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The article discusses warnings issued by Lehman Brothers Holdings Inc. executive Matthew Lee to Lehman chief financial officer Erin Callan and chief risk officer Chris O'Meara in May, 2008 concerning alleged violations of the firm's code of ethics by senior management. Matthews believed Lehman may have been deliberately slow in recognizing nonperforming assets, among other shortcomings. He was fired shortly thereafter.

The article reports that Bank of America Corp. denied rumors it was attempting to back out of its $4.1 billion acquisition of troubled mortgage loan company Countrywide Financial. The bank did admit it was carefully scrutinizing Countrywide's finances, and it has stated it may not guarantee all of Countrywide's $38 billion in debt.

The article reports that leading financial services companies including Morgan Stanley, Goldman Sachs Group, and Merrill Lynch are seeking to reduce the amount of debt they use to generate profits through leverage. Excess leverage was blamed for the near collapse of Bear Stearns. The amount of assets held by these firms can amount to as much as 30 times their net equity.

The article examines how investors can evaluate the stock prices of financial service industry firms in the wake of the collapse of Bear Stearns. Stocks of all these companies have declined in 2008, and at some point they may be a good buy. The opaque nature of the financial crisis in credit markets, however, makes it difficult to examine the company's balance sheets with any degree of confidence.

The article reports that the liquidity crisis affecting the financial services firm Bear Stearns caused the stock prices of other such firms to fall significantly, as investors worried the problem could spread throughout the industry. Lehman Brothers Holdings Inc. was the company to suffer the most during the selloff, with its price dropping 15 percent.

The article discusses Fannie Mae and Freddie Mac. The share prices of both firms have neared lows not seen since 1995. Some expect they will attempt to raise up to $10 million apiece in new capital by selling additional stock, thus diluting existing shareholders. However, Caroline Cai of Pzena Investment Management LLC is among those who believe the firms could obtain capital without selling shares.

The article discusses issuance of credit by Target Corp. At a time when many banks and financial institutions are cutting back on credit-card loans, Target has experienced a dramatic increase. Some analysts believe the firm could end up with an unexpectedly large amount of bad debt, but chief financial officer Douglas Scovanner insists Target has not loosened its credit standards.

The article discusses the earnings prospects for Goldman Sachs Group Inc. Although the firm has managed to avoid punishing losses related to subprime lending that have afflicted other securities firms, it does have substantial investments in several problematic areas that could result in diminished earnings.

The article discusses the exposure to commercial real estate of Lehman Brothers Holdings. A deteriorating commercial market puts at risk the considerable amount of commercial real estate loans that Lehman holds. The firm believes it could be forced to write down the value of those loans by around $1.3 billion.

The article discusses the financial condition of Sears Holdings, Inc. The company has forecast reduced earnings for its fiscal fourth quarter, and data suggest its cash flow is lagging. Investors fear reduced cash flow will inhibit Sears' ability to invest in its retail outlets, and impair an ongoing stock buyback program.

The article reports on Tommy A. Moore Jr. and his First Investors Financial Services Group Inc., a subprime automobile lender that has largely sidestepped the credit crisis due to Moore's cautious approach to lending. First Investors' loan approval rate dropped sharply ahead of the U.S. subprime collapse, and as a result the company has suffered fewer credit losses.

The article discusses anxiety on the part of investors who hold bonds issued by Countrywide Financial Corp. When Bank of America (BOA) announced it would take over Countrywide, many bondholders were optimistic. Now some fear that BOA will structure the merger so that it is not completely responsible for Countrywide's debt obligations.

The article focuses on the positive impact a January 2008 interest rate cut by Ben Bernanke, the chairman of the U.S. Federal Reserve, had on the ability of U.S. banks, including Wachovia, to repair their balance sheets and balance their earnings. A discussion of a decrease in investor interest in the stock share of the banks which has resulted from the interest rate cut is presented.

The authors express concerns that small investors may start to buy financial stocks whose prices are trading well below their book value. The article discusses how Bank of America bought Countrywide Financial for $4 billion, a price equal to a third of its book value. The deal between Bank of America and Countrywide Financial is believed to be relatively sound, but the authors are concerned that other investors may follow it.

The article focuses on the plans of Bank of America Corp. to purchase the financially struggling Countrywide Financial Corp. A discussion of the impact the merger could have on the finances and stock prices of Countrywide and Bank of America is presented. Differing views concerning the severity of Countrywide's financial problems are discussed.

The article focuses on the difficulties that SLM Corp, formerly known as Sallie Mae, may have when attempting to raise $30 billion of debt to refinance an existing loan that it has. A discussion of the company's decision to appoint Anthony P. Terracciano as chairman, and and have him succeed former chairman Albert L. Lord, who remains chief executive of the company, is presented.

The article focuses on the methods, including the divestiture of the business and a corporate turnaround, that Marsh & McLennan Cos. may use to try and make its core insurance brokerage business more profitable. The December 2007 ouster of the company's former chief executive officer, Michael G. Cherkasky, which was prompted by activist investors, is discussed.

The article focuses on American International Group (AIG) that has not paid any cash dividends to the U.S. Department of the Treasury on the 49 billion dollars of public money it still has invested in the firm as of September 2010.

The article reveals the possible overuse of short-term debt as a cause of Lehman Brothers' failure.

The author focuses on the success of the Washington Mutual (WaMu) mortgage deal made by J.P. Morgan Chase with government-backed buyers in 2009.

The author reflects on the dilemma facing the U.S. Federal Reserve on whether to curb inflation or boost employment as it is more likely to be pressured by politicians to take steps to reduce unemployment.

The author reflects on the concerns of investors that U.S. Federal Reserve Chairman Ben Bernanke will buy bonds to boost the economy and its inflationary risk.

The article stresses the difficulty in measuring the true value of investments at a time when their prices are influenced by the actions, or perceived inaction, of governments and central banks.

The author focuses on the need for banks or bond investors to participate in the housing market in the U.S. to have a sustainable housing recovery, and the foreclosure crisis in the country.

The author focuses on the possible changes at financial firm GE Capital as it comes under regulatory oversight of the U.S. Federal Reserve which include a higher capital requirement and a lower level of short-term market debt.

This article discusses the decision of the U.S. Federal Reserve to carry out enough Treasury purchases during the week of August 12, 2010 in a bid to stop its balance sheet shrinkage.

The author focuses on an investigation by the U.S. Securities and Exchange Commission (SEC) into the bank CVB Financial which he considers as a reflection of the interest of the agency in loan accounting.

The author reflects on the U.S. economic outlook based on the contradictory results between the stocks and bond markets.

The article reports on the possibility that U.S. Federal Reserve may increase its bond holdings due to issues like higher unemployment and lower inflation.

The author comments on the new Basel proposals for international bank regulations which, according to him, lack information on what exactly constitutes capital for the leverage-ratio calculation.

This article analyzes the net interest margins of U.S. banks operating in Japan in 2010.

The author cites the potential benefits and loopholes in an amendment to the financial regulatory reform bill known as the Volcker Rule named after former U.S. Federal Reserve chairman Paul Volcker which limits the trading of banks on government bonds.

The author reflects on the mixed pricing of stocks offered by U.S. banks and the role of Troubled Asset Relief Program (TARP) repayment.

The author focuses on the financial overhaul bill in the U.S. which he cites its failure to resolve the problem with too-big-to-fail banks as one shortcoming of the bill.

The author comments on the new policy of Fannie Mae that would make so-called strategic defaulters not eligible for another loan from the U.S. mortgage company for seven years.

The author reflects on the importance of business viability of clean-energy companies that receive loans from the U.S. Department of Energy to reduce risks for taxpayers, including Solyndra and Tesla Motors.

This article analyzes the growth of Portfolio Recovery Associates amid the U.S. economic crisis in 2010.

The author stresses the need for mortgage firms Fannie Mae and Freddie Mac to have a radical reorganization to avoid another disaster in the housing sector.

The author questions the effectiveness of an amendment sponsored by Democratic Senator Blanche Lincoln of Arkansas to the pending financial regulatory reform bill, which would mandate banks to spin off their derivative securities business into new affiliates separate from insured bank subsidiaries, to prevent U.S. government bailout.

The author comments on the lack of growth in loans and leases from U.S. commercial banks despite the government aids.

The article reports on the move of J.P. Morgan Chase to correct errors made by its analyst Paul Coster in his bullish report about software firm Sonic Solutions in June 2010.

The author speculates that Federal Deposit Insurance Corp. chairman Sheila Bair may have been talking about Deutsche Bank when she mentioned a foreign bank with negative Tier 1 capital in her letter to the Institute of International Bankers in May 2010 defending strict capital regulations.

The author stresses the need for the General Electric (GE) to slash its commercial-paper outstanding and encourages investors to watch the company if the markets freeze.

The author focuses on the importance for brokers and banks to leverage client assets to ensure company strength.

The author focuses on the nondisclosure of information on reimbursements by the U.S. Federal Housing Authority (FHA) as the agency is said to be in the process of reviewing past loans.

This article looks at the poor condition of the housing market in the U.S. despite the end of the recession and the support the market received from the government.

The article discusses the state of the home loans that were filed during the housing boom in the U.S.

The author expresses his views that the involvement of the International Monetary Fund (IMF) in the bailout of some euro-zone nations facing debt crises reflects that the European Union (EU) is incapable of doing it on their own and that EU politicians use IMF to protect the bloc.

The author focuses on the money pit of U.S. mortgage-buyer Fannie Mae which is expected to become bigger following an accounting-rule change.

The article analyzes the anticipated global economic recovery following the recessions.