By Don MillerAssociate EditorMoney Morning U.S. banks ended a moratorium on foreclosures in March, resulting in a surge of foreclosure filings in May and propelling the number over 300,000 for an unprecedented third straight month, the latest report from RealtyTrac Inc. said yesterday (Thursday). The historic numbers highlight the struggles of the U.S. housing industry […]
Archives for June 2009
June 2009 - Page 7 of 11 - Money Morning - Only the News You Can Profit From
The Five Factors That Could Save "Government Motors"
[Editor's Note: This is the first of two parts. Next up: How China Could Save GM.] By William Patalon III And Jason Simpkins Money Morning Editors Critics have wailed about the years of mismanagement, which has created the company's present plight. And they've howled about a government bailout, which they see as nothing but good […]
Investment News Briefs
With our investment news briefs, Money Morning provides investors with a quick overview of the most important investing news stories from all around the world. Fed's Beige Book Shows Downturn Slowing; Home Depot Says Worst Is Over; ReFi Apps Slowest Since November; Senate Mulls Bigger Home Loan Tax Credit; U.S. Becomes Largest Shareholder in Citi; […]
Hot Stocks: Palm Pre Is No 'iPhone Killer'
By Bob Blandeburgo Associate Editor Money Morning Palm Inc. (Nasdaq: PALM) can't seem to catch a break. Just days after its stock hit a 52-week high and its new Pre smartphone sold out in its Saturday debut, Apple Inc. (Nasdaq: AAPL) stole Palm's thunder by announcing a new iPhone, the iPhone 3G S, and more […]
Obama Administration Wants New “Pay Czar” and Shareholder Vote to Reign in Executive Compensation
By Don MillerAssociate EditorMoney Morning The Obama administration yesterday (Wednesday) continued its assault on highly paid Wall Street executives, announcing plans to appoint a "pay czar" to oversee compensation at financial firms receiving Troubled Asset Relief Program (TARP) funds. The government also will create a new program to give shareholders at nonparticipating firms a vote […]
Chrysler-Fiat Deal Cleared by Supreme Court
By Bob BlandeburgoAssociate Editor Money Morning Chrysler LLC has officially been sold to Italian automaker Fiat SpA (ADR OTC: FIATY) after a Supreme Court delay was lifted Tuesday and the court rejected opponents' appeals. Supreme Court Justice Ruth Bader Ginsburg halted the sale on Monday to study appeals by Indiana pension funds and consumer group […]
By Dismantling Banking Rules, U.S. Government Has Guaranteed Future Financial Travails
U.S. banking-industry regulators have long understood that there needed to be a carefully delineated separation between such low-risk activities as deposit-based banking, and much higher-risk activities as investment banking. But the regulatory walls that separated the two have been steadily dismantled through the years, an intentional act that had the unintentional consequence of helping spawn […]
Investment News Briefs
With our investment news briefs, Money Morning provides investors with a quick overview of the most important investing news stories from all around the world. GM Names Post-Bankruptcy Chairman; Eddie Bauer Going Bust?; Consumer Confidence Climbs; U.S. Bankruptcy Filings Soar; Wells Fargo Lags On Applying for TARP Repayment; Crude Oil Tops $70 Edward E. Whitacre […]
Is the U.S. Economy Headed for a “Jobless Recovery?”
By Don Miller Associate Editor Money Morning Could the U.S. economy be looking at a "jobless recovery?" After the worst financial crisis since the Great Depression reached its apex late last year, the U.S. economy has shown signs of life in recent months. Stock prices have soared. The housing market – once in veritable freefall […]
By “Shopping” for Regulators, Private Equity Firms Have Discovered How to Buy Banks – Leaving Taxpayers With All the Risk
By Shah Gilani Contributing Editor Money Morning The financial Barbarians are at the gates of the U.S. banking sector. “Regulatory arbitrage” – sometimes called “regulatory shopping” – has emerged as the favorite strategy for these Barbarians, otherwise known as private equity firms, to get around the federal rules that kept them from owning banks. Why […]