Tag:
Credit Crunch
Latest Headlines
Latest Headlines
Legal burdens over MBS continue to mount
When Bank of America announced it had agreed to pay $8.5 billion to settle a suit by aggrieved MBS holders, the knee-jerk reaction was to conclude that it--and the industry--was making great strides in putting the credit crunch behind it. But in just a few short weeks, we're seeing just the opposi
Prime brokerage market heats back up
The more things change, the more they stay the same in the prime brokerage industry. While revenues across the industry are down, the battle to build assets from hedge funds has grown, as the business looms as strategic and stable in the aftermath of the credit crunch. If you can lock in hedge fun
Goldman Sachs' lead in trading dwindles
Is Goldman Sachs (NYSE: GS ) losing its touch when it comes to trading? It may be more a case of competitors willing to jump into the fray and aggressively compete.
Recall that in the aftermath of the credit crunch, a lot of banks scaled back. Goldman Sachs was happy to fill the void, and t
Vision Capital ensnared in PIPE deals probe
We've noted how hard it is to stay on top once you've made it to the pinnacle of the hedge fund industry. Stupendous returns year after year are hard to generate; the credit crunch marked a stumbling block for many. This brings us to the case of Vision Capital, founded by two visually impaired men
Goldman Sachs quant plans comeback
Recall that Ray Iwanowski co-managed Goldman Sachs' one-time flagship Global Alpha hedge fund, which in its heyday was a high-flyer. It earned a terrific reputation, one of the early quant successes. But then came the credit crunch, and investors turned on the fund harshly. Iwanowski and co-manage
More civil fraud charges coming against Wall Street?
The paucity of criminal indictments in the wake of credit crunch has surprised some. It's been two years since Lehman Brothers ( Lehman Brothers news) failed, and many are still waiting for charges to be filed. My sense is the Ralph Cioffi and Matthew Tannin not guilty verdicts have really
Move over Goldman Sachs: Morgan Stanley's trading shines
Morgan Stanley (NYSE: MS ) was criticized for cutting back its trading activity in the wake of the credit crunch, ceding the market to companies such as Goldman Sachs (NYSE: GS ), who took advantage of wide spreads and reduced competition to generate record trading revenues. Morgan Stanley v
Wells Fargo loses in securities lending jury trial
In a case with potentially large implications, a jury decided that Wells Fargo ( NYSE: WFC ) breached its fiduciary obligation to four nonprofits, who were participating in a securities lending program. Such programs have generated controversy across the industry in the wake of the credit crunch
Securitization of delinquent loans heats up
In the immediate aftermath of the credit crunch, some commentators were more than willing to lump the whole idea of securitization in with other Wall Street woes. That was always a bit naive. But some may detect some irony now that securitized deals may come to the rescue of one section of the non
Bank of America's sorry succession planning
If there is one thing the sad CEO search at Bank of America ( BAC ) underscores, it's this: The bank's board did a terrible job with succession planning.
TheStreet.com weighs with a critical look, giving the board an "F" and assigning blame: "Primary blame for the lack of a succession pl
