Word: bankes
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Dates: during 2000-2009
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...Sept. 16 a money fund marked its net asset value below $1 - sacrilege for an investment meant to be the same as cash. After the Reserve Primary Fund "broke the buck" because of debt it held that was issued by the now-bust investment bank Lehman Brothers, institutional investors scrambled to withdraw their money. Sept. 18 brought additional worries: Putnam Investments said it would be shutting down one of its money market funds, and the ratings agency Moody's warned it might downgrade 13 of Lehman's funds. (Lehman's asset management subsidiary was not part of the bankruptcy...
...Just yesterday came news that one other venerable investment bank, Morgan Stanley, was considering a merger with the commercial bank Wachovia...
...market’s downward spiral reflects a larger atmosphere of worry in light of the collapse and liquidation of Lehman Brothers and the sale of Merrill Lynch to Bank of America at the beginning of the week...
...committee before leaving to start Blackstone with former Lehman chief executive Peter G. Peterson in 1985 with a $400,000 balance sheet. As of June 30 of this year, Blackstone had a total of $119.4 billion of assets under management. Light will accompany Richard Jenrette, the founder of investment bank Donaldson, Lufkin & Jenrette; Brian Mulroney, the former prime minister of Canada; and William Parrett, the chief executive of the professional services firm Deloitte Touche Tohmatsu as one of four independent directors on the board. —Staff writer Prateek Kumar can be reached at kumar@fas.harvard.edu...
...past couple weeks, a bad investment climate has turned into the worst financial crises in decades, forcing the bankruptcy of a major investment bank, the merger of one more, and a government bailout of Fannie Mae, Freddie Mac, and the American Insurance Group—pillars of American financial markets that have been teetering on the brink of collapse...