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Opening Bell: 01.20.10

Morgan Stanley reports Q4 profit of $413 million (Reuters)
Morgan reported a quarterly net income of 29 cents a share, compared with a loss of $10.5 billion or $11.35 a share in the year-earlier quarter. It set aside $3.8 billion for compensation expenses in the fourth quarter.
Bank Of America Posts Narrower Loss (WSJ)
BAC posted a loss of $194 million in the fourth quarter.
Wells Fargo swings to profit; charge-offs rise (MarketWatch)
The bank reported fourth-quarter net income of $2.82 billion, or 8 cents a share, compared with a loss of $2.73 billion, or 84 cents a share, in the fourth quarter of 2008.
CIT Names Director Peter J. Tobin Interim Chief Executive Officer (BW)
Still waiting on an answer from Mr. T.
Hedge Funds Hold Investors 'Hostage' After Decade's Best Year (Bloomberg)
Some investors who asked for their money back in fall 2008 are not too happy: "We don't object to the illiquidity," Papastavrou said in an interview. "We object to how some managers are abusing the situation and holding investors' money hostage to generate fees."
John Paulson competing for cash with 'emerging' hedge funders (NYP)
Paulson is raising money! So are some other managers! One of whom used to work for him!
AIG Deal Holds Payback Hope (WSJ)
"[A deal with MetLife] could be that big first step so the government can show progress on AIG. Monetizing this is a key first step," a person familiar with the matter said.
Jeff Zucker: You Gotta To Take Risks (CNBC)