Financial news on September 27, 2008

Business and Financial news
A Pigeon and a Stock Trader Are Stranded on an Island, See ...

On Wall Street, a black day is almost always followed by black humor in trading floor jokes, finance blogs, videos circulated on YouTube and doctored photos sent by e-mail between traders. Read more..

By TIM ARANGO - The New York Times

Fortis, the Belgian Bank, Replaces Its Top Executive

The financial group announced that Filip Dierckx would succeed Herman Verwilst as chief executive as its shares fell more than 20 percent amid concerns about its liquidity. Read more..

By JAMES KANTER - The New York Times

Politics Take Hold of Bailout Proposal

The Bush administration and Congressional negotiators agreed to meet some demands of rebellious House Republicans as they sought to resurrect a rescue plan. Read more..

By DAVID M. HERSZENHORN - The New York Times

S.E.C. Wins Ruling on Conrad Black

The former chairman of Hollinger International violated federal securities laws by making false statements about the company’s financial dealings, a federal judge ruled. Read more..

By BLOOMBERG NEWS - The New York Times

Smithfield Foods Issues Statement on Debt

The world’s biggest pork processor said it would be in compliance with all its financial covenants through at least April after its shares plunged to a seven-year low in New York trading. Read more..

By BLOOMBERG NEWS - The New York Times

Wall Street Climbs Back From Early Losses

Stocks were mixed as the Dow broke through into positive territory despite the collapse of a deal on the government’s financial bailout package. Read more..

By MICHAEL M. GRYNBAUM and CARTER DOUGHERTY - The New York Times

WaMu Tarnishes Star Equity Firm

When WaMu collapsed on Thursday in the biggest bank failure in United States history, TPG’s David Bonderman’s reputation was suddenly at risk of becoming a devalued asset. Read more..

By GERALDINE FABRIKANT - The New York Times

See what else happened on September 27, 2008