With credit markets quaking amid one of the most tumultuous days on Wall Street in a generation—including, perhaps, the failure of the fourth-largest U.S. investment bank—the Federal Reserve late Sunday moved to calm nerves by saying it would greatly expand its emergency lending programs for banks. ...
By David Lawder WASHINGTON (Reuters) - Treasury Secretary Henry Paulson is "adamant" that no government money be used in any deal that resolves the crisis at Wall Street investment bank Lehman Brothers, a source familiar with his thinking said on Friday. The source...
By John Parry NEW YORK (Reuters) - U.S. financial institutions borrowed a record $47.97 billion a day on average from the U.S. Federal Reserve in the latest week in a scramble for cash as the global credit crisis deepened, Federal Reserve data showed...
By Mark Felsenthal and Jessica Hall WASHINGTON/PHILADELPHIA (Reuters UK) - Goldman Sachs and Morgan Stanley got approval on Sunday to become bank holding companies regulated by the U.S. Federal Reserve, effectively killing off the investment banking model that has dominated Wall Street for more than...
By Glenn Somerville WASHINGTON (Reuters) - The U.S. Federal Reserve on Sunday launched a series of emergency measures to calm financial markets and ease any trading disruptions that could arise from a collapse of investment bank Lehman Brothers LEH. One of the biggest...
By Glenn Somerville WASHINGTON (Reuters UK) - The U.S. Federal Reserve on Sunday launched a series of emergency measures to calm financial markets and ease any trading disruptions that could arise from a collapse of investment bank Lehman Brothers LEH. One of the biggest changes the...
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