Topic: Merrill Lynch & Co. Inc.
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10 richest members of Congress
The 10 wealthiest members of Congress in 2012 include Senate and House members hailing from all over the US. Can you guess which political party had the most lawmakers on the list – and who grabbed the top spot?
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A hard landing for China? Six top economists weigh in.
China's economy grew 8.9 percent last quarter, the slowest pace in 2.5 years, and on Monday Premier Wen Jiabao cut the nation's growth target for 2012 to 7.5 percent, an eight-year low. Worries of a Chinese hard landing, defined as a sharp and sudden deceleration in growth, have gained momentum. However, China has been proactive in its efforts to prevent a hard landing. It has fine-tuned its policies to curb inflation, boost domestic consumption, and prevent a housing bubble. The Chinese government intervened heavily from 1989 to 1991 to cool its economy, causing real growth in gross domestic product to plunge to 4.1 percent in 1989, from 11.3 percent the previous year. It stepped in again in 1993. And some argue that this time around it's no different, and that the government knows exactly what it is doing. So we asked six top China analysts whether they saw a hard or soft landing scenario and what we should keep an eye on.
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Top 4 tips to keep your broker honest
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Gallery: CEO exits
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A hard landing for China? Six top economists weigh in.
China's economy grew 8.9 percent last quarter, the slowest pace in 2.5 years, and on Monday Premier Wen Jiabao cut the nation's growth target for 2012 to 7.5 percent, an eight-year low. Worries of a Chinese hard landing, defined as a sharp and sudden deceleration in growth, have gained momentum. However, China has been proactive in its efforts to prevent a hard landing. It has fine-tuned its policies to curb inflation, boost domestic consumption, and prevent a housing bubble. The Chinese government intervened heavily from 1989 to 1991 to cool its economy, causing real growth in gross domestic product to plunge to 4.1 percent in 1989, from 11.3 percent the previous year. It stepped in again in 1993. And some argue that this time around it's no different, and that the government knows exactly what it is doing. So we asked six top China analysts whether they saw a hard or soft landing scenario and what we should keep an eye on.
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The Circle Bastiat How to invest in the housing market. Really.
Greg Lippmann, made a star by author Michael Lewis in The Big Short, for making millions on the housing collapse, is now taking the other side of the bet and buying mortgage backed securities. It seems foolish on the surface, but it's actually a shrewd investing opportunity.
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The Reformed Broker Big brokerage firms aren't paying attention to their clients
As financial firms become bigger and bigger, they are focused on corporate profitability over the satisfaction of their brokers and clients.
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Dow comes within nearly 50 points of 13000
The Dow rose 45 points to close at 12949 Friday, inching toward a 13000 mark it hasn't seen since before the 2008 financial crisis.
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The Simple Dollar Banks are not your friends
Financial institutions do not give you money because they want your dreams to come true. They give you money for their own gain. Here are the best ways to reduce your reliance on these businesses.
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As red ink flows, Japanese firms struggle to keep manufacturing at home
Japan's manufacturing base is hollowing out as many electronic and car factories move overseas. Meanwhile, a strong yen is sending firms on an international buying spree.
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Robert Reich Romney can take risks. He's rich.
Mitt Romney is casting his campaign as a defense of free enterprise, hard work, and risk-taking. Easy for him to say: the higher you go on the economic ladder, the easier it is to make money without taking any personal financial risk at all. The lower you go, the bigger the risks.
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Financial fallout for Penn State: $2 billion fundraising drive in danger?
Penn State reports that its seven-year capital campaign has reached 72 percent of its target. But the remaining 28 percent could present a challenge if donors don't rally around Penn State.
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U.S. economy finally back to pre-recession level
U.S. economy posts 2.5 percent increase for third quarter, up from 1.3 percent in second. Biggest challenge for U.S. economy: jobs.
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Deflation risks rising: Nightmare scenario
Deflation: If forecasts are correct, several factors could present a dangerous combination the Fed might not allow to brew for very long.
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Why Obama should call for a breakup of big banks
What better way for the president to distinguish himself from Romney than to condemn Wall Street’s antics since the bailout and call for real reform?
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Bank of America: Fireproof it with 'asbestos deal'?
Bank of America's woes are so large that it could take a page from the asbestos settlements trusts of more than a decade ago. Bank of America faces a raft of lawsuits claiming it knowingly sold them securities backed by shoddy home loans.
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Faulty mortgage loans catch up with 17 big banks
Faulty mortgage loans were a major contributor to the recession and now a US regulator is suing 17 big banks for their role in those faulty loans.
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US sues biggest banks over risky mortgages
Government lawsuit claims 17 banks, including Bank of America, Citigroup, and JP Morgan, misrepresented the value of $196 billion worth of mortgage-backed securities when it sold them to Fannie Mae and Freddie Mac.
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Europe's debt crisis won't end until Greece defaults
Once considered a small manageable problem, Europe's debt crisis has grown into a major international crisis. Europe will have to resolve the Greek problem that sparked the crisis.
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Burt Reynolds sees his Florida mansion go into foreclosure
Burt Reynolds hasn't paid the mortgage on his five-bedroom mansion for a year. Burt Reynolds owes $1.2 million, say creditors in a lawsuit.
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Mortgage rates at record lows. Will that finally lift US housing market?
Record-low interest rates on mortgages are one outcome of debt-ceiling deal. But they are just one piece of recovery for the housing market, which is beset by falling prices and high jobless rates.
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Unemployment rate rises to 9.2 percent. Just a 'soft patch'?
US economy added just 18,000 jobs in June, a sign the recovery is dragging. The unemployment rate rose from 9.1 to 9.2 percent. Still, most economists see a pickup in second half of 2011.
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Natural gas: Shale firms' balance sheets raise 'red flags'
Natural gas shale companies' financial statements don't add up, says Dallas Fed advisory member. Companies have high leverage, little cash, and very low estimates for natural gas extraction, she says.
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Top 4 tips to keep your broker honest
Maybe individual investors can’t fix the broad regulatory breakdown that has allowed financial frauds to occur, like dodgy mortgage-backed securities and Bernie Madoff’s pyramid scheme. But they can take steps to protect themselves against unscrupulous financial advisers. Knowledge is the best weapon. The more investors know, the less likely they are to be taken advantage of by a dishonest broker. Here are four ways you can ensure your broker is following the rules:
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China and gold bubbles close to popping? Bernstein thinks so.
Richard Bernstein, a Wall Street veteran, thinks that Chinese stocks should be avoided and Europe might surprise us. Should we be listening?
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US-China meeting comes as China faces its own problems, too
With all the talk of debt and unemployment in the US, the US-China economic meeting this week seems to suggest an America in eclipse. The truth, however, is more complex.
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Coming web IPOs: the Renaissance roundup
LinkedIn, Zillow, and HomeAway are among the web-based companies that have recently filed for IPOs
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Stocks sink after S&P downgrades US outlook
Standard and Poor's cut its outlook for long-term US credit on Monday, sending US stocks downward
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Tech stocks edge higher with M&A boost
Tech stocks got a mild boost from Texas Instruments' bid for National Semiconductor. While tech stocks edged up, however, the Dow and S&P fell slightly.
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