Wall Street

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Sorry, Guys, No Rivalry Between CNBC Babes
Sorry, Guys, No Rivalry Between CNBC Babes
GLOSSIES
Oct 4, 2008 3:47 AM CDT

Sorry, Guys, No Rivalry Between CNBC Babes

Rumors of feuding CNBC anchors greatly exaggerated

(Newser) - The “Money Honey” versus the “Street Sweetie” makes for great headlines, but reports of catfighting between CNBC anchors Maria Bartiromo and Erin Burnett are way overstated, Suzanna Andrews writes in Vanity Fair. “There is not a rivalry,” says Bartiromo, who suggests that the rumors may stem...

Street Shrugs Off Bailout OK
 Street Shrugs Off Bailout OK 
MARKETS
Oct 3, 2008 3:35 PM CDT

Street Shrugs Off Bailout OK

Markets rack up more losses despite bill's passage

(Newser) - Investors were feeling finicky today, pushing stocks higher by 300 points after the House approved the revised $700 billion bailout, then reversing the gains and moving the major indices to sharp weekly losses, MarketWatch says. The Dow dropped 157.15 to 10,325.70. The Nasdaq lost 29.33, finishing...

Playboy Woos Posers Who Lost Shirt on Wall St.

Magazine seeks to make best of bad news with 'Women of Wall Street' special

(Newser) - The bear market could create some new bunnies, Reuters reports, with Playboy seeking females from the financial world to pose for an upcoming "Women of Wall Street feature. The magazine—which ran "Women of Enron" and "Women of WorldCom" specials after those companies folded—says it is...

Bloomberg Wants Third Term
 Bloomberg Wants Third Term 
Sep 30, 2008 4:10 PM CDT

Bloomberg Wants Third Term

Mayor aims to change NYC's term-limits law

(Newser) - New York insiders say Mayor Michael Bloomberg will attempt to change existing laws and run for a third term, the Times reports, with his announcement to come Thursday. After long supporting term limits, Bloomberg, 66, has softened, with the financial crisis seen as a significant motivator. If successful, Bloomberg would...

How Much Is Main St. Willing to Suffer to Punish Wall St.?

The economic hole is deep, and 'we're all in it together': Pearlstein

(Newser) - If people understood how bad the financial situation is, there would be less hostility toward the bailout, writes Steven Pearlstein in the Washington Post. Americans haven't owned up to having helped create the credit bubble that is now deflating, and Wall Streeters haven't owned up to their "greed, arrogance,...

Senate to Tweak Bailout —But not Much

Dissenting Dems, GOP want different changes

(Newser) - Senators are scrambling to revive legislation for the financial bailout after its surprise failure in the House yesterday, but must strike the right balance to attract new House votes without driving away initial supporters, Bloomberg reports. House Republicans want an expanded role for the FDIC in the bailout and for...

How to Protect Your Money
 How to Protect Your Money 
Sep 30, 2008 2:56 AM CDT

How to Protect Your Money

Insured accounts best bet as Wall Street tumbles

(Newser) - After the biggest single-day's loss in Wall Street's history, even Americans whose sole investment is a bank account are nervously scratching their heads. Here are some guidelines to the failed-bailout crisis from the New York Times:
  • What happens next? The market's deep dive may scare Congress into passing the bailout
...

5 Reasons Pols Dissed the Bailout
 5 Reasons Pols
 Dissed the Bailout 
ANALYSIS
Sep 29, 2008 6:08 PM CDT

5 Reasons Pols Dissed the Bailout

A bad sell, partisan wrangling, and an urge to be reelected led to bill's downfall: Pershing

(Newser) - House members were only given a chance to salvage the world economy—why do it? There are several reasons why 95 Democrats and 133 Republicans turned down Henry Paulson's $700 billion bailout plan, Ben Pershing writes in the Washington Post. The simplest? “A lot of members just didn't like...

10 Films About Nasty Business
 10 Films About Nasty Business 
Sep 29, 2008 4:10 PM CDT

10 Films About Nasty Business

Hollywood takes a cynical approach to bankers

(Newser) - Wall Street executives have it tough these days, but Hollywood has rarely gone easy on guys in suits. USA Today lists 10 definitive films about them:
  • Stagecoach (1939): Like all John Ford movies, this one makes a banker look bad.
  • Splendor in the Grass (1961): A 1930s investor doesn't just
...

House Votes on Bailout Package Today

Compromise deal still faces rough fight

(Newser) - The House votes today on the nation's largest government bailout, followed by the Senate as soon as Wednesday, the Washington Post reports. The bipartisan compromise would grant Treasury Secretary Henry Paulson broad latitude to purchase assets at any price from any firm. Free-market Republicans have dropped their opposition, but the...

Debt Insurance Is What Crippled Wall St.
Debt Insurance Is What Crippled Wall St.
analysis
Sep 28, 2008 5:47 PM CDT

Debt Insurance Is What Crippled Wall St.

How credit-market swaps helped trigger the financial crisis

(Newser) - "Financial weapons of mass destruction,” Warren Buffet called them: credit default swaps. Pioneered by JP Morgan in the 1990s, these financial instruments were bought by banks as insurance that debts would be repaid. The innovation thrived until firms like AIG started defaulting on credit swaps that insured home...

Wolfe: Stars Went to Hedge Funds Long Ago

Tom Wolfe watches as the Masters of the Universe flee New York for Greenwich hedges

(Newser) - Tom Wolfe has been fielding a lot of questions about where the Wall Street crisis leaves the Masters of the Universe now, writes the author of the seminal book about the excesses of 1980s traders in the New York Times. But, he notes, the real investment banking superstars left for...

Dems, GOP Close In on Bailout Plan
Dems, GOP Close In on Bailout Plan
Sep 27, 2008 1:49 PM CDT

Dems, GOP Close In on Bailout Plan

Lawmakers haggle into wee hours, vow to unveil accord tomorrow

(Newser) - Lawmakers nearly pulled an all-nighter yesterday negotiating Henry Paulson's bailout plan and vowed to unveil it tomorrow, the New York Times reports. “Staff worked until 3am this morning on the bailout,” Senate majority leader Harry Reid said, and “they made significant progress.” But there are still...

House Republicans Return to Bailout Negotiations

Key concessions, and a desire to approve legislation, put talks back on track

(Newser) - After a dramatic exit yesterday, House Republicans returned to talks today on the Wall Street bailout plan, the Washington Post reports. The White House expressed confidence and hoped aloud for a resolution by Monday. Yesterday’s White House meeting, with both candidates, was seen as a misstep. “The insertion...

'What We Need Are a Few Public Hangings'
'What We Need Are a Few Public Hangings'
OPINION
Sep 26, 2008 1:26 PM CDT

'What We Need Are a Few Public Hangings'

String up some CEOs to satisfy the mob, and get on with a bailout

(Newser) - The masses are agitated, and so is Congress. How dare Henry Paulson ask for so much money to bail out those greedy Wall Street evil-doers? The truth, writes Charles Krauthammer, is that Paulson is a lame duck doing his best to save the economy, and that the crisis was mostly...

'Melodramatic' McCain Misfires
 'Melodramatic' McCain Misfires 
OPINION
Sep 25, 2008 3:42 PM CDT

'Melodramatic' McCain Misfires

Decisions to pull out shows McCain is "uncertain" campaigner: Klein

(Newser) - John McCain’s actions yesterday only add to the already-lengthy list of the candidate’s rash overreactions, Joe Klein writes in Time. But this one was particularly poorly thought out, because "the legislative crisis was already receding when he made his melodramatic—and somewhat wild-eyed—suspension of campaign activities...

Lawmakers: We Have a Deal
 Lawmakers: We Have a Deal 
UPDATED
Sep 25, 2008 12:57 PM CDT

Lawmakers: We Have a Deal

Dodd touts 'fundamental agreement' ahead of meeting with Bush

(Newser) - The bipartisan group of legislators working on either a Wall Street bailout or a rescue package has reached "a fundamental agreement on a set of principles," Senate Banking Committee Chris Dodd said today. Racing to make a deal before a scheduled 4pm meeting at the White House, the...

'Gordon Gekko': Wall Street Isn't Wall Street

Actor Douglas deflects questions about financial markets

(Newser) - Questions from reporters apparently confused by the fantasy-reality divide forced Michael Douglas to explain yesterday that he isn't actually the investment banker he played in 1987's Wall Street. Although he won an Oscar for portraying "greed is good" proponent Gordon Gekko, he's not an expert on the current financial...

White House Caves on Golden Parachutes

Paulson bows to pressure from lawmakers opposed to bailout paydays for CEOs

(Newser) - The White House bowed on a crucial change in the $700 billion bailout today ahead of a speech tonight in which President Bush hopes to pull loudly resistant lawmakers on board. Republican officials said Henry Paulson agreed to demands from critics in both parties to limit the “golden parachute”...

Bush Will Address Public Tonight on Bailout
Bush Will Address Public Tonight on Bailout
UPDATED
Sep 24, 2008 12:14 PM CDT

Bush Will Address Public Tonight on Bailout

President aims to give lawmakers push on $700B plan, garner support

(Newser) - President Bush will address the nation tonight on the proposed $700 billion Wall Street bailout, CNN reports, in hopes a televised speech could sway reticent lawmakers into quick action. The 9pm EDT speech will come after a second day of Treasury chief Henry Paulson and Federal Reserve chair Ben Bernanke...

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