Promontory Financial is not well known -- not even in the banking industry. But it is no stranger to controversy.
Many people will be tempted to applaud the news that Morgan Stanley's wealth management division is starting a new fund that will target companies with women on their boards.
In stunning news, SAC Capital has been charged with insider trading and has settled for a record fine.
In a reasonable request, the Federal Reserve Board asked banks to hold off on announcing capital return plans until after the board rules "yea" or "nay" on specific plans. One might think that banks would be more than willing to honor this request in light of the humiliation some suffered when they suggested publicly that dividend hikes were on the way, only to see the Fed rebuff their plans, leaving them with lots of egg on the face.