Real-estate woes of banks mount Lenders dumping bad loans at discount; regulators see losses continuing. Michael Corkery, Jonathan Karp And Damian Paletta, Wall Street Journal 06 Jun 2008 04:36 Federal regulators warned Thursday that banking-industry turmoil would continue as financial institutions come to terms with piles of bad loans they made to finance the construction of homes and condominiums
http://www.nytimes.com/2008/04/18/business/18cnd-citi.html?hp [Zeppnote: Oil hit $117 a barrel, unemployment and under-employment jumped sharply, and the market soared again, some 225 points. A crash is now imminent] Citigroup Records a Loss and Plans 9,000 Layoffs Jin Lee/Bloomberg News Vikram Pandit has been the bank's chief executive for three months. Published: April 18, 2008
Wall St. Banks Confront a String of Write-Downs By JENNY ANDERSON New York Times, February 19, 2008 http://tinyurl.com/2lkwwg Wall Street banks are bracing for another wave of multibillion-dollar losses as the crisis that began with subprime mortgages spreads through the credit markets. In recent weeks one part of the debt market after another has buckled. High-risk loans used
WALL Street investment banks, stung by debt losses, have cut tens of thousands of jobs, but even more significant cuts are coming in the months ahead amid a bleaker earnings outlook More jobs cuts for Wall Street banks By Joseph A Giannone in New York Reuters February 16, 2008 08:30am Some of the securities industry's biggest profit drivers -- mortgages, junk bonds and leveraged buyouts
John Galt wrote: "Alan Lichtenstein" <arl@nospam.tld> wrote in message news:soWdnRWEw63AIFXbnZ2dnUVZ_gCdnZ2d@rcn.net... John Galt wrote: "Alan Lichtenstein" <arl@nospam.tld> wrote in message news:lOudndTklrVH3VXbnZ2dnUVZ_iydnZ2d@rcn.net... Alvin E. Toda wrote: On Sat, 18 Aug 2007, Capitalist Pig wrote:
