2008 hard on banks, others
NEW YORK – While problems in banks’ mortgage portfolios had surfaced some time before, 2008 was the year in which a landslide of deteriorating credit and concerns over capital took down industry stalwarts like Washington Mutual Inc. and Wachovia Corp., and sent stocks plunging to multiyear lows. Photo caption: Wells Fargo & Co. took over Wachovia last year and emerged as the biggest ...
Read more News Source - Fort Wayne Journal Gazette
Publish date - 08:21:02 01/04/09

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Washington Mutual must say what they paid for assets
Judge rules that potential buyers, the court need to know pricing details A federal bankruptcy judge on Tuesday denied a request by Washington Mutual Inc. to keep details of certain asset sales secret.
Read more News Source - Sun-Sentinel
Publish date - 08:11:12 12/31/08

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Eating Crow at a Dinner for Wall Street
It’s time for the annual DealBook closing dinner column, and while there are a few winners to be highlighted, Andrew Ross Sorkin finds the list of losers to be a bit longer.
Read more News Source - New York Times
Publish date - 12:02:52 01/06/09

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Private equity group buying IndyMac assets
WASHINGTON/NEW YORK (Reuters) - The assets of failed U.S. mortgage lender IndyMac are being bought by a group of private equity and hedge fund firms, including Dune Capital Management and J.C. Flowers & Co, which are putting up $1.3 billion in cash.
Read more News Source - Washington Post
Publish date - 08:23:36 01/06/09

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Michael Dell Part of Group Buying Busted IndyMac Bank
Michael Dell is going to try to turn a buck on the mortgage mess. He’s part of a consortium of seven private equity investors that signed a letter of intent with the Federal Deposit Insurance Corporation (FDIC) on New Year’s Eve to buy the failed IndyMac Bank, one of the accursed entities that led the US economy down the primrose path of sub-prime loans. read more
Read more News Source - SYS-CON Media
Publish date - 11:16:13 01/05/09

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Eating Crow at a Dinner for Wall St.
Many heavy hitters on Wall Street, even those who did not get burned badly, should be glad that 2008 is history.
Read more News Source - New York Times
Publish date - 03:27:23 01/06/09

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Credit freeze has iced banks' capital
NEW YORK -- While problems in banks' mortgage portfolios had surfaced some time before, 2008 was the year in which a landslide of deteriorating credit and concerns over capital took down industry stalwarts such as Washington Mutual Inc. and Wachovia Corp., and sent stocks plunging to multiyear lows.
Read more News Source - Everett Herald
Publish date - 08:10:33 01/02/09

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Judge rules against confidentiality for Washington Mutual
WILMINGTON, Del. — A federal bankruptcy judge has denied a request by Washington Mutual Inc. to keep details of certain asset sales secret.
Read more News Source - Finance and Commerce
Publish date - 20:21:35 12/30/08

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Are Taxpayers Subsidizing the Sale of IndyMac?
The FDIC takes the risk out of "risk capital."
Read more News Source - The Motley Fool
Publish date - 20:35:45 01/05/09

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Business year in review: A-Z of 2008
A is for Alistair Darling The chancellor was thrust into the spotlight as the financial crisis escalated this year. In the summer, just before a second wave of banking turmoil that rocked the markets, Darling gave an explosive interview to the Guardian saying that Britain faced "the worst economic times in 60 years". In November's pre-budget report he announced a package of tax cuts ...
Read more News Source - Guardian Unlimited
Publish date - 12:43:39 01/06/09

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