Talk of Lehman Take Under
After talk of a bid for Lehman Brothers by a rival firm substantially below its current price dropped the share price below $20/share it has rebounded.
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Dick Grasso Wins Right to be Filthy Rich
The battle to strip the former NYSE Chairman of a windfall $190 million final payment for his years at the exchange is over and Dick Grasso is sitting pretty.
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Merrill Lynch May Part with Treasured Assets
With the markets taking a nosedive along with the economy Merrill Lynch CEO John Thain may have to consider parting with their investments in Bloomberg and Blackrock in order to survive.
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New Bonus System at Citigroup to Make Everyone Play Nice
Citigroup’s current bonus system is the cause of in-fighting and less co-operation between divisions at the bank according to CEO Vikram Pandit.
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Biggest Financial Crime Ever Perpetuated
That is just one of the quotes in Vanity Fair’s investigative piece on the collapse of Bear Stearns.
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$200 Oil Would Bring Down Global Economy
According to Deutsche Bank’s Chief Energy Economist Adam Sieminski $200 a barrel oil would collapse the global economy.
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Goldman Hedge Funds Back From the Brink
The two hedge funds run by Goldman Sachs on the verge of collapse last summer in 2007 are on the comeback in 2008.
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New York Stock Exchange Plants Stake in Mid East Exchange
The NYSE has bought a 25 percent stake in the Doha Securities Market. Beating out rivals LSE and Deutsche Borse.
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Goldman Admits Mistake
You heard right. Goldman was wrong and they admitted it. It takes a big investment bank to go back on a call concerning their own sector.
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Bond Insurers Ask Investment Banks to Rip Up Their Policies
Bond Insurers, Ambac, FGIC and MBIA are negotiating with financial firms to more or less rip up the insurance the monolines sold to them to cover potential losses on their CDS contracts.
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Goldman Employees Not Immune From Job Cuts
If there were one firm on Wall Street that could be expected to weather the credit crisis storm without having to make deep cuts in headcount it would be Goldman Sachs.
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UBS Helped Wealthy Americans to Evade $20 Billion in US Taxes
Former UBS banker to America’s wealthiest admitted in court to helping U.S. clients hide $20 billion in assets and to evade paying taxes on those assets.
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More Pain From Citigroup on the Way
Citigroup’s chief financial officer announced on a investor call that more pain is own the way in the form of further writedowns and losses in the second quarter.
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Hedge Fund Houdini’s Girlfriend Arrested
The hedge fund manager who did an houdini on the way to prison to serve a 20-year sentence is still missing but his girlfriend has now been implicated in his disappearance.
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Is Lehman Brothers For Sale?
CNBC is reporting that pressure may force Lehman’s CEO Dick Fuld to sell the battered investmant bank who recently announced almost $3 billion in the latest quarter.
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Former Citigroup CEO Looking to Unload House But Can’t
Chuck Prince, Citigroup CEO wants to put the events of the last year behind him and move on, literally. However the slump in the housing market is not cooperating.
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Morgan Stanley Reports 57 percent Decline in Second Quarter
Morgan Stanley reported second quarter earnings of $1.026 billion, down 57 percent from a year ago. The earnings of 95 cents a share were in line with Wall Street expectations.
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UBS Clients Withdrew Nearly $40 billion
UBS AG the Swiss investment bank known for catering to the world’s wealthiest investors saw those investors fleeing and pulling out nearly $40 billion after UBS reported $19 billion in writedowns in the first quarter.
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Credit Crisis Writedowns to Exceed $1 Trillion
Hedge Fund manager John Paulson is predicting the total writedown globally may reach $1.3 trillion.
Hedge Fund manager John Paulson is predicting the total writedown globally may reach $1.3 trillion.
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Former Bear Stearns Hedge Fund Managers Facing Indictment
The managers for the two Bear Stearns hedge funds that collapsed a year ago and marked the beginning of the end for Bear Stearns are awaiting federal indictments by the U.S. Attorney’s office.
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Goldman Sachs and Morgan Stanley Saved By Corn
As well as other commodities such as oil and gold etc. The two firms are expected to avoid the troubles that caused Lehman Brothers to post billions in losses.
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