Jun 16 Watch Lehman Reports $3 Billion in Losses Due to Bad Mortgage Investments Lehman Brothers chief Richard Fuld took responsibility Monday for a staggering $3 billion in losses in the second quarter, saying the company was too slow to react to the unfolding credit and mortgage crisis. Roben Farzad of BusinessWeek magazine outlines… Continue watching
Nov 05 Watch Citigroup Faces Fallout from Subprime Market Citigroup, the nation's largest bank, faces both a downgraded credit rating and the resignation of CEO Charles Prince. A business journalist describes the company's struggles. Continue watching
Oct 30 Watch Record Loss, Mortgage Crisis Spur Merrill CEO’s Exit The chief executive officer of brokerage giant Merrill Lynch, Stanley O'Neal, stepped down Tuesday after the company posted a record quarterly loss and questions arose over decisions to invest in the troubled mortgage market. Analysts discuss O'Neal's downfall and what… Continue watching
Sep 17 Former Merrill Lynch Executives Indicted in Enron Fraud Probe Three former Merrill Lynch executives surrendered to federal authorities in Houston Wednesday to face criminal charges involving a 1999 transaction that enabled Enron Corp. to deceive its investors and artificially inflate its earnings reports. Continue reading
Dec 20 Wall St. Firms to Pay $1.4 Billion in Settlement With Regulators Ten of Wall Street's largest firms on Friday agreed to pay $1.4 billion to settle allegations by state and federal regulators that they provided misleading stock advice to investors for the benefit of corporate investment banking clients. Continue reading