By William Patalon III Executive Editor Money Morning/The Money Map Report American International Group Inc. (AIG), the largest U.S. insurance company by assets, may have to sell more than half its businesses to repay the $85 billion federal loan package it received last week. But it could actually reap as much as $115 billion by […]
Archives for September 2008
September 2008 - Page 3 of 11 - Money Morning - Only the News You Can Profit From
Credit Crisis Update: Proposed Bailout Faces Opposition, Wall Street on Sale
By Jennifer Yousfi Managing Editor As the ongoing effects of the capital markets credit crisis continue to be felt, U.S. government financial leaders urged Congress to make a speedy intervention, while foreign banks capitalized on U.S. distress by snapping up assets at bargain prices. U.S. markets sank yesterday (Tuesday) as a quick turnaround on the […]
Global Investing Roundups
Home Prices Still Dropping; Chrysler Chases GM; Oil Slides Back; Lennar Loss Beats Estimates; Kullman to Helm DuPont; ImClone Plays Hard to Get; France and Britain Nuclear Match? Nationwide home prices fell a record 5.3% in July compared with a year ago, the Federal Housing Finance Agency said yesterday (Tuesday). Prices were down 0.6% from […]
Paulson and Bernanke Testify Before Congress in Favor of $700 Billion Government Banking Bailout
By Jennifer YousfiManaging Editor U.S. Treasury Secretary Henry Paulson and U.S. Federal Reserve Chairman Ben S. Bernanke both testified before Congress today (Tuesday) to urge lawmakers to quickly approve the proposed $700 billion government banking bailout plan. The two financial pointmen of the bailout plan testified in favor of the proposed legislation before the Senate […]
Dismal Holiday Shopping Season Holds Little Relief for the U.S. Economy
By Jennifer YousfiManaging Editor The usual Christmas rush will hold little relief for retailers and a flagging U.S. economy, as the National Retail Federation (NRF) predicts a lackluster holiday shopping season. The NRF today (Tuesday) released its estimate for the 2008 holiday shopping season. The largest global retail trade association forecast a scant 2.2% increase […]
Dodge the Pitfalls and Uncover the Profits From the $700 Billion Banking System Bailout
By Martin Hutchinson Contributing Editor With the exception of a few curmudgeonly old Republicans, there has been general rejoicing at U.S. Treasury Secretary Henry M. Paulson's $700 billion banking system bailout. Indeed, to hear some commentators you would think it was cost free – they explain joyfully that assets will only be acquired at a […]
The Inside Story of the Collapse of AIG
[Due to the remarkable market events playing out as a result of the credit crisis, Money Morning's Web site experienced extraordinarily high levels of traffic, and suffered some outages as a result. Although we believe the problem is fixed, we fear some readers may have missed Part II of Shah Gilani's superb three-part investigation of […]
Government Grapples With Details of $700 Billion Bailout
By Jennifer YousfiManaging Editor President George Bush yesterday (Monday) urged congressional legislators to put aside differences and work together for a speedy passage of a bill that would pledge $700 billion in taxpayer money to fight the current financial crisis – the largest bailout in U.S. history. "[T]here will be differences over some details, and […]
Crude Oil Futures Post Record Gain as "Peak Oil" Expert Calls for Rally to $500 a Barrel
By William Patalon III Executive Editor Money Morning/The Money Map Report Crude oil futures zoomed more than $16 a barrel yesterday (Monday) – and traded as high as $130 a barrel – thanks to a steep decline in the U.S. dollar and speculation that the Bush administration's plan to bail out the financial sector might […]
Goldman Sachs, Morgan Stanley Seek Fresh Start as Holding Companies
By Jason Simpkins Associate Editor Goldman Sachs Group Inc. (GS) and Morgan Stanley (MS), Wall Street's last remaining investment banks, are converting to holding companies now that the collapse of The Bear Stearns Cos. Inc. and Lehman Bros. Holdings Inc. (OTC: LEHMQ) have drained clients and investors of any remaining confidence in the companies' business […]