an incidence of substantial losses on the stock market. Black Monday (October 19, 1987) was described as Meltdown Monday in the press the following day.
This paper describes how convertible bond arbitrageurs escaped the telecom crash by over hedging their portfolios. In this scenario, convert arbitrageurs, as the primary providers of liquidity to this niche market, could have the Janus Fund and the entire mutual fund industry effectively at their mercy- unless, of course, these...
Outlook A colleague with a longer recollection of financial crises than mine says that, when he first came into financial journalism, there used to be something known as "the 40-year rule". This had it that really serious banking crises only happened once every 40...
SAN RAMON, Calif. -- Tri-Valley Bank (OTCBB:TRVB), today issued a statement to reassure its investors and customers of its stability. Over the last several months, reports and stories have appeared in local and national media asserting that many of the nation's financial institutions are facing problems with poor...
WASHINGTON AFP — US President George W. Bush, targeting election-year fears of an economic meltdown, urged lawmakers Tuesday to help battle soaring energy costs and shore up the "basically sound" US banking system. "The bottom line is this: We're going through a tough time," Bush said at his...
Stocks of regional banks plunged Monday, a sign that jittery investors fear that the mortgage meltdown could push more banks into failure. Washington Mutual led the sector's decline, sinking 35% to close at $3.23 a share, after an analyst questioned the thrift's financial viability. Investors also sold off...
Support package for mortgage giants w Indymac is third largest banking collapse in US history The United States Treasury and The Federal Reserve announced measures to shore up Fannie Mae and Freddie Mac - the struggling government-sponsored companies that underpin the American mortgage market - in a...
WASHINGTON AFP — Shares in Fannie Mae and Freddie Mac appeared to steady Monday after a near-meltdown last week, as investors mulled a weekend plan offering a government lifeline for the US mortgage finance giants. Freddie Mac's shares shot up as much as 26 percent, then fell eight...
Take cover, City Hall. The shrapnel of America's mortgage-crisis meltdown is coming your way. It's already taking a toll on the economy. Now it's looking at your sewer systems, your water lines -- even your plans to build a new police or fire station could be on...
WASHINGTON, AFP — Shares in Fannie Mae and Freddie Mac struggled anew after a near-meltdown last week, as investors mulled a weekend plan offering a government lifeline for the US mortgage finance giants. Freddie Mac's shares shot up as much as 26 percent, Monday but lost steam and...
WASHINGTON AFP — Fannie Mae and Freddie Mac were rebounding sharply Monday from a near-meltdown last week, boosted by a weekend plan offering a lifeline of fresh credit from the US Federal Reserve and Treasury. In pre-opening trade, Freddie Mac's shares surged 38 percent and Fannie Mae 37...
Dear Frank WE FEEL your pain. How dare they of fer pounds 29million for four years' work in a job you profess to love? It's an insult. A slight on your professionalism, a blight on the badge you kiss so theatrically, so...
American troubles further destabilise London shares, with fears that the news is only going to get worse over the coming weeks Fears of a meltdown in the US mortgage market are likely to stoke further falls in the value of equities this week, with billions of pounds...
Dear Frank WE FEEL your pain. How dare they of fer EUR29million for four years' work in a job you profess to love? It's an insult. A slight on your professionalism, a blight on the badge you kiss so theatrically, so often....
Dear Frank WE FEEL your pain. How dare they of fer pounds 29million for four years' work in a job you profess to love? It's an insult. A slight on your professionalism, a blight on the badge you kiss so theatrically, so...
Outlook Could this be the big one? All market firestorms require a defining, cataclysmic event to mark the bottom and establish a floor from which confidence can rebuild. Northern Rock, in international terms a smallish, regional mortgage bank, was never likely to be it. Personally I thought...
What with the "summer" weather and threats of economic meltdown, people could be forgiven for feeling down in the dumps. All across the country wallets are being tightened, Benidorm forsaken for Bognor, M&S traded for Primark. Now, if the former Genesis frontman Peter Gabriel, below, is to...
What with the miserable summer weather and seemingly endless threats of economic meltdown, people could be forgiven for feeling a little down in the dumps. All across the country wallets are being tightened, Benidorm forsaken for Bognor, M&S traded for Primark. Now, if the former Genesis frontman...
LOS ANGELES AFP — Federally-seized IndyMac Bank was due to reopen Monday after suffering one of the biggest bank closures in US history, as the troubled US mortgage industry struggles to stem further meltdown. The regulatory Office of Thrift Supervision OTS announced Friday it had placed the California-based...
NEW YORK -- The launch of Apple Inc.'s much-anticipated new iPhone turned into an information-technology meltdown on Friday as customers were unable to get their phones working. "It's such grief and aggravation," said Frederick Smalls, an insurance broker in Whitman, Mass., after spending two hours on the...
Unpaid bands, disgruntled punters, bars running dry and regular cancellations. Are music festivals facing meltdown? PAUL FLECKNEY reports on a summer of woe for rock fans around the country What is happening to Britain's music festivals? One minute the infrastructure is creaking as half the nation tries...
Articles 2008-07-11
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