12 matches for “December 2009” found in “All Matches”
Repaying U.S. and Reaping Bounty in Fees
Here comes another payday on Wall Street, just in time for the holidays.
No, I’m not talking about the big bonuses you’ve been reading about already.
I mean a new one, courtesy of companies like Citigroup, Wells Fargo and Bank of America returning their federal bailout money and raising new capital to replace it.
And that means big fees for all the banks that will hawk these new shares for themselves and their rivals.
More than $50 billion of new capital was raised as part of the effort by the biggest banks to repay the money from the Troubled Asset Relief Program and get out from under the thumb — and pay caps — of Washington.
All told, December was the biggest month in history for offerings, according to Thomson Reuters.
It’s Tax Time for the Savvy and the Quick