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Stanley Works Nails Black & Decker Deal; Credit Suisse Triples AIG Earnings Forecast; BofA to Pay Back $20 Billion in TARP Funds; RIM Shares Hit by New Phones; Pending Contracts on Existing Homes Jump; Obama Warns of More Job Losses; New Merck Drug Denied By FDA; Pay Czar Hopes Other TARP Banks Follow His Lead on Cuts
Is Timothy Geithner A Roadblock to Regulatory Reform?
Financial disclosure forms revealed last week that some of U.S. Treasury Secretary Timothy F. Geithner's closest aides earned millions of dollars a year working for top Wall Street firms. That finding alone would not likely be enough to cast doubt over Geithner's ability to take the lead in reforming the financial system. But this isn't […]
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. JPMorgan Q3 Earnings Lift Markets; BofA Testing New Fees; China Curbing Steel Production; Bloomberg to Acquire BusinessWeek; House Working on Regulatory Legislations; Japan PPI Down 7.9%; Pay Czar: Lower Pay […]
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. AIG Selling Taiwan Life Insurance Unit; Source: Comcast Proposes NBC Universal JV; China Auto Sales up 78% in Sept.; Whitney Cuts Goldman to Neutral; Bank of America Turns over Merrill […]
Hidden Traps Make Bank Stocks a Bad Deal
Billionaire investor George Soros said yesterday (Monday) that the U.S. recovery would be a slow one because of all the "basically bankrupt" financial companies impeding it. U.S. Federal Reserve Chairman Ben S. Bernanke and Congress agreed Friday that the financial system – not the American taxpayer – should bear the costs of bank bailouts. Sheila […]
AIG to Seek More Government Assistance as it Braces for a $60 Billion Quarterly Loss
By Jason Simpkins Managing EditorMoney Morning American International Group Inc. (AIG) – once the world's largest insurer – is back in discussions with the government to restructure its $150 billion bailout package for the second time in four months, as the company continues to struggle with ratings downgrades, collateral calls from debt investors, writedowns on […]