Fed lent to all comers in crisis

Banks weak and strong from all over the world flocked to the Fed's discount window during the financial crisis.

Among two of the biggest emergency borrowers were Germany's Depfa and Belgium's Dexia, with loans totaling $51 billion at the end of October 2008. U.S. banks hit up the window as well, with Washington Mutual borrowing billions in the week before its collapse.

Banks are open

Documents released Thursday show that supposedly healthy banks MORE

Ben Franklin and the art of business development

What today's Internet entrepreneurs can learn from one of America's original founders

By Mike Volpi, contributor

In the late 1770s, America was a start-up nation that had declared war against the Microsoft or Google of its time. While the American entrepreneurs were courageous, industrious and intelligent, they were facing a formidable foe – England had the most powerful military and sophisticated technology of the day. Amongst the leaders of the newly-founded nation, MORE

S&P's Bernanke moment?

Don't look now, but the rating agency just issued a report with this headline:

Municipal Risk For Rated U.S. Banks Appears To Be Contained

You might have thought no one in the financial markets would ever use that word with a straight face after Fed chief Ben Bernanke's March 2007 testimony before Congress on the subprime crisis. As you may recall, he said [emphasis is mine]:

Contain your subprime enthusiasm

Although the turmoil in the MORE

Irish bank bailout hits $99 billion

Ireland's banking crisis took yet another turn for the worse Thursday.

The government said its latest effort to purge lenders that gorged themselves on inflated property loans during the bubble will set taxpayers back 24 billion euros ($34 billion).

The announcement by finance minister Michael Noonan brings the tab for public support of the country's banks to $99 billion. That's a staggering 40% of annual economic output. A comparable figure in the MORE

Selling America: The view from a bear's chair

From equities to Treasuries, the global macro strategist Russell Napier can't find much to be hopeful about in the U.S. these days. He shares his views on the Fed, China, and how to fix the banks with a Warren Buffett tax.

The outlook is bleak from this seat.

FORTUNE - Russell Napier wants to make a couple of things clear. First, says the global macro strategist for brokerage house CLSA, MORE

Bailed-out Ally files for IPO

The government is getting ready to start cashing out of another bailout.

Ally Financial filed Thursday to sell shares to the public. The company didn't say how much money it expects the offering to raise, but a report in the Detroit News puts the likely figure at perhaps $6 billion or so. All the proceeds will go to taxpayers as Treasury whittles down a 74% stake in the lender.

All told the MORE

PIMCO chief: Yup, our equity trades on SecondMarket

PIMCO boss Mohamed El-Erian was in Times Square this morning, for a wide-ranging interview with Reuters editor-at-large Christa Friedland. Lots of talk about Japan, Greek tragedies and the like.

Outside reporters were allowed in the door, but Reuters HQ is a couple hundred miles south of my current location. Too bad, because I wanted to ask El-Erian about a New York Observer report that PIMCO equity had begun quietly trading on SecondMarket, MORE

David Sokol tries to defend himself

I don't know what compelled David Sokol to appear on CNBC this morning without an attorney at his side, to discuss his resignation from Berkshire Hathaway (BRKA). Don't get me wrong, I'm thrilled he did, because it made for a much better interview. But it also could make for better background, if the SEC ultimately chooses to pursue an investigation (WSJ says they're considering it).

First, it kind of strains credibility MORE

Private equity fund-raising hits the skids

Source: Preqin

Private equity deal-making may be on the rise, but private equity fund-raising is a very different story.

Research firm Preqin this morning sent over preliminary Q1 data, showing that it was the slowest quarter for final fund closes since Q3 2003. Only 89 funds held final closes last quarter, raising a measly $39.9 billion. Venture funds led with 26 final closes, followed by buyout (20) and real estate vehicles MORE

Pre-Marketing 3.31.11

* What did he trade, and when did he trade it? A timeline of David Sokol's Lubrizol purchases

* Dean Takahashi: The 7 ideas everyone can learn from game designers

* Felix Salmon: Alan Greenspan squanders his final reserve of credibility

* Audio: Biz Stone tells Howard Stern about Facebook's failed attempt to buy Twitter

* Morning Call: U.S. futures look flat, London rises early, European shares fall ahead of Irish bank tests and the Nikkei gains 0.5%.

* The MORE