A few days ago, it would have been nearly impossible to believe that the deals for Bank of America (BAC) to buy Merrill Lynch (MER), for Mitsubishi UFJ to buy 20% of…
According to Reuters, the US is looking at guaranteeing billions of dollars of bank debt and temporarily insuring all bank deposits. Reuters reports that Citigroup (C) has ended talks about taking over…
Physicians who spend time in emergency rooms are trained to work on the patient and separate themselves from his pain. Doctors have learned that they must diagnose and solve problems efficiently because…
The UK has begun a partial nationalization of its major banks. The move may well include some of Britain’s largest financial firms such as Barclays (BCS) and HSBC (HBC). The government views…
According to Reuters, US markets fell to five-year lows. Reuters writes that Wells Fargo (WFC) could end up with over 75% of Wachovia;s (WB) deposits. Reuters reports that Morgan Stanley’s (MS) deal…
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…