4:26am ET
Investing
AIG (AIG) Bailout And The Price Of Doing Business
One of the things that Congress and the Administration knows but do not want to admit in public is that bailouts are messy affairs where most of what is planned does not…
MS Coverage Page 54
4:22pm ET
Banking, finance, and taxes
AIG (AIG) Discloses Who Received Payments From Federal Funding (I.E. Goldman Sachs (GS) Had A Good Day
After days or pressure from Congress and the public, AIG (AIG) released data about which counterparties to it credit default swap portfolio got large chunks of money from the federal government bailout…
6:47am ET
Investing
Top Analyst Upgrades (BIG, COF, DFS, HPQ, JBLU, MS, MOT, TSN, USB)
These are the top analyst upgrades and positive calls we have seen from Wall Street this Wednesday morning: Big Lots (BIG) Raised to Overweight at JPMorgan. Capital One (COF) Raised to Buy…
3:06pm ET
Banking, finance, and taxes
Meredith Whitney Double-Slams Credit, Sort Of… (GS, MS, C, BAC)
Influential bank analyst Meredith Whitney just gave a Maria Bartoromo an interview on CNBC after her op-ed piece in the WSJ called credit cards and credit lines the next wave of problems…
8:24am ET
Investing
Morgan Stanley (MS) And Citigroup (C) To Pay $3 Billion To Brokers? Not If Treasury Says “No”
Wall St. keeps coming up with new ways to waste money and upset Congress, the Administration, and the public. Part of the argument made by large financial firms for paying out big…
3:58am ET
Media
Media Digest 2/12/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, Congress is ready to pass the stimulus package. Reuters reports that Chinalco is putting $17.5 billion into Rio TInto (RTP). Reuters reports that Wall St. CEOs were attacked by…
8:55am ET
Investing
What To Expect In House Financial Grilling of Bank CEO’s (BAC, C, JPM, WFC, GS, MS, STT, BK)
There is not going to be much positive press today about the U.S. banking sectors. The top CEOs of America’s banks are going to testify before the House Financial Services Committee. Despite…
1:07pm ET
Jobs
A Danger In Pay Caps: Business Failure (GS, JPM, MS, C, AIG, BAC)
Pendulums often swing too far in either direction. It has been shown that complete deregulation or total self-regulation leads to "Big Business Gone Wild." And now the pendulum in regulation over executive…
6:27am ET
Investing
Creating A Single National Stock Brokerage Company (BAC)(UBS)(MS)(C)
When Bank of America (BAC) bought Merrill Lynch, one huge retail brokerage team was married with a smaller one. Morgan Stanley (MS) will probably take over the Smith Barney unit of Citigroup…
4:02am ET
Media
Media Digest 2/3/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, Bank of America (BAC) and Merrill Lynch did agree on a bonus package for employees before the merger. There had been questions about the approval. Reuters reports that January…
4:01am ET
Media
Media Digest 1/30/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, Republican may keep fighting Obama on the stimulus package. Reuters reports that Roche dropped its bid on Genentech (DNA) to $42 billion. Reuters writes that the Administration will release…
7:06am ET
Investing
Top Pre-Market Analyst Upgrades (GSK, JPM, LEAP, MS, NLS, PSO, PETM, TOT)
These are some of the top pre-market analyst upgrades we have seen early this Monday morning with more than two and a half hours to the market open: GlaxoSmithKline (GSK) Started as…
6:02am ET
Investing
Banks: Losing $100 Billion In One Quarter (C)(JPM)(WFC)(BAC)(GS)(MS)(UBS)(CS)(DB)
The conventional wisdom was that 2008 would be the worst year for bank losses in years, but that it would be the bottom. The damage of mortgage-backed securities has moved into the…
4:45am ET
Banking, finance, and taxes
Why Citigroup (C) Never Mattered
Sandy Weill created Citigroup (C) because he wanted to run the world’s largest financial services company. He had lost this opportunity earlier in his career, but he did find a way eventually…
9:47am ET
Banking, finance, and taxes
Citi Fesses Up On Smith Barney & Morgan Stanley Reports (C, MS)
Citigroup Inc. (NYSE: C) has issued a statement regarding the many news reports on the possible combination of Smith Barney with Morgan Stanley (NYSE: MS).