Credit Writedowns

The Department of Labor released jobless claims numbers today at 8:30 AM. Jobless claims came in at 445,000, down from an upwardly revised 451,000 the week before. Claims are averaging now 440,000 for the past 4 weeks, 115000 higher than…

This is a topic I first broached in May. The United States has a mortgage problem in that house prices have fallen so much and the financial sector is so leveraged that the U.S. faces systemic banking risk from a vicious circle in the…

At the end of July, I wrote a post of my top ten predictions for the remainder of the year. A third of the way into things, my predictions are looking pretty good...so far. I said:Oil prices will dip below $100 before year-end.Inflation…

Seven years ago, I was involved in a merger that was the last proposed under the old pooling of interests accounting rule that was phased out after June 30, 2001. This methodology was great because it didn't necessitate acquiring companies…

Below are the latest writedown stories from the web that I have seen. Quite honestly, I have been a little behind in updating all of the stories on the timeline, so please call me out on anything important I failed to add.For the full…

RAB Capital, the hedge fund that lost a good deal of capital in its quest to capitalize on the Northern Rock situation now finds itself losing investor money. In fact, it is looking to halt redemptions from its funds for three years. This…

Lehman Brothers released their earnings report this morning at 7:30 AM. Lehman saw a Q3 loss of $5.92 a share, or $3.9 billion. There was a lot of speculation in the markets yesterday about Lehman's liquidity after talks for an investment…

Yesterday was a miserable day in the market with the Dow down 280 points in America. Lehman was the watch word of the day as worries about its solvency caused the stock to fall 45%. WaMu didn't do much better. It was down nearly 20%.…

Today's punishing session on Wall Street just ended down over 280 points. The glee of yesterday is well and truly over. Lehman Brothers in particular, was punished today as news of its stalled talks with the Korean Development Bank…

You would think that after the biggest bailout in financial history, one could breathe a sigh of relief. However, as I write this post, the markets are getting pummeled, financial stocks in particular. What is clear from the TED spread is…