Saturday, March 14, 2009

HSBC and WFC sued by the NAACP

The NAACP filed lawsuits against the two banks, saying that they engaged in "systematic, institutionalized racism."

Wells Fargo said its loan terms and pricing are based on market factors, as well as "individual customer and loan circumstances." The bank also noted it had been working with the NAACP for the past two years to develop a partnership "that would benefit the NAACP, its constituents and our communities."

Has anybody checked out Goldman Sachs website lately?

Where do you think the picture from the top of the page comes from? Across the front will be the words 10,000 Women. You would almost think Goldman is a MBE! That's the difference between Goldman and the street. Unlike other banks, they don't leave things to chance.

Goldman, who advised Rohm & Haas on the merger deal with Dow Chemical, in December had changed their fiscal year for 2009 so that Q1, will be a four month quarter ending this month, instead of February, and year-end now ends at the last Friday in December, instead of the last Friday in November.

The estimated banking fees for the financing and the merger look to be about $1.5 billion. The merger closes no later than April 1.

Just in time for Goldman's quarter.

If they need it!

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