If there’s one thing that concerns everyone it’s a threat to their capital.
BAC is in tentative talks with the U.S. Department of Justice (aka the Obama Mafioso Collection Agency) to pay between $16 billion to $17 billion for its part in selling shoddy mortgages, or originating them, or packaging them, or being a TBTF bank that wasn’t allowed to fail but now has to pay the piper.
We all know what makes a good CEO – a leader that keeps shareholders happy with steady growth, fattening profits, and, for good measure, rising dividends.
Facing rampant inflation and a shortage of dollars, Venezuela’s state-owned oil company, Petróleos de Venezuela SA (PDVSA), is looking to sell its Citgo assets for $10 billion.
Last week the U.S. Government Accountability Office (GAO) released a report titled “Large Bank Holding Companies: Expectations of Government Support.”
And wouldn’t you know it – all the “Too Big to Fail” banks broke out their crack pipes.