Bank regulators may be trying to find a home for Washington Mutual (WM). According to The New York Post, "The fate of Washington Mutual remained in question yesterday as federal regulators recently called a…
A bank that will not loan money to any other banks will probably not loan money to anyone, no matter how favorable their credit profiles may be. According to The Wall Street Journal, "Banks…
Hank Paulson and Ben Bernanke proved that they were not anarchists, willing to risk the financial system burning itself into a pile of ashes. Zeus-like, the Fed will bail out AIG (AIG) at the…
No one could quite get to the crash victim, and now it seems certain AIG (AIG) will not make it out of the wreck. After staging a rally during the day, AIG’s shares closed…
Wells Fargo’s (WFC) shares are up 8% on strong volume. The bank stock should be trading down along with Citigroup (C) and Wachovia (WB). Due to the perverse reasoning of traders, Well Fargo is…
The bankruptcy of Lehman Brothers (NYSE:LEH) and the ongoing counterparty risk scenario isn’t just applicable to financial stocks. This is going to hit a couple of solar stocks pretty hard today. Evergreen Solar (NASDAQ:ESLR)…
UBS AG is back in the barrel this morning. Investors have more concerns about write-downs, adding pressure to the stock today. It looks like shares were even halted. They opened down 10% in overseas…
AIG (AIG) shares are off 40% in pre-open, to $2.85.
AIG (AIG) managed to lose 60% of its market value today. At one point the stock was off 70%. A partial rescue came in the form of permission from New York State for the…
This week seems to be unprecedented for the financial powerhouses and bulge bracket brokerage firms. While Merrill Lynch had to throw in the towel and become a Bank of America subsidiary, Lehman Brothers is…
Covering financial stocks on a day like today is sort of like watching the Chinese ping pong championship. It’s all action, happens faster than most can see, and no one really knows who the…
AIG (AIG) plans to sell its auto insurance unit, annuity operations, and aircraft leasing division. It sounds a lot like Lehman’s (LEH) plan to spin-off its commercial real estate pool and sell a majority…
Covering financial stocks this morning looks a bit like an assassination happening live on television. Futures are being pulled sharply lower by the financial stocks melting down. We are going to skip the individual…
When Merrill Lynch (MER) CEO John Thain signed the employment agreement that made him the S&P 500’s best-paid CEO of 2007, shares of Merrill were trading at more than $55 dollars per share. Now…
AIG (AIG) may lose over $20 billion for the trailing four quarters ending with the current period. It says the unprecedented credit crisis bought on by the failure of Lehman (LEH) requires it to…