What’s the fallout of paying off TARP money when you’re really not ready? Citigroup ended up losing $7.6 billion in the 4th quarter of 2009, and Bank of America ended up reporting a loss of around $5.2 billion for the same time period. They stated that their loss was due to having to pay back […]

On the heels of the bad news from Citigroup regarding their bad 4th quarter and good news from Chase regarding their 4th quarter, I decided to combine some of the reports from the rest of the bank’s all in one post just to get it all over with certain move on to other things. Wells […]

This was expected. Citigroup announced that they had lost around $1.6 billion in the 4th quarter of 2009, mainly from trying to pay off the federal government, and that ends up giving them a loss of $7.6 billion for the year. That’s certainly not the best news for a banking system that’s trying to convince […]

The Treasury Department today gave GMAC Financial Services another $3.79 billion dollars, bringing the total amount they’ve been given to more than $16 billion and, in effect, giving the government 56% ownership in the company. Who needs a quick loan? Supposedly, this new money is to help shore GMAC up to make sure they don’t […]

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