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Did you know that Jim Cramer once worked at perhaps the most prestigious brokerage on Wall Street?
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Imagine being a summer intern at a company that was getting slammed by huge losses, laying off hundreds of workers and even subject to rumors about its survival.
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Deutsche Bank analyst Mike Mayo said that Citigroup may post third-quarter write-downs of about $8 billion from its exposure to collateralized debt obligations (CDOs), a day after Merrill Lynch agreed to sell its CDOs for just 22 cents on the dollar.
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Vivi Nevo is said to be the largest individual shareholder of Time Warner, was once the largest private investor in Goldman Sachs, is engaged to China’s most famous actress, vacations on Rupert Murdoch’s sailboat, is the godfather of Lachlan Murdoch’s son, counts Lenny Kravitz as a good friend and attended Madonna’s wedding in 2000.And many people, including even some of his close friends, have no idea what his background is or how exactly he made his fortune.
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The housing report was not so far off the expected and was not nearly as bad as it was treated. We declined because we are in a bear market.
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The Dow fought its way higher on Wednesday as oil prices fell and positive sentiment swelled on hopes that lawmakers will soon approve a rescue plan for Fannie and Freddie.
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As of this morning, 93 (just under 20%) of the S&P 500 companies have reported earnings. Here's a look at which companies have had the biggest surprises so far...
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Our traders are good - but you knew that! Check out their latest picks that paid.
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Samuel Israel III bilked his investors out of $250 million, but they are hoping to recoup some of their money from one of Wall Street’s deepest pockets: Goldman Sachs.
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To give investors an edge on a day when the Dow seems to be maintaining its footing, CNBC asked the experts for their best trades now.
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Failed bank IndyMac Bancorp is under investigation by the FBI for possible fraud involving its mortgage lending, unnamed law enforcement officials said on Wednesday.
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The SEC issued its emergency ruling against naked short-selling Tuesday to build investor confidence regarding market information, SEC Chairman Christopher Cox told CNBC.
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Stocks closed with huge gains as drop in oil prices boosted sectors previously battered by energy costs. Financials also moved sharply higher.
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Stocks pushed higher as oil plunged for the second day in a row and financials staged an across-the-board rally that stemmed investor pessimism about the effects of inflation on the economy.
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U.S. securities regulators subpoenaed firms including Deutsche Bank, Goldman Sachs, and Merrill Lynch as it probes suspected manipulation of Lehman Brothers and Bear Stearns shares, Bloomberg said, citing two people familiar with the matter.
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Goldman Sachs has been questioned by chiefs of rivals Bear Stearns and Lehman Brothers about speculation that the securities firm had a role in putting pressure on their firms' stocks, the Wall Street Journal said on Wednesday citing people familiar with their talk.
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U.S. securities regulators issued an emergency rule Tuesday to limit certain types of short selling in major financial firms, including Fannie Mae and Freddie Mac.
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The Dow closed below 11,000 for the first time in two years on Tuesday. What's the "Word on the Street?"
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America lost an important civil servant -- a hero of the masses -- when Bob Steele gave up his post of Treasury Undersecretary to take over the reins of the troubled Wachovia Bank spacer. Cramer worked with him at Goldman Sachs spacer and praises him simply a "brilliant man," not a compliment Cramer gives often -- with the exception of certain dead classical composers. Steele is a "visionary and a hard worker," someone who "gets" that the banking system is in dire straits.
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Viewers ask Cramer the essential question: Am I diversified?
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Wachovia Corp, the fourth-largest U.S. bank, named Treasury Undersecretary Robert Steel chief executive on Wednesday, and said mortgage and legal problems will result in a $2.6 billion to $2.8 billion second- quarter loss, much larger than many analysts expected.