Morgan Stanley will fire 20% of its managing directors by the end of the year, a source familiar with the matter told Business Insider.
Bank of America had a bad day with AIG planning to sue BofA for $10 billion. A spokesperson for Bank of America also says the banks does not need to raise more capital. Bank of America’s stock fell more than 20% today.
Nouriel Roubini was on a fishing trip in the deep woods of Grand Lake Stream, Maine with a bunch of other top economists during the S&P downgrade of the U.S. government’s credit rating on Friday.
There are rumours that long/short equity hedge funds and event-driven hedge funds are getting smashed right now.
A former Goldman Sachs intern and Morgan Stanley Banker turned chef and Iron Chef judge, Judy Joo, got a rave review from Bloomberg for her new restaurant, Hugh Hefner’s Playboy Club.
Bank layoff projections are now over 100,000, but will that number grow?
Appaloosa’s David Tepper has reportedly eliminated his 17 million shares position in Bank of America as well as Wells Fargo.
The 27 year-old Anthony J Klatch II, who allegedly duped investors out of $2.3 million and then purchased several luxury cars, a Bernie Madoff-style condo and a boat did it all because he’s bipolar, says his mum.