So, the folks who made all those bad loans are supposedly now keeping watch over the appraisal business, making sure independent appraisers are not inflating or deflating values due to pressure from lenders???
Stocks pared some of their earlier gains but were still up sharply on renewed confidence about the financial sector.
As of midday Tuesday, all major indices are up 4 percent or greater. If the rally holds, the S&P 500, Dow, and NASDAQ Composite would be poised for their biggest percent increase since late November of last year.
Financial stocks are rallying Tuesday. Is the market bottom starting? Frederic Dickson at D.A. Davidson & Co. and Jack Ablin at Harris Private Bank offered their insights to investors.
New York Attorney General Andrew Cuomo is looking into whether former Merrill Lynch Chief Executive John Thain intentionally moved up the timing of bonuses prior to the disclosure of losses at the firm, people familiar with the investigation told CNBC.
US stock index futures pointed to a higher open for Wall Street after Monday's selloff and with some good news emerging from the banking sector.
Why the focus has been on Mad Money and not the possibility for another Great Depression is beyond us.
History is no guide for investors right now, Cramer says.
Warren Buffett's bullish comments on banks, especially Wells Fargo and U.S. Bancorp, during this morning' Squawk Box on CNBC helped boost the financial stocks in Berkshire Hathaway's portfolio.
Monday: Warren Buffett told CNBC the U.S. economy has "fallen off a cliff." Prof. Nouriel Roubini, who predicted the current crisis, said the U.S. recession could last up to 36 months. But some M&A activity was seen: Dow Chemical and Rohm & Haas announced a deal; and Roche and Genentech are reportedly close to their own agreement. CNBC heard from experts who said steady growth companies are the way to invest now; and that the government rescue plan is going to create the first signs of recovery.
Stocks retreated in a yo-yo session as an earlier advance in the shares of energy and big-cap technology companies dissipated. But banks held gains as investors hoped for more clarity on the government plan to firm up the financial system, with Fed Chairman Ben Beranke meeting with President Obama today.
Bank of America is starting to withdraw offers to some MBA students that graduate from US business schools this year, the Financial Times reported Monday.
Every generation searches for an identity. There were the Baby Boomers, followed by slacker Gens. X and Y. It took a 50% drop in the Dow and more than 3 million jobs lost to figure it out. This is nothing to LOL about: It's Generation OMG!
Lately, I have been receiving numerous emails relaying credit card horror stories, in response to my frequent blogs on the subject. But the one I got on Friday takes the cake, says Patricia Chadwick.
For the first time since 1995, shares of Dow component American Express traded below $10 on Friday. It became the sixth current Dow component to trade with a single-digit price tag, joining General Electric, Alcoa, Bank of America, General Motors, and Citigroup.
Stock index futures pointed to a lower open for Wall Street, but were off the day's lows as Dow component Merck announced it will merge with Schering-Plough in a cash and stock deal.
At least two dozen US and European banks benefited from the rescue of AIG, with about $50 billion paid out to them since the Fed first gave aid to the insurance giant, the Wall Street Journal reported.
Somehow the powers that be have forgotten the lessons we learned from the Great Depression.
A rally in the last hour of trading lifted the Dow into positive territory on Friday, as surging oil prices drove energy stocks...
Stocks staged a late-day rally Friday, pushing the Dow to a positive close, after a report that a major UK bank has reached an asset-protection deal with the government.