A pair of big bond insurers with more than $10 billion of exposure to Puerto Rican debt have hired restructuring advisers.» Read More
Stocks went into another free-fall, suffering their biggest decline so far this year, as worries about the economy and subprime crisis overshadowed efforts by Washington to prevent a possible recession.
Shares of Ambac Financial Group dropped as much as 65 percent on Thursday, reaching an all-time low, after Moody's Investors Service said it may cut the bond insurer's debt ratings, potentially hampering the insurer's ability to win new business and secure capital.
The big story this morning is in bond insurers. Bond insurers weak (again) today as Moody's placed Ambac under review for a possible ratings cut. What happened? Last month Moody's affirmed the rating with a Stable outlookaffirmed the rating with a Stable outlook.
With the Intel disappointment, S&P futures are trading below August lows and we are now certain to see the S&P 500 -- but not the Dow -- trade at 52-week lows.
In a special Sell Block, Cramer revisits the worst performers of the subprime mortgage crisis. His new takes may surprise you.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
The beleaguered group looks to Cramer like it could be turning. Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
The country's top insurance regulator tells Cramer his plan to get the business back on track - and why he reached out to Berkshire Hathaway.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
There's little chance Fed Chairman Ben Bernanke will say much to soothe the markets when he speaks on the economy Thursday afternoon. But regardless, his comments at 1 p.m. are likely to be among the most important headlines of the day and could be a big driver for markets.
Warren Buffett's brand-new municipal bond insurer, Berkshire Hathaway Assurance Corporation, has sold its first coverage, backing a $10 million bond issued by New York City yesterday. Ajit Jain, who runs Berkshire's insurance businesses, tells the New York Times, "We're tip-toeing into the market, doing very small deals. We want to see if we can get the pricing that we find acceptable to us. Once we find this is real, we'll put in a lot more capital." He also describes how a call from a New York regulator played a key role.
The man who oversees the insurance operations for Warren Buffett's Berkshire Hathaway tells CNBC that Berkshire is talking with troubled bond insurers like MBIA and Ambac about a possible partnership or purchase, although it doesn't sound like anything major is imminent. Ajit Jain's comment came in response to a question from Erin Burnett in a live interview on CNBC's Street Signs about why Berkshire chose to "build" its own bond insurer rather than buy an existing company like Ambac or MBIA.
Stocks closed sharply higher after a late-session rally as investors piled into sectors seen as resistant to economic contraction, such as health care and staples, amid talk of recession.
MBIA, the world's largest bond insurer, on Wednesday slashed its common stock dividend 62 percent as part of a plan to strengthen capital and preserve the ``triple-A'' credit ratings it depends on to operate normally.
Stocks skidded back into correction territory as investors worried that the tumbling economy may not only cripple mortgage lenders like Countrywide Financial but create problems for other companies like AT&T.
Financial stocks have taken a beating -- but have they reached bottom? Jon Hilsenrath, money and investing news editor at The Wall Street Journal and a CNBC contributor, pointed to five bank stocks that savvy investors need to watch closely this year.
Understanding the performance of the stock market in 2007 comes down to one word: subprime.
Warren Buffett is finally moving to make some money from the nation's credit crisis by starting a new company that will insure debt issued by state and local governments. To make sure that he does indeed make money from the venture, he's promising not to make the same mistakes that have caused so many problems for long-time insurers like Ambac and MBIA: charging too little and taking on too much risk.
The markets closed the week mostly flat on rising oil, global tensions and dismal housing numbers. Find out where the traders think you can make money next week.
Stocks finished little-changed after another up-and-down session.
Warren Buffett's Berkshire Hathaway is starting a bond insurer that would help state and local governments lower their borrowing costs, posing a direct challenge to established rivals struggling with deteriorating credit markets.
Time to sort through the Fast Money in-box and answer more of your questions. Gary writes, “What do you think the 6 month to 1 year outlook is for Circuit City (CC). I’m looking for a trade with CC but I’m not a real long-term fan of the company.