The dollar jumped against the yen on Wednesday after the Federal Reserve rescued insurer American International Group, easing fears about a financial system crisis. The Fed said it would lend up to $85 billion to AIG, once the largest insurer in the world, in a two-year plan aimed at saving the insurer from a “disorderly failure” that could damage the global economy. The U.S. action eased worries about the stability of the U.S. financial system and helped high-yielding currencies like the Aus

JA Solar (JASO) shares are down for a second-straight day on concerns about complications related to a stock-lending agreement with Lehman Brothers in connection with a May 2008 convertible note offering. Lehman yesterday filed Chapter 11. This morning, the company noted that in May it raised $400 million via the convert deal; in connection with the offering, the company entered a stock lending deal with Lehman covering 6.56 million shares. In a statement, JASO said it is “unaware of the inten

What a horrendous day. Black Monday was just awful for investors. And that’s after Treasury Secretary Hank Paulson called the day’s trading “orderly” considering the bankruptcy of Lehman Brothers Holding on Sunday night. Orderly it wasn’t. The S&P 500 and the Dow posted their third-worst point declines in history on Monday and are now down more than 23% from their October 2007 all-time highs. The MSCI World Index is now down more than 25% off its high, and the MSCI Emerging Markets Index