美國第五大投資銀行貝爾斯登資金狀況惡化，要聯儲局注資，觸發美股下挫，道瓊斯指數報11940點，跌204點。納斯達克指數報2214點，跌48點。聯儲局理事是一致通過向貝爾斯登注資，容許ＪＰ摩根大通利用貝爾斯登的抵押品，透過聯儲局貼現窗拆入資金，再提供給貝爾斯登。The Week That Shook Wall Street: Inside the Demise of Bear Stearns  3/18  SB120580966534444395  J.P. Morgan Rescues Bear Stearns  3/17  SB120569598608739825  Fed Races to Rescue Bear Stearns In Bid to Steady Financial System  3/15  SB120550108028136579
























Gov. Spitzer Steps Down, Seeks Deal to Avoid Prosecution  3/13  SB120532420627930015
Wall Street Cheers As Its Nemesis Plunges Into Crisis  3/11  SB120519411945525721
Spitzer Engulfed in Sex Scandal  3/11  SB120517240415424747

  Citigroup posted a huge net loss, hit by USD17.4 billion in

Credit Scare Spreads in U.S., Abroad  1/22  SB120096351182805111  Merrill Lynch and Citigroup have been forced to focus their energies on sometimes less-profitable but steadier businesses.  1/18  SB120056782485697411
TOO BIG TO SUCCEED? WSJ editorial writers say Citigroup's latest black-eye, a nearly USD10 billion loss for the last quarter, may show the bank is too large to be successful.   1/17  SB120053088129196017  SB120044489489392889
World Rides to Wall Street's Rescue  1/16  SB120044526135892909
For Financial Stocks, Is It Another False Bottom?  1/16  SB120044238607892763
Aid to Merrill Looks Better  1/16  SB120045547083193775
Citi Makes an Enticing Offer  1/16  SB120041972926291661
Battered by dismal market results, the two biggest U.S. banks are fundamentally re-evaluating their investment-banking strategies.  1/16  SB120042548230192013

MarketBeat: Live-Blogging the Citi Conference Call
Deal Journal: Cap Re's Long, Bumpy Citigroup Ride
Citigroup Plans Big Dividend Cut  1/15 SB120035073183189649
Trader Made Billions on Subprime  1/15  SB120036645057290423
Greenspan Will Join Paulson as an Adviser  1/15  SB120036783112890507

John Thain just presided over Merrill Lynch's largest loss in the firm's 94-year history. He hopes the worst is behind Merrill. He talks about what led to the loss, possibilities of a merger and why he's hiring Goldman executives.  1/18  SB120061681644699227
全球最大的投資銀行美林證券受次按問題影響去年第四季錄得98億美元虧損，是集團歷來最多，相當於每股虧蝕12.01美元，要為次按業務及相關投資撥備141億美元，美林去年全年在次按相關的業務，共虧損230億美元，美林行政總裁塞恩說業績不可接受，不過集團過去一個月已由美國及亞洲投資者引入130億美元資金紓緩資金緊絀。
Merrill Lynch will issue USD6.6 billion in preferred stock to investors that include Japanese bank Mizuho and state-controlled investment funds of South Korea and Kuwait.  1/16  SB120037913124290951
受次按問題困擾的美林證券與三家外國財團達成協議，以可兌換股份的形式，獲注資66億美元；三大財團，包括韓國投資，科威特投資局及日本瑞穗銀行集團，美林會向三財團提供百分之九的紅利，而這批股份可在兩年九個月後兌換。今次是美林兩個月來第二度集資，他們上月獲新加坡淡馬錫及戴維斯精選顧問注資62億美元；美林在按揭市場大幅虧損，急需現金周轉。
Merrill Lynch has announced that it will raise USD6.2 billion by selling shares to Singapore's Temasek Holdings.  Citigroup and Merrill Lynch are in talks to get additional capital infusions from investors, primarily foreign governments.  Merrill is expected to get USD3 billion to USD4 billion, while Citi could get as much as USD10 billion.  1/10  SB119993470776680093  Saudi billionaire Prince Alwaleed bin Talal is one of a number of investors likely to acquire stakes in Citigroup.  1/12  SB120009118772584777  Citigroup Inc.'s plans to raise capital by selling a stake of about USD2 billion to China Development Bank could be in jeopardy because of opposition from China's government.  1/14  SB120030610310488191 China has apparently squashed a multibillion-dollar investment in Citigroup by state-owned China Development Bank.

Trading in Deal Stocks Triggers Look at Banks  1/14  SB120027840975287629  SB120028597182088015
SEC Looks at Merrill Trading, In Search of 'Front-Running'  1/14  SB120027943317587783 

China's Investment Fund Pushes Back  3/07  SB120482743652717047
Bank of China's Subprime Hit: Up to USD2bln  1/22  SB120091912323204415
China's USD200 billion sovereign-wealth fund has received more than 130 applications from external money managers seeking to help it invest overseas.  1/16  SB120042434425491927
China's sovereign-wealth fund made a USD20 billion capital injection into state-owned China Development Bank ahead of its probable public offering. Sovereign-wealth funds have risen to prominence during the credit crunch in 2007. After reporting its first ever quarterly loss and an additional USD5.7 billion write-down related to subprime mortgages, Morgan Stanley recently said it would sell a 9.9% stake to China's fund. 

Bank Layoffs: In a continuing effort to shore up its finances, Citigroup could cut 5% to 10% of its 320,000 employees starting this week (2008/1/07).  Bear Stearns CEO James Cayne is stepping down from the post but will remain chairman.  He is expected to be succeeded by President Alan Schwartz.  1/08  SB119974995405373369  

中国国际金融有限公司 CICC China International Capital Corp: Morgan Stanley Balks at New CICC Bids  2/25  SB120389213882288965  Beijing May Fortify CICC  2/14  SB120290839797765323  Morgan Stanley Stake in China Bank Attracts TPG, J.C. Flowers and Starr  1/14  SB120026286076586953  1/12  SB120005637933983717  Morgan Stanley intends to sell its stake in a top Chinese investment bank as it focuses on new ventures in the country.  1/09 SB119978589796774589  

Goldman Sachs plans to back a billion private-equity fund being set up by its China partner.  1/10 SB119987509545477741
The Billion China Bet  2007/12/05  SB119680662568013535
Goldman's China Partner to Start Fund  2007/11/30  SB119639668326409255 
The New Deal Diplomacy  2007/11/28  SB119621328472106044

Countrywide Financial Corp. shares dropped nearly 10% Friday (1/18) amid growing investor fears that Bank of America Corp. could walk away from its agreement to acquire the struggling home-mortgage lender.  1/19  SB120070492065001981  The endgame in Bank of America Corp.'s USD4 billion takeover of Countrywide Financial Corp. began with a December phone call from Countrywide Chief Executive Angelo Mozilo.  2008/1/12
Bank of America's Big Gamble  SB120005404048583617
Mortgage Markets Get a Hand  SB120009769402185203
Beware of Search For Countrywide-Like Deals  SB120010240791285459
Countrywide Draws Ire of Judges: Questions About Practices Arise in Bankruptcy Cases; Possible Liabilities for BofA  1/14  SB120027204884687351
美國銀行宣布收購飽受次按風暴困擾的全美最大按揭貸款公司 Countrywide 作價40億美元，預料收購計劃於今年第三季度完成。Bank of America is near an accord to buy Countrywide, a move that would protect a big casualty of the mortgage-default crisis from possible collapse.  1/11
Countrywide Seeks Rescue Deal   SB120002931864283503
Deal May Bring Legal Troubles  SB120002075746283087
Bank of America Bets on a Recovery  SB120001419131182671

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Read more from December 2007

America's Federal Reserve, the European Central Bank, the Bank of England and the central banks of Canada and Switzerland launched a co-ordinated effort to bolster liquidity. After several months of turmoil, financial institutions are still reeling from the squeeze in money markets and access to credit has tightened. The Fed and its partners are introducing loans to depository institutions for a temporary period to ease their funding pressures.

Earlier, the Federal Open Market Committee cut America's benchmark interest rate by one-quarter of a percentage point, to 4.25%. It was the third rate reduction since August and comes amid much discussion about whether America is heading towards an economic recession. 

China aims to play a stabilization role in global markets through its USD200-billion sovereign wealth fund, the China Investment Corporation (CIC) chairman Lou Jiwei says. 中國投資有限公司09/29成立，註冊資本金為兩千億美元，由樓繼偉出任董事長，高西慶任總經理，胡懷邦做監事長。中國投資有限公司是依據《公司法》設立的國有獨資公司，目前從事的外匯投資業務以境外金融組合產品為主。 

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