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Opening Bell: 01.14.09

Deutsche Bank Reports $6.3B Loss (Bloomberg)
"The fourth-quarter loss reflects "exceptional market conditions, which severely impacted results in the sales and trading businesses, most notably in credit trading including its proprietary trading business, equity derivatives and equities proprietary trading," the bank said in the statement."
Translation: Deutsche Bank got their collective asses handed to them - but the bitch of quarter is still Citi at $10B down.
HSBC Holdings Needs $30B, Condom, And Lube (MarketWatch)
Morgan Stanley is bearish on the European giant, estimating they need to raise between $20B and $30B on top of a dividend cut in order to meet a capital shortfall.
"The "world's local bank" has 57% of its loan book in the U.S. and the U.K., making it highly exposed to the credit cycle."
UBS Broker Declared Fugitive (CNBC)
Raoul Weil, the UBS broker so beloved by American citizens and IRS auditors has failed to surrender himself to U.S. Authorities on Tuesday. Weil, you'll remember, was the UBS point-man in the attempt to help more than 17,000 people keep their money from confiscation by the US. In a way, I feel sorry for the guy: given all the recent atrocities in the financial markets his little tax fraud scheme is minor, but (as the government does) they're going to come at him with the hammer of God because failing to do so would cause public scorn.
Chrysler Might Be For Sale, After All (Reuters)
Contradicting the position statement ran a couple of days ago, it looks like Chrysler might be positioning for a sell off:
"Struggling U.S. automaker Chrysler is in talks to sell assets to Renault-Nissan and parts supplier Magna, sources with knowledge of the discussions have told Reuters, though the French automaker Wednesday denied such talks were under way."
Man Group Assets Fall 21%; Shares Decline In London (Bloomberg)
"Man Group Plc, the largest publicly traded hedge-fund manager, said assets under management fell 21 percent in the last three months of 2008, more than expected, as it wrote down two funds linked to Bernard Madoff.
Man Group dropped as much as 11 percent in London trading after the firm said in a statement that assets under management were $53.3 billion as of Dec. 31, down from $67.6 billion at the end of September and $61 billion at the beginning of November. The firm had been forecast to report about $55.6 billion of assets under management, according to analysts at UBS AG."