Tag:
Implosion
Latest Headlines
Latest Headlines
Obama takes regulatory fight to Wall Street
To some, the fight to reform Wall Street seems to have taken a back seat to the bruising health care war. But President Obama, seeking to rebut the notion, went to Wall Street a year after the Lehman Brothers implosion with a message: "We will not go back to the days of reckless behavior and unche
Defending a maligned bank deal
Wachovia's decision to buy Golden West Financial for $24.5 billion back in May 2006 was controversial from the start. Even then, shareholders were convinced that Wachovia was hideously overpaying. Wachovia was smitten by the heady growth in option ARMs, which Golden West was built on. We know how
Some perspective on the Lehman implosion
TheDeal.com offers an interesting take on the Lehman Brothers failure. Lehman's liabilities totaled $613 billion at the time of its bankruptcy filing. Unsecured claims of the top 30 claimants show credit of approximately $150 billion. Here are some benchmarks: WorldCom, the previous corporate
Is the worst now over? John Paulson may think so
The idea that we need a big failure to get past a financial crisis has long been out there. That's one reason a lot of people assumed that the Bear Stearns implosion signaled the worst was over. Of course they were wrong. Still, now you have to wonder whether the demise of Fannie and Freddie signa
Why not blame Goldman Sachs?
The issue of the moment is Goldman Sachs and what its London-based traders did, if anything, that might be construed as manipulation of Lehman Brothers' and Bear Stearns' stocks. That people are going to the media with this indicates a lot of anger. You can bet the regulators have gotten, or w
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 additional $650 billion plus in writedowns and losses. That's on top of the $350 billion already suffere
New era for prime brokers?
The credit crunch and the implosion of Bear Stearns mark a good opportunity to remake the prime brokerage industry, notes Financial News Online . Bear Stearns  saw a lot of good clients run for the hills, which may have played into the hands of the other traditional powers-- Goldman Sachs
Lehman doubters' short-sightedness backfires
Recall all the rumors about Bear Stearns right before its final implosion; they were pretty intense--so intense that the SEC is looking into whether they were fanned by traders with massive short positions. The shorts won that battle. While Lehman Brothers  has been hit with similar rumor
