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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 [...] You know what I find frustrating? From today’s Wall Street Journal: And now, for what you’ve all been waiting for: Morgan Stanley’s compensation totals: Sure, the bank’s swing to a fourth-quarter profit of $617 million gets all the headlines, but here at Deal Journal, our eyes naturally seek out the compensation line on that profit [...] You’ve heard of pay-for-play, right? How about pay-for-pay? Here’s an idea that seems to make some sense. Don’t limit Wall Street pay and bonuses, but require higher FDIC premium payments if a bank’s pay structure is deemed to be “risky”, such as incentive bonuses for writing more loans (which leads to bankers writing riskier loans). [...] 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 [...] 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 [...] 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 [...] |
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