By John Tamny, RealClearMarkets Chairman Henry Gonzalez (D-Texas) and his committee are taking us back to 1980, when former Chairman Fernand St. Germain boosted deposit insurance to $100,000 an account (from $40,000) in the…
Huntsman Corp. (NYSE: HUN) is seeing explosive trading in its stock this morning before the open. It appears that the private equity merger which was called off, then ruled as an improper break-up, may…
ArcelorMittal (NYSE: MT) is trading higher in overseas trading this morning based upon its investor presentation today. The steel giant is reaffirming that its third quarter EBITDA will be in excess of $8.5 billion…
If you think things are bad here in the U.S., Iceland is experiencing something far worse. The country is on the verge of teetering, it is nationalizing its banks, and it is on the…
It is a bit surprising when you see a firm like Goldman Sachs downgrade many key steel stocks after their shares have fallen by so much. That is what we are seeing this morning. …
In what will probably be viewed as bad news by most people, Gap’s (GPS) same-store sales dropped 11% last month. And the chain sells dirt-cheap clothes. Net sales dropped 6% to $1.34 billion. So…
The ban on short sales in financials and companies tied to financials has ended. Beginning this morning, investors will be able to bet against these companies. While the experiment was meant to curb the…
It would not be a good idea to look at IBM’s (IBM) superior earnings and assume that tech will have had a good third quarter and that the rest of the year looks super.…
The most wonderful thing about the current financial crisis is that it is a monument to human optimism. Every day executives and government officials signal that things may be getting better. Everyday they get…
It did not take long for the bailout of AIG (AIG) to dissolve into chaos. Just two weeks after the Fed put $85 billion into the failing insurance company, the new management asked for…
Henry Paulson watched the Brits come up with a new plan to save the banking system before he did. He is probably embarrassed by that. He and Bernanke seemed to have a big lead…
According to Reuters, the US Treasury may buy interests in large banks following the model set up by the UK. Reuters reports that IBM’s (IBM) earnings strength helped calm tech investors. Reuters reports that…
Markets in Asia were mixed. The Nikkei fell .5% to 9,157. Sony (SNE) and Canon were both up over 4%. The Hang Seng rose 2% to 15,741. China Overseas Land Investment was up over…
Yahoo! (YHOO) Concerns about slowdown in internet advertising. Drops to $13.20 from 52-week high of $34.08. Bet they wish they had taken Microsoft (MSFT) deal. Sirius (SIRI) Merger a failure.Sells off to $.45 from…
The dirge is just about over for Sirius XM (SIRI). The stock has marched down so far that the market is saying there is little prospect for recovery. The company is plagued by a…