Fred Harteis News Articles - Only on Wall Street can billion-dollar bank losses be a good thing.

 

Stocks started off the second quarter with a soaring rally on Tuesday that sent the Dow Jones industrials up nearly 400 points, its best performance in two weeks. Investors seemed to take heart in a fresh round of mortgage-related write-offs at UBS and Deutsche Bank and a capital infusion at Lehman Brothers, the brokerage firm.

 

Despite the discouraging numbers — $19 billion in write-downs at UBS and nearly $4 billion at ...   more »