The Telegraph (Free subscription) | 10/10/2008
A fresh wave of fear hit banks yesterday as traders tried to settle hundreds of billions of pounds of complex products in a move that could leave some with heavy losses.
Times Online (Free subscription) | 10/10/2008
Lehman Brothers, the bust investment bank, triggered one of the biggest corporate debt defaults in history yesterday as it emerged that the US Federal Reserve is harbouring grave concerns about whether Washington’s $700 billion ($£413 billion) bailout fund will avert a financial meltdown.
Grasping Reality with Both Hands (Free subscription) | yesterday
Their conclusion now seems completely wrong: > Diamond and Kashyap on the Recent Financial Upheavals: Why did the Treasury and Fed let Lehman fail...? > In March, Bear Stearns lost its access to credit in almost the same fashion as Lehman; yet Bear was rescued and Lehman was not. Bear Stearns was bailed out... [because] the Fed had very imperfect information about what was going on at Bear... [and]...
Gallery of the Absurd (Free subscription) | 10/10/2008
With his icy death glare, Richard Fuld, CEO of the bankrupt Lehman Brothers could easily fill the role of Count Orlock, the fearsome blood thirsty vampire in Nosferatu. Recently vilified as a "Culprit of the Collapse" on Anderson Cooper's 360,...
Wall $treet Folly (Free subscription) | 10/10/2008
Earlier in the day, the preliminary estimate for the bonds was 9.75, but the final price came in a little lower, at 8.625. That means that sellers of cds will have to pony up 91.375 cents on the dollar, slightly...
PR News Wire (Free subscription) | 10/10/2008
announced today that a class action lawsuit, Case No. 08-cv-08225, has been filed against Citigroup Global Markets, Inc. (NYSE: ) ("Citigroup") and other Defendants on behalf of purchasers of Lehman Brothers (OTC: LEHMQ.PK) Preferred Stock, Series J (OTC: LEHJQ.PK) ("Lehman Preferred Stock J"). Potential class members who purchased Lehman Preferred Stock J from Citigroup should consider whether they...
PR News Wire (Free subscription) | 10/10/2008
announced today that a class action lawsuit, Case No. 08-cv-08225, has been filed against Banc of America Securities, LLC (NYSE: ) ("Banc of America") and other Defendants on behalf of purchasers of Lehman Brothers (OTC: LEHMQ.PK) Preferred Stock, Series J (OTC: LEHJQ.PK) ("Lehman Preferred Stock J"). Potential class members who purchased Lehman Preferred Stock J from Banc of America should consider...
PR News Wire (Free subscription) | 10/10/2008
announced today that a class action lawsuit, Case No. 08-cv-08225, has been filed against Wachovia Capital Markets, LLC (NYSE: ) ("Wachovia") and other Defendants on behalf of purchasers of Lehman Brothers (OTC: LEHMQ.PK) Preferred Stock, Series J (OTC: LEHJQ.PK) ("Lehman Preferred Stock J"). Potential class members who purchased Lehman Preferred Stock J from Wachovia should consider whether they should...
PR News Wire (Free subscription) | 10/10/2008
NEW YORK, Oct. 10 /PRNewswire/ -- The Securities Law Firm of Klayman & Toskes, P.A., announced today that a class action lawsuit, Case No. 08-cv-08225, has been filed against Merrill Lynch (NYSE: MER) and other Defendants on behalf of purchasers of Lehman Brothers (OTC: LEHMQ.PK) Preferred Stock, Series J (OTC: LEHJQ.PK) ("Lehman Preferred Stock J"). Potential class members who purchased Lehman Preferred...
PR News Wire (Free subscription) | 10/10/2008
NEW YORK, Oct. 10 /PRNewswire/ -- The Securities Law Firm of Klayman & Toskes, P.A., , announced today that a class action lawsuit, Case No. 08-cv-08225, has been filed against UBS Securities, LLC (NYSE: ) ("UBS") and other Defendants on behalf of purchasers of Lehman Brothers (OTC: LEHMQ) Preferred Stock, Series J (OTC: LEHJQ) ("Lehman Preferred Stock J"). Potential class members who purchased Lehman...
PR News Wire (Free subscription) | 10/10/2008
NEW YORK, Oct. 10 /PRNewswire/ -- The Securities Law Firm of Klayman & Toskes, P.A., , announced today that a class action lawsuit, Case No. 08-cv-08225, has been filed against Morgan Stanley (NYSE: MS) and other Defendants on behalf of purchasers of Lehman Brothers (OTC: LEHMQ.PK) Preferred Stock, Series J (OTC: LEHJQ.PK) ("Lehman Preferred Stock J"). Potential class members who purchased Lehman Preferred...
DealBreaker (Free subscription) | 10/10/2008
CNBC has some preliminary news, prior to the official word at 2pm. The Good News: of the insurance you bought, you'll get nearly a dime on the dollar, or 9.75 percent. So, every cloud... Guessing you can calculate the bad news (91.25%).
24/7 Wall St. (Free subscription) | 3 hours ago
According to The Times of London, THE Lehman Brothers board signed off on more than $100m (£59m) in payouts to five top executives just three days before the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Miscellania (Free subscription) | 10 hours ago
12 Oct 2008, 0116 hrs IST, Swaminathan S Anklesaria Aiyar Big financial institutions of all sorts are in dire straits across the globe. But one category remains unaffected - micro-finance. Even as the global financial system freezes and giants like Lehman Brothers collapse, micro-finance institutions (MFIs) are expanding unfazed. Famous financiers face defaults big enough to wipe them out, but MFIs...
www.OSIR.org.in (Free subscription) | 7 hours ago
Shortly after Lehman Brothers collapsed in mid-September, the EGC Group, a Melville-based advertising agency, donated 24 hours to developing ad campaigns for five of Long Island ’s largest nonprofit organizations worried that with the economy in Source: www.newsday.com Mars lander finds minerals suggesting past water - Associated PressLOS ANGELES (AP) — NASA’s Phoenix spacecraft [...]
