Post Tagged with: "financial statements"
Articles: Bank Writedowns & Failures
I am now updating the information on my Credit Crisis Timeline here: http://www.creditwritedowns.com/credit-crisis-timeline There have been a tremendous number of economic dislocations during the present financial crisis. Initially written off as a sub-prime crisis, leading policy makers said the crisis was contained. It has since spilled over into Jumbo mortgage rates, Collateralized Debt Obligations (CDOs),
Global Bank write-offs and failures
Since the housing bubble created a global credit crunch in June 2007 after Bear Stearns announced the collapse of two funds it ran (its High-Grade Structured Credit Fund and its High Grade Structured Credit Enhanced Leveraged Fund), there have been a massive number of announced write-offs and bank failures. As a result, a number of
Bank bankruptcy or bailout?
Update: Also see my list of Bankrupt global financial institutions. Recently, the pace of writedowns by major money center banks has increased. UBS announced today it wrote down $19 billion. Deutsche Bank announced today it wrote down $4 billion. Lehman Brothers was forced to raise over $4 billion in equity capital. Merrill Lynch and Citigroup
Bear Stearns collapses
The credit bubble has claimed its first major finance company: Bear Stearns. The venerable firm, which traded as high as $160 in 2007 and was trading above $60 just last week, was bought for a mere $2 per share by rival JP Morgan Chase and Co. From my point of view, this is the first