Banks

  • 22 Aug 2014 at 2:25 PM

Bonus Watch ’14: Citi Mistmakers

The youngest members of the House of Corbat got a little extra something in their stocking (beach bag? man or lady satchel? giant canvas sack with a dollar sign on it?) this time around. Read more »

The nearly $17 billion that Brian Moynihan & co. will pay to make the albatross of Countrywide and Angelo Mozilo go away forever is actually closer to $12 billion, thanks to the tax-deductibility of ordinary business expenses like helping out underwater mortgageholders under duress ($7 billion) and compensatory matters ($4.63 billion). Read more »

  • 21 Aug 2014 at 11:49 AM

Pay Hike Watch ’14: Raises For Everyone (Under 25)!

Well, raises for everyone at Goldman Sachs, Morgan Stanley, and Bank of America. JP Morgan and Citi are still pondering this one. Read more »

  • 20 Aug 2014 at 12:53 PM

Pay Hike Watch ’15: The Youth Of Goldman Sachs

The youngest members of the House of Lloyd are said to be in for a nice little salary bump. Read more »

Banks are said to have made their best offers this week. Read more »

  • 12 Aug 2014 at 3:15 PM

Vascular Biogenics Will Show Itself Out

Forget about what you thought you heard about an IPO. There was no IPO. Read more »

Revel, the Atlantic City Casino Morgan Stanley poured $1.2 billion into and then booked a $1 billion loss on when the bank washed its hands of the place, which still haunts some senior executives’ dreams and is the word James Gorman whispers to employees with a knowing glance when it looks like they’re about to get in over their heads on something, is shutting its doors. Read more »

Back in 2012, Bank of America branch manager Aurora Barrera was in need of a vacation. She knew a week or two would be nice, but what would be better was the kind where she never had to come back, though continued to get paid. Since HR probably wouldn’t approve of the proposal, she had to figure out something slightly more creative, which in the end involve first robbing her place of business:

Aurora Barrera, 33, of Downey, California, helped plan the theft at a Bank of America Corp. branch where she was an assistant manager, the California Department of Insurance said yesterday in a statement.

…and second, strapping on a pair of cojones the likes of which Bank of America had never seen, and doing this: Read more »