iOS app Android app

Finance

Bailout becomes buy-in as feds move into banking

AP | JEANNINE AVERSA | Posted 05.25.2011 | Business

WASHINGTON — Big banks started falling in line Tuesday behind a rejiggered bailout plan that will have the government forking over as much as $2...

Will Banks Really Have To Curb CEO Pay?

DealBook | Cyrus Sanati | Posted 05.25.2011 | Business

The government's rules specify that participating banks must claw back payments to senior executives if those payments were "based on statements of ea...

Iceland Looks For Overseas Help In Dire Financial Crisis

Reuters | Posted 05.25.2011 | Business

REYKJAVIK (Reuters) - Iceland looked for help from new partners on Monday to dig it out of a crisis that has overwhelmed its once-flourishing financia...

No Guarantees That Credit Will Flow After Global Meetings

New York Times | Floyd Norris | Posted 05.25.2011 | Business

At the end of a weekend when nearly all of the world's major bankers and finance ministers gathered in Washington to stanch the global credit crisis, ...

Goldman Sachs Tips Hand By Applying For New Charter

New York Times | Louise Story | Posted 05.25.2011 | Business

Goldman's state charter, if approved, would set it apart from its direct competitors -- Morgan Stanley, Citigroup, JPMorgan Chase and Bank of America....

Are Cheap Stocks Bargains Or Traps?

Los Angeles Times | Tom Petruno | Posted 05.25.2011 | Business

When the stock market goes on sale, smart investors are supposed to seize the opportunity. But Wall Street's decline of the last three weeks has been...

World stock markets soar after last week's rout

AP | JEREMIAH MARQUEZ | Posted 05.25.2011 | Business

HONG KONG — Global stock markets rebounded strongly on Monday after last week's historic sell-off as governments from Europe to Australia and th...

Manic Monday: Dow roars back from worst week ever

AP | TIM PARADIS | Posted 05.25.2011 | Business

NEW YORK — Wall Street stormed back after its worst week ever and staged the biggest single-day stock rally since the Great Depression on Monday...

Treasury Will Guarantee Mitsubishi's Investment In Morgan Stanley

DealBook | Posted 05.25.2011 | Business

In what could set an important precedent, federal officials assured a big Japanese bank late Sunday that its planned investment in the embattled Wall ...

Morgan Stanley gets lifeline, is ready for deals

AP | JOE BEL BRUNO and STEPHEN BERNARD | Posted 05.25.2011 | Business

NEW YORK — Morgan Stanley averted disaster with a $9 billion lifeline from a major Japanese bank, and on Monday declared it will use that money ...

Bush to announce expanded bank bailout details

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON — The Bush administration plans to spend an initial $250 billion of the $700 billion bailout buying stock in private banks, greatly e...

The Buck Stops Anywhere But Here

Neil Grossman | Posted 05.25.2011 | Politics
Neil Grossman

When I was young, I was taught that people were expected to assume responsibility for their actions. The idea was encapsulated in a quote that appear...

The Rise Of The Financial Machines

New York Times | RICHARD DOOLING | Posted 05.25.2011 | Business

"BEWARE of geeks bearing formulas." So saith Warren Buffett, the Wizard of Omaha. Words to bear in mind as we bail out banks and buy up mortgages and ...

Paulson endorses bank stock purchase plan

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON — Treasury Secretary Henry Paulson said Friday that the Bush administration will move ahead with a plan to buy stock in financial ins...

European Banks Up To Their Eyeballs In Leverage

Fortune | Colin Barr | Posted 05.25.2011 | Business

NEW YORK (Fortune) -- Leverage, the menace that helped bring down some of the biggest names on Wall Street, is now threatening the health of big banks...

Jobless Claims Drop, But Still Dangerously High

AP | CHRISTOPHER S. RUGABER | Posted 05.25.2011 | Business

WASHINGTON — New applications for unemployment benefits dropped last week from a seven-year high, the Labor Department said Thursday, though the...

World stocks slump on Dow open

AP | PAN PYLAS | Posted 05.25.2011 | Business

LONDON — Europe's stock markets plunged Friday after Wall Street opened a breathtaking 7 percent lower _ below the 8,000 level _ but they soon r...

Lehman Assets Nearly Worthless, Dangerous Implications For Economy

Clusterstock | John Carney | Posted 05.25.2011 | Business

So the final results from the Lehman Brothers CDS auction are in, and they're even uglier than expected. Finally price is 8.625 cents on the dollar. ...

Breaking The Fever: Could This Crisis Also Be The Cure?

The Washington Independent | Satyajit Das | Posted 05.25.2011 | Business

The first phase of this cure is reduction of debt throughout the financial system. So far, overall losses to financial institutions are $400 billion t...

Oil plummets below $83 on global slowdown fears

AP | ALEX KENNEDY | Posted 05.25.2011 | Business

LONDON — Oil prices plummeted to a one-year low below $83 a barrel Friday in European trading as investor fears of a severe global economic down...

Does Higher Volatility Indicate A Push Toward Turning Point?

CNBC | Jeff Cox | Posted 05.25.2011 | Business

Stronger volume in stock trading Friday could raise hopes that the eight-day blowout on Wall Street is pushing toward a capitulation bottom. Over the...

Price Flashbacks: Remember When You Could Afford Milk, Bread And Gas Prices?

Huffington Post | Dave Burdick | Posted 05.25.2011 | Business

The current economic crisis means trillions lost on the stock market, personal fortunes are dwindling and financial institutions are crashing to the g...

Kelsey Grammer Says He Predicted The Economic Crisis, Gloats (VIDEO)

Fox News | Posted 05.25.2011 | Business

Kelsey Grammer joined Neil Cavuto on Fox News to talk about the stock markets, getting out of them, anticipating a worse economy based on things Barac...

Financial Crisis Opinions: Experts Weigh In

Huffington Post | Dave Burdick | Posted 05.25.2011 | Business

Here are brief excerpts from financial experts around the world weighing in on today's stomach-turning economic action. Click the expert's name to rea...

Most Money-Market Funds Will Be Federally Guaranteed For Next 3 Months

AP | MARK JEWELL | Posted 05.25.2011 | Business

BOSTON — Nearly all the $3.4 trillion in money-market mutual funds is expected to be federally guaranteed for at least the next three months, no...