Could a Federal Reserve interest rate cut on Wednesday be the trick that treats tapped-out consumers to more spending money during the critical holiday shopping season?
This past summer's subprime meltdown involved about $900 billion in now-suspect securitized debt, reckless lending, and consumers who buckled under the weight of loans they couldn't afford. Now another link in the consumer debt chain - credit cards - is starting to show signs of strain. And the fear that the $915 billion in U.S. credit card debt (an uncannily similar figure) may blow up has major financial institutions like Citigroup, American Express, and Bank of America strapping on their Kevlar vests.
The Dow slipped and the broader market ended mixed Tuesday, after a choppy session in which investors mulled weaker economic news and lower oil prices ahead of an expected interest rate cut from the Federal Reserve Wednesday.
Taking on the top job at Merrill Lynch could turn an executive into a Wall Street legend, but it also has the potential to ruin anyone who takes the CEO post from the just-departed Stanley O'Neal. That stark choice may be one of the reasons Merrill hasn't lined up anyone just yet to lead the firm out of the crisis sparked by large losses from junk mortgages.
Question: Why is it that most retirement calculators don't factor in the fact an investor would normally transition into bond and money market funds as retirement approaches? Moreover, few articles address how a flat or declining market in the year before retirement could affect the size of one's nest egg. What's an investor to do? - Peter Binoto, Pittsburgh, Penn.
Lawmakers are looking to pass $71 billion worth of tax-break extenders this year. Most politicians support the extensions, but how to pay for them is another matter entirely.
This must be some screenwriter's idea of a Halloween prank, setting the contract between the Writers Guild of America (WGA) and the Alliance of Motion Picture and Television Producers (AMPTP) to expire on October 31. But can anybody in Hollywood appreciate how frightening the situation that's now coming to a head really is?
Thinking of getting Mom a new Fendi bag for the holidays -- or celebrating New Year's with Veuve Cliquot champagne? You might want to start buying now.
Saks, known for selling high-priced handbags and designer apparel to wealthy shoppers, may find its richly valued stock price a hindrance to its biggest sale yet: that of the company to a pair of foreign investors.
Since the subprime crisis erupted earlier this year, vulture investors looking for bargains have been circling battered securities backed by mortgages.
