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Reply #58: BNY Mellon to take big charge for bailing out funds with Lehman holdings [View All]

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antigop Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-24-08 10:07 AM
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58. BNY Mellon to take big charge for bailing out funds with Lehman holdings
http://financialweek.com/apps/pbcs.dll/article?AID=/200...

Bank of New York Mellon on Wednesday said it will take a $425 million third-quarter charge to bail out at least 10 funds affected by Lehman Brothers bankruptcy, in a bid to help investors avoid losing money.

The company said it was providing support to four money market mutual funds operated by its Dreyfus unit, five commingled funds used mainly to hold cash overnight, and an institutional fund used to reinvest cash collateral within the bank’s securities lending business.

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  -STOCK MARKET WATCH, Wednesday September 24 ozymandius  Sep-24-08 04:29 AM   #0 
  - Today should be interesting.  truthisfreedom   Sep-24-08 04:31 AM   #1 
  - Market WrapUp  ozymandius   Sep-24-08 04:33 AM   #2 
  - Today's Reports  ozymandius   Sep-24-08 04:36 AM   #3 
  - RPT-US mortgage mortgage applications fell in latest week  UpInArms   Sep-24-08 07:20 AM   #25 
  - U.S. August existing home sales down 2% to 4.91 mln pace (slower than expected)  Roland99   Sep-24-08 09:13 AM   #49 
  - Oil rises above $108 as investors eye US bailout  ozymandius   Sep-24-08 04:37 AM   #4 
  - Buffett's Berkshire betting $5 billion on Goldman  ozymandius   Sep-24-08 04:41 AM   #5 
  - Bloomberg.com is saying  NeoConsSuck   Sep-24-08 04:51 AM   #8 
  - U.S. futures up; eyes on Bernanke, Paulson, Goldman  ozymandius   Sep-24-08 04:57 AM   #10 
  - Analysis: This is not a confidence measure.  ozymandius   Sep-24-08 04:59 AM   #11 
  - Maybe now that it's a real bank he feels comfortable investing.  Prag   Sep-24-08 08:34 AM   #37 
  - FBI investigates four Wall Street firms over sub-prime meltdown  ozymandius   Sep-24-08 04:42 AM   #6 
  - Paulson protected Goldman from the worst of this  Changenow   Sep-24-08 08:05 AM   #31 
  - Marcy Kapture ROCKS! "they want mama to make it all better"  TalkingDog   Sep-24-08 09:40 AM   #54 
  - Buffett's "time bomb" goes off on Wall Street  ozymandius   Sep-24-08 04:48 AM   #7 
  - Tax-Break Package Passes in the Senate  ozymandius   Sep-24-08 04:52 AM   #9 
  - Why should foreign subsidiaries defer paying their taxes? -nt  trudyco   Sep-24-08 01:06 PM   #74 
  - Banking Expert: Bailout Not Necessary, Industry Can Take Losses  ozymandius   Sep-24-08 05:05 AM   #12 
  - "clearing the detritus from the last speculative bubble"  Ghost Dog   Sep-24-08 05:37 AM   #17 
  - So a few or a lot of people in the banking / finance industries loose their shirts  nolabels   Sep-24-08 08:57 AM   #45 
  - EU says doesn't need U.S.-style toxic asset plan  Ghost Dog   Sep-24-08 10:25 AM   #60 
     - The U.S. doesn't need the bailouts, either. They just WANT the bailouts.  loudsue   Sep-24-08 02:47 PM   #81 
  - Republicans to Cheney on $700-billion bailout: We're not buying it  radfringe   Sep-24-08 05:05 AM   #13 
  - The electorate is breathing down their necks over this.  ozymandius   Sep-24-08 05:14 AM   #16 
  - You beat me to it, Ozy.  Tansy_Gold   Sep-24-08 07:03 AM   #22 
     - And I agree Tansy, Cheney looks terrible.  MadinMo   Sep-24-08 07:38 AM   #28 
        - He's worried the bailout bill won't pass  DemReadingDU   Sep-24-08 07:44 AM   #29 
           - He's worried about Halliburton's no bid contract.  Dr.Phool   Sep-24-08 08:06 AM   #32 
  - My God he looks old  Changenow   Sep-24-08 08:14 AM   #33 
  - Which brings up an old niggling worry of mine  Tansy_Gold   Sep-24-08 08:48 AM   #43 
  - Cheney is sick.  TalkingDog   Sep-24-08 09:32 AM   #52 
     - hate for him to suffer  eowyn_of_rohan   Sep-24-08 10:00 AM   #56 
  - My time here is short this morning.  ozymandius   Sep-24-08 05:07 AM   #14 
  - Pool winner today? Only 275.93 to tie, 275.94 to win...  radfringe   Sep-24-08 05:13 AM   #15 
  - Maybe not today. Futures up about 1%.  Roland99   Sep-24-08 05:41 AM   #18 
  - Good Mornin` fellow seekers of information  Buttercup McToots   Sep-24-08 05:46 AM   #19 
  - Aw, sorry to hear that.  Prag   Sep-24-08 08:41 AM   #39 
     - Yes, I need it...Thank you  Buttercup McToots   Sep-24-08 11:24 AM   #64 
  - sit on your cash.  truthisfreedom   Sep-24-08 06:18 AM   #20 
  - last night talked with a friend about the bailout mess/stock market  radfringe   Sep-24-08 08:16 AM   #34 
  - Debt: 09/22/2008 9,785,866,165,910.40 UP 58,856,546,016.06 (A lot!)  Festivito   Sep-24-08 06:30 AM   #21 
  - I expect we'll see the PPT fairies being stingy with their dust over the next week or so.  MilesColtrane   Sep-24-08 07:06 AM   #23 
  - dollar watch  UpInArms   Sep-24-08 07:13 AM   #24 
  - Pickens hedge funds down about $1 billion this year: report  UpInArms   Sep-24-08 07:23 AM   #26 
  - Don't worry Boone.  MilesColtrane   Sep-24-08 08:17 AM   #35 
  - No Money to Gamble: Unexpectedly, Las Vegas hit by downturn  UpInArms   Sep-24-08 07:25 AM   #27 
  - My sister works at Harrah's and has a lot of seniority.  Dr.Phool   Sep-24-08 08:04 AM   #30 
  - BushCo™ Bail Out Imperative  MilesColtrane   Sep-24-08 08:29 AM   #36 
  - First, but not last Lampoon I ever bought....n/t  TalkingDog   Sep-24-08 09:35 AM   #53 
  - Yay! A radfringe 'toon!  Prag   Sep-24-08 08:39 AM   #38 
  - thanks - they are being featured on World News Trust  radfringe   Sep-24-08 08:45 AM   #42 
  - since AIG has now been removed from the DOW  dweller   Sep-24-08 08:42 AM   #40 
  - Good luck tomorrow.  Prag   Sep-24-08 08:45 AM   #41 
  - Is someone blackmailing the economy?  antigop   Sep-24-08 08:53 AM   #44 
  - fwiw, link to Ben Stein's article  antigop   Sep-24-08 09:03 AM   #47 
  - Henry M. Paulson's Public Financial Disclosure Report for Calendar Year 2006  antigop   Sep-24-08 08:59 AM   #46 
  - 10:09am - Morning glory has faded  Roland99   Sep-24-08 09:11 AM   #48 
  - ~10:20 ET: After a lukewarm rise, now a lukewarm fall...  Prag   Sep-24-08 09:21 AM   #50 
  - Bank of New York's $22.5 billion headache  antigop   Sep-24-08 09:31 AM   #51 
  - the 'war on tight credit' = 'the war on terror' ?  muleboy303   Sep-24-08 09:45 AM   #55 
  - PIEHOLE EFFECT PIEHOLE EFFECT... bwaaaahaaahaaaa  radfringe   Sep-24-08 10:04 AM   #57 
  - wonderful  dweller   Sep-24-08 10:38 AM   #61 
  - The 19% PIEHOLE that it be  nolabels   Sep-24-08 10:46 AM   #63 
  - Gotta get out there and "sell" the idea, damn it!!! Come on, this isn't about  54anickel   Sep-24-08 01:31 PM   #76 
  - Bush's Blather Will KILL the Bailout For Sure!  Demeter   Sep-24-08 04:58 PM   #93 
  - BNY Mellon to take big charge for bailing out funds with Lehman holdings  antigop   Sep-24-08 10:07 AM   #58 
  - 11:18:am - Mexed Missages  Roland99   Sep-24-08 10:19 AM   #59 
  - France's EDF agrees $23 bln bid for British Energy  Ghost Dog   Sep-24-08 10:39 AM   #62 
  - LIBOR: 3.43  Roland99   Sep-24-08 11:33 AM   #65 
  - FEAR  DemReadingDU   Sep-24-08 12:09 PM   #69 
  - Bennie and Paulie in da House ....  dweller   Sep-24-08 11:41 AM   #66 
  - Anyonehave the volume numbers? My hunch is it's a very light day so far.  Roland99   Sep-24-08 11:55 AM   #67 
  - Extremely light.  Prag   Sep-24-08 12:06 PM   #68 
  - They decided to let the monkey out of his cage tonight after all.  Dr.Phool   Sep-24-08 12:23 PM   #70 
  - "Calamity Jane" Perino  there-s a   Sep-24-08 04:01 PM   #92 
  - Propagandist to open piehole at 9pm EDT "US faces financial calamity"  Roland99   Sep-24-08 12:43 PM   #71 
  - WHOAAAA! LOOK OUT LOOK OUT!!!  radfringe   Sep-24-08 12:54 PM   #72 
     - With apologies to Jimi...... today's theme song  TalkingDog   Sep-24-08 02:55 PM   #84 
  - Krugman's cynical humor  antigop   Sep-24-08 01:03 PM   #73 
  - Bailie Mae? Hanky Panky?  Dr.Phool   Sep-24-08 01:24 PM   #75 
  - McCain trying to weasel out of debate on Friday to concentrate on crisis.  Dr.Phool   Sep-24-08 02:03 PM   #77 
  - This could mean that Washington Mutual is going to fail on Friday.  Finnfan   Sep-24-08 02:20 PM   #79 
  - According to chatter on CNBC, Reid and Dems are working a deal.  Dr.Phool   Sep-24-08 03:26 PM   #91 
  - NOW McCain decides it's time to go show up and do his job ?  muleboy303   Sep-24-08 02:50 PM   #82 
  - Could someone explain this to me?  truthisfreedom   Sep-24-08 02:11 PM   #78 
  - It is a superset of credit default swap. In other words a  WakingLife   Sep-24-08 02:25 PM   #80 
  - LIke WOW then, i never dreamed we would be participating in gambling sceme.......  nolabels   Sep-24-08 02:55 PM   #85 
  - And that is why  Mojorabbit   Sep-24-08 02:54 PM   #83 
  - And it is all unregulated thanks to the Commodity Futures Modernization Act of 2000  PA Democrat   Sep-24-08 03:04 PM   #87 
  - I think of them as sports bettting on financial events  htuttle   Sep-24-08 03:11 PM   #88 
  - Traders, Guns and Money: Knowns and Unknowns in the Dazzling World of Derivatives  fedsron2us   Sep-24-08 05:10 PM   #95 
  - Seriously..... down 3 and a half points....  TalkingDog   Sep-24-08 03:04 PM   #86 
  - Goldman's shares get suspicious boost pre-Buffett  formercia   Sep-24-08 03:15 PM   #89 
  - I think the settling is over....  Roland99   Sep-24-08 03:23 PM   #90 
  - So, this is what a REAL Market Looks Like  Demeter   Sep-24-08 05:38 PM   #96 
  - Afternoon Marketeers.....  AnneD   Sep-24-08 05:01 PM   #94 
  - We all thought you just decided to spend the day in bed.  Dr.Phool   Sep-24-08 06:09 PM   #97 
  - MarketWatch: China asks local lenders not to lend to U.S.  dweller   Sep-24-08 11:07 PM   #98 
     - It's happened.  Dr.Phool   Sep-24-08 11:35 PM   #99 
     - Withdrawals hit Bank of East Asia  fedsron2us   Sep-25-08 03:47 AM   #100 
 

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