Top Interest Rate Headlines 11-08-10: Fed's Bullard: Benefits of QE2 Outweigh Risks

Fed's Bullard: Benefits of QE2 Outweigh Risks 
http://jlne.ws/aT2WZt

Morgan's Gorman: Reckless big banks should fail
MarketWatch
http://jlne.ws/aeNT0H

Bad WaMu mortgages haunt JPMorgan Chase, Dimon
Seattle Times
JPMorgan is now saddled with $74.8 billion in nonperforming home loans inherited from WaMu, a third of the $230.7 billion in mortgages on its books.
http://jlne.ws/cFbgWR

Royal Bank of Scotland in Q3 loss of $1.63 billion
San Diego Union-Tribune
Part-nationalized Royal Bank of Scotland on Friday said it cut losses by 36 percent in the third quarter as it booked fewer charges for bad loans.
http://jlne.ws/9Fd2Ox

Citigroup Debt Funds Probed by SEC: Report
FOX Business
Regulators probed certain Citigroup debt funds to assess whether the bank made adequate disclosure to investors about the funds' risk levels.
http://jlne.ws/aRawls

Mortgage Investors Sue Citi Over Underwriting
FOX Business
Several Citigroup Inc mortgage bond investors, including Charles Schwab Corp, have sued the bank over its home loan underwriting processes.
http://jlne.ws/akoJ58

Citigroup's Bad Boy
Forbes
How an untested businessman got a $126 million loan--and personally owes every dime of it.
http://jlne.ws/9MCEf7

HSBC in new threat to leave the UK over Osborne banking levy
Independent
HSBC yesterday made a fresh threat to quit London, saying Chancellor George Osborne's banking levy and an EU-wide crackdown on bonuses meant it was no longer on "a level playing field" with its international rivals.
http://jlne.ws/aWi0BW

Morgan Stanley CEO says no Smith Barney deal delay
Joseph A. Giannone, Reuters
Morgan Stanley (MS.N) Chief Executive James Gorman on Monday shot down recent reports that the investment bank wanted to put off purchasing a larger stake in brokerage Morgan Stanley Smith Barney from its joint venture partner, Citigroup Inc (C.N).
http://jlne.ws/cj4y8l

Gorman Says Morgan Stanley Intends to Purchase Smith Barney on Target Date
Bloomberg
Morgan Stanley Chief Executive Officer James Gorman said the firm fully intends to buy Smith Barney on target dates established in its deal with Citigroup Inc.
http://jlne.ws/95BB0R

Bank of America a Good Two-Month Bet, Morgan Stanley Says
Wall Street Journal Blogs
Morgan Stanley research analyst Betsy Graseck is out with a note Monday saying there's a "very likely" probability that Bank of America has a good two-month run ahead of it.
http://jlne.ws/aDbfQ4

A change of fortunes for J.P. Morgan CEO Jamie Dimon
Washington Post
Jamie Dimon wanted Washington Mutual and he wanted it bad.
http://jlne.ws/by7JAB

JPMorgan working on how to replace lost revenues
CEO Jamie Dimon says he is looking for ways to pass on all of the extra regulatory costs to consumers and corporate clients.
By Dawn Kopecki, Bloomberg News
The Dodd-Frank Act requires banks to move derivatives trading to separately capitalized subsidiaries, which JPMorgan Chase is in the process of doing.
http://jlne.ws/99F2FB

TD Ameritrade's Annual New Year's Resolution Survey
While Financial Goals Are Still Important, Having Fun and Relaxing Are Tops in 2011
An annual survey released by TD Ameritrade Holding Corporation (NASDAQ: AMTD) found that the top New Year's resolutions for 2011 reflect a focus on quality of life. While "save more money" (65 percent) was included among the top three resolutions, "relax/reduce stress" (67 percent) and "have more fun" (67 percent) were the most popular responses.
http://jlne.ws/av0l8z