Apocalypse Down Under: Aussie bank s write-offs signal doom for Wall … - Online Journal
Monday s trading on the New York Stock Exchange (NYSE) was a real humdinger. It started off with the White House announcing that this year s fiscal deficit would soar to a new record of nearly $500 billion. That was followed by news of rising oil …
MERRILL TRIMS TOXIC PAPER; STOCK JUMPS (New York Post)
Merrill Lynch’s shares enjoyed a big lift yesterday after its CEO John Thain announced plans to raise some $8.5 billion in debt and offload tens of billions in toxic mortgage debt. The troubled brokerage’s shares jumped nearly 8 percent, after…
Bush signs U.S. housing bill as Fannie Mae grows - Forbes
WASHINGTON (Reuters) - U.S. President George W. Bush on Wednesday signed into law a sweeping rescue package aimed at resurrecting the housing market from its worst slump since the Great Depression and stabilizing the two largest mortgage finance …
Loss-hit Merrill dumps mortgage debt, raises new capital (AFP via Yahoo! News)
Wall Street titan Merrill Lynch announced it was dumping billions of dollars of mortgage debt at a steep loss and raising 8.5 billion in new capital, as the US housing crisis continued to devastate the country’s banking sector.