April 20, 2007 — I don’t see (subprime mortgage market troubles) imposing a serious problem. I think its going to be largely contained.
July 26, 2007 — I don’t think it [the subprime mess] poses any threat to the overall economy.
November 29, 2007 — While the difficulties in housing and credit markets and the effects of [...]
Is any observer of Wall Street surprised that a former chairman of the Nasdaq Stock Market has been charged by prosecutors for running a Ponzi scheme in which by his own estimate some $50 billion has been lost for investors? Is anyone shocked that this operation allegedly went on for years right under the collective [...]
The credit crisis has been so severe that even the largest companies in the US have had trouble getting access to the capital markets. Firms as large as GM (GM), Goodyear, and Gannett (GCI) have used credit lines to access capital which they could not get in the commercial paper market.
Small businesses are not [...]
Their quotes just a few months ago.
“I have great, great confidence in our capital markets and in our financial institutions. OUR FINANCIAL INSTITUTIONS, BANKS AND INVESTMENT BANKS, ARE STRONG. OUR CAPITAL MARKETS ARE RESILIENT. THEY’RE EFFICIENT. THEY’RE FLEXIBLE.”
– Treasury Secretary Henry Paulson, March 16, 2008
“Our policy in this administration — LAWS SHOULDN’T [...]
Wachovia to buy back auction-rate securities
Bank reaches agreement with regulators to repurchase about $9 billion
By John Spence, MarketWatch
Last Update: 8/15/2008 12:45:00 PM
BOSTON (MarketWatch) — State and federal regulators said Friday that Wachovia
Corp. has agreed to a preliminary settlement related to the sale of roughly $9
billion in auction-rate securities, the market for which collapsed earlier this
year.
Charlotte, [...]
NEW YORK (MarketWatch) - Shares of Countrywide Financial fell 13 Monday morning
after one analyst said that Bank of America should abandon plans to buy the
country’s biggest mortgage lender. He added that short of walking away from the
deal, Bank of America is almost certain to cut its offer price to as low as
nothing to $2 a [...]
Student Loan Corp To Suspend Lending At Certain Schools >STU
Last Update: 4/16/2008 9:13:31 AM
DOW JONES NEWSWIRES
Student Loan Corp. (STU) said due to dislocation in the capital markets and
recent federal legislation it will suspend lending at certain schools and
withdraw from the federal consolidation loan market.
The Citibank NA majority-owned unit said that effective May 1, it will [...]
By Gonzalo Vina and Alison Fitzgerald
April 13 (Bloomberg) — Finance chiefs from the U.S. and Europe said the eight-month credit squeeze is still festering and urged banks to take steps to relieve it.
“The chain of bad news may not have come to an end,” Italian Finance Minister Tommaso Padoa-Schioppa said yesterday as the International Monetary [...]
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