votes, according to a recent study.
Citi Continues to Overhaul It’s Board
July 22, 2008 by Joseph McCafferty
The latest in Citigroup changes has named Lawrence Ricciardi to its board. Ricciardi served as a number of top IBM positions from 1995 to 2002.
July 22, 2008 by Joseph McCafferty
The latest in Citigroup changes has named Lawrence Ricciardi to its board. Ricciardi served as a number of top IBM positions from 1995 to 2002.
SEC Imposes ‘Emergency Order’ on Shorts
July 16, 2008 by Joseph McCafferty
The Securities and Exchange Commission took a rare step to police trading by short sellers by issuing what it called an 'emergency order' to limit short selling of 19 banking and Wall Street stocks during the crucial earnings period.
July 16, 2008 by Joseph McCafferty
The Securities and Exchange Commission took a rare step to police trading by short sellers by issuing what it called an 'emergency order' to limit short selling of 19 banking and Wall Street stocks during the crucial earnings period.
Citi to Add Risk Expert to its Board
July 9, 2008 by Joseph McCafferty
In the aftermath of huge losses, writedowns and sweeping changes in the c-suite, Citigroup is retooling its board and reportedly adding Harvard Business School Dean Jay O. Light as a director.
July 9, 2008 by Joseph McCafferty
In the aftermath of huge losses, writedowns and sweeping changes in the c-suite, Citigroup is retooling its board and reportedly adding Harvard Business School Dean Jay O. Light as a director.
Deposed AIG CEO Gets $47M
July 2, 2008 by Joseph McCafferty
American International Group paid a $47 million severance package to former CEO Martin J. Sullivan.
July 2, 2008 by Joseph McCafferty
American International Group paid a $47 million severance package to former CEO Martin J. Sullivan.