Business Wire (Free subscription) | yesterday
NEW YORK--(BUSINESS WIRE)--Fitch Ratings has taken the following rating actions on Bear Stearns mortgage certificates. The classes represent a beneficial ownership interest in separate trust
The Telegraph (Free subscription) | 4 hours ago
Bear Stearns. Northern Rock. Lehman Brothers. HBOS. The independence of each of these banks was ended by a run on the shares caused by concerns over their future liquidity.
New York Supreme Court Criminal Ter (Free subscription) | yesterday
Source: Lexology, October 6, 2008. Reassessing risk assessment Bricker & Eckler LLP "AIG, Bear Stearns, Fannie Mae, Freddie Mac, Lehman Bros. et al. are not the failure of internal controls, examination of financials, or Sarbanes-Oxley, but they are the result of a more fundamental flaw in governance: Failure to assess, and advise the board of an understandable assessment of, risks to the enterprise...
Bizblogger (Free subscription) | 12 hours ago
Lehman CEO Richard Fuld appeared before Congress today and asked a fair question : why was Lehman the only firm that was not bailed out by the government? The Feds provided deals to Bear Stearns, AIG, Wachovia, Fannie Mae and Freddie Mac, but allowed Lehman to file for bankruptcy. Granted, the other deals weren't great either, but they were much better than bankruptcy. The problem with government bailouts...
Mirror On America (Free subscription) | yesterday
As we see the collapse of Wall Street , AIG , Bear Stearns , Merrill Lynch , Washington Mutual and Lehman Brothers , we all must wonder what happened. We have been told that our economy was strong . Yet within the last seven to eight months we've seen 19 banks collapse and the kind of volatility in the stock market that makes us all queasy and seasick. Within 20 years, we went from being the most prosperous...
Talking Biz News (Free subscription) | yesterday
Robert Marich of Broadcasting & Cable points out that while viewers are increasing for CNBC and Fox Business Network, advertising remains on the sidelines for now. Marich writes, “That’s because the news is so unsettling and because some financial advertisers themselves—Bear Stearns, Lehman Brothers and Washington Mutual—have collapsed. “‘We won’t push a [financial services] client there simply because...
Gift Hub (Free subscription) | yesterday
NYTimes:Several prominent foundations in the New York area have been particularly damaged by the recent collapse of Lehman Brothers and Bear Stearns and the difficulties of the American International Group. The biggest among them is the Starr Foundation, which held...
Bill Totten's Weblog (Free subscription) | yesterday
by James K Galbraith Washington Post (September 25 2008) Now that all five big investment banks - Bear Stearns, Merrill Lynch, Lehman Brothers, Goldman Sachs and Morgan Stanley - have disappeared or morphed into regular banks, a question arises. Is this bailout still necessary? The point of the bailout is to buy assets that are illiquid but not worthless. But regular banks hold assets like that all...
Heavy-Handed Politics (Free subscription) | 04/10/2008
Bloomberg.com: The financial crisis of the past year has provided a number of surprising twists and turns, and from Bear Stearns Cos. to American International Group Inc., ambiguity has been a big part of the story. Why did Bear Stearns fail, and how does that relate to AIG? It all seems so complex. But really, it isn't. Enough cards on this table have been turned over that the story is now clear....
Daily Pundit (Free subscription) | 04/10/2008
Bailout bill loops in green tech, IRS snooping | Politics and Law - CNET News Bailout type Cost to taxpayers (Source: Reuters) Financial bailout package approved this week up to or more than $700 billion Bear Stearns financing $29 billion Fannie Mae and Freddie Mac nationalization $200 billion AIG loan and nationalization $85 billion Federal Housing Administration housing rescue bill $300 billion Mortgage...
Dad29 (Free subscription) | 03/10/2008
Another respectable bloglodyte doesn't like Palin's reference to "greed" on the mortgage/bailout issue. Anyone who denies "greed" is either dishonest or really, really, really under-informed. Let's go from the top. Mortgage-backed securities (MBS) were invented by Bear Stearns, Lehman Bros., and Goldman Sachs (among others). They were bundles of mortgages, largely sub-prime or "Alt-A", but also including...
New York Post (Free subscription) | 03/10/2008
The US Federal Reserve may lose as much as $6 billion on a portfolio of mortgage-backed assets it took over from Bear Stearns Cos., according to Bank of America Corp. analysts. The Fed will announce on Oct. 23 its quarterly estimate of the fair...
Mark Investments (Free subscription) | 03/10/2008
Jan 11, 2008: Bank of America pays $4 billion US for Countrywide Financial after the mortgage lender goes bust when risky loans to shaky borrowers fail. Jan 30: UBS announces $4 billion in new writedowns, taking total subprime-related writedowns to $18.4 billion. March 16/17: Bear Stearns sold to U.S. investment bank JP Morgan Chase for about $2 [...]
Spectator - The Magazine (Free subscription) | 02/10/2008
It’s hard to keep up with Hank Paulson, the grim-faced US Treasury Secretary and would-be architect of a new financial order. Over the past eight months, since the collapse of the investment bank Bear Stearns, Paulson has been confronted with an escalating crisis that has engulfed Wall Street, plunged markets into chaos, and threatened to push the global economy into deep recession. And at each milestone...
Seeking Alpha (Free subscription) | 02/10/2008
Anthony M. Freed submits: Does anybody really know what a good deal is in this market? Everyone seems to agree JPMorgan (JPM) received the sweetheart deal of the year when they took over ailing Bear Stearns (BSC) in a government-backed over the weekend shotgun wedding in June. When JPMorgan announced in September that JPMorgan had done it again, this time picking up Washington Mutual’s (WM) assets...
