Just months after amassing a war chest for American Energy Partners, his new drilling company, McClendon is actively trying to add to it.» Read More
The $20 billion loan JPMorgan Chase is providing to AT&T to finance the $39 billion acquisition of T-Mobile USA has raised a lot of eyebrows on Wall Street.
Assuming the deal gets the necessary regulatory approval, it will be the largest single-bank takeover financing in history. Although there have been bigger financings in the past, these are typically handled by a syndicate of banks operating together.
The dismal home sales numbers released Monday morning are the latest to illustrate a developing disconnect between consumer sentiment and behavior, on the one hand, and between business plans, on the other.
The Treasury Department’s move to start unloading its portfolio of mortgage debt likely will add one more point of pressure—albeit a small one—to a housing market hardly in a position for additional stress.
Later this month the government plans to shed about $10 billion in its $142 billion portfolio of mortgage-backed securities that were guaranteed by government-sponsored enterprises Fannie Mae and Freddie Mac. The sales then will happen incrementally over the next year or so.
Can any stock replace Citigroup at the top of the volume ticker?
Could things be getting so good in the US that even noted curmudgeon Meredith Whitney is finding reason to believe?
Answering such an improbable question requires perspective, as optimism from Whitney would be considered pessimism from most people.
The idea that bank CEO's would get richer—as a consequence of post-stress test dividends—began to spread days before the banks even announced their dividend disbursements last Friday.
"Where Will Warren Buffett Hide From Goldman Sachs?" [CNBC's Becky Quick]
AT&T deal to buy T-Mobile for $39 billion raises antitrust concerns [NYTimes DealBook]
JPMorgan is beating Goldman Sachs in M&A advice [Bloomberg]
Citigroup in reverse split, reinstates dividend [Reuters via CNBC.com]
Boeing flies its new plane [Yahoo Finance]
Listen to what happened at the Rajaratnam trial [CNBC's Scott Cohn]
There's a battle brewing in Washington that could impact the way you spend your money. I'm talking about how you use your debit card.
Nestled in the 2300 plus page financial reform was "The Durbin Amendment" which sets a price on "interchange fees"—the amount a bank charges a retailer everytime a consumer uses a debit card for a transaction. Visa and MasterCard , control 80 percent of the debit market and they set the debit interchange fee rates.
The Durbin Amendment would put a cap on interchange fees. In response to the amendment, some banks lare limiting the dollar amounts of debit card purchases or raising other feesto make up for the amount of money they are losing on a transaction.
I decided to speak with Senator Bob Corker \(R-TN\) who recently introduced a bill that would slow down the implementation of the Durbin Amendment, which is set to take effect on April 21.