Asides

Foreclosure Fish

By The Prince ⋅ May 9, 2008 ⋅ Post a comment

8 May 2008 - This is one of the more interesting Wall Street Journal stories the Prince has seen this year. Now if we could on find a fish that could eat up all that toxic mortgage paper and take out the pipeline of bridged leveraged loans.

BofA May Renegotiate CFC Purchase

By The Prince ⋅ May 5, 2008 ⋅ Post a comment

5 May 2008 - Here is a very interesting piece of analysis from Paul Jackson at Housing Wire. Given BofA’s recent announcement that it likely would not take on any of Countrywide’s outstanding debt many analysts are speculating that this could be first step towards BofA renegotiating its deal to purchase Countrywide or just walking [...]

Yang is Pathetic

By The Prince ⋅ May 5, 2008 ⋅ Post a comment

5 May 2008 - Submitted without comment.
http://ycorpblog.com/2008/05/04/ok-so-now-what/

Montag’s Pay Package

By The Prince ⋅ May 4, 2008 ⋅ Post a comment

4 May 2008 - When Merrill Lynch filed its employment agreement with Thomas Montag with the SEC on Thursday, they gave all the enemies of Wall Street yet another example of excessive pay being handed out even in difficult times. Montag, who is the new head of Merrill global sales and trading, will receive a [...]

The Credit Crisis and Leverage Explained

By The Prince ⋅ May 1, 2008 ⋅ Post a comment

30 Apr 2008 - The Prince really found these recent remarks by David Einhorn, manager and founder of Greenlight Capital, especially interesting. Basically, he lays out pretty concisely and completely the case for how leveraged played a major roll in the credit crisis. The remarks are pretty interesting and are a nice place to start [...]

Rating Agencies Repeated History

By The Prince ⋅ April 24, 2008 ⋅ Post a comment

25 Apr 2008 - Another bit of older commentary but still very worthwhile. A couple of weeks ago, Linda Lowell at Housingwire recently wrote a great piece of commentary looking at how the past data that the rating agencies used was faulty or misinterpreted. Mainly she points to the fact that the mass amounts of [...]

Outsourced Consumer Debt Collection

By The Prince ⋅ April 24, 2008 ⋅ Post a comment

24 Apr 2008 - As if the frustration of consumers directed towards outsourced technical support was not enough, now it appears that outsourcing companies in India and other countries are calling on American consumers to try to collect consumer debts. In fact, this form of outsourcing is a growth industry, according to the New York [...]

UBS Investment Banking Division Cuts Back

By The Prince ⋅ April 23, 2008 ⋅ One comment

23 Apr 2008 - In a speech to shareholders today UBS CEO Marcel Rohner, said the investment banking business is going to have to go it alone. It will no longer be able to use cash from UBS’ wealth management business to grow.
He emphasized this by saying, “The capital required by the investment bank [...]

GE Earnings Fun

By The Prince ⋅ April 23, 2008 ⋅ Post a comment

23 Apr 2008 - The Prince loves the drama at GE right now. Immelt defending the firm’s business model this morning. Jack Welch going after Immelt last week. The Epicurean Dealmaker weighs in with some great comments for Jack. The Prince has a lot of respect for GE as a company, Jack Welch, and Jeffrey [...]

Cost Savings Anyone?

By The Prince ⋅ April 21, 2008 ⋅ Post a comment

21 Apr 2008 - The Inquisitor has a lovely article this morning all about getting fired in investment banking. "So, what happens when you’re laid off and shown the door? Well, to start with, you suddenly have an additional 80-100 hours of free time each week (if you’re an Analyst)." or maybe "In investment banking [...]