Deutsche Bank Posts Fourth Straight Quarterly Profit (BW)
The Frankfurt-based bank had net income of 1.3 billion euros ($1.8 billion), or 2 euros a share, in the fourth quarter after a loss of 4.8 billion euros, or 8.71 euros, a year earlier, it said in a statement today. Earnings were bolstered by a tax benefit of 554 million euros. “Looking forward, we see a clear trend to recovery, and stabilization of financial markets, although the effects of the recent crisis will take time to work through,” Chief Executive Officer Josef Ackermann said in a statement.
Officials Blast AIG Bonuses (WSJ)
Both Treasury Secretary Timothy Geithner and the U.S. pay czar, Kenneth Feinberg, in separate appearances called the bonus contracts “outrageous” while noting the contracts predated the September 2008 government takeover of the insurer. So, you know, carry on.
Rivals Await Blankfein’s Bonus at Goldman Sachs (NYT)
According to the Times, JPMorgan is waiting to see what Blankein’s bonus will be, and gauging the reaction to it, before determining what Jamie Dimon will take home.
Billionaire Whistle Blower Loses $730 Million After Alleging Banker Fraud (Bloomberg)
“Nobody can guarantee you’re going to have success, but it’s another thing to be crooked,” says Jose Berardo, 65, who owns one of the world’s most-valuable private modern-art collections. “I want the money back that they took.”
Roubini: It Would Take A Crisis To Change Russia (CNBC)
“The problem in Russia is not going to change until there’s another shock like either a crisis or a collapse in oil prices or a political shift that’s going to lead to a radical change in this basic economic regime,” Roubini said.
The Hedge Fund Manager And His Frog (WSJ)