The secondary "is a terrible deal for shareholders," says Bove. "Vikram Pandit should have never done this thing."
With the Obama administration putting new pressure on big financial firms to help power what's been an erratic economic recovery, the Treasury Department is preparing to send out a survey asking recipients of government aid to state how they used the funds.
In the after hours, the Fast Money traders were among the large number of investors gaming Citigroup's $20 billion secondary offering.
Goldman Sachs has become a bank driven by hard-charging traders like Lloyd Blankfein, who wager vast sums in world markets in hopes of quick profits—very different from the slower profit-driven model of the past, says the New York Times.
Waiting for the Citi secondary: how about a trading halt? Citi should price its secondary offering tonight, the talk remains it will likely price at least $20.5 billion (possibly more) at $3.30 to $3.35, though some think it could be as high as $3.40 (would bet against that).
With new economic data sparking inflation jitters, how should you trade Wednesday's Fed decision?
Although the economy is growing by as much as 4.5 percent in the current quarter, it’s expected to slow in 2010, well-known market analyst Abby Joseph Cohen told CNBC.
Cramer makes the call on viewers' favorite stocks.
The dollar rose on Tuesday, touching a 2-1/2-month peak against the euro, suggesting the Federal Reserve could raise interest rates sooner than anticipated. What will tomorrow’s Fed decision mean for the markets? Larry Rosenthal, president of Financial Planning Services shared his view on the dollar.
The Fast Money traders are looking at where you can hide from the landmines and uncertainty in the global economy.
Wells Fargo successfully launched its $10.6B common equity offering to repay TARP money, but not without some controversy, not of their own making.
Executive compensation, leverage limits and lending standards were all issues that Washington said it planned to change — and when the taxpayers were the shareholders of these firms, it probably could have done so. But now the White House has been left in the position of extending invitations, rather than exercising its clout. And in the figurative and literal sense, it is getting stood up.
Markets closed higher on Monday on an increased risk appetite—but opened lower Tuesday on rising inflation concerns. Jeff Mortimer, CIO of Charles Schwab Investment Management, shared his outlook for next year.
Obama needs the support and confidence of big banks to mend the economy, yet he woos them with threats and browbeating and name-calling.
Looking back at his performance during the global financial crisis of the past two years, Warren Buffett tells the Wall Street Journal, "We didn't do all the smartest things. We didn't do anything really dumb."
The big banks have rebounded very strongly since the early March lows and investors are trying to see if the trend will continue into 2010. Fred Cannon, co-director of research and chief equity strategist at KBW shared his outlook on the sector.
Big financial institutions that have survived government bailouts, as well as regional banks that swallowed weaker rivals, are best-positioned to succeed in 2010, according to a Keefe, Bruyette & Woods.
The U.S. pay czar on Friday issued his latest crackdown on bailout recipients, ruling that cash salaries will be mostly limited to $500,000 for the next tier of top earners.
Wells Fargo has joined a growing list of banks that are exploring options to return government bailout money, CNBC has learned.
As end of the year approaches, investors look ahead to 2010 and where they can invest their money. Robert Weissenstein, Credit Suisse's chief investment officer for private banking—Americas, shared his outlook.