Could Your Bank Be Closed By The Feds? (C)(IMB)(BAC)(NCC)
The most important financial lifeline for most small businesses and consumers is their bank. More often than not these banks are regional or local. They are easier to approach and tend to give better service than large money center banks like Citigroup (C) which have...
Markets tread near dangerous territory
The tired Wall Street cliché “sell in May and go away” is looking pretty smart right now. The U.S. stock market has run into a renewed wave of selling that is threatening to send major indexes through lows set in March that many had thought...
Permanent Link to More bank failures may be on the way, FDIC warns
The agency’s list of ‘problem’ banks grows to its highest level in five years. By Jim Puzzanghera and E. Scott Reckard, Los Angeles Times Staff Writers August 27, 2008 WASHINGTON — Federal regulators Tuesday boosted to $8.9 billion the estimated cost of IndyMac Bank’s failure...
Wall Street sinks on concerns about Lehman Bros
NEW YORK — The optimism about the financial sector that followed the government’s weekend rescue of Fannie Mae and Freddie Mac lasted all of one day. The stock market collapsed anew Tuesday as deepening troubles at another major financial institution — investment bank Lehman Bros....
Shares in Lehman Brothers plunged 44.95 percent
Shares in Lehman Brothers plunged 44.95 percent, leading the markets in retreat on Tuesday, as efforts by the beleaguered investment bank to raise fresh capital appeared to falter, raising questions about the firm’s ability to survive. Skip to next paragraph Add to Portfolio Lehman Brothers...
Wall Street Scrambles as Banks Teeter
In a bid to prevent a collapse of Lehman from setting off a chain reaction of financial ruin on Wall Street, the Federal Reserve announced late Sunday night that it was easing the terms of its emergency lending to securities firms. BofA purchase of Merrill...