Citigroup Shares Fall to the $3 Range (C)

Citigroup-bldg-logo.jpg

Citigroup Inc. (NYSE:C) shares have fallen below the crucial $4 support level getting as low as $3.87 during today's trading session.  Heading into the lunch hour Citi shares are trading close the normal volume but shares are right at $3.90.

Too Big to Fail, or Too Big to Punish? (NYSE: C),(NYSE: BAC),(NYSE: AIG)

Citigroup - Corporate Office

Too big to fail, how about too big to punish?  Apparently there is some sentiment that some of the largest firms have received SEC get-out-of-jail cards in recent years.  Names mentioned include Citigroup Inc. (NYSE:C), Bank of America Corporation (NYSE:BAC) and American International Group, Inc. (NYSE:AIG).

Bank of America: Why Pay Back the TARP? (NYSE:BAC)

Bank of America (NYSE:BAC)

Why would Bank of America Corporation (NYSE:BAC) want to pay back the $45B in TARP?  If you are reading this, you are probably well familiar with the Acronym TARP, Trouble Asset Relief Program.  It is essentially the bank bailout by the government. 

TARP Banks versus Enron? (NYSE: C),(NYSE: BAC),(NYSE: WFC)

Citigroup - Corporate Office

Nomi Prins breaks down big banks' SEC filings, including Citigroup Inc. (NYSE:C), Bank of America Corporation (NYSE:BAC) and Wells Fargo & Company (NYSE:WFC).  Seems she is reviewing them for accounting games, and given that taxpayers are on the hook for hundreds of billions, wonders if it is worse than Enron?

Big Banks Poised for Big Gains (NYSE: JPM),(NYSE: WFC),(NYSE:BAC)

Bank of America Bullish Case (NYSE:BAC)

If you are sitting on the sidelines, paralyzed with fear about investing in some big banks, then think about this…  JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Company (NYSE:WFC), and Bank of America Corporation (NYSE:BAC) are the leading commercial banks in America. 

Today's Volume Leaders: Citi, SPY, BofA, and Sprint (C, BAC, SPY, S)

NYSE Floor - Traders

Volume on the major exchanges is light today but as usual leading the charge is Citigroup Inc. (NYSE:C) followed by the SPDR S&P 500 (ETF) (NYSE:SPY), Bank of America (NYSE:BAC) and Sprint (NYSE:S).

Sprint Joins the Monday's Volume Leaders (S, C, BAC)

NYSE Floor - Traders

Sprint Nextel Corp. (NYSE:S) shares are on fire today up 11% and have already passed its daily volume of 58 million shares.  Sprint joins Citigroup (NYSE:C) and Bank of America (NYSE:BAC) this morning as the No. 3 most heavily traded stock on the NYSE.

Big Banks May Benefit from Fannie (NYSE: C),(NYSE: BAC),(NYSE: WFC)

Citigroup-bldg-logo.jpg

As Fannie Mae moves to start a program to lease homes back to homeowners near foreclosure, banks like Citigroup Inc. (NYSE:C), Bank of America Corporation (NYSE:BAC) and Wells Fargo & Company (NYSE:WFC) will benefit. 

Citi and BofA May Lose from Overdraft Fee Ruling (NYSE: C), (NYSE: BAC)

Citigroup - Corporate Office

Could some of the big banks like Citigroup Inc. (NYSE:C) and Bank of America Corporation (NYSE:BAC) have to say goodbye to their share of the $38B overdraft fee business?  The Fed has adopted strong rules prohibiting overdraft fees on ATM/debit card transactions unless the consumer opts in to the protection. 

Citi (NYSE: C) and BofA (NYSE: BAC) are Getting Back on Track

Citigroup - Corporate Office

It seems that Citigroup Inc. (NYSE:C) and Bank of America Corporation (NYSE:BAC) are getting back on track.  The Fed released a statement that 9 of 10 banks identified in the Bank Stress Test as needing more capital as a buffer have complied. 

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