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Daily Archives: September 14, 2008

Data

World’s Largest Banks Create A Fund To Save One Another

Posted: September 14, 2008 at 10:26 pm

We few, we happy few, we band of brothers;     For he to-day that sheds his blood with me     Shall be my brother; be he ne'er so ...
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Paulson Gloats

Posted: September 14, 2008 at 9:59 pm

No one likes a sore loser and there will be plenty of those among the executives at banks and brokerage firms that will fail or be sold.A gloating winner is ...
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Merrill_4

Merrill Lynch (MER), Sucked Under By Crisis, Is Ruined By The Value Of One Home

Posted: September 14, 2008 at 9:38 pm

Merrill Lynch (MER) is gone, sold to Bank of America (BAC) for $44 billion. That is $29 a share, well below its 52-week high of $79, but above the $17 ...
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Merrill_3

Merrill Lynch (MER) Board May Be About To Approve Bank Of America (BAC) Takeover

Posted: September 14, 2008 at 6:25 pm

The Wall Street Journal is reporting that the board of Merrill Lynch (MER) is meeting to approve a $29 a share takeover offer from Bank of America (BAC).If the deal ...
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Fed

Big Banks Work On Slush Fund To Save Smaller Firms

Posted: September 14, 2008 at 6:17 pm

Several of the world's largest banks on working on assembling a $50 billion fund to offer capital to weaker financial companies as firms like Lehman (LEH), Merrill Lynch (MER), and ...
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Angrybear_2

New York Times Reports Lehman (LEH) Will Go Bankrupt

Posted: September 14, 2008 at 6:03 pm

The New York Times is reporting that Lehman (LEH) will file for bankruptcy protection tonight.The paper writes that "Lehman will seek to place its parent company, Lehman Brothers Holdings, into ...
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Merrill_2

Bank Of America (BAC) To Buy Merrill Lynch (MER) For $26 A Share?

Posted: September 14, 2008 at 5:59 pm

The latest rumor in the swirl of news around the probable failure of Lehman (LEH) is that Bank of America (BAC) will buy Merrill Lynch for $26 a share. The ...
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House

Pimco’s Gross Sees Market Meltdown

Posted: September 14, 2008 at 5:20 pm

Bond king Bill Gross of Pimco believes that a failure of Lehman (LEH) will lead to "the risk of an immediate tsunami.. related to the unwind of derivative and swap-related ...
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Electronic Arts (ERTS) Walks Away From Take-Two (TTWO)

Posted: September 14, 2008 at 4:21 pm

Take-Two Interactive (TTWO) chairman Strauss Zelnick overplayed his hand. He continued to refuse a buyout bid from larger game company Electronic Arts (ERTS). Now Take-Two shareholders will pay for Zelnick's ...
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Aig

AIG (AIG) To Dump Assets To Save Itself

Posted: September 14, 2008 at 4:08 pm

AIG (AIG) will sell several divisions to raise the capital it needs to stay independent. According to The Wall Street Journal the big insurance company "plans to disclose a comprehensive ...
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Merrill

Bank Of America (BAC) In Talks To Buy Merrill Lynch (MER)

Posted: September 14, 2008 at 3:18 pm

Convinced that a Lehman (LEH) Chapter 11 could cause huge losses for other large financial institutions, the weakest players have become desperate to find partners or buyers. According to The ...
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Lehman (LEH) Chapter 11 Could Occur Today, Financial Stocks Could Open Off 20%

Posted: September 14, 2008 at 3:11 pm

Several media reports say that large financial firms are trying to reduce their risk to deals that they have with Lehman (LEH) in the event that the firm begins a ...
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Angrybear

Rumor: Barclays (BCS) Pulls Out Of Lehman (LEH) Bid

Posted: September 14, 2008 at 2:57 pm

After appearing to be the front-runner for buying Lehman (LEH), rumors say that Barclays (BCS) has dropped out of the bidding completely.The reason seems to be that the federal government ...
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Lehman_brothers

Lehman (LEH): Barclays Now Most Likely Bidder

Posted: September 14, 2008 at 7:14 am

Sorting out the potential aspects of a rescue of Lehman (LEH) has become like working on the puzzle of a Rubik's Cube. The front runner in the bidding is probably ...
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