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Big Loss For MBIA In 1Q

US bond insurer MBIA Monday reported a first-quarter loss of $2.4 billion, or $13.03 a share, compared with net income of $198.6 million or $1.46, in the first quarter of 2007.

Moral Bankruptcy

As the economy slows, investigation of corporate malfeasance becomes a big business.

Fremont Mulls Chapter 11 Filing

Fremont General said Friday it may file for Chapter 11, a day after disclosing its intent to sell the rest of its mortgage services operations to Litton Loan Servicing, an affiliate of Goldman Sachs.

Pre-Packs Continue Their Resurgence

As the credit-market dislocation chugs on, one corner of the bankruptcy world is getting more attention: pre-packs.

Ratings Actions

The latest ratings upgrades, downgrades and outlooks from S&P and Moody's.

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Articles

Out of Options

High-yield bond investors who hold Residential Capital notes expressed resignation last week over the bond exchange offer the company has initiated. While it's not the best deal around, the bondholders don't really have much choice but to approve it.

The Great Escape?

Sentiment about US credit markets has improved in recent weeks, thanks in part to a March bailout of Bear Stearns orchestrated by the Federal Reserve as well as a steady campaign by the US central bank to improve liquidity of fragile capital markets. The slight uptick in confidence is reflected in narrower yield premiums in a variety of debt markets, as well as a pickup in the issuance of a variety of debt and equity securities.

Asset Management M&A Rolls On

M&A deal flow has slowed in many sectors, but not in asset management. According to data from Jefferies Putnam Lovell, 54 deals in the asset management industry were announced in the first quarter of this year, a record high for that period.

'Show Them the Money!'

It's hardly a secret that write-downs and credit market dislocation have hammered the performance of financial-services companies' stocks, but the pall hanging over the industry has created opportunity for certain investors, according to Melissa Roberts, an analyst with Keefe, Bruyette & Woods who recently authored a report on capital infusion opportunities in the financial-services industry.

Lehman Brothers Keen on SWFs

Lehman Brothers named Makram Azar to fill a newly created position, global head of sovereign wealth funds. He also becomes chairman of media investment banking for Europe and the Middle East.

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