U.S. Stocks Tumble on Recession Concern; JPMorgan, AIG Decline
Posted by: admin in Today NewsU.S. Stocks Tumble on Recession Concern; JPMorgan, AIG Decline
Bloomberg - The KBW Regional Banking Index declined 3.2 percent as all 24 of its members fell. Moody’s Investors Service downgraded eight regional and community banks including Susquehanna Bancshares Inc. and Trustmark Corp., citing possible losses on commercial
Investors say lax oversight cost them millions
Miami Herald - Stockbroker Gary Gross wiped out the investment accounts of dozens of people in risky, volatile securities while racking up large commissions for himself, according to arbitration complaints. When stockbroker Gary Jay Gross asked regulators in Florida
Australian Bonds Will Outperform New Zealand Debt, ANZ Predicts
Bloomberg - Feb. 29 (Bloomberg) — Investors should purchase Australian 10-year government bonds instead of similar-dated New Zealand debt because yields on the two securities have converged, according to Australia & New Zealand Banking Group Ltd. Australian bonds
Wall Street Burned By Slowing Economy
Forbes - Fed Chairman Ben Bernanke, who visited the Senate Banking Committee to offer his monetary policy report Thursday, held firm to his position, repeating that he believes the U.S. economy will skirt a recession, despite the negative economic indicators
MBT Financial Corp. Announces Quarterly Dividend
MSN MoneyCentral - MBT is a full-service bank, offering a complete range of business and personal accounts, credit options, and phone and online banking services.
Analysis: Fed chairman learning to navigate treacherous economic and
CNBC - That doesn’t mean he gave either side all that they were looking for during Wednesday’s hearing or a follow-up performance Thursday before the Senate Banking Committee.
Bernanke doesn’t see return of ’70s woes
Forbes - I don’t anticipate stagflation,’ Bernanke told the Senate Banking Committee. ‘I don’t think we’re anywhere near the situation that prevailed in the 1970s.
Harris Helpful Hints: Mortgage Safety Tips for Homebuyers and
MSN MoneyCentral - As the volatility of the mortgage industry continues, homeowners and prospective homebuyers are more apprehensive than ever,” said Tim Crane, President, Harris Community Banking.
UPDATE 1-Swiss bank Baer defends Web site shutdown
Forbes - ZURICH, (Reuters) - Swiss bank Julius Baer , facing an international backlash, defended Thursday taking legal action to shut down a Web site that published what the site said were details of secret bank accounts linked to tax- avoidance schemes
Bernanke States Slowdown, Inflation Complicate Policy (Update1)
Bloomberg - We’ve simultaneously a slowdown in the economy, stress in the financial markets, and inflation pressures coming from these commodity prices abroad,” Bernanke said at the Senate Banking Committee.
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