A bail-out of Washinton Mutual (WM) could cost tax-payers another $24 billion. According to Bloomberg, Richard Bove, an analyst at Ladenburg Thalmann & Co., said the federal government may have to provide that much…
Lehman (LEH) says it will go into Chapter 11. Richard Fuld, the company’s CEO, will almost certainly end up being loathed more than the heads of Drexel, Long-Term Capital Management, or any of the…
AIG (AIG) is seeking a short-term loan from the Fed in the amount of $40 billion. The Insurance firms says it will pay that back shortly from asset sales. In the current crisis, that…
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 vile… Saint Crispen’s Day…
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 harder to take.…
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 where it closed on…
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 Washington Mutual (WM) face…
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 restructuring by early Monday…
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 Wall Street Journal, Merrill…
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 liquidation later today. According…
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 Barclays (BCS), but that…
Lehman (LEH) may or may not open for trading on Monday morning. A number of experts believe that the broker’s problems must be resolved before Asia markets open, or that a panic may cause…
AIG (AIG) as taken its turn in the penalty box today, joining Washington Mutual (WM), Lehman (LEH), and Merrill Lynch (MER). After after three quarters of significant write-offs, AIG is down 25% today for…
Whatever sympathy there might have been for Lehman (LEH) is quickly slipping away. The calls for the federal government to stay out of the matter and let the investment firm fail on its own…
No one in his right mind wants to buy Washington Mutual (WM), but it does have some juicy pieces which would make nice additions at several other large financial firms. That leaves open the…