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September 2008 - Around The Web



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  • Breakthrough on $700bn rescue plan
    Published Sun, Sep 28 2008 3:54 PM by www.ft.com
    The US financial services sector could be forced to reimburse the US government for any losses on its $700bn rescue plan under a breakthrough political agreement that paves the way for congressional approval as early as Monday
  • Wachovia takeover rests on bail-out
    Published Sun, Sep 28 2008 3:53 PM by www.ft.com
    A takeover of Wachovia, the troubled regional lender, hinges on congressional approval of a proposed $700bn bail-out plan and the government's willingness to extend financial aid to potential bidders, people close to the situation said
  • Lehman staff unhappy over carve-up
    Published Sun, Sep 28 2008 3:52 PM by www.ft.com
    The carve-up of Lehman Brothers between the UK's Barclays and Japan's Nomura has not been met with widespread rejoicing by employees of the failed bank
  • Wells Fargo: A Growth Stock During the Great Depression?
    Published Sun, Sep 28 2008 3:51 PM by Seeking Alpha
    submits: With all the talk lately of a sharp economic contraction, Wells Fargo (WFC) investors and depositors might find it entertaining to know how their bank, with its famously strong balance sheet (uniquely AAA rated), prospered during the great depression...
  • 3 Things America Needs to Do to Get the Economy Back on Track
    Published Sun, Sep 28 2008 3:51 PM by Seeking Alpha
    submits: The US trade deficit has grown to $US700 billion, which of course is money not spent on US goods and services. This has killed off well paying jobs, has slowed the economy and created unemployment. Net imports from China and oil account for a...
  • Citi in Talks With Wachovia as $700B Bailout Plan Moves Forward
    Published Sun, Sep 28 2008 3:51 PM by Seeking Alpha
    submits: that merger talks between Citigroup (C) and Wachovia (WB) have advanced, with a meeting scheduled Sunday for Citi executives. The major deciding factor is the status of $120B in bad debts for Wachovia, with Citi looking for help from the Fed...
  • WaMu Purchase Puts JP Morgan at 15% Share of Bank-Broker Market
    Published Sat, Sep 27 2008 9:29 AM by feeds.feedburner.com
    The statistics on retail brokers at banks are a bit dated, since they don't reflect the fact that Merrill, aka The Thundering Herd, is soon to be part of Bank of America (I am not certain whether the deal has actually closed). Nevertheless, the fact...
  • Wachovia may be looking to get hitched
    Published Sat, Sep 27 2008 9:29 AM by wallstfolly.typepad.com
    Wachovia says they don't have "liquidity issues" (at least as of today) but they're nonetheless reportedly testing the merger waters. The toxic debt laden bank is reportedly in preliminary merger discussions with Banco Santander, Wells...
  • Nouriel Roubini: Paulson Plan is a Disgrace
    Published Sat, Sep 27 2008 9:29 AM by feeds.feedburner.com
    Inquiring minds are interested in Nouriel Roubini's thoughts on the Paulson Plan. Please consider the . The Treasury plan (even in its current version agreed with Congress) is very poorly conceived and does not contain many of the key elements of...
  • Credit Market Is Closed
    Published Sat, Sep 27 2008 9:29 AM by feeds.feedburner.com
    Minyanville is the brightest fixed income mind I know. Inquiring minds are tuning in to see his take on the . Welcome to the credit market, folks, it is officially closed. After Lehman, Fannie Mae (FNM), Freddie Mac(FRE), AIG (AIG) and Washington Mutual...
  • Forbes.com: $700 Billion Is Just A Start
    Published Sat, Sep 27 2008 9:29 AM by feedproxy.google.com
    I did this non Tuesday: $700 Billion Is Just A Start: Economist Barry Ritholtz sees the Treasury bailout cost doubling and says the plan is rushed. click for video (I call this my "face made for radio" period)
  • Dear Washington - A Real Plan For You
    Published Sat, Sep 27 2008 9:29 AM by mrmortgage.ml-implode.com
    Bill King, whose foresight I rely upon for my personal financial well-being, and who I quote in the blog often has put forth a plan worth serious consideration. Please get this to your representative in Washington…they need all the help they can get....
  • Chinese regulator calls US lending 'ridiculous'
    Published Sat, Sep 27 2008 9:29 AM by www.washingtonpost.com
    TIANJIN, China -- U.S. lending standards before the global credit crisis were "ridiculous," and the world can learn from China's more cautious system as it considers financial reforms, the top Chinese bank regulator said Saturday.
  • Fleeing WaMu deposits sent regulators scrambling
    Published Sat, Sep 27 2008 9:29 AM by www.washingtonpost.com
    WASHINGTON (Reuters) - As depositors lost confidence in Washington Mutual Inc (WM.N), and began emptying their accounts, regulators abandoned hopes of saving the largest U.S. savings bank and conducted a secret auction.
  • SEC: Brokerage Collapse Was Our Fault
    Published Sat, Sep 27 2008 9:13 AM by feedproxy.google.com
    “The last six months have made it abundantly clear that voluntary regulation does not work." -Christopher Cox, Chairman Securities and Exchange Commission Excellent timing -- I have an editorial in this weekend's Barron's on exactly this...
  • "Even Hank Paulson's bail-out plan cannot detox global banking"
    Published Sat, Sep 27 2008 9:13 AM by feeds.feedburner.com
    Some readers would have a go at me whenever I'd post articles by the Telegraph's Ambrose Evans-Pritchard. Although he has a tendency to hyperventilate and sometimes oversimplifies, he regularly points to data and research that I haven't seen...
  • Freddie Mac shakes up management
    Published Fri, Sep 26 2008 4:44 PM by rss.cnn.com
    Read full story for latest details.
  • Paulson taps Forst as adviser on plan
    Published Fri, Sep 26 2008 4:44 PM by www.ft.com
    Hank Paulson, Treasury secretary, has called on Edward Forst, a former senior Goldman Sachs executive who recently joined Harvard University, to be a key adviser on the $700bn financial rescue plan
  • Real estate insiders see market upheaval into 2010
    Published Fri, Sep 26 2008 4:44 PM by feeds.bizjournals.com
    The majority of real estate execs -- 60 percent -- say the current credit crisis is the event with the single-greatest impact on the commercial real estate industry during the past 20 years, according to a national survey conducted by law firm DLA Piper...
  • Wachovia Begins Early Deal Talks with Citi
    Published Fri, Sep 26 2008 4:40 PM by dealbook.blogs.nytimes.com
    Wachovia has begun preliminary talks with Citigroup about a potential merger, people briefed on the matter said Friday afternoon.
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