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The Financial Crisis: This Day—One Year Ago, Sept. 6
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For players in New York and officials in Washington, Saturday brings no rest. There would be more such weekends to come.
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Shares of Fannie [FNM
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] and Freddie [FRE
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] — which had rebounded since Aug. 21 on investor belief that such government moves might be averted — had plunged in after-hours trading in New York on Friday.
Fannie and Freddie together have now lost $14 billion in losses in the past four quarters, as the US housing boom deflates.
What You Were Reading:
- Fannie, Freddie Shareholders Face Wipeout
- Japan's Nomura Mulls Investing in Lehman: Report
- Nevada Bank Becomes 11th Failed Bank in 2008
"People have priced in an equity infusion that would wipe out shareholders," says Chuck Gabriel, managing director at Capital Alpha Partners. "On the other hand, they have come to understand you wouldn't have such an event without the GSEs agreeing to it."
Elsewhere in the crisis landscape, Japan's Nomura Holdings is considering acquiring a stake in Lehman Brothers [LEHMQ
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], the Japanese daily Yomiuri Shimbun reports on Saturday.
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Watanabe says Lehman was one of several candidates and that Nomura would decide whether to make an investment offer after confirming Lehman's business results, which could come as early as next week, and after checking share price moves.
State-controlled Korea Development Bank remains in the running as a possible bidder for Lehman.
- The Nasdaq has suffered the most from the EU crisis showing there's risk in the usual tech stocks.
- Targeting more Millennials is just one of the items brewing for consumers in the world of spirits.
- It seems many people may need a reminder of how NOT to act on a plane. Here are a few tips.
- Here are some very unusual roadside stops along American highways that might peek your interest.
- How three generations of Americans are dealing with the finances of retirement.
Data is a real-time snapshot *Data is delayed at least 15 minutes
