According to Reuters, the credit crisis has sharply increased the chances of a deep recession. Reuters reports that the fall in the stock market is pushing investors into safe investments like Treasuries.…
Now that the Congress has voted against the Treasury bailout and the Dow has dropped700 points, the important question is whether they system can save itself before the market moves toward 9,000.…
There is one interesting irony in this whole financial meltdown which goes which many will not want to admit. Citigroup Inc. (NYSE:C) and the financial supermarket model may actually be emulated by…
Morgan Stanley (MS) is starting to have some of the problems that hurt Lehman. According to the FT, "Morgan Stanley lost close to a third of assets in its prime brokerage last…
Douglas A. McIntyre According to Reuters, talks over a US bailout of banks broke down and will begin again today. Reuters reports that Washington Mutual (WM) became the largest bank failure in US history. Many…
The Treasury is making the case that the financial industry needs $700 billion to take toxic assets off bank balance sheets. This should free up liquidity and ease credit problems. Treasury Secretary…
According to Reuters, Bush called an emergency meeting of Congressional leaders to push through bank bailout legislation. Reuters reports that Goldman Sachs (GS) and Morgan Stanley (MS) are preparing to take advantage…
Markets in Asia were slightly higher. The Nikkei was up .2% to 12,225. Nomura rose more than 5%. Mitsubishi UFJ Financial Group was up over 4% after buying a stake in Morgan…
Douglas A. McIntyre According to Reuters, Wilbur Ross say the bailout package does not address the core of problem which is mortgage payments. Reuters writes that the National Retail Federation says that this will be…
Goldman Sachs (GS) and Morgan Stanley (MS) today give up their vaunted status as investment banks, no longer being the top dogs of the financial world. In this ancient industry, there is…
According to Reuters, Goldman Sachs (GS) and Morgan Stanley (MS) will give up their investment banking status and become bank holding companies to have access to the government’s proposed $700 billion bailout…
Shares of major financial firms from Goldman Sachs (GS) to Morgan Stanley (MS) are up 25% to 35% in the pre-market. Washington Mutual’s (WM) stock is up more than 40% and AIG’s…
According to Reuters, Citigroup (C) is considering buying Washington Mutual (WM). Reuters reports that US markets rallied on word of a potential plan for the government to take over the toxic assets…
Genworth (GNW) Concerns that mortgage insurance company has too much exposure in housing disaster. Down to $3.51 from 52-week high of $32.33. State Street (STT) Concerns about exposure to AIG (AIG) and…
According to Reuters, Morgan Stanley (MS) is in merger talks with several firms. Reuters says HSBC (HBC) may be a possible buyer for Morgan Stanley. Reuters reports that Washington Mutual (WM) is…
