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Financial Week reports that top banks are reporting a rise in level three assets. Which just might presage another round of bitter valuation haircuts. Citi, for example, has said that level three... Read more...
Not to gloat, but I have been suggesting for a while that the government might not go forward with its plans to buy up troubled securities--originally the centerpiece of bailout ambitions. The... Read more...
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... Read more...
One good thing about the maligned credit default swaps market is that it allows people to make targeted bets--or buy specific insurance--on just about any bond that trades. It thus offers a barometer... Read more...
At one point, it looked there would be an agreed-upon bailout plan. But then it all fell apart, leaving the fate of the plan up in the air. The combatants will try again today. At the White House, a... Read more...
We've suggested that the political furor over the bailout plan has taken a populist turn. It's hardly surprising that executive pay became a sore point in all the haggling. On one side: reformers who... Read more...
The historic bailout proposed by the Treasury has taken a political turn, but not in a partisan fashion. There are lots of Congressional skeptics of both stripes. The issue, frankly, is well made for... Read more...
This wasn't supposed to happen. Some people thought it couldn't happen. Lehman Brothers couldn't be another Bear Stearns because the Fed had extended a novel credit window to it (and other investment... Read more...