With Bear Stearns, Fannie Mae (FNM), and Freddie Mac (FNM) fundamentally gone as independent institutions, the Treasury and Fed have turned their attention to Lehman (LEH) and Washington Mutual (WM). Nothing to…
Douglas A. McIntyre Short interest in a number of financial stocks moved up very sharply for the period ending August 29. Shares short in Washington Mutual (WM) rose 12% to 383 million. Short interest in…
According to Reuters, Washington Mutual (WM) fell 30% to a 17-year low. Reuters reports that billionaire Carlos Slim has bought 6% of The New York Times (NYT). Reuters writes that Northrop Grumman…
Washington Mutual (WM) Latest victim of credit debacle. Falls to $2.30 from 52-week high of $39.25. Lehman (LEH) Restructuring plan has few friends. Down to $6.93 from 52-week high of $67.73. Owens-Illinois…
Over the last year, shares in Washington Mutual (WM) are down more than Lehman (LEH). It is distinction that defiles the managements and boards of both companies. Washington Mutual’s days as an…
Douglas A. McIntyre In community college Economics 101 students learn that there can be dips in bull markets. Usually these are caused by a single event like a change in the party that runs Congress.…
This morning we are seeing a massive gain on the heels of the US government seizure tied to Fannie Mae and Freddie Mac. Those shares are halted and Warren Buffett has just…
Fannie Mae (FNM) and Freddie Mac (FRE) had their CEOs pushed out by the government this weekend. They will get fat pay packages and can go on to live in massive homes…
According to Reuters, the government takeover of Fannie Mae (FNM) and Freddie Mac (FRE) will do little to help the mortgage market short-term. Reuters writes that Lehman (LEH) made a number of…
The evidence that sales at many companies are struggling and that employment will suffer are almost everywhere. Recently, a division of GMAC said it would let 5,000 people go. According to MSNBC,…
In the latest installment of the "Batman" film series, loyal butler Alfred tries to explain the behavior of some of the most depraved criminals. He points out to a befuddled Bruce Wayne…
Nouriel Roubini, the NYU economist, has predicted the US is moving into its worst downturn since the Great Depression. He forecasts that hundreds of banks will fail. But, he is an "independent"…
Shorts sellers suffered from a lack of conviction on the direction of financial stocks in the period that ended July 31. They were clear that betting against tech was no longer a…
Bear Stearns was not the end of it. Institutional investors think at least one more large firm will fail, probably over the next six months. Although those surveyed did not name a…
The safe-house for money center banks closed and locked its doors long ago. The mortgage-related paper crisis rolls on like a mighty river and its latest victim is RBS (RBS). But, victim…
