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A recent investigation by the Wall Street Journal uncovered the wealth management branch of investment bank Morgan Stanley’s alleged failure to properly vet its rich clients’ assets ...
Retail and mortgage bank £ 1.26 × 10 ^ 9 [11] August 26, 2008: Roskilde Bank: Danmarks Nationalbank (Danish Central Bank) Retail bank $ 896,800,000 (kr4,500,000,000) [12] September 5, 2008: Silver State Bank: Federal Deposit Insurance Corporation: Commercial bank [13] September 7, 2008: Fannie Mae and Freddie Mac: Federal Housing Finance ...
the failure of gatekeepers, including auditors, boards of directors, Wall Street analysts, and career politicians. In his book The Big Mo , Mark Roeder , a former executive at the Swiss-based UBS Bank, suggested that large-scale momentum, or The Big Mo , "played a pivotal role" in the financial crisis.
The stock of Morgan Stanley is down 14% over the last three months and 8.5% over the last six months, more than any other big bank with a sizable Wall Street operation.
[17] In his Rolling Stone op-ed, Wall Street investigative journalist Matt Taibbi, who once referred to Goldman Sachs as a "a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.", [18] applauds the "extraordinary investigative effort" by the Senate subcommittee. He ...
John J. Mack, then- president of Morgan Stanley, waves his Discover credit card at a press conference in New York, February 5, held to announce the $10.2 billion merger of Dean Witter, Discover ...
Historian Robin Blackburn wrote: "The Wall Street investment banks and brokerages hemorrhaged $175 billion of capital in the period July 2007 to March 2008, and Bear Stearns, the fifth largest, was 'rescued' in March, at a fire-sale price, by JP Morgan Chase with the help of $29 billion of guarantees from the Federal Reserve."
A 51% jump in Morgan Stanley's investment banking fees reinforced a dealmaking revival across Wall Street, but its wealth management performance fell short of analyst expectations.