National City

PNC Buys National City For $5.2b Using Treasury Funds

PNC Bank is showing other banks the advantages of capital infusion component of the Treasury’s TARP plan. They’re buying National City Bank for $5.2b which, it can be argued is fully-taxpayer funded since PNC received $7.7b in Treasury’s first round of bank re-capitalizations. This is exactly what Treasury wanted to happen: for banks to take

Mixed Bank Earnings, Rates Down on Jobless Claims

What time of day am I most likely to have a heart attack? Answer, per a Harvard study, is that the most dangerous times for heart attack, and for all kinds of cardiovascular emergency, are the morning and during the last phase of sleep. The risk averaged 40% higher of having a heart attack between

Oil At $130, Banco Popular Exits Broker Lending, Rates Up Slightly

What do oil prices and Clinton’s campaign bills have in common? They’re both increasing dramatically. According to the LA Times, Hilary Clinton’s campaign debt has now soared to nearly $31 million, including another $9.5 million in unpaid bills to vendors this past month alone. And oil rose above $130 a barrel for the first time

Wells Fargo To Buy National City?

The San Francisco Business Times reported that Wells Fargo is evaluating acquisition opportunities. In addition to posturing for Fed support by saying “I would not be averse to a Fed-assisted transaction,” Wells CEO John Stumpf said that National City is a target. Stumpf’s comment about Fed intervention is at worst jealousy about JP Morgan Chase