February 2008

Lots of talk about inflation here, due to a weaker dollar, high oil and commodity prices. There’s an even bigger inflationary force looming on the horizon: China. The Beijing Olympics will open up the Middle Kingdom to scrutiny like never before. What’s going on in China could cause another stock market-rattling event here in the U.S. Sources tell me that the Chinese government is ... read more

Some quick headlines after covering the Ben Bernanke testimony today before the Senate Banking committee with Fox Business’s Ray Hennessey, Cheryl Casone, Tom Sullivan, Dagen McDowell and Stuart Varney, here’s what caught our attention: *The DJIA was down about 30 to 40 points, but then started selling off, down more than 150 points, after news crossed the wires that Bernanke said he ... read more

Before I tell you about Ben Bernanke’s testimony today before Congress, which I was honored to cover for three hours with the estimable Fox Business news editor Ray Hennessey, anchors Cheryl Cassone, Tom Sullivan, Dagen McDowell and Stuart Varney, I need to give you some news. Congress has postponed its hearing scheduled tomorrow with former Wall Street bankers testifying about the fat cat ... read more

Expect some fireworks out of Congress this Thursday as chief executives from Citigroup (C), Merrill Lynch (MER) and Countrywide Financial (CFC) face questions about how they walked away with rich pay, after leaving behind the smoking wreck of companies damaged by the sub prime mess. At bat: Former Citigroup chairman and chief executive Charles Prince, former Merrill Lynch CEO Stan O’Neal and ... read more

The news late last week that Bear Stearns (BSC) and Citic Securities are re-pegging their share-swap deal led to fevered media speculation over whether China’s largest state-run brokerage has ice-cold feet. Lots of talk, too, that if Citic bails, Bear Stearns would have no choice but to do a last-ditch merger to save the Wall Street brokerage from extinction. The speculation caused Bear’s ... read more