Writedown news: 23 Sep 2008

By Edward Harrison On Sep 23, 2008

Below are the latest major credit crisis stories from the web that I have seen. Most of these stories have more to do with raising capital, merging, and bankruptcy than writedowns. Quite honestly, I have been caught up in the bailouts so I may have missed a few, so please call me out on anything important I failed to add.

For the full timeline of news, visit my credit crisis timeline.

The timeline includes the following categories:

Writedowns of assets
Capital raising
Job cuts
Bankruptcies
Ratings changes
Managerial changes
Earnings reports
Lawsuits
Some significant stock price changes

Also see my list of Bankrupt Global Financial Institutions.

2008 09 07 Paulson Engineers U.S. Takeover of Fannie, Freddie
2008 09 08 Fannie, Freddie Credit-Default Swaps May Be Settled
2008 09 08 WaMu’s New Chief Prepares To Dive In Amid Skepticism
2008 09 08 BankUnited Sees Regulatory Capital Status Downgraded
2008 09 09 Counterparty credit risks climb on Lehman, WaMu
2008 09 09 KDB’s Attempt to Invest In Lehman Appears Over
2008 09 10 Lehman Sees $3.9 Billion Loss and Plans to Shed Assets
2008 09 10 Lehman to Sell Neuberger Stake, Spin Off Real Estate
2008 09 10 Fannie to Pay Third-Quarter Preferred Stock Dividends
2008 09 11 Gateway Bank to take writedown on Fannie, Freddie shares
2008 09 15 Lehman Files Biggest Bankruptcy After Suitors Balk
2008 09 15 Lehman Bankruptcy Summons Drexel Ghost 18 Years Later
2008 09 15 AIG’s Ratings Cut by S&P, Moody’s, Threatening Fund Raising
2008 09 15 Wells Fargo takes Lehman Related Charge
2008 09 16 WaMu Falls as S&P Cuts Lender’s Credit Rating to Junk
2008 09 16 Goldman Sachs net plunges
2008 09 16 Wells Fargo Takes Another Hit
2008 09 16 Morgan Stanley profit falls 3 percent
2008 09 16 Fed to lend $85 billion to AIG, take 80 percent stake
2008 09 18 Lloyds TSB seals £12.2bn HBOS deal
2008 09 18 Bradford & Bingley insists it is safe as credit rating falls
2008 09 18 BoE to extend emergency scheme for inter-bank lending
2008 09 18 Banking crisis: Central banks pump billions in to ease the strain
2008 09 21 As Goldman and Morgan Shift, a Wall St. Era Ends
2008 09 22 Nomura buys Lehman Brothers Asia units
2008 09 23 Nomura Acquires 2 More Lehman Units
2008 09 23 Citing writedowns, Washington Federal to report first-ever loss
2008 09 23 Japan’s biggest bank to buy 20% stake in Morgan Stanley