Erin Callan, the former chief financial officer of Lehman Brothers Holdings Inc., was hired by Credit Suisse Group AG to head a unit that advises hedge funds.
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It seems like prices will never stop going up. The Labor Department reported a 1.1 percent increase in June’s consumer prices. Meanwhile, wages fell by .9 percent. …
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SEC Chairman Christopher Cox’s emergency announcement that the Securities and Exchange Commission will limit short sales of stocks in Fannie Mae , Freddie Mac , and brokerage firms for 30 days is yet another …
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“It is that time of the month again folks! The June monthly CA foreclosure report is ready, data courtesy of Foreclosure Radar. It was another ‘record’ month, which when speaking of foreclosures, is not a good thing. However, in a couple of areas we show some ‘leveling-off’.”
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Lehman Brothers Chief Executive Richard Fuld is considering ways to take the Wall Street investment bank private, the New York Post reported on Tuesday.
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“”The rule makes shorting more difficult, which looks like an attempt to balance the pro-shorting effect of the dividend cut,” the expert said. He asked that we not name her because he’d totally lose his high-paying job at a white shoe law firm if he was quoted on this.”
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“Wachovia’s stock fell to a 17-year low yesterday after an analyst warned that the commercial bank, which holds more deposits than any other in the Washington region, will face two years of losses arising from the credit crisis and a dramatic restatement of troubled assets on its books.”
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“Lee Adler and Russ Winter analyze the impact of key financial events on the financial markets and economy and tell what to look for in the weeks and months ahead. Russ says panic has created bargains in some bank stocks.”
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“Wells has a substantial $84 billion portfolio of home equity loans — and half of those are located in hard hit states like California and Florida; of that total, it has carved out the worst $11 billion for liquidation, with rest remaining as part of its “core” home equity portfolio.”
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