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News

TARP reversal hits Citigroup

While we have voiced support for the change in how Troubled Asset Relief Program (TARP) funds will be used, it's fair to say that the news is not good for all banks. Case in point: Citigroup. By one... Read more...

Prop trading desks: A thing of the past?

Prop trading isn't what it used to be. Traders in general are thought to be good candidates for downsizing right now. This is reflected by the fact that proprietary trading desks seem to be becoming... Read more...

Update: Bank of America remaking Thundering Herd

Bank of America's deal to buy Merrill Lynch afforded it the opportunity to remake the Thundering Herd of brokers for which Merrill Lynch was so well known. It also afforded the likes of Morgan... Read more...

What went wrong at Merrill Lynch?

The New York Times offers a long narrative about the fall of Merrill Lynch. The basic story line is that "two indispensable members of (Stan) O'Neal's clique"--Osman Semerci, who, among other things,... Read more...

What to do with the 10 percent deposit cap?

The 10 percent federal cap on ownership of U.S. deposits has drawn a lot of attention this year. Earlier, the view was that at least one bank, Bank of America, was constrained a bit in terms of... Read more...

Are a lot more job cuts coming?

Have we seen the worst of financial services job cuts? Well, here's one way to look at it: If banks were bent on maintaining their compensation ratio--that is, their compensation costs as a... Read more...

Bank of America's Merrill Lynch conundrum

If you take a look at the package that Bank of America is offering Merrill Lynch brokers, it's clear that it is mainly interested in keeping the really top producers--the big bulls in the Thundering... Read more...

Did disgraced Goldman Sachs analyst flee the country?

Remember David Pajcin, the former Goldman Sachs fixed-income analyst? Along with his partner in crime, he led a massive insider trading ring that spectacularly fell apart in 2005. The global insider... Read more...

As securities industry drowns, bonuses remain unsinkable

Stocks are plummeting, securities firms are toppling, a $700 billion government bailout is underway and Americans are furious over executive compensation. But even as financial markets flounder,... Read more...

Who really is the banker of the year?

The American Banker has announced its banker of the year: Bank of America CEO Ken Lewis. Now some of you might argue that this would have been a good year to simply not give an award. Others might... Read more...

Press Releases

Merrill Lynch Names Margaret D. Tutwiler Head of Communications & Public Affairs

NEW YORK, December 11, 2007 — Merrill Lynch & Co., Inc. (NYSE: MER) today announced that Margaret D. Tutwiler has been appointed senior vice president and head of Global Communications & Read more >>

ASSET4 Announces Strategic Relationship With Merrill Lynch

MERRILL LYNCH ACQUIRES GLOBAL LICENSE TO INCORPORATE ASSET4’S INVESTMENT INFORMATION MERRILL LYNCH TAKES MINORITY EQUITY STAKE IN ASSET4 NEW YORK and ZUG, Switzerland.-ASSET4 Ltd, a leading Read more >>

The Home Depot Agrees To Revised Terms of Sale of HD Supply

Transaction to Close August 30, 2007 ATLANTA, Aug 28, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- The Home Depot(R), the world's largest home improvement retailer, announced today that it Read more >>