Bill Ackman is known for going all-in on his investments, and he's putting it all on Michael Bloomberg.» Read More
Wall Street's elite gathered at The Core Club in New York Thursday evening for a conversation with author William D. Cohan to discuss his new book “Money and Power: How Goldman Sachs Came to Rule the World” moderated by the New York Times’ Andrew Ross Sorkin, author of "Too Big To Fail".
By replacing Chuck Noski with Bruce Thompson in the spot of chief financial officer, Bank of America is marching down a path last trod by Lehman Brothers .
Munis rallied last week, after four weeks of falling prices and rising yields, according to The Bond Buyer newspaper . Similarly, outflows in muni bonds have slowed in recent weeks—prompting some to say that the market is starting to recover. Muni defaults were actually lower in the first quarter of 2011 than they were during the beginning of 2010.
In his latest weekly note, John Hussman once again states that markets are wildly overbought, etc.—the same thing he's been saying for awhile.
He does draw special attention to the fact all these bank CFOs have been resigning, and nobody seems to care int he market.
The news that Bank of America had hired Gary Lynch, formerly the General Counsel of Morgan Stanley, to the new post of global chief legal officer is a clear demonstration that the bank continues to play games with its shareholders. It is also giving rise to insider sniping about its general counsel.
Bank of America shares gave up more than 2 percent Friday on disappointing earnings. But a bad quarter may be the least of the bank’s worries.
The largest bank by deposits just lost its chief financial officer and just hired one of the most connected regulatory lawyers in the U.S.
Both events are alarming.
T. Rowe Price disclosed Friday that nineteen of its mutal funds hold shares of Facebook worth $190.5 million. While it is not unique for a mutual fund to hold shares of a private company, this could tell us something about Facebook's plans for an IPO.
What will define his legacy is whether the Fed went beyond its mandates and laid the groundwork for peril ahead.
Google's renamed parent company is set to become the latest investor to back Symphony. The FT reports.
The Fed cannot raise interest rates because the market is not pricing in a hike, Joseph LaVorgna told CNBC.