Banks

Because the bank does not want Judge Astrid Nungesser to do that for it. Read more »

To be fair, the Justice Department hasn’t actually thrown out that figure, but it did scoff at Brian Moynhian’s offer of $13 billion, so. Read more »

  • 16 Jul 2014 at 1:36 PM
  • Banks

Brian Moynihan’s Law Firms Had A Great Second Quarter

Brian Moynihan himself less so. Read more »

  • 15 Jul 2014 at 3:11 PM
  • Banks

Goldman Demonstrates How It’s Done

Lloyd Blankfein just couldn’t resist an opportunity to show up his “rivals” Mike and Jamie. Read more »

Gone are the days of working until 2AM on an assignment. Staying only until midnight will be the new and exciting way of doing things. Read more »

“Bon appétit,” says Pandit, as he slices into a beetroot and continues to extol the virtues of something he calls the “SMAC stack”. I tell him this sounds awful but, he assures me, “it’s the vernacular for the ease for which you can get into business today,” and it stands for “Social media, Mobility, Applications and Cloud. “Data is like . . . You’re too young, but there was a movie with the [line about] plastics.” When I assure him I’m familiar with The Graduate, he says: “Data is this generation’s plastics. I don’t see business models being truly successful until you get it.” [FT]

  • 14 Jul 2014 at 12:34 PM
  • oh that

$7 Billion Settlements Aside, Citi’s Earnings Are Kick-Ass

Citigroup‘s profits tumbled 96 percent in the second quarter, dragged down by a huge charge related to its recently announced deal with the Justice Department to settle an investigation into its sale of mortgage securities in the run up to the financial crisis. The charge for the legal settlement totaled $3.8 billion, marring an otherwise relatively strong quarter for the bank that was helped by better than expected trading results. Not accounting for the legal charge, or other one-time items, Citigroup exceeded Wall Street expectations in the second quarter with adjusted earnings of $1.24 a share, On that basis, analysts had been expecting Citigroup would earn $1.05 a share, according to a survey by Thomson Reuters…Earlier on Monday, the bank announced a $7 billion deal with the Justice Department. The deal includes a $4 billion cash penalty, the largest yet by a large bank to settle federal investigations of mortgage misdeeds. [Dealbook]

  • 11 Jul 2014 at 3:44 PM
  • myths

You Want Fun? GOLDMAN SACHS WILL SHOW YOU FUN

Whoever said Goldman Sachs summer internships were all work and no play apparently never experienced the all-access pass to the FunZone that is GS’s Salt Lake City program. We’re talkin’ scavenger hunts and watching the World Cup in a conference room-level fun. We’re talking 6AM runs with colleagues-fun. Read more »