How big is the $700 billion financial bailout package for the markets? Big enough that a change in perception as to whether it will pass can overshadow a cut in outlook from industrial and financial powerhouse General Electric.
Initially down after GE slashed its quarterly and full-year forecast, Dow Jones futures turned higher in later pre-market […]
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After a couple weeks of just trying to keep up with developments in the financial crisis, reporters and bloggers are taking halting steps toward describing the mythos of the investment banker.
It’s been a while since Tom Wolfe and Bret Easton Ellis popularized the bespoke-suited arrogance commonly associated with the financial world’s anointed — the easy […]
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Having been laden with the acronym TARP, the Treasury’s Troubled Asset Relief Program sounds like a pretty flimsy rescue operation. Perhaps not since the Committee to Re-Elect the President presaged Richard Nixon’s fall from the presidency have we seen a less confidence-inspiring acronym. A tarp, short for Tarpaulin, is defined by dictionary.com as “a protective […]
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Updated from 5:13 p.m. EDT Conventional wisdom on Wall Street is a rescue plan of some kind will be announced this weekend. “We will rise to the occasion,” President Bush said Friday morning, promising “a substantial
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There’s nothing like a belle to bring a festive mood to an otherwise gloomy ball, and today that honor belongs to Goldman Sachs, which has drawn attention - and money - from none other than Warren Buffett.
Stock futures are pointing up on news of the uber-investor’s plan to purchase a $5 billion stake in the […]
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Washington Mutual paid former CEO Kerry Killinger $14.4 million in 2007 and over $54 million from 2002-07, Forbes reports. In return, the nearly 120-year-old firm was led into the biggest bank failure in U.S. history. …
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Like a leaky boat, Wall Street just keeps sinking amid controversy over the proposed government bailout. And Fed chief Ben Bernanke has poured more cold water on the investing mood by saying global markets remain under extraordinary stress.
Stock futures are pointing lower as Congress has shown some reluctance to rubber-stamp the $700 billion bank rescue […]
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From Silicon Alley Insider, Sept. 26, 2008:BlackBerry maker Research In Motion (RIMM) shocked the market yesterday, sending shares down 20% after hours
– now down 25% this morning in high-volume trading — when it said
gross margins would decline next
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