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Now, with a deal on the financial bailout expected soon, let's get back to the real economy—and the recession already in progress.
Irrespective of the bailout’s provisions, given the slow deal market, bankers throughout the industry will certainly receive much lighter bonuses this year versus last. And with the market expected to remain dry through 2009, bonuses next year won’t look much better.
The number of workers filing new claims for jobless benefits jumped 32,000 last week,while new orders for durable goods dropped by a sharper-than-expected 4.5 percent in August.
You've been promoted above your peers—and ex-drinking buddies. How do you deal with the inevitable resistance and get them to fall in line behind you?
The Treasury’s bailout plan for Wall Street will also benefit Main Street, Bill Gross, founder and chief investment officer of investment management firm Pimco, told CNBC Wednesday.
Everyone and their mother’s favorite industry observer are calling Morgan Stanley and Goldman Sachs’ status switch to holding companies the end of the large independent investment bank as we know it.
In the debate over homeowner aid in the Wall Street bailout, both sides appear to have forgotten that Congress approved a $300 billion mortgage rescue in July.
We have not seen the complete fallout from the market crisis yet. There will, no doubt, be more bank failures, consolidations and layoffs. This is a time to reflect, take inventory and prepare for the unknown.
“The Wall Street mess will now have collateral damage to the real economy,” says Steve Hanke, a former White House economist. “We're coming into this thing in a terrible situation.”
Much has been made in this Presidential campaign – and much more will be made – about the value of experience and who is qualified to lead. Often, relative youth is cited as a negative.
The fallout from the financial crisis plaguing Wall Street has become as nail-biting as a "Survivor" tribal council, and no one has experienced more drama than the staff of Lehman Brothers.
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Earlier this week, in a CNBC exclusive interview, Wilbur Ross, CEO of WL Ross & Co. noted that in the current tumultuous financial environment, private equity firms and buyout specialists may reap a rather depressing benefit--the ability to scoop up distressed banks at rock-bottom prices.
While it's soon to say how workers will fare at Lehman Brothers and Merrill Lynch, corporate layoffs are likely to top a million for the first time in years. Given the long arm of the credit crunch and the slowing economy, few of us seem protected from layoffs, you might want to prepare for the worse. Here's some tips.
British bank Barclays said it could acquire some of Lehman Brothers' businesses while economists discuss the future of the financial sector. Following are today's top videos:
The Federal Reserve, meeting during an unprecendented crisis on Wall Street, decided to leave interest rates unchanged but expressed concern about the crisis escalating.
Given the considerable crossover between the banks—especially in investment banking groups such as fixed income, equities and leveraged finance—and the $7 billion in cost savings that BofA has already identified, there will certainly be several thousand job cuts announced at both firms in the next few months.
The Federal Reserve left rates unchanged on Tuesday, giving little relief for Wall Street one day after the Dow's 500 drop. What follows are video highlights of the experts' reactions.
Financial markets are widely expecting the Federal Reserve to cut interest rates today, but they may not get their wish.
Financial markets are widely expecting the Federal Reserve to cut interest rates today, but they may not get their wish. Take our Poll: