Archives for March 2009

March 2009 - Page 11 of 12 - Money Morning - Only the News You Can Profit From

When it Comes to Naming Wall Street’s Worst Invention Ever, Credit Default Swaps Continue to Fill the Bill

By Martin HutchinsonContributing EditorMoney Morning When it comes to naming a winner in the competition for "the worst product ever invented by Wall Street," there is quite a list of worthy candidates. With just the current financial crisis alone there are such "inventions" as subprime mortgages, auction rate preferred stock and asset-backed commercial paper, which […]

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Global Investment News Briefs

Berkshire's Armor Cracks; JPMorgan Bags $5 Billion Selling Deriviates; Recordati Proposes Increased Divided; China May Double Stimulus This Week; Homes Sales Continue to Break Down; After recording its worst financial results ever last year, Warren Buffet's Berkshire Hathaway Inc. (BRK.A, BRK.B) announced it would cut manufacturing jobs and close facilities to buffer itself against the […]

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Almunia Insists the Eurozone Could Withstand a Member’s Collapse

By Mike Caggeso Associate Editor Money Morning Ireland is deep trouble. So are Romania, Greece and Hungary. But even with the strongest nations in the Eurozone severely weakened, European Monetary Affairs Commissioner Joaquin Almunia asserts that there would be no need for a country on the brink of collapse to seek help elsewhere. "If a […]

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Russia's Economic Demise Could Turn "BRIC" to "BIC"

By Mike Caggeso Associate Editor Money Morning Russia's continuing weakness could cost the country its membership in one of the most identifiable and esteemed investor acronyms – the BRIC nations. Back in 2001, the Goldman Sachs Group Inc. (GS) – eager to push its clients toward emerging markets investment – created the acronym "BRIC" to […]

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Global Investment News Briefs

Freddie Mac CEO Quitting; HSBC Selling Shares, Cutting Jobs; Wendy's/ Arby's Loses $390 Million in 4Q; South Africa Unemployment Fell to 21.9% in 4Q; Venture Capital Investment Plummets; Dish Network Ups Profit, Loses Subscribers Six months after becoming Freddie Mac (FRE) Chief Executive Officer, David Moffett is stepping down from his post, citing a desire […]

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AIG Gets Third Government Bailout After Posting Record Loss

By Jason Simpkins Managing Editor Money Morning American International Group Inc. (AIG) will receive as much as $30 billion government aid after posting a $61.7 billion fourth-quarter loss, the largest loss ever by a public company. In addition to receiving $30 billion in government capital, AIG will benefit because the U.S. Treasury Department will relax […]

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Friday’s Employment Report Could Show the Biggest One-Month Job Loss in Nearly 60 Years

By William Patalon III Executive Editor Money Morning/Money Map Report When the Labor Department releases February’s U.S. employment numbers on Friday, economists are expecting to see the largest one-month job loss in nearly 60 years. With consumer spending in a freefall and factory output continuing to plunge, U.S. companies are idling plants, slashing extra workers […]

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