RSSSoros makes more money as Wall Street battered by automaker, bank worries
Carolyn Hileman - The Voice | March 30, 2009
NEW YORK (Reuters) – Stocks slid on Monday as the Obama administration raised the possibility of takeover and bankruptcy for two major U.S. automakers, and European bank rescues sent financial shares lower.
In the latest efforts in its aggressive campaign to shore up the economy and struggling corporations, the administration forced out General Motors Corp’s CEO, pushed Chrysler LLC toward a merger and threatened bankruptcy for both. GM shares tumbled 20.4 percent to $2.88.
Spain, Germany and Britain acted to bolster lenders as the sector felt the impact of rising bad loans, while Treasury Secretary Timothy Geithner said over the weekend some banks still need large amounts of help.
Contributor's website: http://thevoice.name
Filed Under The Voice
Content posted by users from other sites is posted for commentary and news purposes under fair use and each author is responsible for their own postings and a particular posting should not be construed as being endorsed by this site or its owner.
Please Note: The comments section is for both the registered users of this web site as well as non-registered users. All wishing to post comments must comply with our Commenting Rules or risk having their comments stricken. Comments do not necessarily reflect the views of the ownership of this site and should not be taken as such just because they are visible and posted here.
Leave a Reply
Loading ...Recommended Reading:
