The U.K. government took dramatic action this weekend, injecting $64 billion of capital into three struggling banks. Such actions reflected to the spirit of the G7’s communiqué which pledged to “take decisive action” an
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Perhaps the Super Return conference, currently ongoing in Dubai, should search for a more appropriate name?
In a poll at the beginning of the conference, 56 percent of participants said the markets had not yet reached a bottom, but thought it was close.
Asked what private equity returns would be this year, 27 percent said “zero” and another […]
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From ClusterStock.com, Oct. 13, 2008: In case you missed it, here’s a summary of new Office of Financial Bailout head Neel Kashkari’s presentation this morning:We’re formulating all sorts of cool plans, including:trash mortgage-backed securities removal t
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It’s nickel and dime time for banks as they come under pressure to cut costs in order to survive the worst financial crisis in 80 years.
According to banking sources, a U.S. bank in Canary Wharf has banned colour printing and has asked employees in the back office to chip in 25 pounds each for the […]
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On the heels of the worst week in history, the prevailing wisdom on Wall Street is the stock market is now cheap, especially relative to Treasuries and most especially for long-term investors, With the S&P trading at 13 times expected 2009 earnings an
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With Treasury markets shut for Columbus Day, flight to the relative safety of T-bills will be muted, potentially limiting the downside in the stock market. So the timing may be perfect for a deal to sell a chunk of Morgan Stanley to Mitsubishi UFJ Financial Group. Morgan Stanley’s stock was up by a quarter before […]
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From ClusterStock.com, Oct. 13, 2008:Hand it to John Mack and Morgan Stanley, who somehow managed to persuade Mitsubishi to go forward with its $9 billion investment on terms that are extraordinarily favorable to Morgan Stanley. …
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