According to Bloomberg "JPMorgan Chase & Co., the third- largest U.S. bank, said it held $40.6 billion in leveraged loans and unfunded commitments as of Sept. 30 that are difficult to hedge and “further…
Fannie Mae (NYSE:FNM) is seeing shares trade much lower after net income fell by more than half in the first nine months now that SEC filings for Q1, Q2 and Q3 have been caught…
According to Reuters "British bank Barclays Plc categorically denied rumors it was about to announce a $10 billion writedown and see its top management quit, after the market talk sent its shares tumbling over…
Wachovia (WB) is down 5% in the pre-market. According to Reuters the fourth-largest U.S. bank, said on Friday that it expected increased loan losses in the fourth quarter. In addition, the company estimates the…
Moody’s has begun to downgrade the debt in a number of the structured investment vehicles that own huge pools of mortgage-related securities. According to The Wall Street Journal "in its report, Moody’s said it…
Morgan Stanley sees $6 billion in potential losses from subprime. The company said it held $12.3 billion in Q3 U.S. subprime exposure, according to MarketWatch. Douglas A. McIntyre
The FT says that the "super-fund" to bail out financial instruments tied to mortgage-backed securities may be dead. Speaking about the fund to the paper: “As far as we can see, it appears dead…
CNBC was just reporting that The NASDAQ Stock Market, Inc. (NASDAQ:NDAQ) is close to purchasing the Philadelphia Stock Exchange for a sum of $500 million to $600 million. This might not make sense to…
"Directors are not like some kind of 1950s housewife who was always the last to learn about the misadventures of her husband," said J. Richard Findlay, head of The Centre for Corporate & Public…
Analysts are beginning to talk about how large the write-downs may be at financial institutions when earnings are reported for the next quarter. "Everybody will have write-downs in the fourth quarter," Charles Peabody, partner…
BATS Trading, Inc. announced Monday it filed with the U.S. Securities and Exchange Commission to become a fully licensed securities exchange so that it would have the same regulations and the same status as…
AIG’s (AIG) ancient former CEO Hank Greenberg is not happy with how the place is run. He shouldn’t be, but neither should any of the company’s shareholders. The stock is off 10% over the…
Former head and oustered Maurice "Hank" Greenberg according to an SEC filing is leading a campaign to do a total makeover at his AIG (NYSE:AIG). There is a problem besides the fact that Greenberg…
It seems while Merrill Lynch (MER) was losing all of that money on mortgage-backed financial instruments it was trying to unload them to save the company’s skin. Nice idea if you can make it…
Yesterday morning 24/7 Wall St. covered how the buyout for Affiliated Computer Services (NYSE:ACS) was for all practical purposes looking like toast, and we wanted to see which other pending deals were at risk. …