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Lehman Brothers to lay off 1,500
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...
Would private banks have fared better?
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...
Richard Bove is in his prime
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...
Lehman Brothers in need of massive surgery?
"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...
Covered bond market to become a reality
The Treasury, after talking to 50 or 60 institutions, is pushing for the creation of a "covered bond market" as a way to provide liquidity to banks while assuring investors their money is safe. Read more...
Hedge funds to give up on fixed income?
The credit crunch continues to reverberate through much of Wall Street, eating away at jobs and forcing more write downs at most investment banks. One view was that Read more...
Hedge funds' 13D workaround challenged
There was a time when an investment firm's disclosure that it had purchased more than 5 percent of company's stock was big news. It often suggested that a company might be in play. But hedge funds Read more...
Feds crack down on stock lending abuses
As the number of hedge funds willing to short stocks has grown in recent years, so has the complexity of finding enough shares to borrow. The stock-lending arena turned into a rough-and-tumble sort Read more...
NYSE's SPAC move: Misguided?
We've spoken a lot about the rise of special purpose acquisition companies, or SPACs. They were all the rage over the past few years, as more top investment banks got involved with them. They were Read more...
Whitney more cautious on second quarter
Meredith Whitney, of Oppenheimer, is telling clients that broker-dealers' second-quarter earnings are under pressure, reports MarketWatch. One new twist comes from the credit defaults swap market. Read more...