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If the FDIC's Sheila Bair "stands behind" its previously announced deal between Wachovia and Citigroup, why did she apparently work behind the scenes to get Wells Fargo involved, asks Portfolio.com?
Cramer lays out how he'd use both the FDIC and the TARP facility to get us out of this market mess.
Wachovia shares are down Monday on "crisis psychology" -- but hedge fund master Bill Ackman of Pershing Square is optimistic. He scooped up a 7 percent stake in Wachovia on the news that Citigroup would buy the troubled financial's banking business. And Wells Fargo's counterbid makes it all even better.
The Dow pared its massive loss in the final hour of trading Monday after fear that the credit crisis is spreading rippled through world markets. The blue-chip index ended down about 370 points, after being down as much as 800 at one point.
The Dow dropped below 9,600 Monday after global markets took a pounding amid fear that the credit crisis is spreading around the globe.
The Dow dropped below 9,900 Monday after global markets took a pounding amid fear that the credit crisis is spreading around the globe.
The Dow dropped below 10000 Monday after global markets took a pounding amid fear that the credit crisis is spreading around the globe.
Wall Street was set to plunge at the open Monday as a $700 billion plan approved by Congress on Friday failed to restore confidence in the global banking system.
European nations scrambled on Sunday night to prevent a growing credit crisis from bringing down major banks and alarming savers as troubles in financial markets spread around the world, accelerating economic downturns on three continents, the New York Times reported.
During the crisis, so-called smart money seems to be avoiding three categories: index funds, dividend-paying companies and small-caps. On paper, that seems to make perfect sense. In fact, some of these ideas haven’t panned out, says the New York Times.
The Wachovia boss may have proved his worth this week, but his peers are still worthy of skepticism.
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.
Turns out Wachovia's CEO was more hero than villian. It's just that Cramer didn't know until the Wells Fargo deal was announced.
The stumbling economy and the specter of a rough earnings season will pressure stocks in the week ahead.
Getting dumped stinks. You think you’ve found a wonderful partner only to realize those feelings aren’t returned. Poor Citigroup! Find out what Dick Bove has to say about the mess.
Wall Street ended its worst week in seven years with another tumble on Friday...
Wall Street capped its worst week in seven years with a late day selloff as traders briefly celebrated the House's approval of the Wall Street bailout, then yanked their positions ahead of the weekend.
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.
What happened to our rally? Stocks rallied going into the vote. The rescue bill passed a little after 1 pm ET, floor traders broke into applause and then spent the next half hour processing sell orders.
Stocks hovered around the flat line Friday afternoon after the House approved the revised $700 bailout bill for Wall Street. Apple shares recovered as did shares of Hartford and other insurers.