Category Archives: banking

Monday Links Do The Twist

Enough links to keep anybody happy for at least an hour.
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Questions About Bear and Goldman’s Mortgage Exposures

Do banks only make money on mortgages by being long the market?
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JP Morgan Snubs Silverstein in Move Back Downtown

It’s interesting that Silverstein was willing to let JP Morgan fall through his fingers: there aren’t that many banks who want to move their headquarters to a new building in downtown New York, and he’s going to need to find three.
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Outsize Returns From Investing in Microfinance

Early investors in Compartamos got 100% returns on their investment, compounded over eight years.
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Goldman in Moscow

Goldman Sachs is a formidable force wherever in the world it operates. So it’s
likely to do well in Moscow, where it’s now announced
plans
to add another 25 bankers, at somewhere north of $5m per annum apiece.
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The RBS Consortium’s Huge Financing Line

The huge cash component of the RBS consortium’s bid for ABN Amro means that they have a lot of work to do in both the debt and equity markets.
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Private Equity Stumbles in Banking Arena

Bank regulators want to know a lot of information about the owners of the banks they regulate, especially if those owners are foreign.
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Bill Downe Still Hasn’t Resigned at Bank of Montreal

A major bank like BMO has no business using a tiny Valhalla-based brokerage to do substantially all of its energy trading.
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ABN’s Brazilian Gambit

ABN Amro and Barclays have just unveiled their latest weapon in the war against
the RBS-Fortis-Santander consortium which also wants to buy ABN. And it’s quite
a clever one
.
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The Epicurean Dealmaker

A great new blog.
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Citi’s $50 Billion Climate Pledge: Less Than Meets the Eye?

Citi has pledged to do things to help the environment. But it hasn’t pledged not to harm the environment even more.
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ABN War Descends Into Fiasco

If ABN CEO Rijkman Groenink had only done from the beginning what was best for his shareholders, rather than trying every underhanded method in the books to ensure that his bank wasn’t broken up, we wouldn’t be where we are now.
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Who Regulates Wal-Mart’s Bank in Mexico?

American bank regulators have no interest in Wal-Mart’s new Mexican bank. Mexican bank regulators have no interest in the bank’s parent. This is a problem.
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Who Should Banks Be Worried About?

It’s not hedge funds, and it’s not private equity.
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The $100 Billion Toy

It’s one step forward, two steps back for ABN Amro CEO Rijkman Groenink.
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Costas Implodes

John Costas thought he could run a hedge fund. He was wrong.
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Follow-ups: Chase, Rogoff

Chase responds to the security-breach video; Le Monde falls for Ken Rogoff’s fake Wolfowitz memo.
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Hostile Bankers

Is Fred Goodwin the only banker to have launched a hostile takeover bid?
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Giving Muckraking a Good Name

Chase leaves its customers’ information – names, account numbers, social security numbers, loan applications, you name it – in the trash outside its Manhattan branches.
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BofA Threatens to Sue ABN for Three Gazillion Dollars

Add a $220 billion lawsuit to the ABN Amro craziness.
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Rereading Swiss Profits in Dollar Terms

Weak results in Swiss francs look better in US dollars.
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RBS Goes Hostile

Fred Goodwin could be the only banker with the stones to launch a major hostile bid in the banking industry.
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When Analysts Don’t Talk to Management

Who are stock analysts for?
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When Banks Move Headquarters

Just as Barclays
is saying that it wants to move to Amsterdam, JP Morgan Chase is claiming
that it might consider moving to Stamford
.
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RBS-ABN-Barclays: Things Get Complicated

RBS CEO Fred Goodwin is one of the few individuals who has
been through a bidding war for a bank in the past, when he bought England’s
NatWest. This deal is much bigger, and much more complex. But if anybody can
navigate the complexities, Goodwin probably can. ABN Amro’s shareholders will
be cheering him on.
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