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NEWS
October 8, 2008
For stressed-out investors, this is not a time for the faint of heart. The Federal Reserve's plan to buy massive amounts of short-term commercial paper is just the latest extraordinary response to jittery investors who have left the financial markets high and dry as Wall Street's woes spill onto Main Street. Such bold government intervention is meant to allay fears and make it easier for businesses to borrow money. But the negative fallout from the credit crisis seems to have lost little momentum worldwide despite recent government bailouts and the Fed's stabilizing action yesterday.
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EXPLORE
October 9, 2012
The purpose of this letter is to express my strong objection to Baltimore County Executive Kevin Kamenetz's proposal to float a $250 million Pension Obligation Bond (POB). Words make it difficult to accurately express my opposition. I believe that it is a fiscally irresponsible and risky proposal to fix a problem. In my opinion, it represents an extreme amount of risk for the taxpayers of Baltimore County. You cannot borrow your way out of debt! Supporters of this financial gimmick generally hype the proposed benefits and rarely take into consideration the risk/reward consequences.
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BUSINESS
July 4, 1995
Financial markets are closed today for the Fourth of July. Normal operations resume tomorrow.
NEWS
July 16, 2012
A report that theU.S. Department of Justicehas opened criminal investigations into allegations that Wall Street's biggest banks conspired to rig interest rates tied to trillions of dollars in investments should hearten Baltimore City officials who have filed a related civil suit. It's still too early to know whether Baltimore can force Wall Street to repay the millions of dollars in losses it claims to have suffered, but as the lead plaintiff in a case involving hundreds of investors who believe there were bilked by the alleged scheme, the city is right to make every effort to hold the perpetrators accountable.
BUSINESS
December 25, 2001
U.S. financial markets will be closed today for Christmas.
BUSINESS
November 25, 2005
Because financial markets were closed yesterday in observance of Thanksgiving, no tables appear in today's editions.
BUSINESS
November 23, 2007
Because U.S. financial markets were closed yesterday for Thanksgiving, no market data appear in today's editions.
BUSINESS
September 7, 1993
Because U.S. financial markets were closed yesterday for the Labor Day holiday, there are no market listings in today's editions.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | July 9, 2012
You're likely part of the largest financial scandal in the world today if you have an adjustable-rate mortgage or a private student loan. Or live in Baltimore. The city is suing more than a dozen major banks, claiming the institutions conspired to manipulate the London Interbank Offered Rate, or Libor. This is a benchmark used to set interest rates on variable-rate credit cards and mortgages plus trillions of dollars' worth of financial instruments, including some purchased by the city of Baltimore.
EXPLORE
November 24, 2011
When the economy is at its worst, it's generally those who were in need to begin with who suffer the most. During times like these, the agencies they rely on to help them get by are similarly struggling to make ends meet. Just like the department stores, nonprofits look forward to the holidays as the time when a goodly portion of their annual income arrives. But with wages stagnating and unemployment lingering at 9 percent, donations don't come in at the same clip they did before the recession of 2008.
BUSINESS
By Hanah Cho, The Baltimore Sun | February 15, 2011
With the financial markets falling apart in late 2008, the parent of Baltimore County Savings Bank figured it couldn't hurt to have more capital on hand. So BCSB Bancorp applied for the federal banking bailout program and received $10.8 million in aid, believing the U.S. Treasury's stated intention that the investments would be available only to "good banks," said Joseph J. Bouffard, the bank's president and chief executive. Given the public's negative perception of the Troubled Asset Relief Program, or TARP, Bouffard was thrilled last month when his Perry Hall-based company repaid the money in full, plus dividend payments it has already made, becoming the latest bank to exit the controversial program.
NEWS
October 19, 2010
Peter Morici writes that "Democrats deserve to lose Congress" (Oct. 19)? Please, Mr. Morici, your column contains too many startling oversimplifications. China entered the World Trade Organization while Bill Clinton was president, but with support — or pressure — from many large corporations that then outsourced thousands of jobs to lower paid workers. Their loyalty was to profits, not American workers. Deregulation of the financial markets and an unnecessary war that was fought on credit are the main causes of our current predicament.
BUSINESS
By Gus G. Sentementes | gus.sentementes@baltsun.com | January 29, 2010
Fueled by a steady recovery in the financial markets and increasing investor confidence, T. Rowe Price Group reported Thursday sharp increases in revenue and profit for last year's fourth quarter. The Baltimore money manager had revenue of $542.6 million in the quarter - a 30 percent increase over the $415.9 million it posted in the same quarter in 2008. Net income climbed to $152.5 million, or 57 cents per share, up from $24.3 million, or 9 cents per share, in the year-earlier quarter - an amount that reflected a one-time charge of $88 million related to the firm's investments in sponsored mutual funds.
BUSINESS
By Gus G. Sentementes | gus.sentementes@baltsun.com | January 28, 2010
Fueled by a steady recovery in the financial markets and increasing investor confidence, T. Rowe Price Group on Thursday reported sharp increases in revenue and profit for last year's fourth quarter. The Baltimore money manager had revenue of $542.6 million in the quarter — a 30 percent increase over the $415.9 million it posted in the same quarter in 2008. Net income climbed to $152.5 million, or 57 cents per share, up from $24.3 million, or 9 cents per share in the year-earlier quarter — an amount that at the time reflected a one-time charge of $88 million that detracted from greater profitability.
BUSINESS
By Jim Puzzanghera and Jim Puzzanghera,Tribune Washington Bureau | February 27, 2009
WASHINGTON -The White House raised the prospect yesterday that the price tag for bailing out the nation's financial system could more than double to nearly $1.5 trillion. President Barack Obama's 2010 budget outline, released yesterday, warns that, should economic conditions worsen, an additional $750 billion could be required on top of the $700 billion financial rescue fund authorized by Congress last fall. "We hope that it will not be necessary," Peter R. Orszag, director of the Office of Management and Budget, said of doubling the fund.
NEWS
October 8, 2008
For stressed-out investors, this is not a time for the faint of heart. The Federal Reserve's plan to buy massive amounts of short-term commercial paper is just the latest extraordinary response to jittery investors who have left the financial markets high and dry as Wall Street's woes spill onto Main Street. Such bold government intervention is meant to allay fears and make it easier for businesses to borrow money. But the negative fallout from the credit crisis seems to have lost little momentum worldwide despite recent government bailouts and the Fed's stabilizing action yesterday.
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