Hedge fund managers are fuming at new political rhetoric against them and their huge paydays.» Read More
The $20 billion loan JPMorgan Chase is providing to AT&T to finance the $39 billion acquisition of T-Mobile USA has raised a lot of eyebrows on Wall Street.
Assuming the deal gets the necessary regulatory approval, it will be the largest single-bank takeover financing in history. Although there have been bigger financings in the past, these are typically handled by a syndicate of banks operating together.
The dismal home sales numbers released Monday morning are the latest to illustrate a developing disconnect between consumer sentiment and behavior, on the one hand, and between business plans, on the other.
The Treasury Department’s move to start unloading its portfolio of mortgage debt likely will add one more point of pressure—albeit a small one—to a housing market hardly in a position for additional stress.
Later this month the government plans to shed about $10 billion in its $142 billion portfolio of mortgage-backed securities that were guaranteed by government-sponsored enterprises Fannie Mae and Freddie Mac. The sales then will happen incrementally over the next year or so.
Can any stock replace Citigroup at the top of the volume ticker?
Could things be getting so good in the US that even noted curmudgeon Meredith Whitney is finding reason to believe?
Answering such an improbable question requires perspective, as optimism from Whitney would be considered pessimism from most people.
The idea that bank CEO's would get richer—as a consequence of post-stress test dividends—began to spread days before the banks even announced their dividend disbursements last Friday.
"Where Will Warren Buffett Hide From Goldman Sachs?" [CNBC's Becky Quick]
AT&T deal to buy T-Mobile for $39 billion raises antitrust concerns [NYTimes DealBook]
JPMorgan is beating Goldman Sachs in M&A advice [Bloomberg]
Citigroup in reverse split, reinstates dividend [Reuters via CNBC.com]
Boeing flies its new plane [Yahoo Finance]
Listen to what happened at the Rajaratnam trial [CNBC's Scott Cohn]
JPMorgan Chase will cut about 5,000 jobs over the next year, as the bank closes branches and slims down operations, The Wall Street Journal reported.
Banks have been outperforming the market, and in the long term, technician Rich Ross sees a "beautiful breakout."
After Dick Fuld's first public speech since the crisis, this PR guy had one thing to say: Don't call it a comeback.