Jon Horvath testified last week about the pressure he faced as an employee at SAC Capital to come up with illegal inside information, an "edge" that would help his boss, Michael Steinberg, stay ahead of the game.
To many, the idea that the JPMorgan board would impose strict discipline directly on Jamie Dimon seems far-fetched. But some subtle moves of late could foreshadow that directors intend to get more aggressive.
It is a time-honored notion that cutting the rate on reserves is expansionary because it prods banks to pass on the rate reduction to consumers. But in an era where rates are all too close to zero, that may no longer hold true.
Jon Horvath, the star witness for the prosecution in the Michael Steinberg trial, took the stand. He provided only preliminary information, but hinted at the potential bombshells to come.
Returns on equity for the biggest banks are not where they need to be. This could lead to a change in the industry, including the possibility of breaking up some of the larger, struggling operations, a move that seemed unfathomable until recently.
Goldman Sachs is releasing its end of the year trade idea list.
On one fateful day, John Stecher went to the bank to directly plead his case with the manager. At that point, he became distressed while feeling shortness of breath and eventually suffered a heart attack.
How important are CFOs to banks? Based on their compensation as a group in 2012, one could easily conclude that they are more critical than in most industries.
Right now, many banks still seem to relying on an aging narrative built on extreme cost cutting. But at some point that will no longer be good enough.
It's rare that a high-ranking executive of a Wall Street bank is actually charged with criminal violations, much less sent to prison. But that's exactly the case with Kareem Serageldin, who DealBook calls "one of the most senior Wall Street officials to serve time for criminal conduct during the financial crisis."