Opening Bell: 12.2.16

More knocks against Mnuchin; Gross not sold on Trump rally; nude man seeks love at Mormon church; and more.
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Trump Voter Lost Her Home To New Treasury Secretary (AP)

Probably what keeping this promise is going to take.

Probably what keeping this promise is going to take.

When Donald Trump named his Treasury secretary, Teena Colebrook felt her heart sink. She had voted for the president-elect on the belief that he would knock the moneyed elites from their perch in Washington, D.C. And she knew Trump's pick for Treasury – Steven Mnuchin –all too well. OneWest, a bank formerly owned by a group of investors headed by Mnuchin, had foreclosed on her Los Angeles-area home in the aftermath of the Great Recession, stripping her of the two units she rented as a primary source of income.

Italy Has Requested Possible Monte dei Paschi Bailout: Paper (Reuters)

Italy's third-largest bank needs to raise 5 billion euros ($5.3 billion) by the end of the year to plug a capital shortfall identified by European Central Bank stress tests or face the risk of being wound down. Quoting sources with knowledge of the matter, Italian daily Corriere della Sera said that Italy had already filed a request to launch a public recapitalization of Monte dei Paschi as early as next week.

Singapore To Ban Former Goldman Sachs Star Banker Amid 1MDB Probe (FT)

Tim Leissner, the former star dealmaker for Goldman Sachs in Southeast Asia, is to be banned from Singapore’s securities industry for 10 years over breaches relating to the multibillion-dollar scandal at Malaysia’s troubled state investment fund 1MDB, while Standard Chartered and Coutts have both been fined.

Gross Warns That Trump Rally Built on False Promise of Growth (BBG)

Bill Gross isn’t buying the Trump rally and the prospects for growth driving it. “A strong dollar and continuing structural headwinds including aging demographics, de-globalization trade policies, and accelerating debt-to-GDP in almost all countries at now higher interest rates, promise to contain productivity at perhaps 1 percent annual growth rates and therefore real GDP growth at 2 percent,” he wrote.

Want Groceries in Venezuela? First Stop at Six ATMs (BBG)

A package of rice would cost 3,500 bolivars, more than half the daily withdrawal limit, and the automated teller machine might be empty by the time her turn came. Maybe Domingris Montano could hit a few more before dark? “I’ve had to go to six different ATMs just to get 6,000 bolivars,” said Montano.

Wells Fargo Splits Chairman And CEO Roles After Investor Pressure (FT)

Wells’ decision is noteworthy in a sector that has largely resisted such demands — and some corporate governance experts said it should encourage other banks to do the same.

Twitter Changes Product Head for Third Time In A Year (Reuters)

Twitter Inc appointed Keith Coleman, founder of startup Yes Inc, as head of its product team, the third executive to lead the division in less than a year. The micro-blogging service said it has acquired Yes, the maker of apps such as Frenzy and WYD-What you doing, which allows users to connect with their friends.

New Viacom CEO Interested In Acquiring A Piece Of Vice (NYPost)

Viacom’s new chief executive, Bob Bakish, is joining a conga line of big media companies weighing a plan to acquire an interest in Vice, the millennial-focused news and pop culture destination that has been expanding around the globe, The Post has learned.

Naked Man Was Looking For A Wife At Mormon Temple (AP)

Authorities say a man in northern Utah was arrested after he was caught wandering naked on the grounds of a Mormon temple and told police he was looking for a wife. The 53-year-old dropped a blanket around his waist and climbed the gate of The Church of Jesus Christ of Latter-day Saints temple in Logan on Nov. 13. Police say he told investigators that he was naked because that's how he entered the world.

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Opening Bell: 3.20.17

Deutsche Bank is getting more creative; apparently there was a Trump rally; gigantic swastikas brighten Phoenix's skyline; and more.