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    Expect a bonanza of broker earnings this month with Goldman (GS) reporting Tuesday, Morgan Stanley (MS) on Wednesday and Bear Stearns (BSC) on Thursday. How should you trade it?

  • Banking stocks aren't dead, said Richard Bove, financial strategist at Punk, Ziegel; but they have to be judged differently going forward. Bove gave his insights into which Wall Street firms are the strongest-positioned -- and which will see their troubles getting even worse.

  • Goldman Sachs

    At Goldman Sachs, success has become something of a liability.

  • U.S. securities regulators sued two former financial advisers at Morgan Stanley Friday for defrauding at least 50 mutual fund companies and their shareholders.

  • A Bank of America branch.

    Bank of America, the second-largest U.S. bank, is winding down a $12 billion money-market type fund for  institutional investors, CNBC has learned.

  • Are bonds about to lose their flight-to-quality premium? The Fed, the executive branch, the legislative branch, and now even the Bank of England (which cut its key rate a quarter point to 5.5 percent) are working to resolve credit problems. The 10-year is looking toppy here.

  • Stocks are getting a bounce on ADP's jobs report, which already has some on Wall Street revising their view on the government jobs report due Friday and is adding to the debate on what the Fed will do next week. The ADP National Employment report, released this morning, showed a surprisingly strong gain in November private sector jobs of 189,000.

  • Futures up a bit on the strong ADP report. This is a clear sign that the market wants a decent jobs report, even if it might slightly reduce the chance of an aggressive Fed rate cut. As noted yesterday, financials analysts are now cutting 2008 estimates.

  • Josef Ackermann, Chief Executive of Deutsche Bank, has turned down an approach from Citigroup about taking the CEO job  vacated last month by Charles Prince, the Financial Times reported.

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    In a fresh blow to the financial sector, JP Morgan Chase cut the earnings estimates for several big Wall Street firms, sending their shares sharply lower.

  • Forgive me if I'm all thumbs and short thoughts today as I'm blogging by B'berry from the big housing conference in Washington, DC. So far I've heard Countrywide's Angelo Mozilo argue with Robert Toll over what's to blame for the housing problem, poor liquidity or bad lending standards (you can guess who was on which side).

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    After Morgan Stanley (MS) fired Zoe Cruz last week, some are wondering how long before Morgan’s CEO John Mack gets ousted. CNBC’s Charlie Gasparino is hearing whispers.

  • One of the biggest problems the Street has is that no one knows how to value assets that are plummeting: in particular mortgage backed securities and their derivatives, and (to a lesser extent) land in markets that are experiencing severe downturns.

  • Morgan Stanley may face a fiscal fourth-quarter write-down of as much as $5.7 billion for mortgage-related losses, CNBC has learned.

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    This week $13.5 billion flowed into the financials. Do these purchases of subprime distressed assets mark a bottom for bank stocks?

  • 2007 Chrysler 300

    A $4 billion sale of loans being raised by automaker Chrysler following its takeover by buyout firm Cerberus has been indefinitely postponed, the Wall Street Journal reported.

  • A Wells Fargo Bank in Palo Alto, California.

    Wells Fargo believes the nation's housing slump is the worst since the Great Depression and is far from over, Chief Executive John Stumpf said Thursday.

  • NovaStar Financial  shares fell as much as 63 percent Thursday after the troubled subprime mortgage lender posted a $598 million third-quarter loss and said bankruptcy is possible.

  • Investment analysis firm MSCI, which is being spun off by Morgan Stanley, soared in its stock market debut on Thursday, a day after raising $252 million with an initial public offering that priced at the top of expectations.

  • United Rentals said on Wednesday that Cerberus is not prepared to proceed with the purchase of the company on the terms set forth in its July takeover agreement.