The Brits still think we are being too tough on BP: The crisis engulfing BP has plumbed new depths as President Obama bullied the company into depositing £13.5billion into a fund to settle compensation claims for the calamitous Gulf of Mexico oil spill. Bullied? Sorry, but BP has been doing the bullying by giving victims […]
It looks like the U.K. has a “to big to fail” problem also, except this time it’s in the oil industry: In that atmosphere, the stream of condemnations from Washington has stirred a protective backlash, even in this closest of American allies. Boris Johnson, the Conservative mayor of London, said Thursday that he was worried […]
Citigoup’s stock closed at $4.71 today, down 26.39%. That pushes them below the $5 threshold, which is generally a big trigger for massive selling: Most institutional investors and pension funds are barred from owning stocks below $5. So if Citigroup’s stock remains below that level, it could trigger a wave of selling that would send […]