Lehman get $6 billion in capital to stay afloat.$2.8 billion lost in the second quarter while hedges, especially commercial mortgage related position
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For a while it looked like JP Morgan had escaped the worst effects of the credit crash but hat first quarter profit fell by half
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Accessible article explaining Barclays claim that Bear Stearns covered up losses and tried to use the Everquest IPO to dump dodgy CDO's
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Ambac has confirmed a $1.5bn plan to preserve its AAA credit rating
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Citigroup reports reports its first quarterly loss since 1998. reveals writedowns due to subprime losses of $18.1 billion.
CEO Vikram Pandit said " read more »
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bank of America confirmed it will buy Countrywide for $4 billion in an all-stock transaction.
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Largest downgrade of US companies to junk since 2003. Predicts rise in US company bond defaults to 4.7 percent in 2008.
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Bargain! Real estate unit not included in the deal GE take corporate finance,equipment,finance,franchise,energy and healthcare finance units.
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Credit crash is a social news site for the credit markets
Nothing surprising here, plenty more losses to come for financials....Ambac covers $556bn in municipal and asset-backed securities, hardly...I always check credit ratings before I make a decision...This won't tackle the lack of deals or reluctance of lenders to refinance...At least Bernanke was clear about what they believed - even if they're...Fed sees more risk to the downside BUT doesn't realize that there's enough...Writedowns are MORE than $18 billion. In the release they reveal U.S....Dont see how they were all owned by the "elites", anyway dont...