Value of WaMu debt set at 57 cents on the dollar
Sellers of default protection on bankrupt thrift to pay 43 cents on the dollar
By Alistair Barr, MarketWatch
Last Update: 10/23/2008 3:48:00 PM
SAN FRANCISCO (MarketWatch) — An auction set the value of Washington Mutual
bonds for the huge credit default swap market on Thursday.
The auction set the value [...]
By Alistair Barr
SAN FRANCISCO (MarketWatch) — American Express said late Monday that quarterly net income came in at $815 million, or 70 cents a share, down 24% from a year earlier when the credit card company made $1.07 billion, or 90 cents a share. Income from continuing operations was $861 million, or 74 cents a [...]
New York state to regulate part of CDS market
By Alistair Barr, MarketWatch
Last Update: 9/22/2008 7:05:00 PM
SAN FRANCISCO (MarketWatch) -Gov. David Paterson said Monday that New York will
begin regulating part of the $62 trillion credit default swap market next year
because a lack of regulation in that area of finance has contributed to the
current credit crisis.
At Paterson’s [...]
AIG shares on course for record slump
Insurer hammered over potential downgrades, capital needs
By Alistair Barr & John Spence, MarketWatch
Last Update: 9/12/2008 3:28:00 PM
SAN FRANCISCO (MarketWatch) — American International Group shares were on course
for a record slump Friday on concern the world’s largest insurer may be
downgraded by ratings agencies, triggering billions of dollars in new capital
needs.
AIG [...]
B. of A. to settle auction-rate securities probes
By Alistair Barr, MarketWatch
Last Update: 9/5/2008 12:59:00 PM
SAN FRANCISCO (MarketWatch) — Bank of America Corp. said Friday that it is close
to settling probes into its actions in the defunct auction-rate securities
market.
The bank has been working for nearly a month with the New York attorney general’s
office and the Massachusetts [...]
Lehman sells assets, cuts leverage
But questions linger as broker remains heavily exposed to risky assets
By Alistair Barr, MarketWatch
Last Update: 6/9/2008 6:20:00 PM
SAN FRANCISCO (MarketWatch) — Lehman Brothers said on Monday that it sold $130
billion of assets in recent months, reducing leverage, but analysts and others
said questions remain about the brokerage firm’s illiquid holdings and how [...]
Ambac shares hit record low after new disclosure
Bond insurer reports CDO write-downs, claim payments from April
By Alistair Barr, MarketWatch
Last Update: 2:56 PM ET May 28, 2008
SAN FRANCISCO (MarketWatch) — Ambac Financial shares fell to a record low on
Wednesday after the bond insurer disclosed new information about its operations
in April.
Ambac reported $228 million of write-downs during [...]
Banks, brokers fall on gloomy consumer data
By Alistair Barr, MarketWatch
Last Update: 11:43 AM ET May 16, 2008
SAN FRANCISCO (MarketWatch) — Bank and brokerage shares fell in early trading
Friday, coming under pressure amid unexpectedly gloomy consumer-sentiment data.
In addition, Standard & Poor’s spelled out the degree to which financial-services
companies have acted as an earnings drag on the [...]
AIG drops off Goldman Sachs’ buy list
Giant insurer’s shares have lost past ‘premium’ valuation, analysts say
By Alistair Barr, MarketWatch
Last Update: 5:47 PM ET May 12, 2008
SAN FRANCISCO (MarketWatch) — American International Group Inc. shares dropped
off a list of recommended stocks maintained by Goldman Sachs on Monday, based on
concern the company has lost its standing as [...]
MBIA loses $2.4 billion on write-downs; shares gain
Insurer has $800 mln of actual losses, funnels $900 mln to bond insurance unit
By Alistair Barr, MarketWatch
Last Update: 4:16 PM ET May 12, 2008
SAN FRANCISCO (MarketWatch) — MBIA Inc. reported a $2.4 billion first-quarter
net loss on Monday and said it will pump $900 million into its main bond
insurance [...]
AIG may have huge gains in second quarter: analyst
A big chunk of first-quarter losses have already reversed, FBR analyst says
By Alistair Barr, MarketWatch
Last Update: 5:11 PM ET May 9, 2008
SAN FRANCISCO (MarketWatch) — American International Group could report “huge”
gains from the second quarter because of a rally in credit markets since the end
of March, Bijan [...]
Buffett calls Iscar ‘dream’ acquisition
By Alistair Barr, MarketWatch
Last Update: 12:22 PM ET May 3, 2008
OMAHA, Neb. (MarketWatch) — Berkshire Hathaway Inc. Chairman Warren Buffett said
on Saturday that the company’s acquisition last year of the Israeli firm Iscar
has worked out better than expected.
Buffett said that he had very high expectations when Berkshire struck the deal,
and that [...]
Citigroup to raise $3 billion selling new stock
By Alistair Barr, MarketWatch
Last Update: 7:58 PM ET Apr 29, 2008
SAN FRANCISCO (MarketWatch) — Citigroup Inc. said late Tuesday that it is
raising $3 billion selling new shares as the financial-services giant tries to
rebuild capital after huge losses from the credit crunch.
Citi (C) said that the offering of new [...]
Ambac gains on Moody’s cautious assessment
Goldman expects Ambac and MBIA to raise another $3.4 billion each
By Alistair Barr, MarketWatch
Last Update: 4:22 PM ET Apr 24, 2008
SAN FRANCISCO (MarketWatch) — Ambac Financial shares rallied more than 7% on
Thursday after influential ratings agency Moody’s Investors Service issued a
cautiously supportive assessment of the bond insurer’s huge quarterly loss. [...]
Libor jumps anew; bank group accelerates review
By Alistair Barr & Lisa Twaronite, MarketWatch
Last Update: 5:22 PM ET Apr 18, 2008
SAN FRANCISCO (MarketWatch) — A closely watched measure of global borrowing
costs surged again Friday, reflecting continued concerns about the accuracy of
the London interbank offered rate, or Libor.
Three-month Libor in U.S. dollars jumped nine basis points to [...]
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