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Investment Banks

Fed Cuts Interest Rate By 3/4 Point

Reuters | Posted 05.25.2011 | Business

The Federal Reserve slashed a key U.S. interest rate by three-quarters of a percentage point Tuesday, a substantial cut but smaller than many in finan...

Citigroup To Cut 2,000 More Jobs

New York TImes | Posted 05.25.2011 | Business

Citigroup plans to lay off another 2,000 investment bankers and traders before the end of the month, people close to the situation said on Wednesday. ...

A Note To the Employees Of Bear Stearns

Stanley Bing | Posted 05.25.2011 | Business
Stanley Bing

I'm sure your eyes goggled when you saw it too. JP Morgan paid a couple or three hundred million for a company worth incalculably more. It's stunning.

Profits At Goldman, Lehman Slashed In Half

MarketWatch | Greg Morcroft | Posted 05.25.2011 | Business

Wall Street titans Lehman Bros. and Goldman Sachs, at the center of a credit storm swirling through the global financial markets, both said Tuesday th...

Ask The Ben Bernanke 8-Ball!

236.com | Posted 05.25.2011 | Business

Economic meltdown looms, and Federal Reserve Chairman Ben Bernanke is doing what he does best: lowering interest rates. At least, that's what financia...

Fed and Rival Bail Out Bear Stearns

AP | STEPHEN BERNARD and JOE BEL BRUNO | Posted 05.25.2011 | Business

NEW YORK — On the verge of a collapse that could have shaken the very foundations of the U.S. financial system, investment bank Bear Stearns Cos...

Blair Gets Closer To Predicted 40 Million Pound Salary

Daily Mail | Posted 05.25.2011 | Business

Tony Blair was a step closer to his predicted £40million a year salary today after being signed up by a second financial firm. The former prime mini...

Regulators Eye Possible Insider Trading At Banks

Wall Street Journal | MARK MAREMONT and SUSANNE CRAIG | Posted 05.25.2011 | Business

In the spring of last year, two investment arms of J.P. Morgan Chase & Co. began accumulating shares in Rural Cellular Corp., a small Minnesota provid...

Merrill Sells $6.2 Billion Stake To Temasek

AP | Posted 05.25.2011 | Business

Investment bank Merrill Lynch & Co. said Monday it sold a stake in itself to Temasek Holdings and Davis Selected Advisors for $6.2 billion as it looks...

Morgan Stanley's Mack: $9.4 Billion Loss "Embarrassing"

Silicon Valley Insider | Henry Blodget | Posted 05.25.2011 | Business

We are fans of Morgan Stanley CEO John Mack, but we were annoyed by his description of the incineration of $9.4 billion as "embarrassing." It's not "e...

Does Goldman Deserve Its Golden Status?

Seeking Alpha | Posted 05.25.2011 | Business

Goldman Sachs (GS) continues to be the favorite investment bank for many, but market instability and its premium valuation has analysts debating its p...

Morgan Stanley Sets Price For China Deal

AP | Posted 05.25.2011 | Business

Morgan Stanley and the Chinese government said Monday that the U.S. investment bank has determined the range of prices to be used when China's interna...

Stocks Sink On Bad Morgan Stanley Loss

AP | Madlen Read | Posted 05.25.2011 | Business

Stock was poised to open lower Wednesday as investors awaited results from the Federal Reserve credit auction held Monday and digested Morgan Stanley'...

Bear Stearns Sinks, Posts Huge Quarterly Loss

AP | Posted 05.25.2011 | Business

Bear Stearns Cos., the No. 5 U.S. investment bank, said Thursday a bigger-than-expected writedown of its mortgage portfolio caused a substantial quart...

Wall Street Bonuses Surge 14 Percent Despite Dismal Earnings

AP | Joe Del Bruno | Posted 05.25.2011 | Business

This might have been one of Wall Street's most dismal years in a decade, but that hasn't stopped bonus checks from rising an average of 14 percent. F...

Not So Golden: Morgan Stanley Reports Bigger Than Expected Losses

AP | Joe Bel Bruno | Posted 05.25.2011 | Business

Morgan Stanley, the No. 2 U.S. investment bank, on Wednesday reported a larger-than-expected fiscal fourth-quarter loss due to a $9.4 billion writedow...

Bankers Face Grim Truth: Worst Is Yet To Come

New York Times | MICHAEL J. de la MERCED | Posted 05.25.2011 | Business

As the credit crisis sweeps wildly through Wall Street, major investment banks face a grim truth about their already-slumping profits: the worst is ye...

Goldman Sachs Still Golden

AP | Joe Bel Bruno | Posted 05.25.2011 | Business

Goldman Sachs Group Inc. on Tuesday gave a cautious outlook for Wall Street in 2008 because of the ongoing credit crisis, even as the world's largest ...

Less-Than-Merry Merrill Employees See Bonuses Slashed

CNBC | Charlie Gasparino | Posted 05.25.2011 | Business

It's shaping up to be a blue bonus season for employees at Merrill Lynch. Probable, continued massive writedowns at the investment bank are weighing ...

What Credit Crisis? Goldman Rakes In The Cash

New York Times | JENNY ANDERSON, LANDON THOMAS Jr. | Posted 05.25.2011 | Business

For more than three months, as turmoil in the credit market has swept wildly through Wall Street, one mighty investment bank after another has been br...

Merrill Lynch Posts $2.2 Bil Loss

Washington Post | Tomoeh Murakami Tse, Renae Merle, Howard Schneider | Posted 05.25.2011 | Business

Merrill Lynch on Wednesday posted a loss of $2.2 billion -- its first quarterly loss since 2001 -- which coupled with a poor homes sales report and a ...

UBS Warns Of More Bad News To Come

MarketWatch | Simon Kennedy | Posted 05.25.2011 | Business

Swiss giant UBS said Tuesday its investment-banking arm probably won't return to profit in the fourth quarter after the division took around $3.6 bill...