Word: morganization
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...money center banks. Their CEOs are talking about profits and paying back TARP money the same way that they were calling an end to banking write-offs a year ago. Former Lehman CEO Fuld said last April that the worst of the writedowns was probably over and Morgan Stanley (MS) chief John Mack said that the financial crisis was in the "eighth inning or top of the ninth." (See pictures of baseball...
...remedies Congress is in a fever pitch to approve may well end up hurting the rescue efforts. The bonus bills, which would apply to virtually every major bank - including Citigroup, Bank of America, Wells Fargo, Goldman Sachs, Morgan Stanley and JP Morgan Chase, as well as AIG, Fannie Mae and Freddie Mac - will probably cause many of them to simply give back the TARP money sooner than they probably should, to avoid losing their best people to foreign banks, boutique firms or hedge funds that can pay bigger bonuses. "The week's events will cause a brain drain of salespeople...
...Jones, winning Oscars for the picture and himself. Natasha made her film debut at the age of 4 in Dad's revisionist take on The Charge of the Light Brigade. By then, Redgrave had become the brightest new light of stage (The Prime of Miss Jean Brodie) and screen (Morgan, Blowup, Camelot.) Having separated from Richardson, Redgrave took up with Franco Nero, her hunky co-star in Camelot. (See pictures of Natasha Richardson's life...
Although Lil Wayne’s “Lollipop” is certainly a crowd pleaser, it may not capture hip-hop’s original spirit of activism, according to the Harvard’s Hiphop Archive founder and Executive Director, Marcyliena Morgan. “You get [radio stations saying] ‘let’s play these songs about someone’s butt,’” said Morgan, a professor of African and African American Studies. To exchange ideas and promote dialogue surrounding issues of global hip-hop, the Hiphop Archive...
...under pressure from Congress and the press, also released the number of the counterparties to many of its credit default swaps. AIG had decided to insure the value of certain paper owned by the likes of Goldman Sachs (GS), Morgan Stanly (MS), and Deustsche Bank (DB). When the value of that paper fell, AIG was on the hook to pay off the "insurance" which kept the likes of Goldman from having to book large write downs. Those write downs might have pushed Goldman into a difficult financial situation. The same holds true for a number of the other companies doing...