Ken Thomas News
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The mortgage-bond market that David Tesher had described as “a wildly spinning top” was about to tumble when he convened a meeting at Standard & Poor’s Water Street headquarters in New York in March 2007.
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Federal Reserve officials in August 2007 saw the beginnings of the crisis in subprime mortgages and concluded that the U.S. economy would be able to withstand it, even as some Fed members warned that it could trigger a downturn, transcripts from their 2007 meetings show.
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Citigroup Inc. , the third-largest U.S. bank, says it will open 200 branches and target foreign- born customers to help turn around its domestic retail bank.
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Citigroup Inc. Chief Executive Officer Vikram Pandit , who for the past two years has championed the U.S. bank’s “globality,” may be getting a new mantra: locality.
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Citigroup Inc. Chief Executive Officer Vikram Pandit , who for the past two years has championed the U.S. bank’s “globality,” may be getting a new mantra: locality.
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BankUnited Inc., Florida’s second- biggest bank, decided to remain independent after receiving takeover offers that fell short of the board’s expectations.
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Citigroup Inc. Chief Executive Officer Vikram Pandit , who for the past two years has championed the U.S. bank’s “globality,” may be getting a new mantra: locality.
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Bank of America Corp., the largest U.S. bank, will sell its stake in Banco Santander SA’s Mexican unit for $900 million more than it paid in 2003, marking the lender’s fourth major asset sale this year.
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