Their times and personalities are vastly different, but J. Pierpont Morgan’s role in the Panic of 1907 has its echo in Warren E. Buffett’s actions during the current financial troubles, says the New York Times.
Officials at the Federal Reserve plan to meet with top executives from two commodities exchanges in an effort to create a new marketplace for credit default swaps, one of the most important, controversial and opaque securities traded on the Wall Street, CNBC has learned.
The bailout bill that President Bush quickly signed into law on Friday must do what financial experts have been unable to do for the last year — put a dollar value on mortgage-related assets that no one wants, reports The New York Times.
The New York Times reports how Fannie Mae, under pressure from Wall Street firms, Congress and company shareholders, took risks that pushed the company, and, in turn, the nation’s financial health, to the brink.
In a live telephone interview today (Friday) on CNBC, Warren Buffett reacted to the House of Representative's approval of a financial rescue package. He also revealed the two domestic stocks that he personally owns, as opposed to the many stocks owned by his holding company, Berkshire Hathaway. This is a complete transcript of that conversation.
Although it may seem like nothing's working right now the fast money is just waiting in the wings. Here's how to catch a ride.
For the week ending Friday, October 3, 2008, the major U.S. Indices declined steeply on continued uncertainties over the financial bailout / rescue plan, concerns in the credit markets and more economic deterioration.
Stocks declined Wednesday as disappointing economic data added to the weight on investors shoulders over the strained credit market and haggling on Capitol Hill.
In a live interview minutes after the House of Representatives passed the bailout bill, Warren Buffett told CNBC's Becky Quick that the measure is not a "panacea." While the rescue package will provide some tools to deal with the financial crisis and prevent what could have been a far worse situation, Buffett predicted that it will be quite a while before the economic recession bottoms out.
While regulators were sprinting to save the financial system last month, someone was making a lot of money — by betting against the State of New Jersey, the New York Times reported.
“We have a good deal of comfort about the capital cushions at these firms at the moment.” — Christopher Cox, chairman of the Securities and Exchange Commission, March 11, 2008.
Fast Money's Karen Finerman caught up with Warren Buffett on Thursday. You might be surprised to hear what she found out!
Two weeks after Lehman spiraled into bankruptcy, hedge funds that did business with the Wall Street bank are still fighting to get their money out of the firm. For some, it has become a life-or-death struggle, the New York Ties reports.
“Panic can cause a prudent person to do rational things that can contribute to the failure of an institution.” — William A. Ackman of the hedge fund Pershing Square Capital Management.
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Congressional leaders "sweeten" the $700 billion financial rescue package to attract enough House members, particularly Republicans, to pass the plan that failed in the House just two days ago. In the meantime, billionaire investor Warren Buffett takes opportunity of the rocky markets to invest $3 Billion in GE, the parent company of CNBC. Following are today's top videos:
You can’t say Warren Buffett doesn’t have “imagination at work.” The billionaire investor is putting his money behind one of the largest companies on the planet.
Don't believe the pundits. All hope is not lost. Here are the Mad Money host's strategies for surviving this difficult market.
Stocks ended lower Wednesday amid concerns about strained credit markets and the economic slowdown. Banks rallied as investors were encouraged by progress on bailout talks on Capitol Hill. GE got a vote of confidence -- to the tune of $3 billion -- from Warren Buffett.
If some other recent offerings are any indication, this might be the time to buy.