Optimism that Monday’s intraday rebound marked some kind of meaningful bottom took a serious blow Tuesday as the Dow tumbled over 500 points, or 5.1%, to 9447. The S&P fell 5.7% to 996.23, its first close below 1000 since 2003, while the Nasdaq tumble
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At a time when many companies are looking for capital to survive, MetLife is going on the offense to capitalize on opportunities.
The life insurer said it would sell 75 million common shares, or about $2.76 billion based on Tuesday’s closing price, to supplement its capital position, money that would be used for both general corporate purposes […]
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Warren Buffett certainly knows how to get value for his money: The stake he put into Goldman Sachs last month not only netted him $5 billion in preferred stock and warrants to buy $5 billion in common stock at $115 a share, it boosted one of the last inve
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About a month ago Glassdoor.com noticed that among employees contributing unvarnished truth about their bosses, Kerry Killinger of Washington Mutual was getting some of the worst reviews. Employees were calling him arrogant and out of touch with the compa
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The current turmoil in the financial markets is “far worse” than the 1987 crash, the 1998 Long-Term Capital Management crisis, or the bursting of the tech bubble, says Jeff Matthews of Ram Partners.Those past episodes, while painful, were mainly
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The common thread in many aggressive rate cutting periods is the suggestion that regulators are “pushing on a piece of string”, meaning lower rates only matter if banks are willing to lend. This is true today, even with global central banks standing united against the evils of contagion and chaos in credit markets. Stock markets […]
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September was a brutal month for hedge funds. In fact, it was the worst-month ever for hedge funds, according to Hedge Fund Research Inc., and many of the industry’s erstwhile stars suffered debilitating declines.Veteran hedge fund mana
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The mood on Wall Street is somber these days, but the recent market mayhem nonetheless has been fodder for amateur and professional wags who have found a humorous, if not silver, lining in the meltdown.
With a crisis that has led to shotgun sales of Bear Stearns and Merrill Lynch, the near collapse of American International Group and the […]
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