According to Reuters, JP Morgan (JPM) lost $1.5 billion in July. Reuters writes the UBS (UBS) posted a huge loss and will split itself into a wealth management operation and an investmen…
Morgan Stanley (MS) thought it could pull a "monkey see, monkey do" act with NY State Attorney General Andrew Cuomo. The investment house offered to buy back $4.5 billion in auction-rate securities…
NY Attorney General Andrew Cuomo wants blood from the banks that marketed auction-rate securities but have not made settlements with him. In his mind, Wachovia (WB), Morgan Stanley (MS), and JP Morgan…
There has been a great deal of talk about how the New York State Attorney General and the SEC has done companies and individual investors a service by getting Merrill Lynch (MER),…
The Fed has been testing investment banks to see what will become of their balance sheets and liquidity if the credit markets signal another hurricane watch. According to the FT, "Bankers with…
Douglas A. McIntyre Now that Citigroup (C), UBS (UBS), and Merrill Lynch (MER) have agreed to buy back a total of about $40 billion in auction-rate securities, Wall St. will have to hazard a guess…
Morgan Stanley (MS) has gone to some of its private clients and told them they cannot borrow more on their home equity lines of credit. The customers thought they had signed up…
Douglas A. McIntyre According to Reuters, a new tally of votes for the Yahoo! (YHOO) board election shows a high percentage of protest votes. Reuters reports that the Fed held rates steady and indicated it…
According to Reuters, T Boone Pickens is seeking an "army" of business leaders and citizens to back alternative energy. Reuters reports that Starbucks (SBUX) posted if first loss as a public company…
In an ironic bit of sloganeering, the current Merrill Lynch (MER) corporate promotion is "Even In Today’s Economy, There Are Smart Places For Your Money." It may not be lost on the…
Newly-minted legend says that short-selling put Bear Stearns out of business and has swamped the stock prices of Lehman (LEH), Fannie Mae (FNM), and Freddie Mac (FRE). To keep evil from further…
Gatehouse Media (GHS) Newspaper company down again. Falls to $1 from $19. Merrill Lynch (MER) More write-off fears. Sells off to $23.64 from 52-week high of $89.23. Citigroup (C) Bad Q2 on…
According to Reuters, the Anheuser-Busch (BUD) board is under pressure to justify what it did not take InBev’s buy-out offer. Reuters writes that overseas money is reluctant to invest in US car…
Wall St. is selling off Morgan Stanley (MS) before the open on weak earnings. Shares are down over 3% MS reported income from continuing operations for the second quarter ended May 31,…
Douglas A. McIntyre According to Reuters, AIG (AIG) fired its CEO and replaced him with the company’s chairman. Reuters reports that Carl Icahn says the Yahoo! (YHOO) deal with Google (GOOG) has merit. Reuters writes…