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Stealth layoffs hitting Wall Street
It's not paranoia if they're really after you. And so it goes on Wall Street. Financial institutions have announced some 65,000 layoffs since summer, and people are understandably nervous. The New Read more...
ALSO NOTED: Goldman Sachs, Morgan Stanley estimates cut again; Countrywide must face shareholder suit; and much more...
Company News:> Bullishness on Franklin Resources. Article > Read more...
ALSO NOTED: Merrill Lynch changes stock rating system; Merrill Lynch, Citigroup execs look to former colleagues for talent; and
Company News:> Freddie beats expectations. Article> More on the Clear Channel agreement. Read more...
Banking industry future still cloudy
So is the worst really over? We've been hearing as much from lots of executives as of late. But not everyone is buying it. Case in point: Former Fed official Vincent Reinhart says banks face an Read more...
Are prime consumers the next big worry for banks?
We've spoken ad nauseum about the risks of subprime debts that have filtered through the financial system in many surprising ways. But a lot of prime borrowers have been silently struggling through Read more...
Clear Channel deal imminent?
With a trial about to start, hedge fund Highfield Capital and Morgan Stanley decided that all parties to the troubled Clear Channel deal should come to some sort of agreement. A jury trial would not Read more...
ALSO NOTED: UBS slashes equity sales jobs; E*Trade to quite mortgage origination business; and much more...
Company News:> E*Trade to quit mortgage origination business. Read more...
Wachovia's life insurance policies lead to huge loss
We've all been talking about writedowns for leveraged loans, subprime-related securities, and heck even plain loan losses. But life insurance policies? Huh? About $315 million of Read more...
Money funds and the credit crunch--whew!
There were a few scenarios out there that were really, really nasty. It's one thing when accredited investors take their lumps on hedge funds. But what if Ma and Pa started taking losses on their Read more...
Can John Paulson do it two years in a row?
John Paulson was the toast of the hedge fund industry last year. By betting correctly and massively against subprime-related debt, his Read more...