Problem banks grow in fourth quarter, FDIC says
By Ronald D. Orol, MarketWatch
The number of problem banks in the U.S. grew in the fourth quarter, with total failures reaching an 18-year high in all of 2010, the Federal Deposit Insurance Corp., said Wednesday, even as the agency reported another quarter of healthy profits overall for the banking industry.
http://jlne.ws/f6poNW
Existing Home Sales Up 2.7% In January
By Steve Goldstein, Bloomberg
Sales of existing homes rose a seasonally-adjusted 2.7% in January for the fifth monthly rise in six, a trade group said Wednesday as it also announced a major review into the quality of its data.
http://jlne.ws/hKbRvF
Chicago Economist's `Crazy' Education Idea Wins Ken Griffin's Backing
http://jlne.ws/hZtkbh
Deutsche Bank Banned From Derivatives Trading in South Korea
http://jlne.ws/gnWQ1Y
Geithner Says World in Better Position to Handle Oil-Price Jump
By Rich Miller, Bloomberg
U.S. Treasury Secretary Timothy F. Geithner said the economic recovery has put the world on a better footing to withstand the increase in oil prices caused by turmoil in the Middle East.
http://www.bloomberg.com/news/2011-02-23/geithner-says-world-is-in-a-better-position-to-handle-surge-in-oil-prices.html
CBOE to Relaunch Credit Event Binary Options (CEBOs) Contracts on March 8
Press Release
CHICAGO, Feb. 22, 2011 /PRNewswire/ -- The Chicago Board Options Exchange (CBOE) announced today that on Tuesday, March 8, the Exchange will begin trading newly-designed Credit Event Binary Options (CEBOs) contracts.
http://jlne.ws/eJtXQc
Goldman Sachs' hedge fund VIP list
eFinancial News
It's a VIP list but not as we know it. Goldman Sachs has published a list of Very Important Positions for hedge funds (see Chart 1) and tracked how well the list has performed in the stock market since 2001.
http://jlne.ws/hdDQWf
Bad habits of credit bubble make comeback
By John Plender
Here we go again. The start of the year in debt markets has been marked by record low yields on junk bonds, declining underwriting standards and a return of the more dangerous innovations of yesteryear such as payment-in-kind toggles which allow borrowers to issue more debt to pay the interest bill. Even covenant-lite loans, where normal borrowing conditions are shelved, have made a comeback in the leveraged buyout market and elsewhere, at a time when hapless small and medium sized firms are hard pressed to find credit.
http://jlne.ws/i0FrOM
Barclays purchase of Lehman unit ruled fair
By Telis Demos in New York - Financial Times
A US bankruptcy court judge has ruled that Barclays’ purchase of Lehman Brothers’ US broker-dealer was fair and should not be revisited.
http://jlne.ws/ghHegB
Citigroup Ignored Signs of Fraud in Madoff Scheme, Trustee Suit Says
New York Times
The lawsuit said red flags should have been apparent to Citi as early as 2005.
http://jlne.ws/edFCoB
Commerzbank returns to annual profit
By James Wilson in Frankfurt - Financial Times
Commerzbank promised further significant improvement in profitability this year as it returned to annual profit for the first time since the financial crisis with results that were better than expected.
http://jlne.ws/gxAZxk
Former U.S. Congressman Harold Ford, Jr. Joins Morgan Stanley
Press Release
Morgan Stanley (NYSE: MS) today announced the appointment of former U.S. Congressman Harold Ford, Jr. to the Firm as a Managing Director and senior client relationship manager. Mr. Ford will work across all business divisions and report to Gregory Fleming, President of Morgan Stanley Smith Barney and President of Morgan Stanley Investment Management, and to Paul J. Taubman, Co-President of Institutional Securities.
http://jlne.ws/emws3a
Goldman's Blankfein Opposed Raising Salaries Before His Tripled
Bloomberg
Lloyd Blankfein , Goldman Sachs Group Inc.'s chairman and chief executive officer, warned against raising base salaries on Wall Street less than eight months before his own more than tripled to $2 million.
http://jlne.ws/ew7Mzs
Barclays online annual report short on transparency
Guardian Unlimited
Our desire is to make this report as transparent and open as possible, says Barclays' chairman, Marcus Agius, in his online introduction to his bank's 2009 annual report. This wish, however, failed to produce the startling statistic that Barclays paid just £113m in UK corporation tax in 2009 , a year in which the bank reported profits of £11.6bn (or £4.6bn excluding the sale of its fund ...
http://jlne.ws/hTk68y
RBS's Full-Year Loss Probably Shrank by 98% Since Credit Crisis
BusinessWeek
Royal Bank of Scotland Group Plc, Britain's biggest government-owned bank, may say its full-year loss shrank by 98 percent from 2008, when it received a record taxpayer-funded bailout.
http://jlne.ws/dQrLfa
Merger pays off for incoming Harris N.A. CEO
By: Steve Daniels - Crain's
(Crain's) — The Marshall & Ilsley Corp. CEO who in December negotiated the sale of Wisconsin’s biggest bank to the parent of Chicago’s Harris N.A. is in line for $24 million in cash payments in addition to the salary, bonus and equity awards he’ll be getting under a three-year contract to run the combined banks.
http://jlne.ws/gqWOso
Credit Suisse banker arrested in United States
Reuters
WASHINGTON (Reuters) - A Credit Suisse banker was arrested in New York and was being moved to Florida for a court appearance, according to a law enforcement source familiar with the case.
http://jlne.ws/g7izdE
Deutsche Bank fined for irresponsible mortgage lending
DW-World
Deutsche Bank has become the first bank to be fined by the UK's Financial Services Authority for irresponsible lending practices. They have been ordered to pay 1.8m euros in compensation to customers.
http://jlne.ws/eqBBrU
Fed's Hoenig Says U.S. Should Break Up Largest Financial Firms
http://jlne.ws/f0jEEz
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