Archive for January, 2009
Three regional banks fail
Three regional banks were closed Friday, bringing the total number of failed banks this month to six, as the financial crisis continues to take a toll on small banks nationwide.
AT&T chief gives up bonus
Read full story for latest details.
Don’t worry, be happy
Every now and then my natural talent for the evasion of unpleasant duties fails me. So it was that recently I found myself in a hotel chair, to my right some guy with dandruff and a Bluetooth in his ear, to my left his clone, listening to an analyst who works for a failing financial institution grill a variety of senior officers about the state of their businesses in this pesky economy of ours.
For sale: Championship sports bling
Whether Kurt Warner’s Cardinals or Ben Roethlisberger’s Steelers win the Super Bowl on Sunday is up for grabs. One thing is certain, however: The winners will get some serious bling. Per tradition, members of NFL and other professional and college championship teams get a big, diamond-encrusted ring commemorating their victory a few months after the big game. But in this dismal economy, will they keep it or sell it?
New York - the next housing bust?
The Masters of the Universe have been dethroned. Now the question is just how much Wall Street’s meltdown is going to hurt the city of New York and, by extension, its high-priced housing market.
Who needs a big raise? SEC staffers
Here’s a simple idea to prevent Wall Street meltdowns from happening again in the future, brought to you courtesy of the World Economic Forum in Davos: Start paying regulators much, much better.
Ugly end to brutal month for banks
Bank stocks took a nosedive Friday, as investors worried about dour economic data and questions about how soon aid for the financial sector will arrive.
Worst January ever for Dow, S&P 500
The Dow Jones industrial average and Standard & Poor’s 500 finished their worst January ever Friday as investors eyed abysmal reports on economic growth and quarterly earnings.
$4B shortfall - NYC may cut 23,000 jobs
The Big Apple will have to tighten its belt as the city that leans heavily on Wall Street’s profits is expected to suffer a dramatic decrease in tax revenues in coming years.
Davos divided on how to fix Wall Street
One of the more repeated comments heard in the after hours chatter in the salons of Davos was that no one from the financial industry has actually apologized for the mess they’ve created in the global financial system.
