Tuesday, December 02nd, 2008

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Posts Tagged ‘ wall street crash ’

Lehman Brothers Expected to Pull Through

Jun 6th, 2008 | By Contrarian Profits | Category: Featured, Financial News

Lehman Brothers, the fourth largest US investment bank, is at the centre of a storm of bad news stories.

Shares in the Wall Street powerhouse tumbled 31% last month on the NYSE on expections of heavy Q2 losses and the likelihood that the bank will have to raise cash to cover subprime-related writedowns. However, unlike rival Bear Stearns, the word on the Street is that Lehman will survive.

On Wall Street, after Bear Stearns fainted, the other financial firms took smelling salts,” says Bill Bonner in The Daily Reckoning.



Housing Crisis Hits Manhattan

Jun 6th, 2008 | By Contrarian Profits | Category: Featured, Financial News

Home prices in Manhattan have remained largely immune from the housing crisis gripping the US… until now.

According to Reuters, the New York real-estate market is showing a significant reduction in new deals as Wall Street sheds staff to reduce costs.

“For the most part, the subprime crisis is past its inflection point,” says Eric Roseman in the Offshore A-Letter. “What matters now is how and when other credit indicators normalize.”



Bernanke: No More Rate Cuts

Jun 4th, 2008 | By Contrarian Profits | Category: Featured, Financial News

The US dollar made a comeback after Federal Reserve chief Ben Bernanke warned that a weaker US currency encouraged inflation and said there would be no more rate cuts for the time being.

The greenback climbed more than 1 cent against the euro, and the price of gold dropped $8 after Bernanke’s remarks.

“All inflationary measures are rising and have been for over a year now,” says Keith Fitz-Gerald in Money Morning, “despite the fact that the Fed has apparently only just recently noticed inflation is rising faster than it would like.”