Highlights
A collection of news and information related to Merrill Lynch & Company Inc. published by Tribune Company sources.
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Sticking to banking basics yields golden opportunity for Wells Fargo to expand
AP Business WriterSAN FRANCISCO (AP) _ With its iconic stagecoach, Wells Fargo & Co. has evoked images of the wild West throughout its 156-year history. Now it's finally expanding east of the Mississippi with a $12.2 billion acquisition of Wachovia Corp., a golden...Tags: Banking, J.P. Morgan Chase & Co., Charlotte, Countrywide Financial Corp., Credit Ratings
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Wells Fargo is Wachovia victor
Associated PressWells Fargo emerged as the apparent victor in the battle for control of Wachovia bank Thursday night, after rival suitor Citigroup broke off talks with Wells Fargo and federal regulators but vowed to have its day in court. While Citigroup said it plans...Tags: Internal Revenue Service, Court Administration, Corporate Crime, J.P. Morgan Chase & Co., Charlotte
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Pricing for Lehman debt provides guidance on potential bank losses tied to credit swaps
AP Business WriterNEW YORK (AP) _ Sellers of insurance on bonds issued by bankrupt Lehman Brothers Holdings Inc. are now likely to face demands that they pay out more than 91 cents on the dollar to buyers of those insurance contracts. That's the upshot of an unusual...Tags: Auction Service, Christopher Cox, Lehman Brothers Holdings Incorporated, Federal Reserve, Credit and Debt
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Concerns grow over AIG's health after insurer receives additional $37.8B loan
AP Business WritersNEW YORK (AP) _ Concerns about the health of American International Group Inc. were renewed Thursday, a day after the insurance giant said it would receive an additional $37.8 billion loan from the Federal Reserve. "The bottom line is, they need more...Tags: Securities, Lehman Brothers Holdings Incorporated, Federal Reserve, Loans, Bank of America Corp.
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Fed grants AIG $37.8 billion loan besides one made last month to giant insurer
AP Business WriterCHARLOTTE, N.C. (AP) _ The Federal Reserve on Wednesday agreed to provide insurance giant American International Group Inc. with a loan of up to $37.8 billion, on top of one made to the troubled company last month. Under the new program, the Federal...Tags: Securities, Lehman Brothers Holdings Incorporated, Federal Reserve, Loans, Bank of America Corp.
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Fed OKs more loan money for AIG -- $37.8 billion
Of The Associated PressThe Federal Reserve on Wednesday agreed to provide insurance giant American International Group Inc. with a loan of up to $37.8 billion -- on top of one made to the troubled company last month. Under the new program, the Federal Reserve Bank of New...Tags: Securities, Lehman Brothers Holdings Incorporated, Federal Reserve, Loans, Bank of America Corp.
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Bank of America, Royal Bank of Canada to bail out holders of auction-rate securities
FINANCE More banks to buy back securities Bank of America Corp. and Royal Bank of Canada will bail out customers stuck with $10.3 billion in auction-rate securities and pay fines to settle state and federal claims that they misled investors in selling...Tags: Health Organizations, Broadcom Corp., Securities, Trials, Qualcomm Inc.
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Bank of America, RBC agree to buy back auction-rate securities in SEC, state settlements
AP Business WriterWASHINGTON (AP) _ Bank of America Corp. has agreed to buy back up to $4.7 billion in auction-rate securities to settle charges it misled thousands of customers about the risky investments, federal and state regulators said Wednesday. The regulators...Tags: Banking, Securities, Investments, J.P. Morgan Chase & Co., Auction Service
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Stocks plunge as House rejects bailout package
Stocks plunged yesterday with the Dow Jones industrial average falling nearly 780 points - the biggest one-day point drop ever - after federal lawmakers failed to pass a $700 billion plan to bail out the financial system.
The vote by the House of...Tags: Lower House, Legg Mason, Inc., Lehman Brothers Holdings Incorporated, Stocks, Personal Finance
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Nice bailout. Now what else you got?
MARKET BEATWith Uncle Sam now about to make good on a $700-billion bailout for the financial system, Wall Street on Friday looked like an ungrateful child. The stock market began to slide soon after the House approved the bailout bill, and most major market indexes...Tags: Real Estate Buyers, Money and Monetary Policy, Banking, Fannie Mae, Consumer Confidence
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Government's bailout path a maze of unknowns
Los Angeles Times Staff WritersNow comes the hard part. With congressional passage of the bailout bill Friday, the financial industry's focus will shift to the mechanics of the deal: How exactly does the government plan to spend up to $700 billion to buy troubled loans from banks?...Tags: Economic Policy, Securities, Finance, Ben Bernanke, Countrywide Financial Corp.
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AIG to sell off business units but retain US property and casualty
AP Business WritersCHARLOTTE, N.C. (AP) _ The insurer American International Group Inc. said Friday it plans to sell off a number of business units to pay off its massive government loan. The announcement was expected by Wall Street. But it now leaves investors wondering...Tags: Property-Casualty Insurance, Securities, Lehman Brothers Holdings Incorporated, Loans, Berkshire Hathaway Incorporated
Oct 10, 2008
|Story| Associated Press
Oct 10, 2008
|Story| Baltimore Sun
Oct 10, 2008
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Oct 9, 2008
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Oct 8, 2008
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Oct 9, 2008
|Story| Allentown Morning Call
Oct 9, 2008
|Story| Los Angeles Times
Oct 8, 2008
|Story| Associated Press
Sep 30, 2008
|Story| Baltimore Sun
Oct 4, 2008
|Column| Los Angeles Times
Oct 4, 2008
|Story| Los Angeles Times
Oct 4, 2008
|Story| Associated Press
