Wall Street

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Cuckold's Web Vendetta Wrecks Banker's Career
Cuckold's Web Vendetta Wrecks Banker's Career
ANALYSIS
Aug 5, 2008 10:59 AM CDT

Cuckold's Web Vendetta Wrecks Banker's Career

Bitter online campaign pays off when ex-wife's disgraced lover resigns

(Newser) - The resignation last week of a top Wall Street banker, supposedly to “spend more time with his family,” was actually the result of a successful Internet vendetta by the cuckolded husband of a woman with whom Steve Rattner had had an affair. Rattner tells the New York Times...

Financial Faith Is Crisis' Top Casualty
 Financial Faith Is 
 Crisis' Top Casualty 
ANALYSIS
Aug 4, 2008 2:35 PM CDT

Financial Faith Is Crisis' Top Casualty

One year in, credit crunch has upset all expectations about modern markets

(Newser) - Last summer, central banks injected hundreds of billions of dollars into the financial system, desperate to restore liquidity to battered markets. But by then the credit crunch was on—and after 12 months, it shows no signs of abating. The Financial Times looks at how risky US mortgages set off...

Yoga Helping Traders Bear Market Tumult

High finance may seem incompatible, but practice is booming

(Newser) - The yoga industry is doing big business on the financial market as bankers and traders look for ways to take a step back and rise above the whirlwind, the Wall Street Journal reports. Life in the market “is the antithesis of what yoga is about in terms of inner...

Bush, in Unguarded Moment: 'Wall Street Got Drunk'

President says the 'hangover' will take some time to cure

(Newser) - President Bush has a new analogy about the nation's financial meltdown. "There is no question about it. Wall Street got drunk," the president said at a Houston fundraiser after asking audience members to turn off their video cameras. "That's one reason I asked you to turn off...

Public Silence Greets Wall St. Blunders
Public Silence Greets Wall St. Blunders
OPINION
Jul 19, 2008 3:10 PM CDT

Public Silence Greets Wall St. Blunders

Small savers are suffering, but giving financiers a free ride

(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.

SEC Will Limit Short Sales of Finance Stocks

Agency worried negative bets by traders are hurting the market

(Newser) - The SEC will step in to police naked short-selling of 17 financial firms, as well as Fannie Mae and Freddie Mac, the Wall Street Journal reports. The agency said it plans to impose short-term, emergency rules on Monday that curtail traders betting on the stocks to drop, worried the short...

SEC Aims to Check False Rumors on Wall Street

Feds worried about false info in skittish market, but nailing culprits is tough task

(Newser) - After months of urging from business, the Securities and Exchange Commission announced plans yesterday to clamp down on the rumor mill that can induce Wall Street gyrations with false information. Last week's market turbulence pushed the feds to make the move before this week's trading, the New York Times reports—...

Wall Street's Wealthy Can't Nab Apartments

With 7-figure bonuses in jeopardy, the rich lack buying power

(Newser) - Manhattan’s most rabid real estate buyers are finding that a million-dollar bonus doesn't cut it anymore, the New York Times reports. With markets in turmoil, Wall Street bankers' staggering bonuses are in jeopardy, and apartment sellers are taking note. “They’re looking for people who have stable incomes...

Fannie, Freddie Edge Back From the Brink
Fannie, Freddie Edge Back
From the Brink
ANALYSIS
Jul 12, 2008 7:11 AM CDT

Fannie, Freddie Edge Back From the Brink

Panic eases after turbulent trading, but big test is yet to come

(Newser) - Fears of a collapse of Fannie Mae or Freddie Mac finally eased yesterday after a stomach-churning rollercoaster ride that saw a 50% nosedive for the mortgage giants in early trading, writes the Wall Street Journal. A week of panic, prompted in part by reports that the government was preparing rescue...

Fannie, Freddie Plunge Gives Short Sellers a Field Day

Very quietly, the sharks are making a killing

(Newser) - With the rest of the world wringing its hands over fears of a Fannie Mae or Freddie Mac collapse, one tribe on Wall Street is smiling: the short sellers. Investors have bet against Fannie and Freddie in growing numbers as the two mortgage lenders' positions grew more precarious. But handsome...

As Speculation Swirls, Panic Stalks Freddie, Fannie

As mortgage giants face increased losses, investors uncertain of their futures

(Newser) - What started as a whisper Monday is a roar at week’s end as investors wrestle with the fate of mortgage giants Fannie Mae and Freddie Mac, the Wall Street Journal reports. While neither firm, which together own or back roughly half  the nation’s mortgages, faces imminent collapse, awareness...

A Year On, Credit Crisis Lingers
 A Year On, 
 Credit Crisis
 Lingers 
ANALYSIS
Jul 1, 2008 7:09 AM CDT

A Year On, Credit Crisis Lingers

'Vicious circle' threatens broader economy

(Newser) - Despite assurances from some experts that the credit crisis would be short-lived, the forecast remains bleak after more than a year of frustrations, the New York Times reports. In a “vicious circle,” falling home prices lead to more bad loans, which makes credit harder to get so that...

For Venture Capitalists, Wells Run Dry

None of investors' gambles go public in second quarter

(Newser) - Wall Street has not been kind to venture capitalists in the second quarter. For the first time since 1978, not one company they backed went public, taking away their source of big paydays, the New York Times  reports. Observers cite a number of reasons, including lousy market conditions, a shift...

Battered Citigroup Plans Major Layoffs

Firm will cut 10% of its investment-banking group

(Newser) - After being in the red for two quarters, Citigroup will this week hand out pink slips in its investment-banking division, looking to sack 10% of the group’s 65,000 employees. The move, which would eliminate entire trading desks worldwide, is unusually severe, the Wall Street Journal says. CEO Vikram...

Cramer: Never Seen Wall Street This Bad
 Cramer:
 Never Seen
 Wall Street
 This Bad 
ANALYSIS
Jun 16, 2008 12:02 PM CDT

Cramer: Never Seen Wall Street This Bad

Analyst sees no end in sight for layoffs and write-downs

(Newser) - While he steers clear of the Great Depression, everything else is fair game as reference in James J. Cramer’s apocalyptic appraisal of Wall Street for New York. In Cramer's 25 years, he's seen lots of implosions, but this one is different: With thousands of layoffs at major shops, and...

Lehman Posts $2.8B Loss, Stuns Wall St.

Investors fear that banks, securities firms still in trouble

(Newser) - Lehman Brothers shocked Wall Street today by posting a $2.8 billion quarterly loss, its first in 14 years and far worse than expected, the Wall Street Journal reports. Other downmarket reports added to investor anxiety, sent stocks falling, and boosted fears that banks and securities firms remain troubled. As...

US Economy Isn't Bouncing Back
 US Economy Isn't
 Bouncing Back 
analysis
Jun 8, 2008 5:11 PM CDT

US Economy Isn't Bouncing Back

Fed cuts, stimulus package won't do the trick

(Newser) - Forget those predictions of a US economic revival in 2008, Daniel Gross writes in Newsweek. The four horsemen of the economy—credit and housing crises, food and energy prices—are getting meaner, while booming commodities and crunching credit are curbing attempts to fight back. "As a result, the consumer-driven...

JPMorgan Leads Hunt to Place Bear Workers

Firm pitches in to help 5K employees laid off after takeover

(Newser) - JP Morgan hopes to find jobs for 5,000 Bear Stearns employees cut when it acquired the brokerage in March, the Financial Times reports. CEO Jamie Dimon is sending letters to rivals and clients, and the company has contacted 1,800 firms urging them to consider former Bear workers. The...

Mood Lightens on Wall St. as Rally Takes Hold

As stocks rise, analysts' outlooks improve

(Newser) - Despite economic gloom spreading along Main Street, things on Wall Street are perking up, the New York Times reports—enough that analysts see a glimmer of hope for a turnaround beginning this year. The stock market rebounded almost 11% in recent weeks, junk bonds and other risky securities are rallying.

J'Accuse, Part Deux
 J'Accuse, Part Deux 
OPINION
Apr 27, 2008 1:08 PM CDT

J'Accuse, Part Deux

Ben Stein's second examination of the financial meltdown

(Newser) - Economist, writer, actor, and lawyer Ben Stein follows up his December excoriation of Goldman Sachs' contribution to the subprime crisis with a look in today's New York Times into how Wall Street executives can get away with reckless behavior at the expense of the public. This time he targets the...

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