iOS app Android app

Finance

Can Alec Baldwin Fix The Economy? (No.)

Dave Burdick | Posted 05.25.2011 | Business
Dave Burdick

Sometime last week my friend, Noah Garfinkel, said he just wished that Alec Baldwin would be on CNBC in character talking about the economy because it...

Measuring The Crisis: Look Past Stocks

BusinessWeek | Ben Levisohn | Posted 05.25.2011 | Business

With the financial system bailout plan derailed by the House of Representatives on Sept. 29, the resulting plunge in equities made headlines around t...

What's Next In The Wall Street Crisis With A Dead Deal?

Huffington Post | Dave Burdick | Posted 05.25.2011 | Business

Today, the House of Representatives denied the bailout deal negotiated by Treasury Secretary Henry Paulson, President George W. Bush and Congressional...

Hedge Funds Brace For Investors To Cash Out

New York Times | Louise Story | Posted 05.25.2011 | Business

First, the money rushed into hedge funds. Now, some fear, it could rush out. Even as Washington reached a tentative agreement on Sunday over what may...

Good Money After Bad

Neil Grossman | Posted 05.25.2011 | Business
Neil Grossman

There is one more cost our national financiers are not considering. In issuing this boatload of new debt, it in all likelihood will raise the cost of all the other debt we are now carrying.

House rejects $700B bailout in stunning defeat

AP | JULIE HIRSCHFELD DAVIS | Posted 05.25.2011 | Business

WASHINGTON — In a vote that shook the government, Wall Street and markets around the world, the House on Monday defeated a $700 billion emergenc...

Yale Professor Argues For Global Monetary Authority

Economix | Catherine Rampell | Posted 05.25.2011 | Business

Jeffrey E. Garten, a professor at the Yale School of Management, had a piece in The Financial Times last week arguing for the need for a Global Moneta...

Dow plummets record 777 as financial rescue fails

AP | TIM PARADIS | Posted 05.25.2011 | Business

NEW YORK — The failure of the bailout package in Congress literally dropped jaws on Wall Street and triggered a historic selloff _ including a t...

Apple Plunges After Downgrades

Silicon Alley Insider | Dan Frommer | Posted 05.25.2011 | Business

Apple (AAPL) shares are down 14% to around $110 -- their lowest since May, 2007 -- after Morgan Stanley and RBC both downgraded the stock this morning...

Fed Pumps Further $630 Billion Into Financial System

Bloomberg | Scott Lanman and Craig Torres | Posted 05.25.2011 | Business

Sept. 29 (Bloomberg) -- The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to allevi...

High-End Stripper Index Suggests Power Shift To Washington, DC

Washington Post | Posted 05.25.2011 | Business

There has been some responsible reportage on the plight of New York-based strippers during the Wall Street crisis of late -- it seems that the high-en...

You Really Believe We're the Priority?

Neil Grossman | Posted 05.25.2011 | Business
Neil Grossman

JPMorgan ends up with the good part of Wamu for a song -- the taxpayer ends up with "Toxic Waste." Seems to me like a great deal for the taxpayer.

Chase Buys Washington Mutual: Fewer Chicago Branches?

Chicago Tribune | Posted 05.25.2011 | Chicago

The shotgun acquisition of Washington Mutual by JPMorgan Chase & Co. to prevent the former's collapse could mean the consolidation of a number of bank...

WaMu becomes biggest bank to fail in US history

AP | MADLEN READ | Posted 05.25.2011 | Business

NEW YORK — As the debate over a $700 billion bank bailout rages on in Washington, one of the nation's largest banks _ Washington Mutual Inc. _ h...

Eighty Percent Of Washington Mutual Chicago Branches Could Close: Report

Crain's Chicago Business | Ann R. Weiler, Alby Gallun and Lorene Yue | Posted 05.25.2011 | Chicago

"J. P. Morgan Chase & Co. is likely to shut down all but 15% to 20% of Washington Mutual Inc.'s Chicago-area branches, according to the real estate br...

How Can Capitalism Ever Be The Same?

Weekly Standard | Irwin M. Stelzer | Posted 05.25.2011 | Business

NO MATTER WHAT deal is finally cut between Hank Paulson, the Democrats, and unhappy conservative Republicans, or even if no deal at all is finally wo...

Warren Buffett's Ukulele Gig In Los Angeles Tonight

Los Angeles Times | Geoff Boucher | Posted 05.25.2011 | Business

Warren Buffett, the world's richest man according to Forbes magazine, will appear Friday night at the Paley Center for Media in Los Angeles where he w...

Playboy Laying Off Bunnies Amid Financial Crisis

Daily Star | Katie Begley | Posted 05.25.2011 | Business

PLAYBOY boss Hugh Hefner is laying off some of his bunnies because of the credit crunch. The tycoon is reported to have been told to "strip back" loy...

Stocks mixed on bailout clash; tech slides

AP | TIM PARADIS | Posted 05.25.2011 | Business

NEW YORK — Financial markets remained on edge Friday after the Bush administration's proposal for a $700 billion banking bailout ran into opposi...

Bailout Deal Delayed, Bush Says A Deal Will Get Done

Dave Burdick | Posted 05.25.2011 | Business

**UPDATE** Rep. Adam Putnam (R-Fla.) has credited Republican leadership and the leadership of Sen. John McCain, who said he had suspended his campaig...

Bailout deal breaks down; Paulson back to Capitol

AP | JENNIFER LOVEN and JULIE HIRSCHFELD DAVIS | Posted 05.25.2011 | Business

WASHINGTON — A Republican rebellion stalled government efforts Thursday to avoid economic meltdown, a chaotic turnaround that disrupted the chor...

The 2002 Warning About Wall Street

New York Times | Ron Suskind | Posted 05.25.2011 | Business

In contrast to dividends, Mr. Greenspan intoned, "Earnings are a very dubious measure" of corporate health. "Asset values are, after all, just based o...

Washinton Mutual Sale Still Looms

New York Times | Eric Dash and Andrew Ross Sorkin | Posted 05.25.2011 | Business

Federal regulators are moving quickly to broker a deal for Washington Mutual as the savings-and-loan comes under mounting financial pressure, accordin...

Bailout deal breaks down; Paulson back to Capitol

AP | JENNIFER LOVEN and JULIE HIRSCHFELD DAVIS | Posted 05.25.2011 | Business

WASHINGTON — A Republican rebellion stalled government efforts Thursday to avoid economic meltdown, a chaotic turnaround that disrupted the chor...

Stocks rise on bailout hopes; credit remains tight

AP | TIM PARADIS | Posted 05.25.2011 | Business

NEW YORK — Financial markets grew more upbeat Thursday as political leaders said they struck an agreement in principle on a massive spending pla...