It is 12:00 AM EDT and there is no word from Cit about whether they intend to file a lawsuit to block the proposed merger of Wachovia and Wells Fargo and Wachovia. Let’s hope that the FDIC has interviened and talked some sense into Citi. Recent history has shown that usually by now there would [...]
After an entire weekend of discussion and political maneuvering, it appears as if congress is set to vote on an approximately $700 billion package to help restructure the US Financial System and loosen up the Capital Markets in this country. The package has been modified slightly from the proposal that Henry Paulson, US Treasury Secretary, [...]
The ancient Chinese verse “May we live in interesting times” sure sums up the last 10 days on Wall Street. Again, over the weekend, actually, yesterday, the last two Wall Street investment banks applied to the US Federal Reserve to become Bank Holding Companies. Goldman Sachs and Morgan Stanley both approached the fed on Sunday and [...]
What a week we just had on Wall Street. I believe I speak for a lot of people when I say, in my lifetime, I never thought I would see some of the chaos that ensued last week on Wall Street. One event that brought a lot of attention to itself; the hastily assembled deal [...]
