According to Reuters, the Fed’s decision to make an October rate cute was a "close call." Reuters writes that Paulson said home loan defaults will be much higher in 2008. Reuters writes…
Last night came the filing from Berkshire Hathaway (NYSE:BRK-A) showing its public company stock holdings as of September 30, 2007. Berkshire’s four largest holdings in the report are American Express (NYSE:AXP), Coca-Cola…
Irony, they name is Wall St. Bank of America (BAC) shares are up 3.3% on news that the firm will take a write-down because it "has suffered a $3 billion loss stemming…
Douglas A. McIntyre According to Reuters, BHP Billiton (BHP) will not sell its petroleum division, as had been rumored, to finance a bid for Rio Tinto (RTP). Reuters writes that most of the Hershey (HSY)…
Citigroup (C), JP Morgan (JPM), and Bank of America (BAC) are closer to setting up their "super fund" to supply short-term loans to structured investment vehicles, pools of money which are made…
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…
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…
One thing must be said for Chuck Prince, who left Citigroup (C) todayafter four years. He could take a beating. From the moment the CEO’s chair was vacated by the ample frame…
After taking Merrill Lynch’s (MER) stock from $35 in early 2003 to $98 earlier this year, the company’s board sacked CEO Stan O’Neal for one bad quarter. O’Neal came across as a…
According to Reuters, Microsoft’s (MSFT) strong quarter and forecast sent shares up over 10%. Reuters writes that Oracle (ORCL) has turned down BEA Systems’ (BEAS) proposal that the company be sold at…
According to The New York Times "economists say the troubles in the mortgage market could, all told, cost financial firms and investors up to $400 billion." The figure includes losses in home…
According to Reuters, profits rose at Sony (SNE) driven by camera sales. Reuters writes that Google (GOOG) held a day with analysts and the press to show off its new technology and…
According to The Wall Street Journal, Bank of America (BAC) will "pink slip" large numbers of people at its investment banking group. Gene Taylor, president of corporate and investment banking unit and…
Douglas A. McIntyre According to the FT, former Fed chief Alan Greenspan says that the $75 billion plus fund to buy the assets of troubled investment vehicles is a bad idea. The leaders in the…
Several banks with troubled fixed income and mortgage securities are making the rounds to raise $80 billion to $100 billion to build a fund to buy some of this distressed debt. Citicorp…
