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Browsing Category
Economy
Lehman fallout: HBOS and RBS are getting slaughtered
Don't think that it is just the U.S. that has to worry about systemic risk. The Europeans have their own problems and the weaker financial institutions are getting absolutely killed in European trading right now. RBS is down nearly 13%.…
Lehman has filed for bankruptcy
Update: 815AM EDT: Unable to find buyers in around the clock talks, Lehman Brothers has filed for bankruptcy protection. On Friday, it was learned that Lehman had hired bankruptcy attorneys. Now, the worst has come to pass: Lehman has…
Quote of the day: Gordon Gekko – greed is good
With blood on the street and one flagging financial institution after another gasping for dear life, a quote from the Movie "Wall Street" bears remembering:
In the last seven deals that I've been involved with, there were 2.5 million…
Merrill – Bank of America deal
It has now been confirmed that Bank of America has bought Merrill Lynch for $44 billion.
Originally, Bank of America had been in the running to buy Lehman Brothers but balked at Lehman's black hole of a balance sheet. The U.S. Government…
AIG: looking to raise $20 billion
Update: 810 PM EDT: Rush Is On to Prevent A.I.G. From Failing
Update: 1045 PM EDT: A.I.G. Seeks $40 Billion in Fed Aid to Survive
Update: 810 AM EDT: See my post on what to expect this morning in the market and my (cursory) analysis of the…
Lehman Brothers: no buyers yet
Update: 800PM EDT: DealBook is now reporting that Lehman is expected to file bankruptcy as soon as tonight. (See post). Merrill, fearing for its continued existence, is now in takeover talks with BofA (see…
AIG down; Lehman and WaMu looking to be sold
The world of financial services in not looking terribly stable in the wake of the Frannie nationalization. In fact, things are as jumbled as they have ever been. The latest news has AIG down 30% and both WaMu and Lehman brothers on the…
Chart of the day: unemployment as a recession indicator
Is the U.S. in recession or not?
Well, the U.S. printed a 3.3% number for growth in the second quarter according to the data released last week. Since then, I have been asking myself why we shouldn't believe the U.S. is in an expansion…
Palin: Videos from ABC interview with Charlie Gibson
Republican Vice Presidential nominee Sarah Palin spoke with Charles Gibson of ABC News last night about national security. This is her first major media interview since being picked as John McCain's running mate. The video is in two parts…
Hurricane Ike is going to have an impact
Hurricane Ike is going to be a difficult storm. It is a massive storm with tropical storm force winds covering the entire Gulf of Mexico. Disruptions in the Gulf of Mexico, in refining capacity and in gasoline distribution, as well as…