Word: lehman
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...Bernanke at the Federal Reserve, he has driven Bear Stearns into the arms of J. P. Morgan at a fire sale price; he has forced the board of Fannie Mae to enable a government takeover even though it meant devastation for shareholders; he has stared down Richard Fuld at Lehman Brothers, who thought he could bluff Paulson into saving the firm; and he has negotiated brutal terms with AIG to save them from outright failure with a government bailout...
...financial services industry,” though she said she did not know the percentage of alumni working in that sector.Following a year-long slump, financial markets have nose-dived in recent weeks as a series of financial shocks have hit Wall Street, including the failure of Lehman Brothers, the government takeover of mortgage giants Fannie Mae and Freddie Mac, the largest government bailout to date, an $85-billion loan to the American Insurance Group, and most recently, the failure Washington Mutual and its subsequent takeover by federal officials in the largest bank failure in U.S. history. Amid concern that...
...proposal for this unprecedented government intervention in the market follows a series of financial shocks in recent weeks, including the failure of Lehman Brothers, the government takeover of mortgage giants Fannie Mae and Freddie Mac, the largest government bailout to date, an $85-billion loan to the American Insurance Group, and most recently, the failure Washington Mutual and its subsequent takeover by federal officials in the largest bank failure in U.S. history...
...there is trouble in paradise. Industry stalwarts Bear Stearns and Lehman Brothers have vanished into the ether, while fellow bulge-bracket Merrill Lynch was engulfed by Bank of America. Even the top firms Goldman Sachs and Morgan Stanley have agreed to become bank holding companies, subjecting themselves to restrictive regulations in return for greater access to liquidity from...
...government plan to purchase up to $700 billion of toxic securities in an effort to cleanse the balance sheets of the country’s ailing financial institutions. The unprecedented government intervention in the market follows a series of financial shocks in recent weeks, including the failure of Lehman Brothers, the government takeover of mortgage giants Fannie Mae and Freddie Mac, and the largest government bailout to date—an $85 billion loan to the American Insurance Group, Inc., an insurance company whose near-collapse some feared would send the financial system into a tailspin. The headline-grabbing failures...