In the strange thinking that passes for logic on Wall Street, shares of Citigroup stock were expected to surge today after the company announced yet another huge quarterly loss. In fact, shortly after the announcement, the stock was up 7 percent in pre-open trading. The big bank lost $5.1 billion ($1...
Three executives from major mortgage industry companies were on the hot seat Friday as the House Committee on Oversight and Government Reform looked into executive compensation at corporations involved in the subprime mortgage-market shakeout. The committee, headed by Rep. Henry Waxman, questioned Angelo...