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The Nattering Naybob Chronicles (Free subscription) | 07/24/2008
On the road, so we are sparse till Tues, here are the links, have at it and enjoy. Initial Claims rise over 400K & Existing Home Sales hit 10 year low Pimco: Credit Crunch = Market Mad Cow MSN Markman: Market at Bottom? Don't Believe It . Ford Motor's $8.7 billion loss . National City Bank $1.7 billion loss New York's Cuomo Sues UBS . Los Angeles Sues MBIA & Ambac Bond Insurer's
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The Earth Times Online Newspaper (Free subscription) | 07/24/2008
CHICAGO (Reuters) - The city of Los Angeles sued more than 30 municipal bond insurers and Wall Street investment banks, accusing them of fraud and antitrust that it said cost taxpayers millions of dollars.
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The Earth Times Online Newspaper (Free subscription) | 07/24/2008
(Reuters) - The city of Los Angeles has filed two lawsuits against more than 30 Wall Street finance firms, including some top investment banks, alleging municipal bond collusion that cost taxpayers millions of dollars.
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Financial Time (Free subscription) | 07/23/2008
Shares in Dexia and Assured Guaranty fell sharply in response to a warning by Moody's Investors Service that it might cut the triple A credit ratings of their bond insurance operations
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Stocks to Watch Today (Free subscription) | 07/22/2008
MOODY’S MEANING FOR ASSURED GUARANTY, WILBUR ROSS For more than three months, billionaire investor Wilbur Ross’s push into the municipal bond insurance business looked like something of a masterstroke. His commitment to plunge up to $1 billion in the future of Assured Guaranty (AGO) held up remarkably well in the face of a financial services collapse. [...]
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Do it for BUSINESS (Free subscription) | 07/22/2008
Mbia and ambac wednesday after bank said their capital cards may not state three for long. Two bond insurers are under market due organisationss about deterioating services portfolios eak annual equitys made house servicesmittee life prices and their financial capital. Concern about the twopanies ability chairman barney financial business with bruised reputations services . Business insurers mbia and...
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PR News Wire (Free subscription) | 07/21/2008
PORTLAND, Ore., July 21 /PRNewswire-FirstCall/ -- StanCorp Financial
Group, Inc. (NYSE: ) today reported net income for the second quarter of
2008 of $0.98 per diluted share, compared to $0.97 per diluted share for
the second quarter of 2007. Net income for the same periods was $48.4
million and $52.1 million, respectively. After-tax net capital losses were
$14.0 million for the second quarter of 2008,...
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Bronte Capital (Free subscription) | 07/21/2008
I have just sold my small holding of MBIA. I have been convinced - following a careful examination of documents issued for GICs - that this post is incorrect in several important ways. In particular the GICs at MBIA have a larger effect on parent company liquidity than GICs at Ambac. I still have no opinion whatsoever on the solvency of the insurance company. [I intend to do that work - and if I form...
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Business Wire (Free subscription) | 07/18/2008
NEW YORK--(BUSINESS WIRE)--Fitch revises the ratings on Connecticut Higher Education Supplemental Loan Authority (CHESLA) Amended and Restated 1996 Master Trust as follows:
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The Street (Free subscription) | 07/18/2008
The bank shed $2.5 billion driven by $7.5 billion in writedowns.
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SignalBlog (Free subscription) | 07/18/2008
Moody’s Investors Service downgraded the senior long-term debt of Merrill Lynch & Co. to “A2″ from “A1″ Thursday to after the world’s largest brokerage posted a $4.9 billion second-quarter loss, hurt by massive write-downs from mortgage-backed securities and other risky investments. The ratings agency said the company’s financial flexibility is more limited now. “Management’s options to sell [...]
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Explore : Automotive, Business, Chrysler, Credit, Fannie Mae, Financial Services, Investment Brokerage, Merrill Lynch, Merrill Lynch, Moody's, Morgan Stanley, Pilgrim's Pride
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CNN (Free subscription) | 07/18/2008
Merrill Lynch booked its fourth-straight quarterly loss Thursday, this time losing nearly $5 billion, as the nation's largest brokerage was forced to once again take massive writedowns.
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Market Watch (Free subscription) | 07/17/2008
SAN FRANCISCO (MarketWatch) -- MBIA Inc. will probably go into "run-off," John Thain, chief executive of Merrill Lynch said during a conference call with analysts late Thursday. It's "very unlikely that they will actually default, because it's not in their interest to do that," Thain explained. "I think they will simply go into a run-off mode and keep making their payments and live for years and years...
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Trinidad Express (Free subscription) | 07/16/2008
So you have 'sold' your RBTT shares to its former parent, and I imagine some of you have bought other shares to replace RBTT in your portfolios. Others have opted for a safer haven of Money Market Funds, and still some may have adopted a 'never me again' approach. One thing you all have in common though is that you are all shareholders of Royal Bank of Canada (RBC). Royal Bank of Canada is that nation's...
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traderthoughts.com | 03/03/2008
The past week started on a seemingly strong note, with the positive sentiment witnessed towards the end of last Friday (February 22) carrying forward on Monday, after S&P reiterated its top rating for Ambac Financial and took MBIA off its credit watch list. The front-line indexes held on to their gains over the following two trading sessions, managing to shrug off the weak economic data on the back...
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traderthoughts.com | 02/04/2008
The markets kick-started this week on a positive note, with each of the front-line indexes gaining between 1% and 1.8%, anticipating a Fed rate cut. The next two days were spent in a wait and watch mode with the indexes remaining largely flat. Contributing to the sharp intra day reversal on January 30th after the Fed cut was the news of Fitch Ratings downgrading bond insurer FGIC (from AAA to AA).
