The Real Reason for The Rescue: JPM and Citi Have $2.96 Trillion in Exposure to CDS

The Real Reason for The Rescue: JPM and Citi Have $2.96 Trillion in Exposure to CDS

JPMorgan Chase and Citibank Have $2.96 Trillion in Exposure to Credit Default Swaps. According to the most recent report from the regulator of national banks, the Office of the Comptroller of the Currency (OCC), JPMorgan Chase has exposure to $1.2 trillion in...
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Key Points of $2 Trillion Stimulus Package

Key Points of $2 Trillion Stimulus Package

While it will take some time to sort through all the pork contained in the massive $2 trillion coronavirus legislation negotiated between the Trump administration and Congressional leaders early Wednesday, here are some of the major provisions. The bill &#8211...
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Boeing Seeks “A Minimum $60 Billion” Government Bailout

Boeing Seeks “A Minimum $60 Billion” Government Bailout

Aerospace giant Boeing seeks “a minimum $60 Billion” government bailout after fully drawing-down $13 Billion credit line. This bailout demand comes after the company blew nearly $100 billion on  stock buybacks since 2013helping push its stock to...
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Global Liquidation Continues Despite Massive Monetary Intervention

Global Liquidation Continues Despite Massive Monetary Intervention

Federal Reserve cuts rates to zero and launches massive $700 billion quantitative easing program i.e. QE5. US Futures were halted limit-down overnight, and when cash markets opened, they were halted (down over 7%) before rallying all the way back up...
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FED Unveiled $3 Trillion Repo Bailout, Expands “Not QE4” To Genuine QE5

FED Unveiled $3 Trillion Repo Bailout, Expands “Not QE4” To Genuine QE5

After increases in its repo facility twice already this week, from $100billion to $150billion to $175billion per day, and adding added a new 1-month term repo facility, the New York Fed just stunned the market and fired its biggest bazooka...
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Banks, Big Oil, Boeing Stocks Crashed Spectacularly, Biggest Crash Since Lehman Event

Banks, Big Oil, Boeing Stocks Crashed Spectacularly, Biggest Crash Since Lehman Event

When two black swans collide and third is en route. Folks, it is just warm-up lap. $2.5 Trillion wiped out as world stocks crash most since 2008. Bank of America, Citigroup, Deutsche Bank, Commerzbank down 14 percent, British Petroleum crashed...
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Boston FED’s Rosengren Revealed FED May Soon Have To Buy Stocks

Boston FED’s Rosengren Revealed FED May Soon Have To Buy Stocks

Three weeks ago, former FED Chair Janet Yellen incepted the idea that during the next crisis, the FED should consider expanding the range of assets it would purchase, most notably buying stocks. Well, thanks to experiments conducted in a Chinese BSL-4...
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Cutting Rates Is Now About As Relevant As Painting A Sinking Ship

Cutting Rates Is Now About As Relevant As Painting A Sinking Ship

The bear market rally probably didn’t persuade anyone the epidemic crisis is over. Nevertheless there are a surprising number of articles saying manufacturing production is recovering rapidly in China – although the weather satellites show rising NOx ...
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Chevron Plans to Return $80 Billion to Shareholders Over Five Years

Chevron Plans to Return $80 Billion to Shareholders Over Five Years

As era of oil is gradually ending, Chevron on Tuesday revealed plans to pay out as much as $80 billion in dividends and share buybacks over the next five years despite the recent sharp decline in oil prices that inevitably will...
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Morgan Stanley Buys E-Trade For $13 Billion

Morgan Stanley Buys E-Trade For $13 Billion

Tired of being outmaneuvered by its formidable longtime rival, Goldman Sachs, Morgan Stanley has epically one-upped the Vampire Squid with a deal to buy E*Trade Financial Corp. in what would be the largest takeover by major US bank since the...
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Franklin Resources To Purchase Legg Mason, Forming $1.5 Trillion AUM Giant

Franklin Resources To Purchase Legg Mason, Forming $1.5 Trillion AUM Giant

Franklin Resources To Purchase Legg Mason, Forming $1.5 Trillion Assets Under Management Giant Franklin Resources Inc. announced Tuesday that it has entered into a definitive agreement to acquire Legg Mason, Inc. for $50 per share, or about $4.5 billion, in...
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T-Mobile Wins Court Approval for $26.5 Billion Sprint Deal

T-Mobile Wins Court Approval for $26.5 Billion Sprint Deal

T-Mobile US Inc. won court approval for its $26.5 billion takeover of Sprint Corp., defeating a state-led lawsuit that sought to block the industry-altering wireless deal. Shares of Sprint soared 66% to $7.95. The decision by a district judge in Manhattan...
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Chevron loses $6.6B after huge writedown of North American shale

Chevron loses $6.6B after huge writedown of North American shale

Chevron posted a massive fourth-quarter loss after taking $10.4 billion worth of writedowns related to North American shale projects. The San Ramon, California-based oil giant lost $6.6 billion, or $3.51 a share, in the three months through December as reve...
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General Electric Is Considering Sale of Steam Turbine Unit to Raise Cash

General Electric Is Considering Sale of Steam Turbine Unit to Raise Cash

General Electric (ticker: GE) shares fell as a report said the industrial giant plans to explore a sale of its steam-turbine power business. Desperate GE is weighing whether to sell its hopeless steam-turbine unit as CEO Larry Culp mulls ways to raise...
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US Spy Plane Bombardier E-11 BACN Crashed In Taliban Controlled Area Of Afghanistan

US Spy Plane Bombardier E-11 BACN Crashed In Taliban Controlled Area Of Afghanistan

Airliner crash originally reported by Afghan media now appears to be a USAF spy aircraft. Wreck of plane crashed today in Afghanistan looks like to be a USAF Bombardier Global Express 6000 / E-11A “BACN” (Battlefield Airborne Communications Node). ...
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