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Wells Fargo Agrees To Buy Wachovia, Citi Objects
NEW YORK (AP) - A battle broke out for control of Wachovia Friday as Wells Fargo signed a $15.1 billion agreement to buy the Charlotte, N.C.-based bank, while Citigroup and the federal regulators backing its earlier deal insisted that Citi's takeover bid go forward. ...more
October 5, 2008
Sales Central To AIG Recovery Plans
American International Group said Friday it plans to sell a number of business units to pay off its massive government loan. ...more
October 4, 2008
Fannie, Freddie Disclose Subpoenas, Investigations
WASHINGTON - A federal grand jury is investigating accounting and disclosure issues at Fannie Mae and Freddie Mac, the mortgage finance companies said Monday. ...more
September 29, 2008
Variety Is The Spice Of Your Portfolio
If your stock portfolio has been hit hard because you were too heavily invested in the financial sector, sob. ...more
September 28, 2008
WaMu's Overnight Merger Stirs Angst, Relief In Tampa
JPMorgan Chase's Thursday night takeover of troubled lender Washington Mutual Inc. didn't erase the dread of some borrowers, including Rick Howell of Tampa. He had a $169,000 equity line of credit with WaMu. ...more
September 27, 2008
WaMu Taken By Regulators, Sold To JPMorgan Chase
Washington Mutual, the giant lender that came to symbolize the excesses of the mortgage boom, was seized by federal regulators Thursday night in an 11th-hour bid to prevent the largest bank failure in American history. ...more
September 26, 2008
Democrats Had Hand In Meltdown
It isn't often that public outrage peaks so close to an election, but this is a rare moment in history when "we the people" can exact a price from the political leadership that has duped, scammed and lied to them, contributing mightily to the current financial mess. ...more
September 26, 2008
$5 Billion Raised In Goldman Stock Offer
Goldman Sachs Group, seeking to improve not only its balance sheet but its standing with investors, has undertaken a huge capital-raising program that includes an investment of at least $5 billion from Warren Buffett and a common stock offering for another $5 billion. ...more
September 25, 2008
FBI Investigating Insitutions That Triggered Crisis
WASHINGTON (AP) -- The FBI is investigating four major U.S. financial institutions whose collapse helped trigger a $700 billion bailout plan by the Bush administration, The Associated Press has learned. ...more
September 23, 2008
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