The Federal Reserve and the Treasury Department should have let 10 banks fail, not just Lehman Brothers, for the financial system to clean itself up, legendary investor Jim Rogers told CNBC Monday.
Abolish the Federal Reserve and let AIG go bankrupt for the world economy to emerge cleaner from the financial meltdown, legendary investor Jim Rogers told CNBC a year ago. A year after Lehman Brothers collapsed, here is what Jim Rogers tells CNBC:
Hurricane Ike takes a backseat to the the banking storm: BofA pulls out of Lehman to focus on Merrill Lynch. By late Saturday night, a deal has been drafted to acquire Lehman's bad assets and pave the way for an eventual sale of the firm.
Lehman Brothers, Washington Mutual and AIG all race against time leading to a weekend of work and worry.
Treasury Secretary Timothy Geithner offered a spirited defense of the government's efforts to forestall another Great Depression but cautioned that the recovery would be slow and painful.
Uncertainty over guidance from Lehman Brothers casts a pall over the entire banking sector, including Merrill Lynch, Goldman Sachs — and Lehman itself.
On Sunday, no rest for Wall Street. And the dominos fall. Lehman Brothers files for chapter 11 protection, Merrill Lynch sells itself to Bank of America and AIG prepares for a dramatic decision.
Lehman Brothers moves closer to taking center stage in the crisis, but storm clouds also build over AIG and Washington Mutual.
Taxpayers may not recover all of the bailout money awarded to the auto sector, said Elizabeth Warren, chair of the Congressional Oversight Panel in charge of the Troubled Assets Relief Program [TARP].
The dollar will continue to drift but it doesn't face the risk of a free-fall, while healthcare stocks will rebound once the dispute over healthcare reform is settled, Robert Doll, BlackRock vice-chairman, told CNBC Wednesday.
On Tuesday, Lehman Brothers starts playing defense. Reports say Lehman management is considering moving up the release of its third-quarter earnings, which had been scheduled for next Thursday. Opinion is split on fannie and Freddie — with on builder calling a bottom.
As we approach the anniversary of some of the most cataclysmic failures in our economic history, we appear to be in perhaps no better position to manage the failure of an investment bank, a hedge fund or an insurance company than we were before.
Monday sees a dawn for markets...a false dawn. Investors rejoiced that the U.S. Treasury will take over Fannie Mae and Freddie Mac, seeing a sign that housing troubles are over. Stock markets all over the world rocket upward. But not everyone shares the . Lehman Brothers ends the day down 13 percent. Why?
The U.S. markets may be closed Sunday, but that doesn't stop rumblings and news on the financial front. Lehman Brothers officials are hoping to finalize plans to raise capital and sell off bad debts sometime this coming week. And U.S. Treasury officials expect to buy $5 billion of Fannie Mae and Freddie Mac securities within the next month, as part of the takeover of the mortgage finance giants.
For the troubled financial sector, Saturday brings no rest. The U.S. plans to bring mortgage finance firms Fannie Mae and Freddie Mac under Federal control, according to reports. The move could constitute the biggest financial bailout in American history. And shareholders are facing the prospect of a wipeout.
It's a pretty black Friday. Another bleak unemployment report shows the August joblessness rate shot up to its highest level since summer of 2003. And the glum news seems to rattle every spoke on the financial hub.
As the markets enter the holiday weekend with light trading, Rich Berg, CEO of Performance Trust Capital Partners; Robert Heller, managing director of Chapdelaine Brokerage; and Ray Carbone of Paramount Options discuss how the markets will move in the upcoming week.
The rush to buy gold and the rise in the bond market witnessed this week are not reassuring for investors, as they indicate fears of future troubles in the economy, Dennis Gartman, author of The Gartman Letter, told CNBC Friday.
White knights are hard to nail down as the savvy start hedging their bets and bear season arrives on Wall Street. The Lehman Brothers rumor mill heats up and investors turn a cold shoulder on stocks, as the indices enter bear-market territory.
The US nonfarm payrolls number later on Friday will likely make or break the stock market's timid attempts at a rebound after declines in the first days of this month, but predictions for the volatile figure are as far apart as ever.