By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report The economic releases now (and for the immediate future) will be weak – that’s a given. Therefore, investors should give them a passing glance, evaluate the consequences and potential remedies, and move on. In fact, the bigger picture should focus on how to correct these assorted […]
Archives for October 2008
October 2008 - Page 12 of 14 - Money Morning - Only the News You Can Profit From
Wells Fargo and Citigroup Continue to Battle for Wachovia
By Jennifer YousfiManaging Editor The battle for battered bank Wachovia Corp. (WB) is heating up with Citigroup Inc.’s (C) win of a court order to extend negotiations, while Wells Fargo & Co. (WFC) contends its merger agreement still stands. Late Saturday evening, Citi won a court order from New York State Supreme Court Justice Charles […]
Buy, Sell or Hold: Bank of America Corp.
The U.S. financial-services sector is undergoing the broadest restructuring of a single industry in the history of Corporate America, and Bank of America Corp. (NYSE: BAC) has positioned itself to emerge as one of three clear frontrunners. Indeed, along with Citigroup Inc. (NYSE: C) and JPMorgan Chase & Co. (NYSE: JPM), Bank of America could […]
Credit Crisis Safety Plays: Three Steps to Take to Make Sure Your Bank is Safe
[The second installment in an ongoing series detailing strategies that investors can use to insulate themselves and their finances from the ongoing credit crisis.] By Keith Fitz-GeraldInvestment DirectorMoney Morning/The Money Map Report Seeing banks such as Wachovia Corp. (WB) get sold or Washington Mutual Inc. (WM) fail is scary for retail banking customers. But there […]
Citigroup Takes Issue with Wells Fargo Bid for Wachovia
By Jason SimpkinsAssociate Editor Wells Fargo & Co. (WFC) Friday agreed to buy all of Wachovia Corp. (WB) for about $15 billion in stock, however, Citigroup Inc. (C), which had already agreed to buy Wachovia’s banking operations, immediately issued a protest that could jeopardize the deal. “Citi has substantial legal rights regarding Wachovia and this […]
Banking Bailout Becomes Law With House Vote, Bush Signing
By Jennifer YousfiManaging Editor A revised version of the $700 billion banking bailout legislation was signed into law Friday by President Bush after passing in the House of Representatives with a 263-171 vote. The new law grants the government authority to purchase securities from struggling financial firms facing a liquidity crisis due to the current […]
That Sound You Hear is the Government's Printing Presses Running Overtime
After some of the most tumultuous trading in history – not to mention the most pathetic political posturing we've ever seen – my e-mail box has overflowed with questions, comments and suggestions. This week, I want to answer one of the most frequently asked questions that I've received: "Where does all the bailout money come […]
Did Wall Street's "Specialists" Save Us from a 1,300-Point Decline on Monday?
By Martin Hutchinson Contributing Editor The 777.68-point nosedive in the Dow Jones Industrial Averageon Monday was the single-biggest point drop ever, eradicating $1.2 trillion in shareholder wealth, and leaving mainstream investors feeling shell-shocked after the House of Representatives rejected a $700 billion banking bailout bill. But here's what most people don't know. The damage could've […]
Surprise! Despite its "Black" Reputation, October Isn't the Worst Month for Stocks.
By Jennifer YousfiManaging Editor Fresh off one of the most-volatile months ever for U.S. stocks, investors can't be happy that they're facing another October – the poster child for U.S. stock market crashes. Thanks to the stock market crashes of 1929 and 1987, October has a reputation for being a horrible month for stocks. But […]
Credit Crisis Safety Plays: How to Make Sure That Your Bank Deposits are FDIC Insured
[The first installment in an ongoing series detailing strategies that investors can use to insulate themselves and their finances from the ongoing credit crisis.] By Keith Fitz-GeraldInvestment DirectorMoney Morning/The Money Map Report With evidence mounting by the day that the banking industry may be in deeper than it admits, many investors are wondering what the […]