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- This Month: People - NYSE's Thain New Head Of Merrill Lynch.(appointment of John Thain at Merrill Lynch & Company Inc.)(appointment of Sonjoy Chatterjee at ICICI Banking Corporation Ltd.)(appointment of Alex Widmer at Bank Julius Baer and Company Ltd.
- John Thain, chief executive of NYSE Euronext, is to be the new chairman and chief executive of Merrill Lynch, as Stan O'Neil leaves the bank following heavy losses in the subprime mortgage meltdown. John Thain, chief executive of NYSE Euronext, is to be the...
- Research articles 2007-12-01
Additional Resources
- There won't be many winners in the subprime mortgage meltdown.(HOUSING)(Federal National Mortgage Association and Federal Home Loan Mortgage Corp.)(Brief article)
- There won't be many winners in the subprime mortgage meltdown. But two do come to mind: Fannie Mae and Freddie Mac, the mortgage giants backed by the government. Accounting scandals at both a few years ago led Congress to think about reining them in. Not...
- Research articles 2007-06-22
- Cash sources dry up for subprime mortgage lenders
- It was a black Tuesday for investors in subprime mortgage companies. Stock prices of the sector's major players were hammered as investors fled en masse, and one of the biggest success stories in the industry last year -- New Century Financial -- was forced off the New York Stock Exchange....
- Research articles 2007-03-14
- The model meltdown: the credit-rating agencies were caught by surprise when the mortgage meltdown hit. Their models were based on more traditional loans and borrower behavior that now seem outdated
- As the subprime mortgage crisis worsened this past spring, threatening to push the U.S. economy into a recession (if it wasn't in one already), a question seemed to linger in the air: Why hadn't the credit-rating agencies CRAs seen it coming? [??] In March, the Mortgage Bankers Association MBA in...
- Research articles 2008-04-01
- Survey: Mortgage meltdown vexes vehicle buyers.(News)(Brief article)
- Byline: Donna Harris The credit crunch is making many Americans nervous about whether they can finance a car or truck, a new study concludes. One in three consumers worries that turmoil in the subprime mortgage business will affect his or her ability...
- Research articles 2007-11-26
- Bear Stearns CEO to retire following subprime woes
- NEW YORK -- It took a few months, but the subprime mortgage meltdown finally claimed another victim late Tuesday when Bear Stearns CEO James "Jimmy" Cayne announced his retirement. Cayne, 73, will remain non-executive chairman of the firm, in which he owns a stake of almost...
- Research articles 2008-01-09
- US group buys German subprime casualty
- BERLIN AFP — US private equity group Lone Star is to take over IKB, the German bank rescued by state development bank KfW after falling victim to the subprime mortgage meltdown, KfW said Thursday. The sale price for KfW's 91 percent stake in IKB was not disclosed with KfW...
- Research articles 2008-08-21
- Do I hear ... anyone here? Tax-exempt healthcare facilities have taken a hit on auction-rate securities as the mortgage meltdown has investors skittish.(Industry overview)
- Byline: Melanie Evans Day after day, the tab continues to climb for tax-exempt hospitals, health systems and nursing homes caught in the nation's latest financing crisis. Interest rates on healthcare debt sold through frequent auctions have skyrocketed in recent weeks, as...
- Research articles 2008-02-25
- Bear Stearns fund managers found not guilty
- Two Bear Stearns hedge fund managers accused of misleading investors were found innocent of all charges on Tuesday, marking a blow to the first major effort by US prosecutors to bring a criminal case related to the subprime mortgage meltdown. Ralph Cioffi and Matthew Tannin, who ran two investment vehicles...
- News items 2009-11-10
- Subprime Mortgages: As the Knot Unravels, A Question Lingers: Why?
- Consumers and companies following their self-interest are supposed to be guiding forces that drive a capitalist economy. The recent meltdown of the subprime-mortgage market, however, raises the question of whether all participants were headed in that direction. And if not, why not? Subprime lending has grown dramatically since the late...
- Research articles 2007-05-01
- Mortgage woes keep piling up
- NEW YORK -- Fallout from the meltdown in the subprime mortgage industry continued to wreak havoc on Wall Street Wednesday, as three big financial institutions revealed new financial and legal problems, and shares of the USA's leading banks and brokerage firms sank. Morgan Stanley announced new...
- Research articles 2007-11-08
- Merrill Lynch hires NYSE chief as CEO
- NEW YORK -- Looking to move beyond a subprime mortgage mess that quickly erupted into its worst crisis in years, Merrill Lynch on Wednesday said John Thain, head of the New York Stock Exchange, would take over as its CEO on Dec. 1. The news ended...
- Research articles 2007-11-15
- Bearish turns; The subprime meltdown, continued.
- A prominent hedge fund's implosion revives fears about the poisonous influence in America's subprime-mortgage market "THEY kept pointing to the juicy yield, but our guys soon saw the paper for what it was: nuclear." Thus one chief executive, recounting his investment firm's decision to...
- Research articles 2007-06-23
- Turf Battles Emerge In Bid To Reform Secondary Mortgage Market
- With the meltdown in the subprime mortgage market serving as a backdrop, major sectors of the mortgage market began to stake out turf last week during the onset of congressional debate on a new regulatory scheme for the secondary market. Two hearings held by the House Financial Services Committee...
- Research articles 2007-03-19
- Mortgage Meltdown Dampens State's Commercial Real Estate Outlook.
- Byline: University of Florida GAINESVILLE, Fla., March 18 AScribe Newswire -- Fallout from the subprime meltdown is now spreading from the residential to commercial real estate sectors, but the outlook for Florida remains stable because of the fundamentals of good climate and in-migration,...
- Research articles 2008-03-18
- Former Bear Stearns execs charged
- NEW YORK -- In the first criminal case to target Wall Street figures associated with the subprime mortgage meltdown, prosecutors have accused two former Bear Stearns hedge fund managers of conspiracy and fraud. In a federal indictment unsealed Thursday in Brooklyn, prosecutors alleged that Ralph Cioffi,...
- Research articles 2008-06-20
- Subprime meltdown behind worst stock market slide since 2001-2002
- PARIS AFP — The collapse of the subprime mortgage market in the United States and the subsequent global financial crisis has provoked the sharpest fall on world stock markets since the end of the Internet bubble in 2001-2002. In the last year, leading indices have lost between 12 and...
- Research articles 2008-08-05
- The bonfire of subprimes
- In hindsight, it's not hard to see why so many home buyers got burned in the subprime mortgage meltdown. They might not have fully grasped the risks they were taking. Or perhaps they refused to believe housing prices could actually fall, or were desperate to keep up with others and...
- Research articles 2007-10-30
- More housing troubles foreseen
- BEVERLY HILLS, Calif. -- The chief executives of Countrywide Financial Corp. and KB Home predicted more trouble ahead for the nation's slumping housing market on Monday, calling on lawmakers to expand financing for homebuyers. The remarks from Angelo Mozilo of Countrywide, the nation's largest mortgage lender, and Jeffrey...
- Research articles 2007-10-30
- Alarm Bells Ring About Succession Planning
- The ongoing subprime mortgage meltdown means the drumbeat of CEOs being pushed out the door at some of the world's largest financial firms is getting faster. The struggles of these companies to find new leadership highlights an issue that's already been getting a lot of attention lately: the crisis in...
- Blog posts 2007-12-17
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