Way back in February, Daniel Mudd spoke to the Homebuilders Association and assured them that his company was doing all it could to weather the storm, including cutting the corporate dividend (and it also quit paying his $100,000 annual tab for his country club). He also talked about the effort which the company made [...]

On news that Lehman Brothers’ discussions with a Korean Bank (for a cash infusion/takeover) had faltered, the shares of that venerable Wall Street firm have sunk to new lows.
“The nation’s fourth-largest investment bank had hoped to secure a deal with the Korean [government controlled] fund before announcing third-quarter earnings on Sept. 18. Lehman is facing [...]

One more interesting thing about the government’s takeover of Freddie and Fannie is that it flys in the face of the “happy talk “ which has been coming out of Washinton. Here is a quote from an article from July 16 of this year:
“Federal Reserve Chairman Ben Bernanke told Congress Wednesday that troubled mortgage [...]

In the case of Milavetz, Gallop & Milavetz, et al. v. The United States of America, the Eighth Circuit Court of Appeals has ruled that a provision of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act violates the free speech rights of lawyers, stating the provision “prevents attorneys from fulfilling their duty to clients [...]

“Uncle Sam has just become the 800 pound gorilla in the U.S. mortgage market. The Bush administration’s announced Sunday it was seizing troubled mortgage giants Fannie Mae (FNM) and Freddie Mac (FRE) in a bid to help reverse a prolonged housing and credit crisis.
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Officials announced that both Fannie Mae and Freddie Mac were being placed [...]

Since the Federal Reserve has been responding to the credit crisis by adding more and more money to the money supply, the total amount of funds loaned to banks by the central banks has increased greatly. Here is a recent article which reports that banks have averaged just under 19 billion in daily loans [...]

Here is a link to an article which summarizes the latest business news. First up, indicted bankers – it is interesting to see prosecutors now deriding CDO’s, when not too long ago, the public was being told that they were the next big thing in banking (which they were, just the next big bad [...]

As you no doubt know, insiders who sell, or buy, stock must disclose that information. Subsequently, said purchase or sale is made public. Here is an article discussing the insiders’ sales of McDonald’s Corporation’s stock.
“Conventional wisdom says McDonald’s should continue to have great success as the economy slows and consumers trade down restaurants [...]