financial institutions

Stories 21 - 40 | << Prev   Next >>

Dow Off 156 as Rally Slows
 Dow Off 156 as Rally Slows 
MARKETS
May 11, 2009 3:10 PM CDT

Dow Off 156 as Rally Slows

(Newser) - Stocks were down today on continued sluggishness from hard-hit areas like financials, industry, and energy, the Wall Street Journal reports. Though the improving market has led to an influx of cash from investors, key indices for transportation and industry have lagged. The Dow was down 155.88, to 8,418....

Geithner Pitches Overhaul of Financial Oversight

(Newser) - Tim Geithner today proposed a major expansion of federal regulatory powers, reports the Washington Post. In testimony before Congress, the Treasury chief called for hedge funds, derivatives markets, private equity firms, and major insurers like AIG to be brought under strict federal supervision for the first time. His plan, which...

Feds Seize Wholesale Credit Unions

Regulators move to stabilize credit union industry as condition reaches critical

(Newser) - Federal regulators have taken control of two major wholesale credit unions, which provide services to thousands of credit unions nationwide, to stabilize the industry, Bloomberg reports. The institutions, which have combined assets of $57 billion, failed the so-called stress test, showing an unacceptably high level of risk from mortgage-backed securities....

MBA Programs Face Their Role in Financial Crisis
MBA Programs Face Their Role in Financial Crisis
ANALYSIS
Mar 17, 2009 3:50 PM CDT

MBA Programs Face Their Role in Financial Crisis

(Newser) - Executives have taken a lot of blame for the financial crisis, whether for focusing on short-term gains in stock price or placing too much faith in ultra-complex financial instruments, writes Bradford Plumer for the New Republic. But what about the business schools that taught them to manage that way in...

Bailout Firms Lobbied Big Time for TARP Funds

Spending on charities, sponsored meetings topped $330,000

(Newser) - Several of the firms who would receive taxpayer funds from the TARP bailout spent money on meetings and charitable gifts that benefited lawmakers, the Hill reports. Fannie Mae and Freddie Mac, for example, donated $330,000 in the last 6 months of 2008 to politically affiliated charities. Bank of America,...

I'd Rather Say I'm in Porn: Shunned Wall Streeter

Financial types feel they're unfairly 'vilified' in crisis

(Newser) - Working on Wall Street used to have glamor to it—but now, saying you work at JPMorgan or Goldman Sachs immediately establishes you as “one of them,” the New York Times reports. Wall Streeters are facing a new pariah status, and many believe they’re taking an unfair...

Congress Wants to Boost Fed's Oversight Role

But giving the agency power could stretch it thin, expose it to politics

(Newser) - The Federal Reserve would become more powerful under a congressional plan to give it increased oversight of banks, investment firms, insurance companies, hedge funds, and other firms that have enough economic clout to affect the entire US financial system, reports the Washington Post. “We need to give some regulator...

Bank Woes Push Dow Down 196
 Bank Woes Push Dow Down 196 
MARKETS
Dec 11, 2008 3:23 PM CST

Bank Woes Push Dow Down 196

JPMorgan Chase, Bank of America, Citigroup all see big drops

(Newser) - The markets slid today as JP Morgan’s CEO made pessimistic comments about home prices, the Wall Street Journal reports. Adding to investor malaise was a Labor Department report that unemployment insurance claims are at a 26-year high, and continued uncertainty about the Detroit bailout. The Dow was down 196....

Poll: Americans Back Economic Intervention

A growing majority blames financial crisis on deregulation

(Newser) - A clear majority of Americans approve of Washington taking firm steps to intervene in the nation's struggling economy, a Los Angeles Times poll finds. Two-thirds favor tighter restrictions on financial institutions and 60% back help for homeowners facing foreclosure. A huge 87% blamed deregulation for the economic crisis—up 25% ...

US Will Buy Shares in American Banks

G7 agrees on 'aggressive action plan' after emergency finance meeting

(Newser) - Treasury chief Henry Paulson has announced plans to buy up shares in America's troubled banks, Reuters reports. The government will purchase equity in banks "as soon as possible," using some of the $700 billion approved by Congress to rescue the economy, Paulson said yesterday after a crisis meeting...

Senate to Tweak Bailout —But not Much

Dissenting Dems, GOP want different changes

(Newser) - Senators are scrambling to revive legislation for the financial bailout after its surprise failure in the House yesterday, but must strike the right balance to attract new House votes without driving away initial supporters, Bloomberg reports. House Republicans want an expanded role for the FDIC in the bailout and for...

Charlotte Booms Amid Bust
 Charlotte Booms Amid Bust 
Sep 28, 2008 6:15 PM CDT

Charlotte Booms Amid Bust

City is second-largest financial center in US, with $2 trillion in assets

(Newser) - As the rest of the nation struggles through the mortgage bust, Charlotte, NC, is experiencing a boom, Time reports. The pro-business Southern city—home of Bank of America and eight other Fortune 500 firms—manages $2 trillion in assets, making it the second-largest financial center in the US behind New...

Raise Your Hand if You Want Part of the Bailout

Lobbying intense as Wall Street firms jockey to profit from rescue

(Newser) - Where there’s $700 billion of government money, there are lobbyists. Financial institutions are jockeying for their piece of the massive bailout bill that’s being rushed through Congress, the New York Times reports, with everyone from insurers to mortgage lenders looking to profit by unloading assets under the most...

Young Hopefuls Hit Hard by Credit Crunch

Interns give up dream of retiring at 35 with house in Hamptons

(Newser) - The sad eyes of interns watched Wall Street's precipitous drop all week. These "lackeys," who had worked all summer at investment firms, can no longer expect to  retire at 35 with houses in the Hamptons and "a closetful of Brioni suits and Hermès ties," David...

Can Their $700B Rescue Plan Do the Trick?
Can Their $700B Rescue
Plan Do the Trick?
ANALYSIS
Sep 21, 2008 1:49 PM CDT

Can Their $700B Rescue Plan Do the Trick?

Experts say action is needed, but doubt if it will be enough

(Newser) - Forget white and blue: Uncle Sam is all red these days after swallowing hundreds of billions in bad mortgages and coughing up billions more to save strapped businesses. As the Feds strategize a solution to the mess, experts are unsure if the plan will work and how much it’ll...

Paulson: Plan Still Leaves Taxpayers at Risk

Rescue proposal also won't save every financial institution

(Newser) - Treasury Secretary Henry Paulson, knee-deep in negotiations to save the floundering US finance industry, had a grim warning for Americans today: “There are no guarantees, and the taxpayer is at risk,” Paulson told Fox News Sunday, adding, “The concern I have is for the American people...

In Fla., Obama Lays Into 'Panicked' Mac

Dem touts focus on 'Main Street,' targets state's women, retirees

(Newser) - Barack Obama criticized the administration’s response to the plight of working families today, while calling for steps to regulate large financial institutions, CNN reports. “We cannot only have a plan for Wall Street,” he said. “We must also help Main Street as well.” The Democrat...

Morgan Stanley, WaMu Edge Closer to Deals

WaMu readies for sale while Morgan mulls merger options

(Newser) - Two of the biggest financial institutions in the midst of the market turmoil are moving closer to hammering out deals. Washington Mutual's suitors are believed to include Citibank, JP Morgan and Bank of America, insiders tell Bloomberg, while Morgan Stanley and Wachovia have stepped up merger talks, reports the New ...

Fed Holds Crisis Talks on Lehman With Top Bank Execs

Wall St. bigwigs in 'game of chicken' with government officials

(Newser) - The New York Fed called an emergency meeting of Wall Street heavyweights last night to try to avert a collapse of Lehman Brothers, the Wall Street Journal reports. Top execs of all the big financial firms were urged by NY Fed Chief Timothy Geithner to work together to save the...

Stocks Reverse; Dow Down 280
 Stocks Reverse; Dow Down 280 
MARKETS
Sep 9, 2008 3:16 PM CDT

Stocks Reverse; Dow Down 280

Lehman Bros., housing weigh on investor sentiment

(Newser) - After a strong rally yesterday following news of the Fannie/Freddie bailout, stocks gave most of the gain back today as the failure of talks between Lehman Brothers and Korea’s state bank sent shares in the investment giant down 44.1%, MarketWatch reports. The Dow fell 280.01 to close...

Stories 21 - 40 | << Prev   Next >>
Most Read on Newser