What a week. Events are again conspiring to ruin Wall Street’s weekend, and stock futures are pointing down.
Where to begin? Well, the outcome of the $700 billion bank bailout has become as cloudy as the skies over Manhattan, and some say the uncertainty threatens to derail the financial system, not to mention tonight’s presidential debate.
And […]
Posted on September 30th, 2008 by
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Watching the Nasdaq drop the most points since May 2000, it’s clear Silicon Valley isn’t immune from the bank meltdown on Wall Street. Even the mighty Google and
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Like a well-timed lightning flash and a clap of thunder, Washington Mutual was felled late last night as politicians withdrew their shaking hands and started pointing to alternatives. The failure - by far the biggest - looked like another steal of a deal for JPMorgan Chase, which picked up branches and assets from what had […]
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Updated from 2:13 p.m. EDT An already weak stock market plummeted Monday afternoon after the House of Representatives rejected the $700 billion bailout package.Post-close update: The Dow suffered its largest-ever point dec
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It was WaMu’s 119th birthday on Thursday.
The thrift’s predecessor was incorporated on Sept. 25, 1889, “to offer its stockholders a safe and profitable vehicle for investing and lending.” This helped Seattle residents rebuild after a fire torched the city’s downtown.
The government’s choice of the day to seize the thrift, which became the largest U.S. bank […]
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Facing insolvency, Wachovia became the credit crunch’s latest victim Monday, selling its banking operations to Citigroup for $2.2 billion, or $1 per share. Citi will assume Wachovia’s debt, meaning bondholders will not be wiped out, as they have in some r
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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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The $700 billion bailout package currently moving through Congress is an improvement from the original Paulson proposal. …
Posted on September 29th, 2008 by
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