Morning Roundup: Foreclosure Follies Foil Financial Firms

  • Wall Street has woken up to the idea that the foreclosure crisis could force banks to modify huge amounts of loans, and stalled evictions could hamper payments to bondholders. The stock market has begun to act accordingly. [WSJ]
  • On a related note, according to the credit-default-swaps market, Bank of America is no longer Read More

Layoffs at TheStreet.com

TheStreet.com—a financial news site started by Jim Cramer in 1996—laid off roughly half a dozen employees yesterday afternoon, Media Mob has learned.

Earlier this afternoon Editor-in-Chief David Morrow confirmed that there had been layoffs but declined to say exactly how many; and, according to Mr. Morrow, the cuts were not indicative of financial problems at Read More

Cramer to Stay at CNBC

Jim Cramer has signed a multi-year deal to remain with CNBC, it was announced last night. Here’s the release:

CNBC, First in Business Worldwide, today announced that Jim Cramer, host of “Mad Money w/Jim Cramer” (6PM & 11PM ET), has signed a multi-year deal to remain with the network.

“Jim has played an integral part Read More

Cuomo, Spitzer Deal With Jim Cramer

Eliot Spitzer and Andrew Cuomo walked into the conference room in the governor’s midtown office together, along with a few elected officials, to discuss the state’s strategy for dealing with the sub-prime mortgage crisis.

Spitzer said one in five sub-prime mortgage loans in New York State ended in foreclosure, making it a widespread crisis. Read More