Bank of America's move to combine the role of CEO and board chair makes a mockery of efforts to improve bank oversight, Mike Mayo said.» Read More
This week's wild ride on Wall Street literally mimicked a rollercoaster ride: a couple of stomach-turning drops before coasting to the end and dropping you off exactly where you started. After being down by nearly 1000 points at Wednesday's close, the Dow clawed back those 1000 points in the following two days leaving the blue-chip index off just about 40 points from where it ended last Friday!
If you are one of the many investors having trouble stomaching the big and wild swings, now may be a good time to scale back on your level of risk.
As details of the government's belated "Federal Toxic Landfill Act" emerge -- that is, the rescue plan put forth by Treasury Secretary Hank Paulson -- many thoughts come to mind but none more often than how ticked-off the troops at the Thundering Herd must be...
Investment banks are out, and a new breed of bank is in.
While the debate is on whether stocks are at a bottom, there might be a silver lining to the current financial crisis. Wednesday marked the 12th time the Dow & S&P have both been down by more than 7% over the same 3-day period. Whenever that's happened in the past, it's usually been followed by major increases--even a month later.
Don't let volatility scare you out of this market. There are opportunities to be had.
Turmoil in the financial markets has the fingers of blame pointing every which way. In a first on CNBC interview Dylan Ratigan takes aim squarely at S&P.
But late news of possible deals involving Morgan Stanley and Washington Mutual might help ease market jitters on Thursday.
Cramer's been waiting for this federal regulator to stop the abusive short selling that's hurt so many stocks. At last, Chairman Christopher Cox has stepped up.
Significant losses that Lehman Brothers suffered from its part of the acquisition of a national apartment portfolio helped to bring down the investment bank, reports the NY Times.
What banks are worth buying?
Former Allstate CEO Edward Liddy will be the new CEO of AIG, which was rescued by an $85 billion loan from the Fed, in exchange for an 79.9% stake in itself.
The unprecedented government rescue of insurance giant AIG calms the market's angst, but the question is whether credit markets will cooperate with the Fed and what other shoes are there left to drop.
American International Group will avoid bankruptcy with the help of an $85 billion bridge loan from the federal government, in exchange for an 80 percent stake in itself, sources told CNBC.
Plus, debating Merrill Lynch CEO John Thain's potential severance package.
Cramer makes the call on viewers' favorite stocks.
The Bond kings react to the Fed leaving the interest rate unchanged at 2 percent, while Morgan Stanley reports strong earnings numbers. Following are today's top videos:
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.
Stocks rallied at the close after the Federal Reserve held the line on interest rates and investors were encouraged that Lehman Brothers and American International Group might work out deals to improve their perilous financial situation.
Bank of America added another slice to its growing financial services empire, buying Merrill Lynch in a $50 billion deal that would create a bank offering everything from fixed-income trading to credit card lending