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November 19, 2008 – Kenneth Lewis, Bank of America's chairman, chief executive and president, went to Detroit on Tuesday and doled out advice to fellow lenders and the city's major industry, the ailing automakers.
November 19, 2008 – Ambac's exposure to the US residential mortgage market and related collateralized debt obligation structures will continue to expose the company to the potential for further losses, according to S&P.
November 19, 2008 – Despite having Dan Quayle as its chairman, Chrysler's owner, Cerberus Capital Management, maintains an awkward position as the embattled automakers reach out to Congress for a piece of the bailout.
November 19, 2008 – Having unveiled plans earlier this week to shed a sizable chunk of its workforce, Citigroup Wednesday said it is buying up the last $17.4 billion of assets in its structured investment vehicles.
November 18, 2008 – Mortgage bankruptcy reform is officially reclaiming the congressional stage this week--Sen. Richard Durbin re-introduced his bill Monday ahead of a hearing on the issue Wednesday in the House Judiciary Committee.
November 18, 2008 – Cecelia Sutton, the incoming president of Morgan Stanley's retail banking business, has her work cut out for her.
November 18, 2008 – The SEC’s insider trading complaint against Mark Cuban highlights the debate around PIPE investments.
November 18, 2008 – The massive declines in the stock market have taken their toll on asset manager BlackRock, whose assets under management fell by $169 billion in the third quarter. Now the firm is expected to slash its workforce.
November 18, 2008 – Barclays is the latest financial giant to see its senior managers give up their 2008 bonus money.
November 17, 2008 – As the credit crunch continues to migrate to new categories of lending, one of the stress points many expect to come to the fore soon is a round of private equity loans struck in the first half of the decade.
November 17, 2008 – The recent demise of DBSI illustrates just how deep the problems in commercial real estate are at the moment.
November 17, 2008 – A dispute between JPMorgan Chase and Freddie Mac suggests that the continuing consolidation in banking may complicate the government-sponsored enterprises' growing efforts to make lenders buy back faulty loans. Freddie disclosed Friday that JPMorgan may refuse to repurchase troubled home loans that Washington Mutual sold to the GSE.
November 17, 2008 – A federal court began hearing arguments at 9 a.m. Central Time today over whether Jefferson County, Ala.'s financially troubled sewer system should be placed in receivership.
November 17, 2008 – Citi unveils plans to slash about 50,000 jobs, dramatically cut costs and continue to reduce assets.
November 17, 2008 – UBS Global Asset Management and MerchantBridge, a direct investment and private equity firm based in Riyadh, Saudi Arabia, have launched a joint venture to develop investments in the Middle East.
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