Business & Financial

Washington Mutual Finally Fails: Prediction Markets Right

It took a while but the bank atop online prediction market intrade.com most likely to fail, Washington Mutual, finally did.

Submitted by Jagajeet Chiba on, Sep/26/2008

Vice Shares Like Gambling Help to Stimulate the Economy

The portfolio of "unethical" shares which we picked on this week last year has unsurprisingly lost value in the past 12 months, but has beaten the general market, as well as the FTSE For

Submitted by C Costigan on, Sep/25/2008

Cryptologic Predicts Losses of $3.6 Million in Quarter

While long established online gambling software provider, Cryptologic (TSX:CRY) , was anticipating operating losses of $1 million to $1.5 million in the current quarter, the foreign exchange loss w

Submitted by Jagajeet Chiba on, Sep/25/2008

Prediction Market Traders Optimistic Following Bush Bailout Speech

The DOW closing higher Thursday than the previous day had a 62 percent chance of occurring overnight with minimal betting volume taking place at intrade.com

US Government to Approve Financial Bailout at 80 Percent Say Bookies

The online prediction market intrade.com listed the US Congress to approve a government bailout of banks on/before 30 Sep 2008 with an 80 percent chance

Submitted by Jagajeet Chiba on, Sep/24/2008

Paulsen Bailout Plan Highlighted: No Court Review

The Legislative Proposal for Treasury Authority to Purchase Mortgage-Related Assets has been disclosed. Pay special note to Sec. 8. Review below.

(a) Authority to Purchase.--The Secretary is authorized to purchase, and to make and fund commitments to purchase, on such terms and conditions as determined by the Secretary, mortgage-related assets from any financial institution having its headquarters in the United States.

Submitted by Guest on, Sep/23/2008

Washington Mutual Still High on Radar of Bank Failure Prediction Markets

Washington Mutual Inc.

Submitted by Jagajeet Chiba on, Sep/23/2008

Goldman Sachs and Morgan Stanley to Become Holding Banks

WASHINGTON (Associated Press)  - The Federal Reserve said Sunday it had granted a request by the country's last two major investment banks - Goldman Sachs and Morgan Stanley - to change their stat

Submitted by Guest on, Sep/21/2008

Betting on Stocks Still Available…. Just Not From SEC

The Securities and Exchange Commission early Friday imposed a temporary emergency ban on short-selling of financial company stocks, a trading method that bets the stocks will go down.

Submitted by Jagajeet Chiba on, Sep/19/2008

Short Selling Banned in London: New York Next

Financial regulators in the U.S. and U.K., attorneys general in New York, Texas and Connecticut, and the three largest U.S.

Submitted by Jagajeet Chiba on, Sep/18/2008

Some Around Vegas Panic In Wake of Nevada Bank Closure, Market Meltdown

Southern Nevadans are panicking and considering extraordinary steps to avoid losing more money in the stock market, real estate and even bank savings accounts, one local banker told the Submitted by Jagajeet Chiba on, Sep/18/2008

Obama’s Lead Grows as Economy Falters

This week's Wall Street meltdown could have been just what the doctor ordered for an ailing Barack Obama campaign.

After losing serious ground to Republican John McCain, Obama is now listed back up to -152 odds at Bookmaker.com. Heading into this week, the two candidates were dead even while prediction markets and polls gave McCain a slight edge.

McCain took a hit along with Wall Street it seems.

Submitted by C Costigan on, Sep/18/2008

William Hill, Rank Group and Ladbrokes Share Price Surge

British online gambling firms rose more than 6 percent in heavy London trading Thursday, an optimistic sign in a troubled economic climate.

Submitted by C Costigan on, Sep/18/2008

The A.I.G. of Poker: Some Sub-Prime Bets were 20-1 Long Shots

With the recent $85 BILLION (with a B folks!) dollar tax bailout of insurance giant AIG, one has to wonder why the citizens of the US are being forced to bankroll a degenerate poker player like the

Submitted by Guest on, Sep/18/2008

Washington Mutual Heading for Sale According to Reports

Ailing bank Washington Mutual Inc.

Submitted by Jagajeet Chiba on, Sep/17/2008

Barney Frank a Busy Man Amidst Wall Street Turmoil, Online Gambling Bill

Chairman of House Financial Services Committee, Barney Frank, has been a busy man these days.

Submitted by C Costigan on, Sep/17/2008

DOW to Close by 50 points or More on Previous Day Say Gamblers

65 percent of gamblers Wednesday morning believed that the DOW would close by 50 points or more from Tuesday's close according to the intrade.com predic

Submitted by Jagajeet Chiba on, Sep/17/2008

AIG Was Likely to Fail Wednesday: Bailed Out by US Government

If a financing solution is not reached, American International Group (A.I.G.) may file for bankruptcy as soon as Wednesday, a person briefed on the matter told the New York Times Monday night.

Submitted by Jagajeet Chiba on, Sep/16/2008

Las Vegas Begs Poker Players to Start Playing “regular” games

Forbes.com announced last week that Vegas gambling revenue declined 14 percent in the month of July. Shortly following that announcement it was leaked that leaders from the large casinos such as The Bellagio and The Wynn have asked big poker players like Doyle Brunson and Phil Ivey to start playing "regular" games like Craps and Blackjack so that they have a shot at their money too.

When reached for comment, Phil just stared down the camera.

Submitted by Guest on, Sep/16/2008

PartyGaming Added to Prestigious FTSE4Good UK 50 Index

Fifteen UK companies, including online gambling firm PartyGaming, have been added to the FTSE4Good UK 50 Index of companies striving for good corpor

Submitted by Jagajeet Chiba on, Sep/16/2008

Wall Street Meltdown, Economic Crisis Giving Obama a Boost

Monday's Wall Street meltdown following the closure of Lehman Brothers and "desperation" acquisition of Merrill Lynch by Bank of America wasn't bad news to everyone it seems.

Submitted by C Costigan on, Sep/15/2008

Possibly a Thousand More Banks Will Close Says Analyst

Wilbur Ross, chairman and CEO of WL Ross & Co., provided CNBC viewers with a most ominous prediction.

Submitted by Jagajeet Chiba on, Sep/15/2008

Is Washington Mutual Going to be the Next Bank to Fail?

With news that Lehman Brothers is facing immanent bankruptcy and Mer

Submitted by Jagajeet Chiba on, Sep/14/2008

Party Gaming a No Show in US Court

While unrelated to their plight in the US since UIEGA, Party Gaming (who owns Party Poker) has taken the extreme measure of refusing to show up for a court battle against a US-based slot machine ma

Submitted by C Costigan on, Sep/14/2008

50 Percent Chance US Will Go Into Recession By End of 2008

Isn't the US already in a recession? Not quite....but almost!

Americans are losing their jobs at a steady clip, Ben Steverman of Business Week reported this week. According to a Labor Dept. report released Sept. 5, the unemployment rate hit 6.1% in August, and U.S. payrolls dropped 84,000-with both numbers worse than economists were expecting.

Submitted by Jagajeet Chiba on, Sep/11/2008

Wachovia in Better Shape According to Prediction Markets

Despite receiving the most betting volume, the gambling majority does not believe that Wachovia will be closing before the year's end.

Submitted by C Costigan on, Sep/10/2008

PartyGaming Latest to Cut Jobs in Online Gambling Sector

PartyGaming, once the largest online poker firm, has announced it will be laying off more than 100 employees in its Gibraltar office.

Submitted by C Costigan on, Sep/05/2008

Southwest Airlines Lets the Industry Have it During 2008 NFL Opener

Southwest Airlines - the official sponsor of the NFL - let the airline industry have it Thursday night with an ad that reinforces the idea that Southwest, unlike most of its competitors, does not c

Submitted by Payton on, Sep/04/2008

PartyGaming Indian Co-Founder Appears on Forbes 15 Asian Billionaire List

Anurag Dikshit, with net worth of $1.6 billion, spearheaded the development of technology that helped in the launch of the online poker boom.

Submitted by C Costigan on, Sep/04/2008

Breaking News

Ex-Dean Foods Chairman With Ties to Billy Walters Gets 2 Years in Prison in Fraud Case

Ex-Dean Foods Chairman With Ties to Billy Walters Gets 2 Years in Prison in Fraud Case

A former Dean Foods chairman who admitted feeding inside information to an influential Las Vegas gambler has been sentenced in New York to two years in prison.

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