ALBANY, N.Y. (AP) — New York’s highest court has ruled that Bear Stearns Cos. is responsible for paying most of an $80 million settlement with securities regulators in 2002, clearing the investment’s bank’s insurers from liability in the case.The state Court of Appeals concluded the investment bank’s insurers were not liable for covering $45 million [...]
CARMEL, Ind. (AP) — Insurance company Conseco Inc. on Monday reported a preliminary fourth-quarter loss after paying preferred dividends of $72.2 million, or 39 cents per share, and warned the results could change.Conseco - which is currently reviewing its accounting - did not provide year-ago financials as it plans to restate its annual results [...]
WASHINGTON (AP) — President Bush, trying to calm turmoil in financial markets, said Monday that his administration is on top of the situation in dealing with the slumping economy.One thing is for certain, we’re in challenging times, the president said after meeting with Treasury Secretary Henry Paulson and other senior economic advisers. But another [...]
Bear Stearns May Lose Independence After Fed Bailout (Update4)
By Yalman Onaran
March 15 (Bloomberg) — Bear Stearns Cos.s 85 years as an
independent Wall Street firm may be coming to an end as JPMorgan
Chase %26amp; Co. considers buying the crippled company.
[...]
Joseph Lewis May Have Lost $850 Million on Bear Stake
By Katherine Burton and Yalman Onaran
March 15 (Bloomberg) — Joseph Lewis, the second-largest
shareholder of Bear Stearns Cos., may have lost $850 million
yesterday after the securities firm took emergency funding from
the New [...]
Bear Cash Shortfall Triggered by Lenders and Clients, SEC Says
By Jesse Westbrook
March 15 (Bloomberg) — Bear Stearns Cos. cash shortfall
began March 11 after rumors spread that the second-biggest
underwriter of U.S. mortgage bonds lacked sufficient access to
capital, and lenders and clients [...]
Woolf and Gengler also were featured in Teach Me to Trade infomercials. In one, Gengler explains how he doubled a $10,000 investment in one week as the studio audience oohs and aahs.
“Luck has absolutely nothing to do with this,” Gengler tells the audience. “This is simply a system. If you can follow the [...]
Fannie Mae, Global Crossing, Neutral Tandem: U.S. Equity Movers
By Fabio Alves
March 13 (Bloomberg) — The following is a list of companies
whose shares had unusual price changes in U.S. markets. Stock
symbols are in parentheses after company names, and prices are as
of [...]
Lewis May Have Lost $850 Million on His Bear Stearns Stake
By Katherine Burton and Yalman Onaran
March 14 (Bloomberg) — Joseph Lewis, the second-largest
shareholder of Bear Stearns Cos., may have lost $850 million
today after the securities firm took emergency funding from [...]
Fed Invokes Little-Used Authority to Aid Bear Stearns (Update4)
By Scott Lanman
March 14 (Bloomberg) — Federal Reserve Chairman Ben S.
Bernanke invoked a law last used four decades ago to keep Bear
Stearns Cos. from collapsing after the securities firm sought
emergency funding from [...]
