Asian Markets Plunge Again

Indexes rise after Wall St. rally and rate cut hopes, but fall on weak earnings reports

(NEWSER) - Markets across Asia rebounded today following a huge Wall Street rally and hopes of a drop in interest rates, but failed to hold on to some of their biggest gains as investors hedged against weak earnings reports from heavy hitters such as Panasonic and Sony, MarketWatch reports. Meanwhile, the Japanese yen retreated against global currencies on news of the potential rate cut. More»

(NEWSER) - Stocks were down in Europe and Asia today amid fears of a global recession despite the massive government bailout being arranged in the US. Europe's Dow Jones Stoxx 600 Index dipped for a second day, falling 1.8% in early trading, Bloomberg reports. Barclays fell 3.6% and Australia's Macquarie Group Ltd.dipped 4.5%. The MSCI Asia Pacific Index dropped .6%, ending a two-day rally. "The problems aren't resolved," warned one analyst. More»

No, although a couple were charged and some were embarrassed

(NEWSER) - The government could soon prosecute a few Wall Streeters who allegedly played a role in the financial crisis, and the commission that uncovered those at fault was modeled on a similar probe after the Great Depression. So did anyone who precipitated that collapse ever go to jail? Nope, writes Brian Palmer in Slate ’s Explainer column: “The rampant speculation and eventual crash of 1929 weren't caused by fraud or illegality, but by unreasonable optimism and loose financial regulation.” More»

Inquiry panel will name names on Thursday

(NEWSER) - It might finally be time to pay for a handful of Wall Streeters, as the Financial Crisis Inquiry Commission prepares to name names for possible prosecution, insiders tell the Huffington Post . The panel, which will release three separate reports on Thursday, is turning several cases over to state and federal authorities, who may prosecute. It’s a leap forward in the US response to the financial crisis, say people involved. More»

Even household names like Sara Lee unlikely to survive

(NEWSER) - The economic crisis can be blamed for the death of quite a few large companies already—think Circuit City, Northwest Airlines, and Countrywide—so which ones can we expect to go bye-bye this year? Here are 10 American companies that seem unlikely to survive, from 24/7 Wall St. via Daily Finance :

• Office Depot: It can’t compete with Office Max or Staples, and is trying to manage 1,150 costly locations on very thin margins. A takeover by a rival or another chain like Target appears likely.
• Frontier Airlines: It was bankrupt when Republic Airways Holdings bought it in 2009, and is too small to compete with the larger airlines that are increasingly dominating the domestic carrier market.