Money Market Archives

U.S. Government Unveils Sweeping Citigroup Rescue
By: manybanking.com Staff
The plan includes taking a $20 billion stake in the firm as well as guaranteeing up to $306 billion of risky loans and securities.Updated from 3:33 a.m. EST  By Jeannine Aversa from The Associated Press Read more»
Banks Strain as Capital Drains
By: manybanking.com Staff
The bad news for banks just got worse, as the number of undercapitalized institutions rose last quarter.Some undercapitalized banks were nearly wiped out by securities losses springing from the government takeover of Fannie Mae and Freddie Mac in September, which all but eliminated the value of the mortgage giants' preferred stock. Read more»
Citigroup to cut another 53,000 jobs
By: manybanking.com Staff
NEW YORK (AP) _ Citigroup Inc. is cutting approximately 53,000 more jobs in the coming quarters as the banking giant struggles to steady itself after suffering massive losses from deteriorating debt.The plans, posted on the company's Web site, are being discussed by CEO Vikram Pandit at the company's town hall meeting in New York Monday with employees. Read more»
Avoid the Most Common Money Mistakes
By: manybanking.com Staff
Taking care of personal finances isn’t always an easy task and sometimes we make some major blunders.Taking care of personal finances isn’t always an easy task, and sometimes we make some major blunders. But experts agree that it’s the same few mistakes that are made time and time again. Read more»
WASHINGTON (AP) _ The government has abandoned the original centerpiece of its $700 billion rescue effort for the financial system and will not use the money to purchase troubled bank assets.Treasury Secretary Henry Paulson said Wednesday that the administration will continue to use $250 billion of the program to purchase stock in banks as a way to bolster their balance sheets and encourage them to resume more normal lending. Read more»
Bailout May Undermine Goals of Investors
By: manybanking.com Staff
In effect, the government has nationalized the banking system and announced it will "print" or create all the credit necessary to get the economy going again. Money is fuel for the markets, and confidence is the pump that sends the fuel through the system. We're getting a big dose of both. By Terry Savage Read more»
The Pitfalls of Advice from Financial Writers
By: manybanking.com Staff
While personal finance reporters are certainly not writing with the intent to give readers inappropriate information, the problem is that nobody who writes about personal finance will be 100% correct when it comes to each individual.By Jeffrey Strain Take your favorite personal finance writer's advice with a grain of salt. Read more»
Another 1929? No, and Here's Why
By: manybanking.com Staff
The stock market bears some resemblance to the 1930s, but the policy response is vastly different. By Vince Farrell Jr. (Vince Farrell Jr. is chief investment officer for Soleil Securities Group and a contributor to TheStreet.com and its subscription investor site RealMoney). Read more»
Fragile Foundation for Growth
By: manybanking.com Staff
Thus far, the credit markets have thawed in a consistent and sequential improvement in LIBOR, spreads and other measures over the last two weeks. That's a good thing, but it doesn't mean that the availability and cost of credit will readily improve. By Doug Kass Read more»
Sustained Market Advance Unlikely
By: manybanking.com Staff
Commentary by Doug Kass, who writes daily for RealMoney Silver, a premium bundle service from TheStreet.com. For a free trial and exclusive access to Mr. Kass' daily trading diary, please click here RealMoney Silver. Read more»
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