… but at least there’s a semi-reasonable explanation for the most widely reported statistic regarding 2010 compensation; one that I can live with if I have to. Now, if we could just get our stock back out of the doldrums and performing again, at least my worries about the future would diminish, even while I’m [...]
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NEW YORK (Dow Jones)–Morgan Stanley paid employees an average of $256,595 each in 2010, an increase of 7.5% from 2009. The firm set aside $16 billion for compensation and benefits last year, an overall 11% increase from the previous year as net revenue jumped 15%. Morgan Stanley has 62,542 employees, an increase of 3% from [...] It’s going to be really interesting to see how this plays out … Lehman Brothers Holdings Inc.’s estate sued J.P. Morgan Chase & Co., alleging J.P. Morgan illegally siphoned billions of dollars from Lehman in the days before the troubled investment bank filed for the largest bankruptcy in U.S. history. The lawsuit alleges that [...] The Murder of Lehman Brothers: An Insider’s Look at the Global Meltdown On the first anniversary of the murder of Lehman Brothers, Joseph Tibman, a 20-year veteran and senior investment banker, reveals in plain English, the people and forces that share responsibility for this catastrophe. His shattering account is told as only a true Lehman [...] 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 [...] David Weidner’s Writing on the Wall: Bill Clinton’s legacy is our financial disaster – MarketWatch … the biggest mistake of the Clinton years regarding Wall Street and the one that rings loudest today was the repeal of Glass-Steagall, a 1933 law that effectively split investment banking and brokerages from commercial banks. In the years leading [...] A-train railing against free-market realities. Okay, so it’s not truly a free market, but there are limits to what banks receiving funds under TARP can do; limits designed to protect the American taxpayer as a senior investor (the investments are in preferred securities after all), whilst not placing excessive limits on free-market flexibility for the [...] Fingers crossed … toes crossed … legs crossed … arms crossed … eyes crossed … sign of the cross … MUFG Aims to Sweeten Terms of Deal for Morgan – WSJ.com Morgan Stanley and Mitsubishi UFJ Financial Group Inc. worked Sunday to finish their $9 billion pact, as both sides pushed to keep the general [...] This week was totally unreal. Over the course of the past 6 weeks, since the beginning of September, I have lost over 50% of my net-worth; almost all of which is in my retirement plan. On the other hand, I have been averaging my cost-basis down in Morgan Stanley, picking up another 150 shares yesterday, [...] |
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