~~~~ ” Treasuries “are yielding next to nothing,” said Robert Millikan, who manages $5 billion at BB&T Asset Management in Raleigh, North Carolina, including the $51 million BB&T Short U.S. Government Fund. “Trying to do something for your shareholders, it’s hard to sit there and buy a bond that yields less than any fees you [...]
Friday, November 28, 2008
This is a clip from Aug 12th on Bloomberg News (running time ~~ 4 minutes)… it concerns the auction rate securities markets…analysis by Adam Dean, President of SVB Asset Management and Joe Mysak, Bloomberg columnist…
Mr. Dean talks about the approx $ 200 billion dollars of ARS that the large banks had to bring back on [...]
Monday, November 24, 2008
The WSJ.com reports ~~~~ ” Amid the uncertainty that Sept. 16, Millennium Partners LP, a hedge fund with $13.5 billion in assets, asked to pull out $800 million of the more than $1 billion of assets it kept at Morgan Stanley, according to people familiar with the withdrawals. Separately, Millennium had also shorted Morgan Stanley’s [...]
Another Sunday night awaiting the word of the crisis resolution team at the Federal Reserve on Liberty Street…
It’s AIG this time… other Sundays we awaited word of the fate of Bear Stearns, Lehman Brothers, AIG-1, Goldman Sachs and Morgan Stanley… you would think Tim Geithner and his staff deserved some time off… if this is [...]
Thursday, November 6, 2008
From Dean Starkman writing in the Columbia Journalism Review (hattip to Chris Whalen)…
~~~~ “… On September 29 …. Bloomberg’s Mark Pittman published a story that blows away any inference that Goldman had no stake in the bailout. This story was brought to my attention after I wrote the earlier piece. Here are excerpts with my emphasis:
Sept. [...]
Before the deluge…
Chart thanks to EconomPic Data
Wednesday, October 22, 2008
You never know where the next development might come from… from Finextra…
~~~~ “Bank of America, Credit Suisse and Morgan Stanley have come together to develop a new online hub for buy and sell-side institutions participating in the corporate bank loan market.
The Storm Loan Marketplace will use real-time agent bank data and an array of automated [...]
Just a note for the files… $125 billion…
John J. Mack, Morgan Stanley’s chief executive, left, and Vikram S. Pandit, chief executive of Citigroup, leaving the Treasury Department on Monday.
Saved by the taxpayers…
Happy bankers!
Near the end of the Civil War Union forces beseiged Petersburg, VA for 9 months. Confederate forces could barely find food to eat. Starving, with their numbers dwindling due to desertions, and with Sherman’s forces approaching from the south, Lee attempted a break out.
It failed miserably, and on April 2nd, Union forces soon assaulted the Confederate lines. The [...]
Filed in Liquidity, Pricing, Regulatory
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Also tagged accounting, Bear, BofA, Goldman Sachs, Lehman, Liquidity, Merrill, Moodys, NRSRO, ratings, S&P, SEC
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