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Ever wanted to know what causes a major investment bank to go belly-up? On January 29, 2008, Lehman Brothers Holdings Inc. (“LBHI”) reported record revenues of nearly $60 billion and record earnings in excess of $4 billion for its fiscal year ending November 30, 2007. During January 2008, Lehman’s stock traded as high as $65.73 [...] Bankers Win Big in Toxic Pay Plan – WSJ.com Credit Suisse Group’s novel plan to pay bankers with a brew of its own toxic bonds and corporate loans has gotten off to an unexpectedly strong start, which could put further political pressure on other Wall Street firms to change how they pay their employees. Late [...] Not entirely happy by the potential dilution to my stake in my company, but certainly happy that if all goes as planned, we will be able to exit TARP by month-end. Morgan Stanley to Raise $2.2 Billion in Bid to Exit TARP – WSJ.com Morgan Stanley plans to raise $2.2 billion stock offering, in a [...] Tuesday’s market: Citigroup up. Morgan Stanley up. Wells Fargo down. Now comes news that Bank of America will need to raise about $35 billion in additional capital, on top of the $45 billion they’ve already received. Will be interesting to see what happens there. In longer term prospects, American International Group, Inc. is trading with [...] Wells Fargo May Need Capital – WSJ.com An initial U.S. stress test identified Wells Fargo & Co. as among the banks needing a buffer against future losses, said a person close to the company. But it was unclear Monday whether Wells would be forced to raise fresh capital or if regulators would accept its argument [...] BofA’s Mantra: We’re Not Citigroup – WSJ.com Bank of America Corp. [NYSE: BAC] Chief Executive Kenneth Lewis is eager to prove one thing above all else: His company isn’t Citigroup Inc. [NYSE: C] As shares of big banks have fallen in the face of speculation that they might be nationalized by the government, Mr. Lewis [...] ‘Bad Bank’ Funding Plan Starts to Get Fleshed Out – WSJ.com WASHINGTON — The Obama administration, filling in some of the blanks in its bank bailout, is considering creating multiple investment funds to purchase the bad loans and other distressed assets that lie at the heart of the financial crisis, according to people familiar with [...] The return of economic nationalism | The Economist MANAGING a crisis as complex as this one has so far called for nuance and pragmatism rather than stridency and principle. Should governments prop up credit markets by offering guarantees or creating bad banks? Probably both. What package of fiscal stimulus would be most effective? It varies [...] |
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