Advertising - Marketing Online and Print

Germany Drafts Plan to Shield Banking Sector
posted on October 06, 2008 11:00:00 pm
BERLIN, Oct. 6 -- German lawmakers said Monday that they were drawing up a massive intervention plan to protect the country's financial system as Europe's biggest economy braced for the possibility of more bank failures.

Global Stocks Sink as Crisis Spirals; Countries Struggle to Stem Losses
posted on October 06, 2008 11:00:00 pm
With financial markets in near-meltdown, governments around the world scrambled to find new ways to infuse vast amounts of cash into banks and even directly to companies to help resuscitate the global financial system.

Unfolding Worldwide Turmoil Could Reverse Years of Prosperity
posted on October 06, 2008 11:00:00 pm
What went wrong?

A Nightmare for Sales of Dream Cars
posted on October 06, 2008 11:00:00 pm
Robert Bassam, used-car magnate, isn't driving his $415,000 Lamborghini these days, or his Porsche, and he has even warehoused his usual get-around-town car, a BMW 750. Instead, he's puttering along in a four-cylinder Hyundai Accent hatchback. It's more politically correct, he said. And economically correct: He doesn't feel like riding in luxury when the economy is tanking.

Crisis Is Putting Brakes on Russia's Construction Boom
posted on October 06, 2008 11:00:00 pm
MOSCOW, Oct. 6 -- Less than a year ago, one of Russia's wealthiest tycoons, along with the nation's powerful railways chief and the mayor of Moscow, unveiled plans to build a glittering new neighborhood of apartment towers, skyscrapers, schools, parks and shopping malls on a vast stretch of the city's west side.

Indians Cling To Old Ways Of Banking
posted on October 06, 2008 11:00:00 pm
NEW DELHI -- Clutching a bunch of bank papers, Lakshmi Rajgopal squeezed through a narrow gated entrance and walked past a long line of customers jostling at the cashier's window. Some were complaining about the slow service, their voices muffled by the whir and creak of old printers.

Whose Health Plan?
posted on October 06, 2008 11:00:00 pm
The month before a presidential election isn't the best time for reasoned debate about complicated policy. Here goes, anyway.

Wachovia, Suitors Agree to Truce
posted on October 06, 2008 11:00:00 pm
Wachovia, Wells Fargo and Citigroup have suspended their courtroom squabbles until noon tomorrow to try to negotiate a settlement of Wachovia's future.

Capitol Grilling for Lehman CEO
posted on October 06, 2008 11:00:00 pm
Former Lehman Brothers chief executive Richard S. Fuld Jr. told a skeptical House committee yesterday that he tried various ways to save the 158-year-old investment banking firm, including making a plea for help to federal regulators, but in the end was "overwhelmed" by events.

U.S. Shares Sink Despite Late Rally
posted on October 06, 2008 11:00:00 pm
NEW YORK, Oct. 6 -- The Dow Jones industrial average tumbled along with stock markets around the world Monday, raising fears of a cascading market meltdown as oil prices sank and investors rushed for the safety of government bonds and gold.

World's Stock Markets Plunge
posted on October 06, 2008 11:00:00 pm
LONDON, Oct. 6 -- World stock markets suffered one of their worst days ever Monday amid fears that government responses to the global financial crisis, including the U.S. bailout and inconsistent moves by European leaders, would not be sufficient to prevent a worldwide recession.

With Bubbles Popping Worldwide, No Wonder the Economy's Gone Flat
posted on October 06, 2008 11:00:00 pm
Up to now, it's been a financial crisis. This is a meltdown -- an uncontrolled and largely uncontrollable financial chain reaction that threatens serious harm to the broader economy.

Bank of America To Modify Mortgages From Countrywide
posted on October 06, 2008 11:00:00 pm
Bank of America has agreed to rework the terms of up to 400,000 distressed mortgages nationwide starting Dec. 1 to settle lawsuits and investigations pending against one of its subsidiaries.

Lehman sought millions for execs while seeking aid
posted on October 06, 2008 09:44:46 pm
WASHINGTON -- The now-bankrupt investment bank Lehman Brothers arranged millions in bonuses for fired executives as it pleaded for a federal lifeline, lawmakers learned Monday, as Congress began investigating what went so wrong on Wall Street to prompt a $700 billion government bailout.

Rescue plan disappointment contributes to sell-off
posted on October 06, 2008 09:32:14 pm
WASHINGTON -- The government's $700 billion rescue, aimed at rebuilding economic confidence, appeared to sound a global alarm instead on Monday, triggering a fearful international sell-off as the U.S. began work on a plan that investors feared would be too little and too late to stave off a worldwide recession.

Palin character attack on Obama may hurt McCain
posted on October 06, 2008 09:25:20 pm
WASHINGTON -- John McCain is once again trying to dress the political wound that never heals: his role in a 1980s banking scandal that is featured in a new Barack Obama attack video.

Panic over financial system knocks Asia stocks
posted on October 06, 2008 09:02:29 pm
HONG KONG (Reuters) - Panic about how the U.S. and European governments have not yet found a solution to the plague sweeping through the global financial system hit Asian stocks again on Tuesday and lifted gold prices.

Europe governments go their own way on crisis
posted on October 06, 2008 08:05:51 pm
LONDON -- Individual European governments issued a flurry of deposit guarantees to shore up their banks but fell short of any coordinated action Monday to deal with the crisis sweeping financial markets, even as stock markets crashed and the euro sank to its lowest level for over a year.

Bank savers run at the click of a mouse
posted on October 06, 2008 07:27:53 pm
AMSTERDAM/LONDON (Reuters) - What if there were a run on a bank and no one knew?

Dow finishes below 10,000 for first time since '04
posted on October 06, 2008 07:26:56 pm
NEW YORK -- Wall Street joined in a worldwide cascade of despair Monday over the financial crisis, driving the Dow Jones industrials to their biggest loss ever during a trading day. Even a big afternoon rally failed to keep the Dow from its first close below 10,000 since 2004.

SEC sues Democrat fundraiser for alleged $60M scam
posted on October 06, 2008 07:04:57 pm
SAN FRANCISCO -- Federal regulators on Monday sued political fundraiser Norman Hsu for allegedly operating a $60 million investment scam and using some proceeds to contribute to Sen. Hillary Rodham Clinton and other prominent Democrats.

Europe strives to combat financial crisis in unison
posted on October 06, 2008 06:46:47 pm
PARIS/LUXEMBOURG (Reuters) - European governments struggled on Monday to shelter banks and bank depositors from a global financial crisis that is eroding confidence, endangering the economy and challenging their ability to respond as one.

ECB, euro nations try to soothe volatile markets
posted on October 06, 2008 06:46:46 pm
LUXEMBOURG -- European Central Bank President Jean-Claude Trichet called Monday for calm in the continent's jittery markets, saying they are overestimating risks and the euro-zone central bank stood ready to provide all the liquidity needed for as long as necessary.

Bank of America reports profit drop, capital raise
posted on October 06, 2008 06:42:03 pm
NEW YORK -- Bank of America Corp. on Monday reported third-quarter results earlier than planned, revealing a wider-than-expected profit drop and plans to boost capital by selling $10 billion stock and halving its dividend.

BlackRock, big funds seen winning U.S. bailout job
posted on October 06, 2008 06:37:08 pm
BOSTON (Reuters) - Large U.S. asset managers with strong fixed-income records, such as BlackRock Inc (BLK.N), PIMCO and Trust Company of the West, are seen as favored to oversee the U.S. government's $700 billion financial rescue fund.

Tax rule change may spur bank deals, experts say
posted on October 06, 2008 06:07:50 pm
NEW YORK (Reuters) - A recent change in U.S. tax rules that determine how a buyer treats a target bank's losses on loans and bad debts could spur more deals in the troubled sector.

Lehman's Fuld: Where was our bailout?
posted on October 06, 2008 05:49:20 pm
WASHINGTON (Reuters) - Richard Fuld, the disgraced head of Lehman Brothers (LEHMQ.PK), said he would wonder "until they put me in the ground" why the U.S. government did not rescue the 158-year-old Wall Street firm and claimed regulators knew the full scale of its condition far before its collapse.

Wachovia, Citi, Wells Fargo to halt litigation
posted on October 06, 2008 05:43:36 pm
NEW YORK/WASHINGTON (Reuters) - Wells Fargo & Co and Citigroup Inc agreed on Monday to a 44-hour truce in their fight over regional bank Wachovia Corp after a weekend of legal wrangling.

Credit markets still tight as stocks plunge
posted on October 06, 2008 05:23:45 pm
NEW YORK -- The jammed credit markets barely budged Monday as governments around the world scrambled to prop up their failing banks and investors waited for details on how, exactly, the Treasury will go about buying $700 billion of U.S. banks' mortgage assets.

Commodities prices drop as credit crisis spreads
posted on October 06, 2008 05:21:30 pm
NEW YORK -- Commodities prices tumbled broadly Monday on growing expectations that the financial crisis pummeling world markets will dramatically reduce global demand for energy and raw materials. Gold prices shot up as investors' faith in stock markets dimmed further, touching off a desperate dash for safe alternative investments.

Dow dives below 10,000 on credit, recession fears
posted on October 06, 2008 05:09:50 pm
NEW YORK (Reuters) - Stocks slid for a fourth straight day on Monday, leaving the Dow below 10,000 for the first time in four years, on fears the global economy was hurtling into recession despite government efforts to contain the fast-spreading financial crisis.

World stock markets plunge on crisis fears
posted on October 06, 2008 05:05:26 pm
LONDON -- Stock markets slumped worldwide Monday, some marking record one-day drops, on fears the global financial crisis will worsen and hit the wider economy despite bank bailouts in the U.S. and Europe.

Wachovia, Citigroup, Wells agree to standstill
posted on October 06, 2008 04:41:03 pm
NEW YORK -- Wachovia, Citigroup and Wells Fargo on Monday agreed to a standstill of all formal litigation activity _ a sign that the banks and the Federal Reserve are working feverishly to reach an agreement over the fate of Wachovia.

FDIC working to bolster fund for more bank failures
posted on October 06, 2008 02:08:22 pm
WASHINGTON (Reuters) - Banking regulators are working aggressively to implement higher deposit insurance limits and to ensure that there will be sufficient reserves to cover losses from more bank failures, the chairman of the Federal Deposit Insurance Corp said on Monday.

Fed to provide as much as $900B in loans to banks
posted on October 06, 2008 01:50:00 pm
WASHINGTON -- The Federal Reserve will provide as much as $900 billion in cash loans to squeezed banks in an urgent effort Monday to break through a dangerous credit clog that threatens the economy and has unhinged financial markets around the globe.

U.S. Stocks Sink As Financial Fear Spreads
posted on October 06, 2008 01:30:00 pm
U.S. stocks plummeted in morning trading today as investors began to fear that a bailout of the financial sector would not be enough to prevent a global recession and Europe continued to grapple with a stabilization of its banking sector.

Officials pledge to move quickly on rescue
posted on October 06, 2008 01:28:34 pm
WASHINGTON -- The Treasury Department moved swiftly Monday to implement the financial rescue package, naming a former Goldman Sachs executive to oversee spending the $700 billion earmarked for the plan and pledging to work with other countries to calm global financial markets.

Bank of America settles suits over bad mortgages
posted on October 06, 2008 11:49:07 am
SPRINGFIELD, Ill. -- Facing a lawsuit over deceptive mortgage practices, Bank of America Corp. is agreeing to pay more than $8 billion to modify hundreds of thousands of loans to keep people from losing their homes.

Bush the Gambler
posted on October 06, 2008 11:30:00 am
It's too early to say how much success President Bush's $700 billion bailout will have in restoring stability to the financial markets. (So far, not so good.)

Allianz investing $2.5B in Hartford Financial
posted on October 06, 2008 09:21:14 am
CHARLOTTE, N.C. -- Hartford Financial Services Group Inc. said Monday it will receive a $2.5 billion investment from Allianz SE.

McCain, Obama on the issues
posted on October 06, 2008 09:21:03 am
-- A look at where Democrat Barack Obama and Republican John McCain stand on a selection of issues:

The Press, a Few Dollars Short
posted on October 06, 2008 09:16:00 am
Charlie Gasparino was so anxious to get on the air that he phoned in to CNBC, rather than walking to the studio, to report that nervous federal authorities were considering a bailout of the insurance giant AIG.

Libor reflects money market freeze; policy response eyed
posted on October 06, 2008 07:29:47 am
LONDON (Reuters) - A slight fall in London interbank offered rates for three-month dollars on Monday offered a faint glimmer of hope that money market strains might be easing, but conditions remained poor and lending virtually non-existent across all maturities.

BNP Paribas to take majority stake in Fortis
posted on October 06, 2008 06:54:30 am
BRUSSELS, Belgium -- Officials of troubled Belgian bank Fortis NV acknowledged Monday they had no choice but to seek a buyout by another bank because of the increasing problems the company suffered due to the global financial credit crisis.

Unicredit's Profumo acknowledges errors
posted on October 06, 2008 06:52:28 am
MILAN, Italy -- Unicredit Chief Executive Alessandro Profumo acknowledged Monday that Italy's largest bank had underestimated the significant market changes since the collapse of the U.S. investment bank Lehman Brothers, forcing the board to seek a capital increase and cut profit forecasts.

Court tilts Wachovia fight toward Wells Fargo
posted on October 06, 2008 06:44:51 am
NEW YORK -- The battle for control of troubled bank Wachovia tilted toward Wells Fargo Sunday as a state appeals court blocked a lower court ruling that had favored rival bidder Citigroup.

Credit crisis adds to pressures on auto dealers
posted on October 06, 2008 06:09:52 am
NEW YORK -- Hundreds of thousands of new cars and trucks that would have quickly made their way to people's driveways a year ago are now stacking up on dealer lots across the country, with potential buyers worried about whether they'll keep their jobs, be able to pay for gas, or qualify for a car loan.

European, Asian markets plunge on crisis fears
posted on October 06, 2008 06:02:14 am
LONDON -- Asian and European stock markets plunged Monday as government bank bailouts in the U.S. and Europe failed to alleviate fears that the global financial crisis would depress world economic growth.

Chinese insurer to record $2.3B loss on Fortis
posted on October 06, 2008 06:00:12 am
BEIJING -- China's Ping An Insurance Co. said Monday it will record a $2.3 billion loss on its stake in troubled European bank Fortis NV, in the biggest blow yet to a Chinese institution from the global credit crisis.

BNP Paribas scoops up Fortis assets in credit crunch
posted on October 06, 2008 04:32:14 am
PARIS/BRUSSELS (Reuters) - BNP Paribas agreed to scoop up assets in Belgium and Luxembourg of banking and insurance group Fortis for 14.5 billion euros ($20.1 billion) to become the euro zone's biggest deposit bank.

German gov't, banks agree to $69B bailout for Hypo
posted on October 06, 2008 02:43:40 am
BERLIN -- Germany on Sunday guaranteed all private bank accounts and negotiated a 50 billion euro ($69 billion) bailout deal for Hypo Real Estate AG as Europe's second largest economy sought to ward off financial crisis.

Oil falls below $92 as financial turmoil spreads
posted on October 06, 2008 01:55:14 am
SINGAPORE -- Oil prices fell below $92 a barrel on Monday in Asia on fears a U.S.-led financial crisis is spreading across the globe, exacerbating an economic slowdown that will cut crude demand.

Money market squeeze eases but fears persist
posted on October 06, 2008 01:28:01 am
SINGAPORE (Reuters) - A squeeze on dollar funding has eased in Asia after massive cash injections by central banks, but reluctance to lend to South Korean banks underscored jitters about the global economic outlook despite the U.S. Congress having approved a $700 billion rescue plan.

Chinese insurer to record $2.3B loss on Fortis
posted on October 06, 2008 01:26:30 am
BEIJING -- China's Ping An Insurance Co. said Monday it will record a $2.3 billion loss on its stake in troubled European bank Fortis NV, in the biggest blow yet to a Chinese institution from the global credit crisis.

Asia stocks tumble as crisis intensifies
posted on October 06, 2008 12:44:00 am
HONG KONG (Reuters) - Asian stocks fell 2-3 percent on Monday, led by shares of exporters, after a hectic weekend in Europe as the financial crisis gathered steam there, knocking the euro to the lowest in a year.

Bank of America Settles Lawsuit Over Bad Mortgages
posted on October 06, 2008 12:00:13 am
SPRINGFIELD, Ill. -- Facing a lawsuit over deceptive mortgage practices, a Bank of America Corp. subsidiary has agreed to modify tens of thousands of loans to keep people in 11 states from losing their homes, the Illinois attorney general's office said Sunday.

Battered financial industry faces more oversight
posted on October 05, 2008 11:47:35 pm
WASHINGTON -- With the passage of the $700 billion rescue package, the financial industry will face greater congressional scrutiny in coming weeks and months.

Fed moves to broker deal for Wachovia: sources
posted on October 05, 2008 11:24:44 pm
WASHINGTON/NEW YORK (Reuters) - The U.S. Federal Reserve is brokering discussions between Wells Fargo & Co and Citigroup Inc over which of the banks will buy Wachovia Corp's assets, people familiar with the matter said on Sunday.

9 Sites to Help You Survive the Recession
posted on October 05, 2008 11:19:06 pm
We found numerous sites that are full of good advice on how to save money and protect your financial interests. In a sour economy, sites like these are getting more attention (and site traffic) than ever before.

As Suitors Fight Over Wachovia, Fed Tries for Deal
posted on October 05, 2008 11:00:00 pm
A high-stakes battle over who will gain control of the nation's fourth-largest bank intensified over the weekend, with the Federal Reserve acting as a go-between in the pursuit of Wachovia by both Citigroup and Wells Fargo.

Feeling the Pain As Irish Property Values Plummet
posted on October 05, 2008 11:00:00 pm
SUTTON, Ireland -- Denis Finn spent about $4 million on a grand house in this pretty seaside town north of Dublin three years ago, but it was the mansion's grassy grounds where he saw the real money to be made.

Germany to Guarantee Private Bank Accounts
posted on October 05, 2008 11:00:00 pm
BERLIN, Oct. 5 -- Chancellor Angela Merkel announced Sunday that Germany would guarantee all private bank accounts in an attempt to calm depositors as officials tried to resurrect a failed bailout plan for a blue-chip lender.

Paulson Adviser To Oversee Rescue
posted on October 05, 2008 11:00:00 pm
The Treasury Department plans to tap Neel Kashkari, an assistant secretary of international affairs and a former Goldman Sachs banker, to oversee the government's $700 billion financial rescue program, sources familiar with the situation said yesterday.

Blaming Deregulation
posted on October 05, 2008 11:00:00 pm
The financial turmoil has pushed the Obama campaign into the lead, and this is mostly justified. Barack Obama is more thoughtful on the economy than his opponent, and his bench of advisers is superior. But there's a troubling side to the Democratic advance. The claim that the financial crisis reflects Bush-McCain deregulation is not only nonsense. It is the sort of nonsense that could matter.

Is It 1929 Again?
posted on October 05, 2008 11:00:00 pm
Watching the slipping economy and Congress's epic debate over the unprecedented $700 billion financial bailout, it is impossible not to wonder whether this is 1929 all over again. Even sophisticated observers invoke the comparison. Martin Wolf, the chief economics commentator for the Financial Times, began a recent column: "It is just over three score years and ten since the [end of the] Great Depression." What's frightening is not any one event but the prospect that things are slipping out of control. Panic -- political as well as economic -- is the enemy.

Press May Own a Share in Financial Mess
posted on October 05, 2008 11:00:00 pm
Charlie Gasparino was so anxious to get on the air that he phoned in to CNBC, rather than walking to the studio, to report that nervous federal authorities were considering a bailout of the insurance giant AIG.

Assembling America's Mortgage Team
posted on October 05, 2008 11:00:00 pm
Retired and on his first family vacation in years, Herbert M. Allison Jr. sat with his wife and adult sons eating lunch on a veranda in the Virgin Islands when an urgent caller rang with a confidential inquiry.

A Test of Blackstreet's Strategy
posted on October 05, 2008 11:00:00 pm
Executives of Blackstreet Capital Management, a Bethesda private-equity firm, are constantly tossing around pithy investment philosophies. One saying is, "If we can't fix it in 12 to 24 months, we probably can't fix it."

Russ Ramsey Says Stick to Your Investment Plan
posted on October 05, 2008 11:00:00 pm
I first bumped into Russ Ramsey, a co-founder of investment banking firm Friedman, Billings, Ramsey Group, at the FBR Open golf tournament in Phoenix about five years ago. Russ has been an investor in Washington and its technology scene for two decades, starting with some early home runs with Mark Warner, who went on to become governor of Virginia.

Pay Less Tax on Your Funds
posted on October 05, 2008 11:00:00 pm
The nip of autumn is in the air, and that means it's time for many mutual fund companies to announce their capital-gains distributions. This has been a wretched year for the stock market, but because of the way funds work, you may still be on the hook for income taxes nextApril. Whether the market is up or down, it is a good time to consider the impact of taxes on your funds' returns and to look at funds that care about your tax bill.

Swim Among the Water Stocks
posted on October 05, 2008 11:00:00 pm
By Laura Cohn

Those Bargain-Hunter Blues
posted on October 05, 2008 11:00:00 pm
The past year or so has been humbling for most value-fund managers. Many all but missed the commodity boom. Then, to add insult to injury, too many of them bet too heavily on financial stocks, which got pummeled in the credit maelstrom.

How Mutual Fund Assets Are Protected
posted on October 05, 2008 11:00:00 pm
Are mutual funds covered by SIPC?

Avoiding the Temptation of Beaten-Down Stocks
posted on October 05, 2008 11:00:00 pm
In troubled times, bargain hunters typically feast on a buffet of beaten-down stocks. But the managers of the First Eagle Overseas (symbol SGOVX) are not yet tempted by many new opportunities. Instead, they're mostly nibbling at familiar flavors and adding to existing positions.

Beat the Rush to the Banks
posted on October 05, 2008 11:00:00 pm
As Warren Buffett once said, you never know who's been swimming au naturel until the tide goes out. And as investors have discovered, the U.S. banking system spent the better part of the past decade's housing bubble doing an underwater striptease. Now we're all getting an eyeful as banks, over-exposed to the sagging housing market, make a mad dash for cover.

Foreclosed Houses Unloaded at Auction
posted on October 05, 2008 09:44:58 pm
Trisha Bayles, who has been saving for years to buy her first home, got flustered when bidding started on the house she wanted in Laurel.

Bank on this: Bank failures will rise in next year
posted on October 05, 2008 09:35:51 pm
SAN FRANCISCO -- Here's a safe bet for uncertain times: A lot of banks won't survive the next year of upheaval despite the U.S. government's $700 billion plan to restore order to the financial industry.

Court tilts Wachovia fight toward Wells Fargo
posted on October 05, 2008 09:22:57 pm
NEW YORK -- The battle for control of troubled bank Wachovia tilted toward Wells Fargo Sunday as a state appeals court blocked a lower court ruling that had favored rival bidder Citigroup.

Americans eye bailout, and continue cutting back
posted on October 05, 2008 07:48:51 pm
-- Relief on Wall Street over the hard-won passage of a $700 billion bailout package for the financial system apparently hasn't yet trickled down to the pubs, storefronts, car lots and malls of Main Street.

Investors expect volatility as credit woes persist
posted on October 05, 2008 06:42:07 pm
NEW YORK -- The world's financial markets face an uncertain and possibly volatile week as investors await details about how the Treasury will implement the government's financial rescue package _ and watch for any further fallout from the credit crisis around the globe.

Germany agrees bank rescue and guarantees savings
posted on October 05, 2008 06:19:03 pm
BERLIN (Reuters) - Germany acted to stem turmoil in its financial sector Sunday, thrashing out a new rescue for imperiled lender Hypo Real Estate and, in a surprise move, pledging to guarantee private savings accounts.

German gov't, banks agree to $69B bailout for Hypo
posted on October 05, 2008 06:17:25 pm
BERLIN -- Germany on Sunday guaranteed all private bank accounts and negotiated a 50 billion euro ($69 billion) bailout deal for Hypo Real Estate AG as Europe's second largest economy sought to ward off financial crisis.

BNP clinches Fortis' Belgian bank arm
posted on October 05, 2008 06:13:28 pm
BRUSSELS (Reuters) - BNP Paribas (BNPP.PA) took control of the Belgian and Luxembourg businesses of troubled financial group Fortis (FOR.BR) on Sunday in a complex rescue that will make Belgium the French bank's biggest shareholder.

BNP Paribas to take majority stake in Fortis
posted on October 05, 2008 05:57:29 pm
BRUSSELS, Belgium -- French banking giant BNP Paribas will take a 75 percent stake in the remaining operations of troubled bank Fortis NV, the Belgian government announced Sunday.