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Sweet … maybe I’ll actually get a raise this next year … Morgan Stanley profit blew past forecasts Wednesday, with revenue surging, mainly due to an increase in sales and trading revenues. Morgan Stanley’s net income per diluted share, including discontinued operations, was 99 cents a share in the first quarter, compared with a net [...] SEC Attorneys Probed For Insider Trading CBS News has learned that two attorneys at the Securities and Exchange Commission (SEC) are under “active” criminal investigation by the FBI for trading stocks based on inside information. Accusations against the two lawyers – a man and a woman whose names have not been released – are [...] Now I know why the A-Train hates Goldman Sachs so much … looks like all the Goldman alums in guv-mint decided to give them a bigger break than they gave Morgan Stanley in determining worst-case scenarios in the recent stress tests performed by the Federal Reserve. Goldman’s Test Stresses Morgan Stanley Why did the stress [...] Cuomo Blasts Big AIG Payouts – WSJ.com New York Attorney General Andrew Cuomo said Tuesday that American International Group Inc. granted retention bonuses of $1 million or more to 73 people in its AIG Financial Products subsidiary, including 11 persons who no longer work at the company. In a letter to House Financial Services Committee [...] 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 [...] Perhaps if Apple would offer some of those features that everyone knows that the iPhone is actually capable of, but which are not being offered because of some sort of political backoffice wranglings between Apple and AT&T; features like MMS (multimedia messaging service) and tethering the iPhone to use it as a modem/access point for [...] ‘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 [...] What Carriers Aren’t Eager to Tell You About Texting – NYTimes.com TEXT messaging is a wonderful business to be in: about 2.5 trillion messages will have been sent from cellphones worldwide this year. The public assumes that the wireless carriers’ costs are far higher than they actually are, and profit margins are concealed by a [...] 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 [...] Here’s a thought. A $700-billion cost to the American taxpayer would come only if every single one of the mortgages that the government buys up defaults … that’s a lot of defaults. There’s a lot of people out there that will do whatever they can to keep their homes, which means a good chunk of [...] |
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