Saturday, November 3, 2007

Banking gets bloody

Top US analyst hits back after death threats over Citigroup downgrade

http://business.timesonline.co.uk/tol/business/markets/article2796774.ece

Meredith Whitney, the analyst who prompted a $369 billion (£177 billion) plunge in the value of US shares on Thursday by issuing a negative note on Citigroup, hit out at Wall Street's culture of intimidation yesterday after receiving several death threats from investors in the bank.

Ms Whitney, a CIBC analyst who is married to the former World Wrestling Entertainment champion Death Mask, prompted a near 7 per cent drop in Citigroup's shares on Thursday, after suggesting that the bank needed to raise more than $30 billion to restore its capital cushion.

BestBank's ex-owner plummets 27 stories hours before hearing

http://www.rockymountainnews.com/drmn/other_business/article/0,2777,DRMN_23916_5738328,00.html Facing jail, banker leaps to death

Banks hit again as credit fears spread

Fears of a fresh wave of losses arising from the credit squeeze spread around the globe on Friday, depressing stock markets in Europe and Asia and savaging bank shares for the second day in a row.

Despite a surge in US employment growth last month, investors remained worried that banks and other financial institutions still faced heavy losses arising from the troubled US mortgage market and related securities.

http://www.ft.com/cms/s/0/9ce8e2aa-897b-11dc-b52e-0000779fd2ac.html?nclick_check=1