Angry Shareholders Want More for Bear Stearns  

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• Recession Fears Overblown: Economists

  May 14, 08 9:50 AM CDT
  A growing number of economists are saying, cautiously, that the US might have pulled back from the brink of recession, the Wall Street Journal reports. The experts credit swift action by the Federal Reserve to lower interest rates and save Bear Stearns in March, and even the ongoing distribution of fiscal-stimulus checks, as catalysts for the detour. More »

• Treasury Boss: Worst Is Over

  May 7, 08 2:45 AM CDT
  The US is emerging from the credit woes triggered by the turmoil over subprime mortgages—despite the continuing wave of foreclosures across the nation, according to Treasury Secretary Henry Paulson. Paulson, in the most positive comments yet from the White House on the nation's economic troubles, in part credited the federal bailout of Bear Stearns, reports the Wall Street Journal. More »

• Bear Bailout Called 'Worst Mistake in a Generation'

  Apr 29, 08 8:18 AM CDT
  A former top-ranking Fed official has called the central bank's decision to bail out Bear Stearns its "worst mistake in a generation," the Wall Street Journal reports. The official, former chief of monetary policy, compares the hasty move to errors that helped trigger the Great Depression. He accused officials of ignoring other options, such as demanding more from buyer JP Morgan, seeking other suitors or removing certain assets from Bear's portfolio. More »

• JPMorgan Q1 Profits Plunge 50% on $5.1B Writedowns

  Apr 16, 08 7:18 AM CDT
  JPMorgan Chase, battling $5.1 billion in subprime writeoffs and deteriorating consumer credit, reported first quarter profits fell 50%, reports the Wall Street Journal. CEO Jamie Dimon warned the outlook for the remainder of 2008 was likely as grim. Morgan—the 3rd-largest US bank—said profits dropped to $2.37 billion, or 68 cents a share, down from $4.79 billion, or $1.34 a year earlier. More »

• Bear Stearns Could Face Civil Charges

  Apr 15, 08 4:55 AM CDT
  Bear Stearns has been warned it could face civil charges stemming from an SEC probe into its anti-competitive bidding for municipal bonds, the Wall Street Journal reports. The firm is also being investigated by the FTC for alleged violations of consumer protection laws involving its mortgage-servicing unit. Bear Stearns officials said the company is co-operating with both agencies and the Department of Justice. More »