Auction-rate settlements leave investors hanging
By Sam Mamudi, MarketWatch
Last Update: 8/18/2008 10:20:00 AM
NEW YORK (MarketWatch) — Despite the recent rash of auction-rate securities
settlements between regulators and the Wall Street banks, investors shouldn’t
hold their breath waiting to be cashed out.
For all the excitement of the past week, the narrow terms of the agreements mean
that only investors who [...]

UPDATE: Senator Seeks Higher Fines For Banks In ARS Cases
Last Update: 8/15/2008 6:35:44 PM
(Updates with Citigroup’s no comment, and hypothetical example from Grassley
about a potential fine and tax effect.)
By Martin Vaughan
Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)–A senior Republican senator wants the Securities and
Exchange Commission to ensure that banks [...]

DOW JONES NEWSWIRES
A “global” settlement with Wall Street investment banks that sold auction-rate
securities to customers who may have been misled about the bonds is “imminent”
and could be announced as early as Wednesday, CNBC’s Charlie Gasparino reported,
citing sources familiar with the matter. The settlement would involve the New
York State Attorney General’s Office, [...]

Soft Credit-Card ABS Market May Add To Consumer Credit Woes
Last Update: 8/5/2008 7:38:00 AM
By Aparajita Saha-Bubna and Prabha Natarajan
Of DOW JONES NEWSWIRES
(This article was originally published Monday)
NEW YORK (Dow Jones)–Investors are growing wary of bonds backed by consumers’
payments on their credit-card debt, jamming up another debt market and [...]

Four US Banks To Launch Covered-Bond Mkt Programs
Last Update: 7/29/2008 7:35:00 AM
(This article was originally published Monday)
By Meena Thiruvengadam
Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)–Four of the U.S.’s leading banks are joining a government
effort to promote the development of a covered-bond market.
Bank of America Corp. (BAC), Citigroup Inc. (C), JPMorgan Chase & [...]

Merrill’s Fire Sale Might Leave A Lot Of Fingers Burned
Last Update: 7/29/2008 9:03:18 AM
By Andrew Dowell and Ed Welsch
Of DOW JONES NEWSWIRES
Merrill Lynch & Co.’s (MER) fire sale of toxic assets might burn some other
fingers on Wall Street.
In the world of complex and infrequently traded securities, the venerable
investment [...]

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 [...]

Justices Pare Holdings But Still Hold Numerous Stocks
Last Update: 6/6/2008 3:06:17 PM
By Mark H. Anderson and Christina M. Wright
Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)–Several U.S. Supreme Court justices sold a handful of
individual stock holdings in 2007, but some justices continue to hold numerous
investments requiring recusals if appeals involving [...]

Citigroup Receives 1st Round Of Bids For Primerica -Reuters
Last Update: 6/6/2008 12:32:38 PM
DOW JONES NEWSWIRES
Citigroup Inc. (C) has received its first round of bids for its Primerica unit,
Reuters reported Friday, citing sources. The unit has drawn interest from life
insurance and private equity companies. The value of the unit is about $7 billion
and a deal could [...]

S&P affirmed its ‘AA-/A-1+’ credit rating on Citigroup Inc. and its ratings on Citigroup’s units. Standard & Poor’s also said that it removed all these ratings from CreditWatch, where they were placed on April 15, 2008, with negative implications. The outlook on all these companies is negative. “Despite the challenges facing Citigroup over the next [...]

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