Asides
Outsourced Consumer Debt Collection
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
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
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?
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 [...]
Bear-JP Morgan Integration: Oh the Irony
5 April 2008 - "Jeff Mayer, a former member of Bear’s five-person executive committee and a co-head of fixed income, was named vice chairman of J.P. Morgan’s investment bank, with a focus on global risk. J.P. Morgan also named Craig Overlander, the other fixed-income co-head, as a vice chairman to focus on global clients.
Mike Nierenberg, [...]
U.S. Slump Predictably Spreads
3 Apr 2008 - The WSJ’s article last night entitled" U.S. Slump Takes Toll Across Globe" gives a pretty good summarization of how the U.S. slowdown is already spreading to foreign economies. These effects were obviously predictable but the WSJ does do a good job of putting some hard numbers behind how China is getting [...]
Kerviel: The French Apocalypse is Upon Us
3 Apr 2008 - From The Deal’s Dealscape: "
If the news had broken on April 1, we would have written it off as a prank, but The Times of London is reporting — two days too late for April Fools’ — that Jérôme Kerviel, the futures trader whose unauthorized trades cost Société Générale SA €5 [...]
Senators Make Housing Folly
2 April 2008 - This is going to be a huge mistake. It will be fun to watch this thing cost the tax payer tons of money and have no real effect on improving the economy.
Obama to Paulson: My Two Cents
From the WSJ Washington Wire Blog today:
Sen. Barack Obama described the Bush administration’s sweeping changes to financial market regulation as “inadequate” on Saturday.
While noting that he had not yet seen the full proposal, which Treasury Secretary Henry Paulson will unveil on Monday, the Illinois senator said that, based upon news reports, he believed the proposed [...]
Not to Gloat
26 March 2008 - Looks like the Prince called Paulson’s move a day in advance. Check out The Prince’s last post and compare its predications to what Paulson said today.
Random Wall Street Quote
Stop going for the easy buck and start producing something with your life. Create, instead of living off the buying and selling of others. - Carl FoxStreet Fees
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