Banking Industry news from FierceFinance
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Stealth layoffs hitting Wall Street
It's not paranoia if they're really after you. And so it goes on Wall Street. Financial institutions have announced some 65,000 layoffs since summer, and people are understandably nervous. The New Read more...
Ready for 'write-ups' in the second quarter?
Breakingviews notes another reason to think that the worst of the credit crisis may have passed. Credit default swaps on collateralized debt obligations and leveraged loans have staged impressive Read more...
Second-quarter earnings still a question mark
Goldman Sachs analyst William Tanona has reduced his second-quarter earnings estimates at Bear Stearns, Lehman Read more...
Whitney more cautious on second quarter
Meredith Whitney, of Oppenheimer, is telling clients that broker-dealers' second-quarter earnings are under pressure, reports MarketWatch. One new twist comes from the credit defaults swap market. Read more...
Banking industry future still cloudy
So is the worst really over? We've been hearing as much from lots of executives as of late. But not everyone is buying it. Case in point: Former Fed official Vincent Reinhart says banks face an Read more...
Are prime consumers the next big worry for banks?
We've spoken ad nauseum about the risks of subprime debts that have filtered through the financial system in many surprising ways. But a lot of prime borrowers have been silently struggling through Read more...
More on SWFs and top banks
We've noted that sovereign wealth funds, despite the political controversy, represent a vast source of new business of Wall Street firms. IDD fleshes out the idea a bit. Read more...
BlackRock's Fink stays in the news
We've become accustomed to reading about Larry Fink, the CEO of asset manager BlackRock, of late. When CEO jobs at Merrill Lynch and Citigroup opened up, he was thought to be a candidate. When the Read more...
Top banks tap investment-grade market
Ever so quietly, the investment-grade market has heated up. Financial News Online reports that the volume of domestic corporate investment-grade bond issuance in April was the second-highest monthly Read more...
Residence of choice for Wall Street bigs
Erin Callan, the CFO at Lehman Brothers and perhaps the most powerful woman on Wall Street, has bought a place at 15 Central Park West, Read more...