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…
The New York Times is reporting that Morgan Stanley (MS) has been approached by Wachovia (WB) about a buyout. According to the paper, the broker is also considering other options. Douglas A.…
Morgan Stanley (MS) tumbles on fears it will be the next victim of credit crisis. Shares falls to $16.08 from a 52-week high of $69.87. Goldman Sachs (GS) Even the premier US…
According to Reuters, the federal government bailed out AIG (AIG) The Fed will loan the insurance company $85 billion for two years in exchange for a 79.9% stake. Reuters says that Barclays…
By all accounts, Morgan Stanley (MS) was supposed to have a mediocre quarter. Wall St. was concerned it could be worse than that. Enough of the large financial companies had been damaged…
According to Reuters, the markets will now turn their attention to AIG (AIG) which is struggling to survive. Reuters report that the Fed will probably hold interest rates steady and signal a…
This week seems to be unprecedented for the financial powerhouses and bulge bracket brokerage firms. While Merrill Lynch had to throw in the towel and become a Bank of America subsidiary, Lehman…
AIG (AIG) plans to sell its auto insurance unit, annuity operations, and aircraft leasing division. It sounds a lot like Lehman’s (LEH) plan to spin-off its commercial real estate pool and sell…
Covering financial stocks this morning looks a bit like an assassination happening live on television. Futures are being pulled sharply lower by the financial stocks melting down. We are going to skip…
According to Reuters, Lehman (LEH) will seek Chapter 11 protection. Reuters reports that Bank of America (BAC) will buy Merrill Lynch (MER) for $50 billion. Reuters reports that AIG (AIG) is facing…
We few, we happy few, we band of brothers; For he to-day that sheds his blood with me Shall be my brother; be he ne’er so vile… Saint…
