According to Reuters, Paulson will try to tighten rules at the state and federal levels to tighten mortgage standards. Reuters writes that Carlyle Capital was unable to reach a deal with it…
JPMorgan (NYSE: JPM) has lowered its U.S. economic targets for 2008. The firm lowered US GDP growth outlook to +0.9% from a prior +2.1%. This call implies that JP Morgan now sees…
Douglas A. McIntyre Thornburg Mortgage (NYSE: TMA) Fear of Chapter 11. Falls to $1.26 from 52-wek high of $28.40. CIT Group (NYSE: CIT) Lehman Brothers cuts price target. Drops to $15 from 52-week high of…
A number of the large financial stocks took news of a write-down at UBS (NYSE: UBS), debt problems at Merrill Lynch (NYSE: MER), and downgrades of Thornburg (NYSE: TMA) hard. Hitting 52-week…
Goldman Sachs has made some key downgrades in the financial sector today. The firm has cut both Fannie Mae (NYSE: FNM) and Freddie mac (NYSE: FRE) from an already "neutral" rating, with…
A lot of smaller companies will continue to report earnings over the next several weeks, but almost all of the really big companies which are on calendar fiscals have put out their…
Wikipedia listing "No Exit", a 1944 play by Jean-Paul Sartre, (see also–Delphi’s Chapter 11 problem.) On the way to getting out of Chapter 11, auto parts company Delphi ran into the credit…
Bank of America has release a study showing the levels of LBO write-downs that large banks and brokerages may have to take. The figures are based on a "the current series of…
Cisco (NASD: CSCO) and EDS (NYSE: EDS) have businesses which point different directions on a compass. But, it is the same compass. In one day, Cisco was able to show that large…
Citigroup (NYSE: C) is trading off over 5% today. Wachovia (NYSE: WB) and JP Morgan (NYSE: JPM) are down over 3%. Is it any wonder? S&P today said that its potential downgrade…
As if some miracle had saved the financial system and averted a recession, shares in bank and brokerage companies moved irrationally higher last week. A case in point, Wells Fargo (WFC) moved…
Firestone. American Motors. Texaco. Pan Am. Worldcom. At one point or another these large American companies were at the top of their industries. Pan Am was the leading global airline for decades.…
People still take about how Hannibal crossed the Alps to attack the Romans in 218 BC. Years from now they will probably do the same about the big 600 point turnaround on…
Senior officials of the US Treasury Department are sneaking around Davos trying to get the managers of big sovereign funds from Asia and the Middle East to sign a code of conduct. …
Tuesday could bring a 1,000 point drop on the Dow, especially if markets in Asia and Europe repeat their Monday performances tomorrow. China’s big Hang Seng index fell 5.5% to 23,818. The…
