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More on Ken Lewis's big bet
Ken Lewis, CEO of Bank of America, really bet his career on Countrywide. We've made that point repeatedly. For all the savvy deals he's pulled off--MBNA and Read more...
Freddie auction fares well...So what?
Freddie Mac's $3 billion auction of short-term securities went well. Of course it took news of a massive potential government bailout to undergird market confidence. This is decent news, but the Read more...
Fannie and Freddie, the final shoe to drop?
We tend to take Fannie Mae and Freddie Mac for granted. They have long been securitizing mortgages, and that expanded liquidity greatly without a doubt. That they were government-sponsored 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...
At banks, traders take losses for the team
We all have heard the stories of how some hedge funds hit grand slams by betting against subprime-related mortgages. The New York Read more...
Big writedowns in Europe
UBS has written down $19 billion in losses related to U.S. mortgages and structured credit products. It also announced it was raising $15 billion via a rights issue that already was fully Read more...
ALSO NOTED: Merrill may take $4 to $5 billion write down; Rumors lash Lehman Brothers again; and much more...
Company News: > Analyst: Merrill may take $4 to $5 billion write down. Read more...