FierceFinance covers finance industry news with a focus on the major Wall Street firms, including news on Goldman Sachs, Bank of America, Citigroup, Morgan Stanley, the SEC, and more.
tail-risk protection costs soar
Institutional investors are making their voices heard when it comes to the Volcker Rule.
Moody’s to downgrade big U.S. banks
Credit rating company Moody’s has signaled that it will likely soon downgrade the debt of big U.S. banks. Big diversified banks like Bank of America, Citigroup, Wells Fargo and JPMorgan Chase...
Private equity faces new SEC inquiry, PR struggles
The private equity industry has shown a remarkable talent for flying under the regulatory radar--until just recently.
Settlement with Bear Stearns execs set to be announced
The criminal trial of Ralph Cioffi and Matthew Tannin, both hedge fund executives at Bear Stearns, ended with a much-discussed acquittal. The SEC continued with its civil case, and a trial was set to begin today. But a settlement has apparently been struck, details of which will likely be released soon.
Goldman Sachs loses another partner
DealBook reports that another Goldman Sachs partner is set to leave the firm.
Future of the big two GSEs
The government appears bent on sticking to its previously announced schedule for reforming the housing market mortgage finance machinery, which calls for the end of Fannie Mae and Freddie Mac in their current form.
Big Data: Smart move for the future
If you want to sound hip in a techno-sort of way--if only to prove you’re on top of big-think trends--you may want to sprinkle the term Hadoop into conversations. Hadoop is the open source...
Dick Bove on the mortgage settlement
While analysts maintain the $26 billion settlement between banks and states is a net positive, there have been plenty of critics. You can add Dick Bove to the list. In an interview with The Daily...
Congressman under investigation for insider trading
The media has gone to town on the issue of insider trading by powerful Congressmen. The chief culprit according to media reports has been Rep. Spencer Bauchus. Bachus reportedly received a...
@GSElevator not a real Goldman Sachs employee
Recall that supposed Goldman Sachs employee has been Tweeting via @GSElevator about the very funny things he hears riding the elevators at the gilded bank, recounting, for example, talk about the...
Deal's narrow immunity sparks concerns
The mortgage settlement between the top five mortgage banks and state attorneys general may indeed be a net positive in the short term, as it offers more certainty about the myriad state inquiries...
Banks face limited mortgage settlement fallout
The bottom-line impact of the ballyhooed $25 billion settlement between five big mortgage banks and nearly all states will likely be limited. Bank of America will contribute the majority of the...
JPMorgan: additional settlement reserves not necessary
Banks had already reserved against losses stemming from the mortgage settlement that was hammered out with state and federal regulators. We suggested that those reserves were probably adequate....
The future of NYSE Euronext
At NYSE Euronext, the question is: What now? It invested so much--some might say it bet the farm--on inking a deal with Deutsche Bourse, that it must now fight the perception that it is merely...
States, banks finally ink $26B mortgage settlement
After more than a year of talking, state attorneys general inked a $26 billion deal with banks to settle a litany of residential mortgage abuses.
Goldman Sachs might benefit from Volcker Rule
The conventional wisdom on the Volcker Rule is that it would hit trading-intensive firms the hardest. A JPMorgan analyst last year estimated that the rule would reduce U.S. bank’s revenue by up...
Impact of Wall Street clawbacks
Clawbacks have been in the news for much of the last year. But UBS kicked the discussion into a higher gear when it announced that it would be clawing back some bonuses paid for work in 2010. The...
Deutsche Bank caps bonuses
Deutsche Bank has taken a page from Morgan Stanley playbook on capping bonuses. But they have deferred bonuses awards (cash and stock) in excess of 200,000 euros, or about $265,000. Recall that...
Goldman Sachs' same-sex marriage support
Goldman Sachs has raised brows by throwing its support behind the Human Rights Campaign's effort to legalize same-sex marriages. For the movement, this is a big deal, as the firm ranks as one of...
Michael Klein wins on both sides of big deal
DealBook notes the rise of a one-man boutique, a highly specialized shop built on the enviable contacts of Michael Klein, the former Citigroup vice chairman. In 2008, he left the bank at the ripe age...


Latest Commentary