Street Talk: Sign Here, Sign Now

cityfile · 10/15/08 05:15AM

♦ How did Hank Paulson's negotiations with the CEOs of the nation's largest banks go down on Monday? There were no negotiations, actually. He handed them a term sheet and told them to sign it on the spot if they knew what was good for them. [WSJ, NYT]
♦ Whether or not the federal government make actually make money taking a take in all these banks is still up in the air. [NYT]
♦ Will the bailout really change the way Wall Street CEOs are paid? Nah. They "will find other creative ways of paying their executives as they see fit." Which means Lloyd Blankfein will still take home tens of millions. [NYT, Bloomberg]
♦ The credit markets thawed ever so slightly yesterday following the news the U.S. government would take a stake in major banks. It could take weeks or months for things to really improve, though. [WSJ]

Street Talk: Rate Cut

cityfile · 10/08/08 05:13AM

♦ The world's central banks are joining together to carry out a coordinated (and unprecedented) cut in interest rates, part of a plan to restore confidence in the global economy. [WSJ, NYT]
♦ Speculation that Morgan Stanley's deal with Mitsubishi UFJ had fallen through led to a huge drop in Morgan's stock price; the Japanese bank now says the deal will be done by this weekend. [Bloomberg]

Street Talk

cityfile · 08/29/08 05:12AM
  • Lehman slashed 1,500 jobs yesterday. But job cuts are expected at several other banks around town very soon. [NYT]

Street Talk

cityfile · 07/24/08 05:01AM
  • Ford announced an $8.7 billion loss for the second quarter—its worse ever—and an $8 billion write-down. [NYT]