Merrill Lynch CEO Stan O'Neal reportedly will be leaving the investment house following its announcement last week of $8 billion in subprime write-downs. Steve Henn reports O'Neal would be the highest profile casualty of the subprime mortgage debacle.
Merrill Lynch CEO Stan O'Neal faces a probable resignation this morning after the company's biggest quarterly profit lose in its 93-year history. But Steve Henn reports he's not going to walk away empty-handed.
Emirates, one of the fastest-growing airlines in the world, is planning to list itself on Dubai's stock market. Stephen Beard reports that this gives a boost to Dubai's fledgling exchange, which is building itself as a global presence.
Former Treasury Secy. John Snow says he doubts that a so-called superfund set up by big banks to cushion the mortgage meltdown is going to work. Kai Ryssdal talked with Reuters columnist James Saft to find out why not.
Despite Countrywide's $1.2 billion loss in the 3rd quarter, its CEO says the black ink is about to start flowing again. That word sent its shares soaring. Steve Tripoli reports on whether people bidding up those shares are drinking more than their share of the Kool-Aid.
While most investment banks are struggling, Goldman Sachs is doing well enough to promote 299 employees to managing director. Amy Scott deciphers the true meaning behind the title.
Merrill Lynch wrote down almost $8 billion dollars in loans and other credit-related investments today — its first quarterly loss in almost six years and almost $3 billion more than it predicted a couple of weeks ago. Amy Scott reports.
Merrill Lynch turned in its first quarterly loss in six years, and the write-downs are a few billion dollars larger than expected. Jeremy Hobson reports big bets on mortgage-related securities are partially to blame.
As Wall Street remembers the anniversary of Black Thursday, it's not difficult to see some similarities between today's market and the one from the Depression era. Alisa Roth looked into it.
