All across the country, people are puzzling over mortgage rates, specifically the fact that rates for jumbo loans are now lower than rates for conventional loans.
The conventional wisdom holds that the top executives of failed Wall Street banks got lucky in that they were never personally charged. EX-MFGlobal CEO Jon Corzine's name inevitably pops up when people think about those who got away clear. But in fact, Corzine is facing charges. He was hit with civil charges by the CFTC, which alleges a gross failure to supervise in the run-up to the commodities firm's spectacular implosion.
Does it make sense for Wall Street banks to be in the business of owning, storing and delivering physical energy stocks?
These days, adroit marketers understand that social media plays a huge role in creating buzz. Witness the case of Kevin Kaiser, a 26-year-old analyst at an outfit called Hedgeye Risk Management. He sent out an email to clients that was rather damning about Kinder Morgan, calling it a "a house of cards, completely misunderstood and mispriced."
A common refrain about the top banks is that while they have faced higher costs stemming from private and public litigation, earnings were strong enough that the costs were eventually absorbed without too much pain.
The media right now is obsessed with the 5 th anniversary of the collapse of Lehman Brothers. I personally have enjoyed the coverage and the many opinions expressed. Among the staples of this sort of coverage have been the "where are they now" slideshows that bring people up to date as to the fate of the key players. Some have fared well. Others remain pariahs. Some are struggling still to put the events of that fateful year behind them.
Thanks to Michael Heid, head of Wells Fargo mortgage business, the notion that "capacity management" is critical to the success of a mortgage lending operation is in vogue right now. You just have to be able to adjust your capacity so that it falls in line with actual demand, which makes sense from a shareholder point of view.
When Bank of America announced it would sell its remaining stake in China Construction Bank, the initial conclusion by many was that more western banks were bailing out of China, driven by disappointment.
If there's one thing that rankles critics of Wall Street's biggest banks, it's the fact that no one from Lehman Brothers, the collapse of which set a lot in motion, was ever charged with a crime.
Bank of America has recently settled two long-running discrimination complaints. The most recent settlement calls for the bank to pay $39 million to women who worked in its Merrill Lynch brokerage unit. That follows another that came to light a week earlier, calling on Merrill Lynch to pay $160 million to settle an eight-year-old racial discrimination suit filed on behalf of 700 African-American brokers.