Word: banke
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...What will happen to independent stock research? It is an important question to ask, especially at a time when the ethics of financial firms are again front-and-center. Dozens of independent research companies-by some estimates, 60 to 70-have been selling their work to investment banks over the past five years. Under the terms of the settlement, the banks then make that research available to individual investors and the bank employees, like brokers, who advise them. The biggest providers of research to the global settlement are, by most accounts, S&P Equity Research, Morningstar and Argus Research...
...bigger question may be, will the global settlement have any lasting impact-or do we lose something significant when the money for independent research stops in July? By some measures, the bias of investment-bank stock research has, in fact, changed since the late 1990s and early 2000s. Back then, only about 1% to 2% of the companies covered by banks carried a "sell" rating, according to research-tracker Investars. These days, that figure falls more in the 15% to 20% range-an indication, one might argue, that analysts are making tougher calls on the companies they cover. That probably...
Eighteen months ago, when the world was awash in asset bubbles, there was perhaps no market more overheated than commodities. Prices of everything from iron ore to palm oil to corn reached dizzying heights. Crude oil nearly quintupled in five years; rice tripled in only five months. World Bank President Robert Zoellick called rising food and oil prices a "man-made catastrophe" that had the potential to quickly erase years of progress in overcoming poverty. Protests and riots over high prices for necessities erupted across the developing world. Pundits dusted off Malthusian theories that the planet was physically unable...
...case of two men with the power to determine the fate of another man and the company he led by taking all of his responsibilities out of his hands. By the action, Bernanke and Paulson pushed Lewis to betray a trust to his shareholders, his customers, and his employees. Bank of America has been on many of the lists of mortally ill banks which may have to be broken up or nationalized since the Merrill buyout. This, in and of itself, has cost the firm's shareholders billions of dollars. If B of A had walked away from Merrill...
...only approach to take in Paulson and Bernanke's views. The SEC may claim that the action was not legal because Lewis had an obligation to disclose the conversation to both his board and to his shareholders. He was being asked to act against the interests of the bank he runs in the name of the national interest...