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September 5, 2008 7:37:07 PM CDT

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Credit Market Chaos track this thread

Started by J Kelman; Last updated Feb 28, 08 6:30 PM CST by D Lim | View history

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Credit Market Chaos

Has the hubris factor finally caught up with private equity, hedge funds, and the rest of the teflon titans?

Stories

Stories 61 - 80 of 218

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  • April 2008

    • $6B From Outside Investors Will Shore Up Wachovia

      Wall Street Journal  |  Apr 13, 08 10:48 PM CDT

      $6B From Outside Investors Will Shore Up Wachovia

      (Newser) - Ailing bank Wachovia will get a $6 billion-$7 billion shot in the arm from outside investors, the Wall Street Journal reports. Specifics of the capital infusion, designed to help the company recover from the credit crisis, haven’t been finalized. Details may be revealed when the company reports first-quarter earnings Monday; it moved the announcement up from Friday without explanation. More »

    • Bank of England Cuts Interest Rate

      Bloomberg  |  Apr 10, 08 7:35 AM CDT

      Bank of England Cuts Interest Rate

      (Newser) - The Bank of England today cut its benchmark interest rate 25 basis points to 5%, reports Bloomberg, hoping to keep the nation’s economy out of recession. Despite the third cut since December, BoE’s rate remains the highest among the Group of Seven industrialized nations; policymakers have drawn fire for being “behind the curve” in responding to the credit crisis. More »

    • US Recession Will Slow World Economy: IMF

      BBC  |  Apr 9, 08 5:51 PM CDT

      US Recession Will Slow World Economy: IMF

      (Newser) - The International Monetary Fund says world economic growth will slow drastically in the next two years. In its new report, the IMF states that the world downturn will be led by the US, which will slip into a "mild recession" this year, the BBC notes. The report calls the current crisis "the largest financial shock since the Great Depression." More »

    • Opposition Finally Backs New Chief for Bank of Japan

      International Business Times  |  Apr 9, 08 2:45 AM CDT

      Opposition Finally Backs New Chief for Bank of Japan

      (Newser) - The Democratic Party of Japan has accepted a new central banker just in time for the crucial meeting of G7 finance leaders in Washington on Friday, reports the International Business Times . The top spot has been vacant since March 19, leaving the bank vulnerable during an unsteady economic time. Masaaki Shirakawa is expected to be formally nominated today as Bank of Japan chief. More »

    • Tough Market Greets Bear Castoffs

      Reuters  |  Apr 7, 08 10:13 AM CDT

      Tough Market Greets Bear Castoffs

      (Newser) - Thousands of Bear Stearns employees face uncertain futures after the investment bank's takeover by JPMorgan, and they’re entering a Wall Street beset with problems and bereft of jobs, reports Reuters. "They are coming into a market at a time when Wall Street doesn't offer much opportunity," one analyst said. Of 26 top executive positions at JPMorgan, only five went to Bear employees. More »

    • Congress to Grill Bernanke on Bear Stearns

      New York Times  |  Apr 2, 08 8:40 AM CDT

      Congress to Grill Bernanke on Bear Stearns

      (Newser) - Federal Reserve Chairman Ben Bernanke steps onto a tightrope today for two days of Congressional testimony focusing on the central bank’s starring role in the Bear Stearns bailout. Bernanke likely will be taken to task for not stepping in earlier, and more forcefully, to avert economic chaos, reports the New York Times . More »

    • Small Banks, States Rip Paulson Plan

      Wall Street Journal  |  Apr 1, 08 9:18 AM CDT

      Small Banks, States Rip Paulson Plan

      (Newser) - Small banks, credit unions, states, and assorted politicians wasted no time ripping into the Bush administration’s plans to rework federal regulation of the financial industry, calling it an amateurish attempt by a “bunch of guys from Wall Street,” reports the Wall Street Journal. “It’s because none of those guys ever worked in a regulated, chartered bank," said one lobbyist for small banks. More »

  • March 2008

    • Diller's Trials Far From Over After IAC Verdict

      Wall Street Journal  |  Mar 31, 08 10:19 AM CDT

      Diller's Trials Far From Over After IAC Verdict

      (Newser) - Barry Diller might have won control over e-commerce company IAC/InterActiveCorp from rival John Malone in court Friday, but the CEO’s real trials have just begun. With the economy tanking and credit markets tightening, Diller’s plan to break up IAC into five “baby Barrys”—including Ticketmaster and the Home Shopping Network—might be tough to pull off, the Wall Street Journal reports. More »

    • Banks Need to 'Fess Up on Risk: G7 Panel

      Wall Street Journal  |  Mar 29, 08 5:14 PM CDT

      Banks Need to 'Fess Up on Risk: G7 Panel

      (Newser) - Top financial regulators today challenged banks to come clean about risks they face, the Wall Street Journal reports. The Financial Stability Forum, a worldwide team of financial honchos—including several central bank chiefs—concluded that “hording of liquidity” was leading to “severe strains” in the lending market. Only greater transparency, they said, could restore lending confidence. More »

    • Clear Channel, Buyers Sue Banks Over Soured Deal

      Wall Street Journal  |  Mar 26, 08 6:02 PM CDT

      Clear Channel, Buyers Sue Banks Over Soured Deal

      (Newser) - The two private-equity firms set to buy Clear Channel sued the group of banks they had engaged to fund the deal, the Wall Street Journal reports. Joined by Clear Channel, Bain Capital and Thomas H. Lee Partners accused the consortium—including Citigroup, Deutsche Bank, and Wachovia—of breaching contract by attempting to back out of the deal amid the tanking credit market. More »

    • Paulson Wants Closer Tabs on Investment Banks

      New York Times  |  Mar 26, 08 2:25 PM CDT

      Paulson Wants Closer Tabs on Investment Banks

      (Newser) - Treasury Secretary Henry Paulson said today that investment banks owe the government more information about their financial condition if they are occasionally allowed to borrow money from the Federal Reserve, the New York Times reports. Paulson seemed to call for tighter regulations before calling the recent bailout of Bear Stearns "precedent only for unusual periods of turmoil." More »

    • Could the Credit Crunch Sink a Whole Country?

      Financial Times (UK)  |  Mar 26, 08 9:10 AM CDT

      Could the Credit Crunch Sink a Whole Country?

      (Newser) - The global credit crisis has spelled disaster for banks and hedge funds, but now worry is mounting that an entire country could go under. Yesterday the central bank of Iceland was forced to raise its interest rate 1.25 percentage points to 15% at an emergency meeting, reports the Financial Times . The surprise move was a desperate effort to curb runaway inflation and prop up the krona, a currency in free fall. More »

    • $19B Buyout of Clear Channel Nearly Dead

      Wall Street Journal  |  Mar 25, 08 7:30 PM CDT

      $19B Buyout of Clear Channel Nearly Dead

      (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 wants to do this deal except for the seller,” said a source. More »

    • The Great Depression It's Not

      Reuters  |  Mar 25, 08 11:21 AM CDT

      The Great Depression It's Not

      (Newser) - Certainly, the 8-month-old credit crisis is serious, but the market turmoil is unlikely to kick off the next Great Depression, financial markets editor Mike Dolan writes for Reuters. "You could be forgiven for thinking we will all soon be hoarding food and reverting to a barter economy," he snipes, but the real issue is psychological: "The problem is lack of confidence." More »

    • Bad Credit News Means Good Tidings for Analysts

      Guardian (UK)  |  Mar 24, 08 5:01 PM CDT

      Bad Credit News Means Good Tidings for Analysts

      (Newser) - The Bear Stearns crisis was bad news for many, but it was good news—or at least good business—for financial analysts at London-based Breaking Views. The credit crunch is increasing demand for the company’s financial insights, offered online and, through various partnerships, in print. Breaking Views is seizing the moment, courting more newspapers and offering free online columns, the Guardian reports. More »

    • Boomers Move Back Home

      Associated Press  |  Mar 24, 08 3:06 PM CDT

      Boomers Move Back Home

      (Newser) - Young people have long fled recessionary job markets by moving back home, but the current crisis has a new demographic scurrying there: the middle-aged. "This is not like, 'OK, my son just graduated from college and needs to move back in' type of thing," says one financial planner, who has seen more adult children leaning on parents for everything from rent to groceries. More »

    • 'Regulation' No Longer a Dirty Word in DC

      Wall Street Journal  |  Mar 24, 08 11:38 AM CDT

      'Regulation' No Longer a Dirty Word in DC

      (Newser) - "Regulation" is becoming less of a dirty word in Washington in the wake of the mortgage meltdown, woes on Wall Street, and scares over tainted food and toys. Many Democrats and even some Republicans want a shift from voluntary industry standards in vogue since the Reagan administration. "We're in for a potentially significant regulatory response," one economist tells the Wall Street Journal . More »

    • JPMorgan Boosts Bear Stearns Offer to $10/Share

      Wall Street Journal  |  Mar 24, 08 9:38 AM CDT

      JPMorgan Boosts Bear Stearns Offer to $10/Share

      (Newser) - JPMorgan will quintuple its takeover offer for Bear Stearns, setting a new $10-per-share price today after a weekend of tense renegotiations. Bear shareholders had objected to the proposed $2 deal, saying the bank-saving bid was a heist. JPMorgan is also buying 95 million more shares of the bank, which will give it 39.5% ownership and improved odds of getting the deal accepted, the Wall Street Journal reports. More »

    • JPMorgan in Talks to Boost Bear Stearns Bid

      New York Times  |  Mar 24, 08 4:00 AM CDT

      JPMorgan in Talks to Boost Bear Stearns Bid

      (Newser) - JPMorgan Chase was in negotiations last night to quintuple its bid for Bear Stearns following a storm of angry protests by Bear shareholders over the initial bargain-basement deal for the investment banking giant, reports the New York Times . Under the new deal, JPMorgan Chase would pay $1 billion—$10 a share, up from the initial offer of $2 a share, which represented just one-fifteenth of Bear’s market price. More »

    • Lawmakers Gird for Battle Over Wall Street Reforms

      New York Times  |  Mar 23, 08 8:04 AM CDT

      Lawmakers Gird for Battle Over Wall Street Reforms

      (Newser) - Lawmakers are debating how to regulate and oversee financial institutions to prevent another Bear Stearns near-catastrophe. But exactly what that solution should look like depends on who's doing the proposing. President Bush and Wall Street say that Washington's heavy hand could hamstring the industry’s ability to innovate, reports the New York Times. Democratic lawmakers contend it’s time to tighten controls to prevent future meltdowns. More »

Stories 61 - 80 of 218

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Stock traders check on prices before the market opens at the New York Stock Exchange on Monday, July 30, 2007. Stock futures lifted Monday, as Wall Street, still jittery about a possible credit crunch...   (Associated Press)
  (Index Stock (http://www.indexstock.com))
An investor looks at a screen at a stock exchange in Changchun in northeast China's Jilin province Tuesday June 10, 2008. Asian stock markets sank Tuesday, with China's most-watched index plunging 7.7...   (AP Photo)
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Jim Cramer's Complete Market Meltdown Rant! (Uncut)   (Aliceangel77 (YouTube))

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Background

Financial Market
Wikipedia

In economics a financial market is a mechanism that allows people to easily buy and sell (trade) financial securities (such as stocks and bonds), commodities (such as precious metals or agricultural goods), and other fungible items of value at low transaction costs and at prices that reflect efficient...

» Read more about Financial Market at Wikipedia

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