Linkfest: Crisis dogs European banks; Dealmaking, bond trading, commodities fizzle; Goldman: take the weekend off
Categories: Linkfest
Today’s most shared: Euro bank recovery on hold amid bad loans, legal issues, slow growth… Goldman tells analysts not to work so hard… Suzanne Somers says Obamacare is a socialist Ponzi scheme — Mr. Furley and Mr. Roper unavailable for comment… Is JPMorgan pulling a WaMu bait-and-switch, or are the Feds? Growthism v. capitalism; Icahn, Apple, and charity.
Bad loans at European banks hit $1.7 trillion
CNBC
Around 1.2 trillion euros ($1.7 trillion) of non-performing loans are parked on European banks’ balance sheets.
shared by @JacobWolinsky, @EfiEfthimiou, @mhewson_CMC
CNBC
Around 1.2 trillion euros ($1.7 trillion) of non-performing loans are parked on European banks’ balance sheets.
shared by @JacobWolinsky, @EfiEfthimiou, @mhewson_CMC
UBS Profitability Goal Delayed by Capital Demands
Bloomberg
UBS AG, Switzerland’s biggest bank, said it probably won’t be able to reach its profitability goal in 2015 after the Swiss regulator demanded the company hold more capital for risks related to litigation.
shared by Here Is The City, @JohnLothian, Crossing Wall Street
Bloomberg
UBS AG, Switzerland’s biggest bank, said it probably won’t be able to reach its profitability goal in 2015 after the Swiss regulator demanded the company hold more capital for risks related to litigation.
shared by Here Is The City, @JohnLothian, Crossing Wall Street
Deutsche Bank Profit Falls 94% on 1.2 Billion Euro Charge
Bloomberg
Deutsche Bank AG, Europe’s largest investment bank by revenue, said third-quarter profit slid 94 percent after it set aside 1.2 billion euros ($1.65 billion) to cover potential legal costs and income from debt trading fell.
shared by Here Is The City, @JohnLothian
Bloomberg
Deutsche Bank AG, Europe’s largest investment bank by revenue, said third-quarter profit slid 94 percent after it set aside 1.2 billion euros ($1.65 billion) to cover potential legal costs and income from debt trading fell.
shared by Here Is The City, @JohnLothian
Rabobank CEO resigns as bank reaches $1 billion Libor settlement
Wall Street Journal
Rabobank is poised to announce the resignation of its chief executive, Piet Moerland, as the Dutch lender reaches a roughly $1 billion settlement of an investigation into attempted manipulation of benchmark interest rates.
shared by @AmyResnick, @eisingerj
Wall Street Journal
Rabobank is poised to announce the resignation of its chief executive, Piet Moerland, as the Dutch lender reaches a roughly $1 billion settlement of an investigation into attempted manipulation of benchmark interest rates.
shared by @AmyResnick, @eisingerj
Frenzy of Deals, Once Expected, Seems to Fizzle
New York Times
Prognostications of a return to deal-making have turned out to be wrong, very wrong. And deal-making may not be coming back anytime soon.
shared by @DougKass, @LaurenLaCapra, @EpicureanDeal, @TheStalwart
New York Times
Prognostications of a return to deal-making have turned out to be wrong, very wrong. And deal-making may not be coming back anytime soon.
shared by @DougKass, @LaurenLaCapra, @EpicureanDeal, @TheStalwart
The investor gold rush is on the verge of ending in a whimper
Wall Street Journal
Central banks in Russia and elsewhere are cutting purchases of gold, further weighing on prices of the metal. Prices are down 19% year to date. The last time gold prices posted an annual loss was 2000.
shared by @firstadopter, @ritholtz, @finansakrobat, @JacobWolinsky
Wall Street Journal
Central banks in Russia and elsewhere are cutting purchases of gold, further weighing on prices of the metal. Prices are down 19% year to date. The last time gold prices posted an annual loss was 2000.
shared by @firstadopter, @ritholtz, @finansakrobat, @JacobWolinsky
Goldman Pushes Junior Investment Bankers to Take Weekends Off
Bloomberg
Goldman Sachs Group Inc., this year’s top merger adviser, is discouraging investment banking analysts from working weekends as it overhauls demands placed on entry-level employees and the support they receive.
shared by @MattGoldstein26, Crossing Wall Street, @JohnLothian
Bloomberg
Goldman Sachs Group Inc., this year’s top merger adviser, is discouraging investment banking analysts from working weekends as it overhauls demands placed on entry-level employees and the support they receive.
shared by @MattGoldstein26, Crossing Wall Street, @JohnLothian
Suzanne Somers: The Affordable Care Act Is a Socialist Ponzi Scheme
Wall Street Journal
First of all, let’s call affordable health care what it really is: It’s socialized medicine.
shared by @SpiegelPeter, @TheStalwart, @AnnieLowrey, @kmac, @DLeonhardt
Wall Street Journal
First of all, let’s call affordable health care what it really is: It’s socialized medicine.
shared by @SpiegelPeter, @TheStalwart, @AnnieLowrey, @kmac, @DLeonhardt
JPMorgan Still Isn’t Sure What It Bought in 2008
Bloomberg
You may have heard that JPMorgan is paying a lot of people billions of dollars to settle those people’s lawsuits over bad mortgages that Washington Mutual sold them back in the day. Some people think that this is unfair to JPMorgan.
shared by @retheauditors, Naked Capitalism, @JacobWolinsky, @JohnLothian
Bloomberg
You may have heard that JPMorgan is paying a lot of people billions of dollars to settle those people’s lawsuits over bad mortgages that Washington Mutual sold them back in the day. Some people think that this is unfair to JPMorgan.
shared by @retheauditors, Naked Capitalism, @JacobWolinsky, @JohnLothian
Three Centuries of Debt and Interest Rates
New York Times
Britain since William and Mary.
shared by @ObsoleteDogma, @MarkThoma, @Noahpinion, @wonkmonk_
New York Times
Britain since William and Mary.
shared by @ObsoleteDogma, @MarkThoma, @Noahpinion, @wonkmonk_
This Isn’t Capitalism — It’s Growthism, and It’s Bad for Us
HBR
We think economic growth is our friend. Here’s why it’s not.
shared by @MarkThoma, reddit/Economics, @newsycombinator, @ModeledBehavior
HBR
We think economic growth is our friend. Here’s why it’s not.
shared by @MarkThoma, reddit/Economics, @newsycombinator, @ModeledBehavior
WSJ columnist Farhad Manjoo suggests how Apple should spend its money
Wall Street Journal
Carl Icahn is wrong to ask Apple to use its cash pile on a stock buyback, says WSJ columnist Farhad Manjoo. That money is better spent on improving Apple products and services to ensure it remains competitive.
shared by Abnormal Returns, @ToddSullivan, The Big Picture, @ritholtz
Wall Street Journal
Carl Icahn is wrong to ask Apple to use its cash pile on a stock buyback, says WSJ columnist Farhad Manjoo. That money is better spent on improving Apple products and services to ensure it remains competitive.
shared by Abnormal Returns, @ToddSullivan, The Big Picture, @ritholtz
Is DIP financing the best option for Detroit?
Financial Times
By Bond Girl*
Last Monday, the Detroit City Council unanimously rejected a $350m debtor-in-possession (DIP) financing that would have been arranged and purchased by Barclays.
shared by Naked Capitalism, @Dvolatility, @EpicureanDeal, @munilass
Financial Times
By Bond Girl*
Last Monday, the Detroit City Council unanimously rejected a $350m debtor-in-possession (DIP) financing that would have been arranged and purchased by Barclays.
shared by Naked Capitalism, @Dvolatility, @EpicureanDeal, @munilass
Doug Kass: I’d Pay $32.50 a Share for Twitter
Wall Street Journal
Hedge-fund manager Doug Kass, once a Twitter quitter, says he’s now "manifestly bullish" on the microblogging platform.
shared by @ritholtz, The Big Picture, Reformed Broker, @DougKass
Wall Street Journal
Hedge-fund manager Doug Kass, once a Twitter quitter, says he’s now "manifestly bullish" on the microblogging platform.
shared by @ritholtz, The Big Picture, Reformed Broker, @DougKass
White Collar Fraud: Is Overstock.com Trying to Cook The Books, Again?
whitecollarfraud.blogspot.com
White Collar Fraud: Is Overstock.com Trying to Cook The Books, Again?
shared by @JacobWolinsky, @LongShortTrader, @ritholtz
whitecollarfraud.blogspot.com
White Collar Fraud: Is Overstock.com Trying to Cook The Books, Again?
shared by @JacobWolinsky, @LongShortTrader, @ritholtz
Billionaires’ Charity Brawl Spills Onto Twitter
Bloomberg
Activist investor Carl Icahn fired back an insult at bond-fund manager Bill Gross, who last week said Icahn should leave Apple alone and turn his attention to charity. Both should knock it off.
shared by @LaurenLaCapra, @TimOBrien, Reformed Broker, @JacobWolinsky
Bloomberg
Activist investor Carl Icahn fired back an insult at bond-fund manager Bill Gross, who last week said Icahn should leave Apple alone and turn his attention to charity. Both should knock it off.
shared by @LaurenLaCapra, @TimOBrien, Reformed Broker, @JacobWolinsky
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Photo credit: Bloomberg.com — Deutsche Bank Profit Falls 94% on 1.2 Billion Euro Charge