Tag:
collapse
Latest Headlines
Latest Headlines
Two more Madoff employees arrested
If you think the Bernard Madoff Ponzi Scheme fallout has ended, think again. It seems that prosecutors have not given up on the idea of charging more accomplices and family members, even as Bernie languishes in prison. The latest: The FBI has arrested two long-time, loyal clerical workers--JoAnn C
A tough time to be a bank bondholder
There's a lot of uncertainty these days if you're a holder of big banks bonds. The nervousness is apparent from the soaring CDs spreads and tanking prices of subordinated debt. Breakingviews notes that most likely the worst-case scenarios will not come to pass. The government certainly seems b
Cuomo opens investigation of Merrill Lynch bonuses
The hits keep coming for John Thain, whose stellar reputation has been badly tarnished by the collapse of Merrill Lynch and some questionable decisions. The latest: New York Attorney General Andrew Cuomo has opened an investigation into Thain's decision to pay billions of dollars in bonuses days b
Hedge fund pain will only worsen
Bloomberg reports that the hedge fund industry may slash up to 10,000 jobs soon, on top of the 3,000 to 5,000 jobs that have already been cut. This was hardly expected. The golden era of hedge funds is fading fast, and for some this is a good thing. Unless you just love it, it can be a terribl
Morgan Stanley on the ropes?
The world wasn't buying that all was well with Morgan Stanley's deal with Mitsubishi UFJ Group, which called for the Japanese giant to inject $9 billion in the ailing investment bank. Even as Morgan Stanley insisted the deal would close this week, the stock kept on falling and CDS spreads soared.
What to make of AIG?
For AIG, the hits just keep coming. The latest: the Fed has agreed to make another $38 billion available to the disgraced insurer to keep its troubled lending securities business alive. That unit started bleeding when the money it invested (essentially collateral from customers) in long-term instr
For Fuld, the beating continues; employee sucker punches him in gym
Richard Fuld, CEO of Lehman Brothers, has taken some shots as of late. In one instance, it was literal; he was working out in the corporate gym, on the treadmill with a heart monitor on, when someone punched him, knocking him out. He took another beating before Congress, which took him to task for
Washington Mutual
Who: Washington Mutual
What: 13 th bank failure of 2008 (Sept. 25, 2008)
Where: Henderson, Nevada and Park City, Utah
Why: Poorly hedged mortgage bets, and losses in its big credit loan portfolio and on mortgage loans. A $16.7 billion bank run ove
IndyMac Bank
Who: IndyMac Bank
What: Fifth bank failure of 2008 (July 11, 2008)
Where: Pasadena, California
Why: Losses on defaulted mortgages made at the height of the housing boom.
Fast Facts: At the time of closing, IndyMac was the second largest
