Charlotte Booms Amid Bust

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  Nov 24, 08 8:58 AM CST
  Stocks kept Friday’s good mojo going this morning, after the government announced a massive plan to prop up Citigroup. The Dow rose 145 points at the open, as Citi shares leaped 57%, and pulled the rest of the sector with them. Bank of America rose 13%, while Morgan Stanley jumped 14% and Goldman Sachs 8%, the Wall Street Journal reports. More »

• Senate to Tweak Bailout —But not Much

  Sep 30, 08 1:39 PM CDT
  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 the SEC to assess the real value of the troubled securities before the government buys them.
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• Raise Your Hand if You Want Part of the Bailout

  Sep 22, 08 8:03 AM CDT
  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 favorable terms. Competition is also fierce to manage those assets once the government acquires them, a $1 billion-per-year job. More »

• Merrill Panic May Mark Bottom of Stock Market

  Aug 1, 08 10:30 AM CDT
  Merrill Lynch CEO John Thain has seen better days, Floyd Norris writes in the New York Times. He's gone from “cockiness to capitulation. Distinction to desperation.” Thain recently unloaded a bundle of his company’s securities for 22 cents on the dollar and raised $8.5 billion from a stock sale. But this uncharacteristic fear could indicate that Wall Street has finally hit bottom. More »