Fannie Mae Will Sign New Renter Leases
December 15, 2008 by Joseph McCafferty
In a show of support for home renters facing eviction because of landlord defaults, government-sponsored loan giant Fannie Mae said yesterday that it would begin the process of formulating new leases with renters living in foreclosed properties.
December 15, 2008 by Joseph McCafferty
In a show of support for home renters facing eviction because of landlord defaults, government-sponsored loan giant Fannie Mae said yesterday that it would begin the process of formulating new leases with renters living in foreclosed properties.
Government Watchdogs Slam Bailout
December 11, 2008 by Joseph McCafferty
A pair of government watchdog organizations aired their grievances over the United States Treasury’s handling of the bailout at testimonies before Congress yesterday.
December 11, 2008 by Joseph McCafferty
A pair of government watchdog organizations aired their grievances over the United States Treasury’s handling of the bailout at testimonies before Congress yesterday.
Ex-Fannie and Freddie CEOs Get Upbraiding
December 10, 2008 by Joseph McCafferty
While Fannie Mae and Freddie Mac haven’t been the talk of Wall Street since September, their exploits haven’t been quite forgotten by the lawmakers cleaning up the pieces at the shattered government-sponsored enterprises.
December 10, 2008 by Joseph McCafferty
While Fannie Mae and Freddie Mac haven’t been the talk of Wall Street since September, their exploits haven’t been quite forgotten by the lawmakers cleaning up the pieces at the shattered government-sponsored enterprises.
Dodd Weighs in on Auto Industry Plight
December 8, 2008 by Joseph McCafferty
As representatives from Detroit’s “Big Three” plead with Washington for a bailout package they hope will revive the declining American automobile industry, some legislators believe that bankruptcy filings are imminent.
December 8, 2008 by Joseph McCafferty
As representatives from Detroit’s “Big Three” plead with Washington for a bailout package they hope will revive the declining American automobile industry, some legislators believe that bankruptcy filings are imminent.
The Outlook: Clear and Present Danger
December 8, 2008 by Peter Morici
Bank bailout efforts by the Treasury, Federal Reserve and their counterparts abroad are failing because they only address symptoms, not the systemic ills that caused credit crisis. While global investors and traders may not articulate their fears in such esoteric terms, failure to address systemic problems are driving down corporate sales and profits and destroying stocks values.
December 8, 2008 by Peter Morici
Bank bailout efforts by the Treasury, Federal Reserve and their counterparts abroad are failing because they only address symptoms, not the systemic ills that caused credit crisis. While global investors and traders may not articulate their fears in such esoteric terms, failure to address systemic problems are driving down corporate sales and profits and destroying stocks values.
Pay Plans for the Downturn
December 1, 2008 by Timothy W. Burns
Economic turmoil and Congress’ financial-services bailout package (with compensation strings attached) have brought executive pay to the forefront, if that was even possible, given the attention executive compensation was already garnering.
December 1, 2008 by Timothy W. Burns
Economic turmoil and Congress’ financial-services bailout package (with compensation strings attached) have brought executive pay to the forefront, if that was even possible, given the attention executive compensation was already garnering.
OCED Predicts Recovery to Begin in July
November 25, 2008 by Joseph McCafferty
The Organization for Economic Cooperation and Development (OECD) believes that as the U.S. economy has most likely slipped into a recession, recovery, albeit slow, will begin mid-2009.
November 25, 2008 by Joseph McCafferty
The Organization for Economic Cooperation and Development (OECD) believes that as the U.S. economy has most likely slipped into a recession, recovery, albeit slow, will begin mid-2009.
Citi’s Board: In Crisis?
November 25, 2008 by Joseph McCafferty
Since CEO Vikram S. Pandit joined Citigroup, the company has struggled to be independent. In a bailout plan with the U.S. government, Citi’s 15-member board of directors agreed to certain restrictions on and review of certain executive compensation. The bank will also put in place the Federal Deposit Insurance Corporation’s loan modification plan, similar to one it recently announced.
November 25, 2008 by Joseph McCafferty
Since CEO Vikram S. Pandit joined Citigroup, the company has struggled to be independent. In a bailout plan with the U.S. government, Citi’s 15-member board of directors agreed to certain restrictions on and review of certain executive compensation. The bank will also put in place the Federal Deposit Insurance Corporation’s loan modification plan, similar to one it recently announced.
Goldman Execs Forfeit Bonuses
November 17, 2008 by Joseph McCafferty
The top seven executives at Goldman Sachs have willfully forfeited their annual bonus payments, in a move that could possibly foreshadow a wider trend across a financial industry struggling to regain its image in the public eye.
November 17, 2008 by Joseph McCafferty
The top seven executives at Goldman Sachs have willfully forfeited their annual bonus payments, in a move that could possibly foreshadow a wider trend across a financial industry struggling to regain its image in the public eye.
In Euro Zone, Recession is Official
November 14, 2008 by Joseph McCafferty
A report released today by the official statistics agency of the European Union confirmed that the Euro Zone suffered its second consecutive drop in GDP over Q3, thus officially placing it in a recession.
November 14, 2008 by Joseph McCafferty
A report released today by the official statistics agency of the European Union confirmed that the Euro Zone suffered its second consecutive drop in GDP over Q3, thus officially placing it in a recession.
Indictments Loom in UBS Case
November 11, 2008 by Joseph McCafferty
A federal inquiry into multiple allegations of tax evasion could lead to indictments for American account holders at UBS, the Swiss banking giant accused of enabling illegal tax dodges.
November 11, 2008 by Joseph McCafferty
A federal inquiry into multiple allegations of tax evasion could lead to indictments for American account holders at UBS, the Swiss banking giant accused of enabling illegal tax dodges.
Hedge Fund Manager Says GM Done
November 11, 2008 by Joseph McCafferty
General Motors, beleaguered by shrinking sales and a devastated share price, should file for bankruptcy rather than beseech the government for a capital infusion, according to one hedge fund manager.
November 11, 2008 by Joseph McCafferty
General Motors, beleaguered by shrinking sales and a devastated share price, should file for bankruptcy rather than beseech the government for a capital infusion, according to one hedge fund manager.
Firms Reluctant to Participate in Buyback
November 7, 2008 by Joseph McCafferty
Financial firms eligible for the federal government’s Troubled Asset Relief Program (TARP) are largely unsure of the plan’s implementation and may therefore decline assistance, according to an industry survey.
November 7, 2008 by Joseph McCafferty
Financial firms eligible for the federal government’s Troubled Asset Relief Program (TARP) are largely unsure of the plan’s implementation and may therefore decline assistance, according to an industry survey.
The Outlook: Obama’s First Moves
November 5, 2008 by Peter Morici
President-elect Obama cannot indulge in a measured transition. He is compelled by events to act decisively, through quick selection of a Treasury Secretary, who can work with incumbent Henry Paulson on the banking crisis, and by working to fashion a new stimulus package.
November 5, 2008 by Peter Morici
President-elect Obama cannot indulge in a measured transition. He is compelled by events to act decisively, through quick selection of a Treasury Secretary, who can work with incumbent Henry Paulson on the banking crisis, and by working to fashion a new stimulus package.
Bear Stearns CRO Lands Job at Fed
November 5, 2008 by Joseph McCafferty
Michael Alix, a twelve-year veteran of Bear Stearns and its senior risk manager during its decline, was announced last Friday as senior vice president in the bank supervision group of the New York Federal Reserve.
November 5, 2008 by Joseph McCafferty
Michael Alix, a twelve-year veteran of Bear Stearns and its senior risk manager during its decline, was announced last Friday as senior vice president in the bank supervision group of the New York Federal Reserve.
Exec Comp: Open to Suggestion
November 4, 2008 by Joseph McCafferty
Though many components of the country’s financial future remain in doubt, there is perhaps one issue that financial minds across the U.S. have come to grips with: in sorting this recent mess out, the structures and rates of executive pay will be modified.
November 4, 2008 by Joseph McCafferty
Though many components of the country’s financial future remain in doubt, there is perhaps one issue that financial minds across the U.S. have come to grips with: in sorting this recent mess out, the structures and rates of executive pay will be modified.
Treasury Says ‘No’ to GM Bailout
November 3, 2008 by Joseph McCafferty
The U.S. Treasury has refused financial assistance to General Motors, demonstrating that the auto industry will not be afforded the financial backing that the government has extended towards the banking industry. GM, which hopes to merge with Chrysler in the near future, requested up to $10 billion from the government in hopes pulling off the deal, but was denied, according to the Times.
November 3, 2008 by Joseph McCafferty
The U.S. Treasury has refused financial assistance to General Motors, demonstrating that the auto industry will not be afforded the financial backing that the government has extended towards the banking industry. GM, which hopes to merge with Chrysler in the near future, requested up to $10 billion from the government in hopes pulling off the deal, but was denied, according to the Times.
In Face of Bailout, Exec Comp Issues Loom
October 31, 2008 by Joseph McCafferty
Though Congress may be sold on the bailout, the American public largely is not, with many convinced that the U.S. government has given a free ride to those executives who have mismanaged their firms to the limits of solvency and yet will still earn salaries on par with profit-making executives.
October 31, 2008 by Joseph McCafferty
Though Congress may be sold on the bailout, the American public largely is not, with many convinced that the U.S. government has given a free ride to those executives who have mismanaged their firms to the limits of solvency and yet will still earn salaries on par with profit-making executives.
B of A Sues Former Bear Stearns Managers
October 30, 2008 by Joseph McCafferty
A misrepresentation of two Bear Stearns hedge funds cost Bank of America investors upwards of $1 billion, according to a lawsuit filed in Manhattan District Court. Bank of America’s lawyers allege that the asset-management unit of Bear Stearns marketed two hedge funds as sound investments in the spring of 2007, even though both funds had suffered massive withdrawal requests and were teetering on the verge of collapse.
October 30, 2008 by Joseph McCafferty
A misrepresentation of two Bear Stearns hedge funds cost Bank of America investors upwards of $1 billion, according to a lawsuit filed in Manhattan District Court. Bank of America’s lawyers allege that the asset-management unit of Bear Stearns marketed two hedge funds as sound investments in the spring of 2007, even though both funds had suffered massive withdrawal requests and were teetering on the verge of collapse.
Schwarzman Sees Profit Potential
October 29, 2008 by Joseph McCafferty
Ever the optimist, private equity magnate Stephen Schwarzman sees a deluge of money-making possibilities in the middle of the global market collapse.
October 29, 2008 by Joseph McCafferty
Ever the optimist, private equity magnate Stephen Schwarzman sees a deluge of money-making possibilities in the middle of the global market collapse.