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  • For the historic week ending Friday, September 19, 2008,  the major U.S. Indices managed to close mixed and almost flat after one of the most volatile trading weeks ever, driven by the collapse of investment bank, Lehman Brothers, enormous government actions around the globe, and billion dollar deal making.  In one week, the government bailed out AIG, pumped funds into money markets, and banned short selling of financials - all while keeping the Fed Funds target unchanged and taking unprecedented actions to halt the liquidity crisis.  The CBOE Volatility Index (VIX) surpassed the benchmark level of 30, hitting an intraday high of 42.16 on Thursday, its highest level since 10/2002.    The major indices were all up and down +/- 3% for 4 of the past 5 days.  The Dow posted a 2 day point move of more than 778 points as of Friday’s close, after plummeting 811 between Monday and Wednesday and hitting 10,609.66, its lowest level since 11/9/2005.  On Friday, The Nasdaq Composite recorded a 2-day point move of greater than 175 points after it closed down 109.05 points on Wednesday, its first triple digit decline for one day since it began trading after the 9/11 attacks.  The S&P 500 flirted with record territory closing up 98.7 over the last two days, marking its biggest 2-day point move since 3/16/2000, the largest 2-day point move ever.

  • Big Rally Leaves Dow Off Just 40 for Week Friday, 19 Sep 2008 | 5:17 PM ET

    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!

  • We saw the mother of all short coverings at the open, fueled by the government's proposed RTC-type bailout, the ban on short selling in financials, and a quadruple witching expiration.

  • Morgan Stanley: US Plan Is A 'Game-Changer' Friday, 19 Sep 2008 | 3:32 PM ET
    WALL STREET IN CRISIS - A CNBC SPECIAL REPORT

    Officials of Morgan Stanley are quoted as saying Treasury Secretary Hank Paulson's plan to tackle the financial crisis gripping the country is a potential "game-changer."

  • Why Bankers Group Hates Money Market Insurance Plan Friday, 19 Sep 2008 | 3:18 PM ET

    The American Bankers Assocation has objected to the plan to guarantee money market funds on the grounds that it will REDUCE deposits in the nation's banks. Huh? I just got off the phone with them, here's their reasoning...

  • Dow Soars as Financials Jump Over 20% Friday, 19 Sep 2008 | 2:48 PM ET

    This week's wild ride on Wall Street is starting to look like just that — a ride — because the Dow is on track to end roughly where it was last Friday.

  • Poll: Can Congress Pull It Off? Friday, 19 Sep 2008 | 1:54 PM ET

    The U.S.  launched several multibillion-dollar programs to rescue financial markets while developing a more sweeping plan to mop up toxic mortgage debt

  • Dow Is Up 300 Points as Financials Soar Friday, 19 Sep 2008 | 11:50 AM ET

    Stocks shot out of the gate like a rocket Friday after the Federal Reserve, Treasury and SEC jumped in to triage the meltdown in the banking system with measures including a ban on short selling in financials.  The Dow jumped more than 300 points higher at the open.  Brokerages and banks roared higher, with Goldman Sachs, Merrill Lynch, Morgan Stanley, Wachovia and Washington Mutual all up more than 30 percent.

  • US Launches Broad Rescue Of Financial Markets Friday, 19 Sep 2008 | 10:38 AM ET
    NYSE Traders

    The U.S.  launched several multibillion-dollar programs to rescue financial markets while developing a more sweeping plan to mop up toxic mortgage debt

  • Securities & Exchange Commission Issues Short-Ban List Friday, 19 Sep 2008 | 10:02 AM ET

    The Securities and Exchange Commission temporarily banned short-selling on 799 financial stocks to boost investor confidence on Friday, one day after the UK Financial Services Authority took a similar step.

  • Dow Jumps 400 Points as Financials Soar Friday, 19 Sep 2008 | 10:00 AM ET

    Stocks shot out of the gate like a rocket Friday after the Federal Reserve, Treasury and SEC jumped in to triage the meltdown in the banking system with measures including a ban on short selling in financials.  The Dow jumped more than 300 points higher at the open.  Brokerages and banks roared higher, with Goldman Sachs, Merrill Lynch, Morgan Stanley, Wachovia and Washington Mutual all up more than 30 percent.

  • Futures Soar as Government Steps In Friday, 19 Sep 2008 | 9:25 AM ET

    Wall Street was poised for a big Friday at the end of a rollercoaster week after the Federal Reserve, Treasury and SEC jumped in to triage the meltdown in the banking system with measures including a ban on short selling in financials.

  • It's Going To Be One Wild Open Friday, 19 Sep 2008 | 9:09 AM ET

    Remember, it's a quadruple witching expiration (expiration of stock and stock index options, and stock and stock index futures). The S&P 500 options stopped trading at the CLOSE last night, however the settle price is at the OPEN this morning.

  • Never Sell America Short Friday, 19 Sep 2008 | 9:01 AM ET

    We can fix this. If nothing else, that’s the message I hope readers take away from this column. Of course, the “this” is the run on the world banking system. Stock markets have plunged globally, gold prices have shot up, and U.S. Treasury-bill rates have plummeted to 10 basis points, the lowest since the 1950s.

  • Q&A: How to Protect and Grow Your Money Thursday, 18 Sep 2008 | 9:54 PM ET

    What’s risky? What’s not? Carmen clears up the confusion so you can make the right decisions.

  • Bad Debt Plan May Cost Up to Half a Trillion Dollars Thursday, 18 Sep 2008 | 8:53 PM ET
    Henry Paulson

    The plan to create a massive facility to buy mortgage-backed securities could cost as much as a half-trillion-dollars and would involve the purchase of both private-label and government-guaranteed mortgages.

  • Stocks Rally on Debt Plan, But Is It a Turning Point? Thursday, 18 Sep 2008 | 7:06 PM ET

    A proposal to help financial institutions shed their bad debts sparked a big rally on Wall Street, but it was unclear whether the move was a turning point in the credit crisis.

  • Show Us Your Shorts! Thursday, 18 Sep 2008 | 6:51 PM ET

    Should hedge funds be required to report their short positions, daily?

  • Friday Look Ahead: What a Difference a Day Makes Thursday, 18 Sep 2008 | 6:48 PM ET

    Where there was dread, there's now a ray of hope: At least that's how some traders were talking at the end of the day Thursday, after the stock market rocketed 300 points in the final hour, the mirror opposite of Wednesday's frightening performance. Going into Friday, traders say there may be some positive follow-through, based on the course of news from Washington overnight.

  • Nesto: The Real B.S. Crippling Wall Street Thursday, 18 Sep 2008 | 4:46 PM ET

    (That's Balance Sheet, of course.) As Morgan Stanley, Genworth, State Street, WaMu and others are feeling the squeeze, I feel the need to dispel some myths that are crippling Wall St. and arguably the world.

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