A judge denied Credit Suisse's proposal to dismiss a lawsuit accusing the banking giant of fraud in selling mortgage-backed securities. USA Today reports.» Read More
I'll be at the Town Hall Los Angeles meeting today where Bank of America CEO Ken Lewis will be speaking on "Mending Our Mortgage Markets." However, it sounds like between the Fed, Congress, and the Great State of California, the mending is being done without BofA.
In a somewhat solemn moment, Cramer brings up a problem lurking in the market: stocks dropping without a sound. There's plenty of noise about certain companies because someone said this or that, but what of the ones that sink quietly? Lately, there are more of these companies going quietly into the night: banks, brokers, homebuilders -- the trifecta (or "Achilles' heel" per Cramer's label) of the down market. These companies are failing not because of things said, but because of things not said -- none of the right people are saying the right things.
The Dow rose Tuesday in another turbulent session after a pullback in oil prices eased worries about consumer and business spending. What's the "Word on the Street?"
IndyMac Bancorp on Tuesday said depositors were withdrawing cash at an "elevated" pace after a prominent U.S. senator recently questioned the big mortgage lender's ability to survive the U.S. housing crisis.
IndyMac Bancorp shares fell by more than 40 percent on Tuesday, a day after the large California mortgage specialist said it doesn't have enough capital and will stop offering most home loans, and an analyst said shareholders may be wiped out.
David Lutz, managing director at Stifel Nicolaus, offered CNBC advice for investing in financials. See his stock pans and picks!
So where should an investor's dollar go: large-cap stocks, mid-caps, or small-caps? Try all three!
The Dow closed higher Tuesday after GM surprised Wall Street with stronger-than-expected June sales and financial shares reversed earlier losses. What's the "Word on the Street?"
As Countrywide becomes Bank of America, the state of Florida isn't going to let an ownership change stop if from going after damages for what it claims were Countrywide's deceptive lending practices.
Nearly 1.4 billion shares and $18 billion traded yesterday in CNBC's Million Dollar Portfolio Challenge. Check out the bets being made today...
JPMorgan Chase reigned supreme across global debt and equity underwriting for the last quarter.
Florida sued mortgage lender Countrywide Financial Monday for predatory lending practices, alleging the company at the center of the U.S. mortgage crisis made subprime loans to people who could not repay them.
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Stocks ended mixed Monday, capping a dismal quarter and first half marked by rocketing oil prices and battered financials. The Dow is down 14 percent since the beginning of the year and ended the first half about 20 points from bear-market territory.
When a company’s in debt as much as GM and Ford, it’s the creditors that hold sway – not the shareholders.
We are ending the quarter the way we lived most of it, with energy stronger and financials weaker. However, this is one of the strangest quarters in my nearly 12 years at the NYSE.
Jon Hilsenrath, money and investing news editor at The Wall Street Journal, offered CNBC his "4 for 4": the four stocks he says investors must watch on this shortened business week.
For the week ending Friday, June 27, 2008, the U.S Markets tumbled on low consumer confidence levels, battered financial stocks, interest rates concerns, and new record prices for crude oil.
The stock market ends the week negative by more than 3%, for the worst weekly performance since 2/9/2008 for the Dow and NASDAQ, and the worst weekly performance for the S&P since 6/21/2008. Intraday the Dow falls 20% from its market high of 14,164.53 set on October 9th, pushing the market into bear market territory, with the S&P 500 and NASDAQ also close to a 20% loss from their peak levels.
Beleaguered Swiss bank UBS is considering the sale of Paine Webber, the heart of its U.S. wealth management business, according to sources with direct knowledge of the matter.