Items Tagged with 'Lehman Brothers Holdings Inc.'


  • Wells Fargo's Net Earnings Down 25 Percent for Q3: Report

    Wells Fargo & Co. [stock WFC][/stock] announced Wednesday its third quarter earnings, reporting a profit of $1.64 billion, or 49 cents per share. Q3 net income fell 25 percent from last year's $2.17 billion in the same quarter, reflecting the economic headwinds now largely facing the nation's banking sector.
    Read More
  • The Blame Game: Lehman CEO Fuld Talks

    Richard S. Fuld Jr., in his first public appearance since Lehman Brothers Holdings Inc. collapsed in September, said in a sworn testimony before a Congressional panel on Monday that while he took full responsibility for the failure of the company he led, he still believed all his decisions "were both prudent and appropriate" at the time.
    Read More
  • Congress Begins Hearings, Will Look for Blame

    Henry Waxman (D-CA), chairman of the House Committee on Oversight and Government Reform, announced late last week that his committee will hold five hearings in October on the financial meltdown, signaling the start of a Congressional witch hunt to determine who is most to blame for the mortgage and financial ills that now threaten the broader U.S. economy.
    Read More
  • Thain to Head Investment Banking at BofA

    John Thain, current Merrill Lynch & Co. [stock MER][/stock] chairman and chief executive, was named to a “major role” in the recently combined Bank of America Corp. [stock BAC][/stock] and Merrill Lynch enterprise according to a press statement Tuesday morning. Bank of America chairman and CEO Ken Lewis said that Thain will oversee the global banking, securities and wealth management of the combined companies once the acquisition is completed sometime l
    Read More
  • Aurora Sees Servicer Ratings Dropped in Wake of Lehman's BK

    Following up on an earlier HW report addressing the future of Aurora Loan Services, the substantial servicing arm and once-large Alt-A origination platform tied to Lehman Brothers Holdings Inc. [stock LEH][/stock], Fitch Ratings said earlier this week that it had cut its core servicer ratings on the Littleton, Colo.-based servicer.
    Read More
  • Morgan Stanley Mulls Deal; End of Independent Investment Banks?

    (Update 1: noted Times retraction) Media reports are suggesting Thursday morning that Morgan Stanley [stock MS][/stock] -- one of only two independent investment banks left standing -- has begun the process of finding a merger partner. Whispers about the future of both Morgan Stanley and fellow independent i-bank Goldman Sachs [stock GS][/stock] have grown much louder in the back half of this week, in the wake of the failure of Lehman Brothers Holdings Inc. [stock LEH][/stock] on Monday.
    Read More