German Magazine Says Greece Mulling Euro Exit
http://jlne.ws/mSB7z0
Inevitability of a Default in Greece
http://jlne.ws/mIsjJm
SIFMA nominates BofA's Tom Patrick as its chairman
http://jlne.ws/jnWGkK
Dudley: Regional Economy and Current Trends in Regional Employment
http://bit.ly/kHaSYG
High-Speed Traders Get Their Last Goods In Citi's Cheap Stock
By Brendan Conway, DOW JONES NEWSWIRES
The country's fastest electronic traders are wringing every last cent out of Citigroup Inc.'s (C) stock. With a 1-for-10 reverse split announced in March set to take effect after Friday's close, there hasn't been all that much of a dropoff in Citi's trading volume. The stock has still averaged 325 million trades per day over the last several sessions, according to FactSet Research, a sign that the fast traders haven't turned off the machines just yet.
http://jlne.ws/iIKSMP
As Lloyds, BBVA and Société Générale Slip, ING Surprises
By MATTHEW SALTMARSH and CHRIS V. NICHOLSON - NY Times
Three of the four major European banks that reported first-quarter earnings on Thursday performed weaker than had been expected as a result of recent market turmoil and the slow economic recovery in countries including Britain and Spain.
http://jlne.ws/iX6ej9
UBS Case Marks Widening Gyre of Criminal Probe Into Muni Bonds
BusinessWeek
A UBS AG banker wanted to win an investment deal with a Rhode Island municipality that was to be awarded to the highest bidder. Instead of offering the best price, he secretly split half of UBS's $1.4 million profit with another bank to get the rival to back off.
http://jlne.ws/j0PpQb
RBS remains in the red with £116m loss
By Patrick Jenkins, Banking Editor - Financial Times
Royal Bank of Scotland, the bank that is 83 per cent owned by taxpayers, was lossmaking again in the three months to the end of March. The bank reported a pre-tax loss of £116m on Friday, compared with a figure of only £5m a year ago, but Stephen Hester, chief executive, hailed the results as proof of “progress continuing”.
http://jlne.ws/mEw4A0
SEC Subpoenas Credit Suisse Over Mortgages, MBIA Says in N.Y. Court Filing
Bloomberg
The U.S. Securities and Exchange Commission subpoenaed Credit Suisse Group AG (CSGN) seeking documents related to mortgage debt, bond insurer MBIA Insurance Corp. said in a court filing as it seeks information as part of a lawsuit against three of the bank's units.
http://jlne.ws/iuFsFT
JPMorgan Said to Face SEC Subpoena Along With Credit Suisse
BusinessWeek
JPMorgan Chase & Co. received a subpoena from the U.S. Securities and Exchange Commission over failed mortgages, a person familiar with the investigation said, as the agency probes banks including Credit Suisse Group AG for allegedly failing to share refunds from sellers of faulty debt.
http://jlne.ws/lMDysj
Will Wall Street Finally Have to Pay for Mortgage Fraud?
Time Magazine
Wall Street may soon have to finally pay for its folly
http://jlne.ws/iPxqZc
CFTC's O'Malia: Costs To Rise For Commercial End-Users Of Swaps
By Jamila Trindle Of DOW JONES NEWSWIRES
Costs will increase for commercial end-users using swaps to hedge business risk as a result of new regulations, Commodity Futures Trading Commission member Scott O'Malia said Thursday.
http://jlne.ws/jUc6mi
Paulson credit strategy reaps gains
By Henny Sender and Dan McCrum, Financial Times
Credit strategies are leading the way for hedge fund managers as funds adjust to volatile trading conditions. Credit is the best performer so far this year, without the benefit of leverage, among funds managed by John Paulson & Co. The group’s $9bn Credit Opportunities fund returned 1.4 per cent in April and is up 7.8 per cent for the year, according to investors. Mr Paulson’s credit funds were up between 5.92 per cent and 6.34 per cent in the first quarter.
http://jlne.ws/ioBItH
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