Word: stanleys
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...order to sell the loans banks will have to recognize losses that could run as high as $200 billion for the sector in general. "The gap between bank marks on these distressed [loans] and their economic value appears to be too wide to be bridged," says Morgan Stanley analyst Richard Berner of the government program...
...Wall Street firms make money when people are in pain," says Frank Partnoy, who once traded credit-derivative contracts at Morgan Stanley and is now a law professor at the University of San Diego. "I don't know if that is what is happening, but if the question is whether banks would converge on a dying body - the answer is, Absolutely...
...Birthday Party” will be on show in the Loeb Expository Theatre from April 3-11. “The Birthday Party” premiered in 1958 and is Pinter’s most critically acclaimed play. The story revolves around the terrorization of Stanley Webber, a failed pianist who lives in a rundown boarding house owned by Meg and Petey Boles, to all appearances a bland couple. The trio seem at first to get along splendidly, displaying a mix of familial and flirtatious affection. But these early moments are merely a foil to those that follow the arrival...
...decades pure investment banks like Goldman Sachs and Morgan Stanley dominated M&A. But in the past few years, the ability of the large banks to offer billions of dollars in loans to finance transactions has raised their standing among dealmakers. Citigroup has been the most successful in wresting away this profitable business...
...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...