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Even as executive pay emerges as an issue in the bailout plan haggling in Washington, some are speculating that the era of big pay has ended on Wall Street. Independent investment banks are dead. The... Read more...
TheDeal.com offers an interesting take on the Lehman Brothers failure. Lehman's liabilities totaled $613 billion at the time of its bankruptcy filing. Unsecured claims of the top 30 claimants show... Read more...
The Lehman Brothers news, the AIG fiasco and the Merrill Lynch deal offer up quite a cocktail for the markets to digest. It's fair to say that there's a lot of acid in stomachs out there, still.... Read more...
Morgan Stanley--one of the two last full-service independent investment banks--reported results a day earlier than scheduled. Thankfully, it did not add to the drumbeat of depressing news. Like... Read more...
What to make of the pyrotechnics from a regulatory point of view? You could argue it two ways: When push came to shove, Henry Paulson and Tim Geithner somehow pulled off a workable rescue, aided in... Read more...
This wasn't supposed to happen. Some people thought it couldn't happen. Lehman Brothers couldn't be another Bear Stearns because the Fed had extended a novel credit window to it (and other investment... Read more...
The New York Times reports that Lehman Brothers will lay off about 6 percent of its workforce, or about 1,500 employees. That brings the total axed jobs to 7,500 since June 2007. You have to think... Read more...
The New York Times' Deal Professor raises an interesting point: Would top investment banks have fared better had they remained partnerships instead of converting to public companies? One could easily... Read more...
We've noted that analyst Richard Bove is a "reporters' best friend" sort of analyst. At 67, he's been covering banks for 26 years and he's definitely in his prime--he's gotten better with age. "Bove... Read more...
"When gangrene strikes, amputation is sometimes the only sure remedy. Lehman Brothers may need to lop off two limbs." So says Breakingviews. All the attention was... Read more...