Bear Stearns’ Jimmy Cayne has taken the money and run, writes Glenn Dyer.
Subprime mortgages
Crunch! Central banks move to save the planet
Central bankers are very careful people: conservative, stable and above all, realistic. So when they make a move looks like a gamble, you know you should be very worried, writes Glenn Dyer.
Even cash accounts falling victim to US subprime mess
Just as Wall Street had its biggest rise in two months, another nasty from the subprime mess is emerging that could cause more headaches for America’s financial groups, large and small, writes Glenn Dyer.
ETrade teeters as subprime doom and gloom spreads
Another cascade of depressing news as more and more financial and other groups are caught up in the imploding US subprime mortgage and housing sectors, writes Glenn Dyer.
Bernanke warns of darkening days to come
Inflation is on the rise, the subprime mess will worsen, along with the housing crunch, and the losses and damage from both will be worse than anyone expects. A US recession? Don’t want to say. Glenn Dyer reports.
US financial crisis: There’ll be more ouch
Once again the pressure is rising on world financial markets, especially banks and brokerages in the US as reports of losses and warnings about the intensifying pain from the subprime mortgage crisis continue to grow, reports Glenn Dyer.
US and Euro banks slump, Aussie banks strong
Citigroup and its CEO, Chuck Prince, are parting company after an agreed deal ahead of a board meeting in New York a few hours ago, a week after Stan O’Neal and the board of Merrill Lynch parted company with Stan walking with $US160 million, writes Glenn Dyer.
Was Peter Costello right on the banks?
The Federal Treasurer got into the banks last week for thinking of lifting interest rates above any move from the Reserve Bank. But was there some truth in what Costello had to say about the banks and their reaction to the subprime mess in the US and associated credit freeze which have pushed up rates?
Oil hits new highs on struggling greenback
A falling US dollar has driven oil above $US90 a barrel in after hours trading in Asia this morning, the first time it has reached that level, reports Glenn Dyer.
The global cost of the subprime crisis continues to rise
The cost of the subprime crisis continues to mount around the world, not just on Wall Street. To date, the total cost stands at around $US50 billion and rising, writes Glenn Dyer.
RBA: Big banks set to cash in on credit squeeze
The Reserve Bank has endorsed the idea that our big banks will be the winners from the recent instability in credit markets.
Bank America and ETrade join the subprime hit list
Bank America has warned that third quarter earnings will take a hit from the impact of the subprime mess and online trading company, ETrade, says earnings would slump 25% in the current quarter due to the costs of exiting the wholesale mortgage lending business.
Morning Market Report
The highlights and lowlights of this morning’s sharemarket activity.
Subprime mess brings more US job losses
The job losses from America’s subprime mortgage mess continue to mount with another 3,700 people being fired today.
Markets fragile as hard heads turn to cash
The AFR couldn’t have been more wrong with its headline today: ”Markets roar back as investors cheer Fed action”. The paper should have had something life: “Relief rally sees markets bounce”, because the cheering got awfully muted in the US as the casualty list continued to grow in financial markets.
Ratings agencies investigated over subprime mess
The role of credit rating agencies like Moody’s, Standard & Poor’s and Fitch in the subprime mortgage mess is going to be investigated by the European Commission, writes Glenn Dyer.
The subprime crisis hits Europe
Anyone who thought the subprime mortgage crisis was a problem for the markets and moneymen who created the mess, had that bit of sophistry destroyed last night when European money markets nearly froze. Glenn Dyer reports.
Morning Market Report
The highlights and lowlights of this morning’s sharemarket activity.
Macquarie Fortress besieged by subprime problems
If you’d woken up on Monday morning and wondered, “what will we see in the financial markets this week, more subprime problems?” you’d have been right, writes Glenn Dyer.
The US credit crunch bites, markets fall
For months the likes of Citigroup, Merrill Lynch, US Treasury Secretary Hank Paulson (ex Goldman Sachs) and any number of shrills for the bulge bracket banks on Wall Street have been telling investors that the subprime mortgage market bust would not have a wider impact.
Wesfarmers is still Coles’ best option
There’s been speculation for weeks that the Wesfarmers-Coles deal might topple. I think the opposite is true, writes retails commentator Rob Lake.
In the US the subprime sky is falling … here too?
Slowly but surely a credit crunch is creeping up on us, driven by the spiralling collapse of the subprime mortgage market and associated credit derivatives in the US.
