Banks

  • 10 Sep 2014 at 3:01 PM
  • Banks

Lehman Trustee’s Work Is Almost Done

Not really! But, seriously, he’s ready to hand out most of what he’s got to give the bankrupt bank’s unsecured creditors before sitting down to fill out some hellaciously complicated tax forms. Read more »

  • 08 Sep 2014 at 3:17 PM
  • Banks

Bonus Allowance Watch ‘14: Europe

EU Internal Markets Commissioner Michel Barnier doesn’t care what you call them, and he doesn’t care if they’re technically legal. All he cares about is when you add up all the bonuses and allowances and gratuities and tips adult-entertainment vouchers, they stay below the line he has in mid. Read more »

  • 04 Sep 2014 at 11:55 AM
  • Banks

It Won’t Be 2007 Again Until 2024 (And Not Really Even Then)

Deutsche Bank has gone back and re-crunched some numbers and found a couple of things about the line of business it is in. For one, it may have, well, let’s say misspoke when it suggested in December that the Goldmans of the world would inherit the banking industry. Seems that may have been at best a touch optimistic and at worst completely wrong. The Germans have also found that investment banking may not be an industry that one wants to inherit at all. Read more »

  • 02 Sep 2014 at 2:15 PM
  • Banks

Britons 42% Less Unhappy With Their Banks

Don’t worry, the U.K.’s Financial Ombudsman Service still has plenty to do, since a 42% drop in complaints still leaves 191,000 complaints from the first half. Plus, now that the government has given its citizens the O.K. to be unhappy about things from 2012 and 2013 again, it’s all set to be even busier soon. Read more »

  • 27 Aug 2014 at 1:02 PM
  • Banks

BNY Mellon Loses Lucrative Argentine Market

Just kidding: There was nothing lucrative at all about the Argentine market for BNY, only trouble. But Cristina Kircher & co. have been kind enough to deal with that problem for their estranged trustee bank. 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 »

The corpse of Lehman Brothers wants the Second Circuit Court of Appeals to take a really close look at the part of its bankruptcy that say “no cash” should go to Barclays when it bought Lehman’s brokerage. Because, you know, their honors this month said that Barclays could have $4 billion in cash from the brokerage, and, not to belabor the point, but that seems like a lot more than “no cash.” Read more »