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TUESDAY, NOVEMBER 24, 2009
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NEWS ABOUT: financial institutions

financial institutions stories: 38 news summaries

21 - 38 of 38 Stories | << Prev 1 2

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US Will Buy Shares in American Banks

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

Oct 11, 08 5:43 AM CDT
(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... More »

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Henry Paulson • nationalization • bank • Treasury Department • credit crisis • financial institutions • capital markets • Group of Seven • financial crisis

 Senate to 
 Tweak Bailout 
 —But not Much 

Dissenting Dems, GOP want different changes

Sep 30, 08 1:39 PM CDT
(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... More »

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Wall Street • Republican • politics • Senate • House of Representatives • financial sector • financial institutions • bailout • legislative maneuvering • party politics • financial crisis

 Charlotte Booms Amid Bust 

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

Sep 28, 08 6:15 PM CDT
(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... More »

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financial sector • financial institutions • Charlotte • banking industry

Raise Your Hand if You Want Part of the Bailout

Lobbying intense as Wall Street firms jockey to profit from rescue

Sep 22, 08 8:03 AM CDT
(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... More »

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Treasury Department • financial sector • financial institutions • bailout • economy • financial crisis

Young Hopefuls Hit Hard by Credit Crunch

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

Sep 21, 08 7:00 PM CDT
(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... More »

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Wall Street • Morgan Stanley • banking • job security • financial institutions • intern

ANALYSIS

Can Their $700B Rescue
Plan Do the Trick?

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

Sep 21, 08 1:49 PM CDT
(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... More »

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Henry Paulson • Washington • Treasury Department • credit • financial institutions • subprime crisis • bailout

 Paulson: Plan 
 Still Leaves 
 Taxpayers at Risk 

Rescue proposal also won't save every financial institution

Sep 21, 08 10:55 AM CDT
(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... More »

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Henry Paulson • Washington • Treasury Department • financial institutions • taxpayers • bailout

In Fla., Obama Lays Into 'Panicked' Mac

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

Sep 19, 08 3:00 PM CDT
(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... More »

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Florida • Barack Obama • John McCain • Wall Street • retirees • Social Security • female voters • financial institutions • Election 2008 • bailout • Main Street

 Morgan Stanley, WaMu
Edge Closer to Deals

WaMu readies for sale while Morgan mulls merger options

Sep 19, 08 3:07 AM CDT
(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 ... More »

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Bank of America • Wachovia • Morgan Stanley • Citibank • credit crisis • Washington Mutual • financial institutions • JPMorgan Chase • financial crisis

 Fed Holds Crisis Talks on Lehman With Top Bank Execs

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

Sep 13, 08 6:39 AM CDT
(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... More »

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Wall Street • Bank of America • Henry Paulson • Lehman Brothers • financial institutions • Federal Reserve Bank of New York • financial crisis

MARKETS

 Stocks Reverse; Dow Down 280 

Lehman Bros., housing weigh on investor sentiment

Sep 9, 08 3:16 PM CDT
(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... More »

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Dow Jones • home sales • American Express • Lehman Brothers • Nasdaq • AIG • financial institutions • S&P 500 • oil prices • Korea Development Bank • Hurricane Ike

OPINION

Public Silence Greets Wall St. Blunders

Small savers are suffering, but giving financiers a free ride

Jul 19, 08 3:10 PM CDT
(Newser) - America's financiers have driven the country into crisis with stunning recklessness, James Grant writes in the Wall Street Journal, but public anger seems strangely dormant. Populist politicians railed against Wall Street during past financial crises, Grant notes, but today's politicians appear largely uninterested in taking aim at the easy target. More »

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Wall Street • Federal Reserve • finance • financial markets • credit market • credit crisis • financial institutions • subprime crisis • financial crisis

$19B Buyout of Clear Channel Nearly Dead

Credit woes have sale of radio giant to private firms crumbling

Mar 25, 08 7:30 PM CDT
(Newser) - A $19 billion bid to privatize Clear Channel appears likely to fall through as buyers and financiers bicker—with credit-crunch-induced liquidity woes a major stumbling block, the Wall Street Journal reports. A credit agreement between private equity firms and the banks funding the move has become shaky. “No one... More »

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Clear Channel • Bain Capital • Thomas H. Lee Partners • privatization • bank • credit market • financial institutions • sale

Subprime Lender CEOs Defend Exec Pay

Merrill, Citi and Countrywide honchos cashed in as companies foundered

Mar 7, 08 3:50 PM CST
(Newser) - Banking executives who took home huge paychecks even as the subprime mortgage crisis battered their companies appeared before Congress today to defend their actions. Democrats on the House Oversight Committee grilled them about their enormous pay packages as Republicans apologized to them and questioned the premise of the hearing, the... More »

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Congress • Citigroup • executive compensation • Bank of America • Merrill Lynch • Countrywide • bonuses • Charles Prince • Angelo Mozilo • Stanley O'Neal • financial institutions • subprime crisis • House Committee on Oversight and Government Reform

Credit Suisse Cuts Profits $1B on Trader Errors

Trader 'error' prompts bank to take $2.85B writedown; shares plummet

Feb 19, 08 6:58 AM CST
(Newser) - Credit Suisse share prices plummeted 10% today after the bank announced that some traders had overvalued asset-backed securities, prompting the bank to take a $2.85 billion writedown and drop first-quarter profit projections by $1 billion, Bloomberg reports. Switzerland’s second-largest bank suspended the traders and said it would review... More »

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Credit Suisse • Qatar • corporate earnings • banking • bank fraud • financial institutions • sovereign wealth funds • Jérôme Kerviel • Société Générale • subprime crisis • bank scandal

System Vulnerable to 'Genius' Rogue Traders

Criminal financial wizards can run amok, experts warn

Jan 30, 08 6:55 PM CST
(Newser) - Banks hoping to weed out potential rogue traders need to realize that they can strike anywhere, any time—and that their best traders could be the likeliest suspects, Reuters warns. "All of the things that make a great trader make a great fraudster, too," noted a consultant. Experts... More »

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fraud • trading • financial institutions • stock fraud • Jérôme Kerviel • Société Générale

FBI Targets 14 Firms in Subprime Fraud Probe

Suspected cases of mortgage fraud up  in two years

Jan 30, 08 6:26 AM CST
(Newser) - The FBI is investigating 14 companies linked to the subprime mortgage crisis, the Wall Street Journal reports. The bureau is pursuing allegations including accounting fraud  and insider trading, said a bureau spokesman. An investigation into the complex secondary mortgage market could implicate major firms that have lost billions of investor... More »

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FBI • insider trading • business • mortgage • bank • financial institutions • subprime crisis

Americans Split on Borrower Bailout

Lenders get no sympathy: 72%
in poll oppose help

Dec 11, 07 12:54 PM CST
(Newser) - About half of Americans say borrowers snared in the subprime mortgage mess brought the trouble onto themselves, but they nevertheless deserve "special treatment," CNNMoney reports. In a poll of 1,002 adults, 51% also said they felt sorry for borrowers, with 46% blaming financial institutions' lending policies for... More »

MORE ABOUT:
Bush administration • subprime mortgages • foreclosure • financial institutions • borrowers • lending practices

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