He’s right, this a Grand Casino, not for investors. Nobody in their right mind would invest in this mess. This a place to steal money and speculate. It’s fun and exciting. No one will ever trust the stock market again. You could be wiped out in a day. People invested for 10 years and have [...]
Oct. 23 (Bloomberg) — Hundreds of hedge funds will fail and policy makers may need to shut financial markets for a week or more as the crisis forces investors to dump assets, New York University Professor Nouriel Roubini said.
“We’ve reached a situation of sheer panic,” Roubini, who predicted the financial crisis in 2006, said [...]
By Tom Randall and Jamie McGee
” Sept. 26 (Bloomberg) — Wall Street’s five biggest firms paid more than $3 billion in the last five years to their top executives, while they presided over the packaging and sale of loans that helped bring down the investment-banking system.
Merrill Lynch & Co., once the largest U.S. [...]
SAN FRANCISCO (MarketWatch) — In the largest bank failure in U.S. history, Washington Mutual Inc. succumbed Thursday to the fallout from the subprime mortgage crisis, was seized by federal regulators and rapidly acquired by J.P. Morgan Chase .
The deal will cost JPMorgan Chase $1.9 billion, and the bank said in a statement it planned to [...]
NEW YORK/WASHINGTON (Reuters) - Washington Mutual Inc was closed by the U.S. government in by far the largest failure of a U.S. bank, and its banking assets were sold to JPMorgan Chase & Co for $1.9 billion.
The rescue marks a historic step to clean up a U.S. financial system littered with toxic mortgage debt.
Washington Mutual, [...]
Lehman, Merrill shut the door
Commentary: Job cuts, smaller bonuses and scorn on tap until yearend
By MarketWatch
Last Update: 8/28/2008 3:15:00 PM
NEW YORK (MarketWatch) — If America has any pity left for the Wall Street
banker, it was directed Thursday at the bankers of Lehman Brothers Holdings Inc.
Reports said the battered Lehman (LEH) is planning to cut 1,500 [...]
Paulson, in other words, raised the specter of “moral hazard,” or the
government’s inadvertent promotion of reckless lending, trading and other risky
behavior by guaranteeing that banks won’t be allowed to fail. And he risked
bringing up his own Wall Street lineage to bring home the point.
When the Treasury and its central bank opened the Primary Dealer Credit [...]
CORRECT: Lehman Is Not Cutting Dividend, Already Raised $6B
Last Update: 6/16/2008 4:32:27 PM
(Adds conference call comments from CEO Fuld and other executives beginning in
the first paragraph and updates stock price.)
By Jed Horowitz
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)–Lehman Brothers Holdings Inc.(LEH) announced a $2.8 billion
second-quarter loss Monday that [...]
SEC’s Cox: Wall Street’s Capital-Raising Is ‘Healthy Trend’
Last Update: 6/10/2008 1:03:48 PM
By Judith Burns
Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)–Wall Street’s regulator said Tuesday he welcomed efforts
by investment banks to raise capital, calling it “a healthy trend.”
“We have been encouraging each of the major investment banks to strengthen their
balance [...]
Posted by Heidi N. Moore
Lehman Brothers Holdings Inc. (LEH) has, so far, done everything right in order
to prevent an extended market panic: it announced its earnings early, came clean
about its first loss as a publicly traded company and showed it could be
well-capitalized by raising $6 billion in new capital: $4 billion [...]
CORRECT: Ambac Bond Claims Not On Countrywide Loans
Last Update: 5/9/2008 2:58:20 PM
Ambac Financial Group Inc. (ABK) had examined two transactions that contained
loans originated by Bear Stearns Cos. (BSC) and First Franklin Corp. (FFHS).
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Pearl River Delta repositioned as China’s “reform test field”
The number that scares me the most is the number we can’t get.
“Lyin’ [...]
U.S. stocks set to face a less-friendly Fed
First-quarter GDP, employment report, earnings could test market
By Nick Godt, MarketWatch
Last Update: 12:01 AM ET Apr 26, 2008
NEW YORK (MarketWatch) — U.S. stocks will face renewed pressure next week, with
investors facing not only another heavy week of earnings, but also key data that
may confirm the U.S. economy is [...]
Arbitrage Spreads On Pending Mergers & Acquisitions -5-
Last Update: 4/25/2008 10:13:33 AM
The following provides information on selected mergers and acquisitions. All
figures are updated by Dow Jones Newswires, with share prices as of 10 a.m.
Friday EDT.
Annualized rate of return is based on Friday’s date and the expected closing date
and isn’t compounded. Expected closing dates are compiled [...]
Among the companies whose shares are expected to see active trade in Wednesday’s
session are Intel Corp. (INTC), Merrill Lynch & Co. (MER), JPMorgan Chase & Co.
(JPM) and Washington Mutual Inc. (WM).
Intel Corp. (INTC) posted a 12% drop in first-quarter profit, but indicated that
healthy demand for its widely used microprocessors is offsetting recent problems
in memory chips. [...]
WASHINGTON (AP)–A deep recession could force mortgage-finance titans Fannie Mae
(FNM) and Freddie Mac (FRE) to require a federal bailout large enough to hurt the
U.S. government’s top-grade credit rating, Standard & Poor’s warned Monday.
A lower credit rating would mean higher borrowing costs for the U.S. government
and could lead to a flight from Treasury securities, which investors [...]
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