What are the biggest ideas for M&A with big banks and fintechs. Here's a big roundup of deals so far and where it may go from here.
Morgan Stanley
More bank stress tests coming. Here's why U.S. banks are pushing back on how tests work.
More bank stress tests coming. Here's why U.S. banks are pushing back on how tests work.
Reminder to mortgage advisors who whine about regulation: investment advisors have it worse—they can’t use Twitter or LinkedIn. Today’s links include a great piece on this topic, plus career advice, using your house to get laid, two Top 10 lists, 7 signs of startup failure, the next financial crisis, and more. -Morgan Stanley’s Twitter Plans:
Future of Fannie & Freddie January is scheduled to be a big month for Freddie and Fannie, in that the Treasury is expected to release plans for their future. Merrill Lynch released some conjecture about upcoming news, which will probably come out after the State of the Union address on 1/25. Merrill reminds us that
Fed’s Conflicting Recovery Agenda The Federal Reserve Bank of New York has joined forces with BlackRock, PIMCO and other major bond investors in trying to force Bank of America to repurchase $47b of mortgages that were packaged into securities. Bank of America defended its position. “We’re not responsible for the poor performance of loans as
Fed’s Conflicting Recovery Agenda The Federal Reserve Bank of New York has joined forces with BlackRock, PIMCO and other major bond investors in trying to force Bank of America to repurchase $47b of mortgages that were packaged into securities. Bank of America defended its position. “We’re not responsible for the poor performance of loans as
Financial Reform Fact Sheet, And The Bill’s ‘Hotel California’ Provision Defined (Gipsy Kings Style)
Following yesterday’s announcement of sweeping financial reform from Senate Banking Committee Chairman Chris Dodd, here’s a good fact sheet summarizing key provisions of the full bill. Worthwhile read for anyone who’s tired of trying to decode healthcare bills. This financial bill isn’t as grey as healthcare bills, but passing it will be an equally tough
Warren Buffet Quote on Bank Tax In an interesting quote, Warren Buffett weighed in on the plan to tax banks. “I don’t understand plans for a bank tax – it just doesn’t make any sense to me that banks should be taxed to cover losses at other bailed-out companies, such as automakers, Fannie Mae, or
The CEOs of Goldman, Bank Of America, JP Morgan Chase, and Morgan Stanley went before the Congressional Financial Crisis Inquiry Commission today to revisit what happened during the heat of the financial crisis in 2008. Yesterday the NYT published a good list of questions that should be asked. Some are populist propaganda, but many are
The Wall Street Journal reports that, due to the federal tax credit to buy high-mileage cars, the Federal government is now paying Americans to buy golf carts. As it turns out, the IRS has ruled that golf carts qualify for the electric-car credit as long as they are also road worthy. The federal credit “provides
The woman applying for a job in a Florida lemon grove seemed way too qualified for the job. “Look Miss,” said the foreman, “have you any actual experience in picking lemons?” “Well, as a matter of fact, yes!” she replied. “I’ve been divorced three times.” 3 Bits of Good Mortgage Industry News We had three
“The acting chief financial officer of mortgage financier Freddie Mac, David Kellermann, was found dead Wednesday morning from an apparent suicide, police said. Authorities said there were no signs of foul play when officers were called to Kellermann’s home on Raleigh Hill Road shortly before 5 a.m., according to Fairfax County police spokeswoman Lucy Caldwell.
The House yesterday approved a 90% Wall Street bonus tax on a 328-93 vote. Below are excerpts from a WSJ report: The House measure was approved on a 328-93 vote and would impose a 90% surtax on bonuses granted to employees who earn more than $250,000 at companies that have received at least $5 billion
Citi + Morgan Stanley To Be Called CITIMORG According to current financial reports, a deal to combine the brokerages of Citigroup and Morgan Stanley — which would give Citi more cash, and Morgan Stanley more manpower — appears just days away. In light of the new venture with Morgan Stanley, the new entity name will
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