Hints and tips:
...In 2009, Mnuchin led a group of private equity investors that bought IndyMac, a mortgage lender that failed in the 2008 financial crisis, from the Federal Deposit Insurance Corporation....
...Mnuchin and Joseph Otting, the former regulator who has taken over as NYCB chief executive, have a history of rebuilding troubled lenders: they bought failed mortgage lender IndyMac from the FDIC in 2008...
...Analysts said the closest precedent was the 2008 collapse of mortgage-focused bank IndyMac....
...the ~$50bn HTM MBS portfolio might hit the market....
...The board answers to a council chaired by MBS, noted the former investment banker, who answers to the king....
...They’re not out of the woods yet — as shown by, and also because of, MBS prices....
...Anticipation of the FDIC’s sales has already hit MBS prices....
...At MB Malik, a cricket-goods manufacturer whose bats are used by some members of the Pakistani national team, craftsmen cut and shave hunks of imported English willow to make bats by hand in a labour-intensive...
...The cuts place the MBS ETF’s price on par with its biggest competitors....
...Richemont purchased resale site Watchfinder in 2018, while MB&F offers a trade-in service and Ninety in London’s Mayfair is a dedicated store for Richard Mille’s certified pre-owned watches....
...But it was known that ultimately “all the decisions come from MBS” — a reference to the crown prince. Some foreign institutions can still invest, but through limited channels....
...American Media Inc, the tabloid’s owner, denied the reports and said its source was Ms Sanchez’s brother, Michael. Saudi officials also denied the kingdom was involved....
...Banks' demand for HQLA buffers could lead to interesting dynamics as central banks unwind their balance sheets, as quality collateral like US Treasuries and MBS with potential reuse is generally preferred...
...But MBS, as he is known, has also escalated the war in Yemen, placed senior members of the Saudi royal family under arrest as part of an anti-corruption drive, and faced a storm of international criticism...
...Recent deals between regional banks — most notably Fifth Third’s $5bn bid for MB Financial in May — have been greeted with scepticism by investors concerned about mergers attempted at the peak of the economic...
...He called the Yemen war “the biggest tragedy of the MBS era”, referring to the crown prince by his initials....
...Brash and unpredictable, Tesla’s Elon Musk and Saudi Crown Prince Mohammed bin Salman (MbS) make a good match....
...In Monday’s deal, worth about $4.7bn, MB shareholders will receive $5.54 in cash for every share they own of MB Financial and 1.45 shares of Fifth Third common stock, which last closed at $33.56 a share....
...In May, Cincinnati-based Fifth Third agreed to buy Chicago’s MB Financial for $4.7bn....
...Shares in Fifth Third slumped the most in almost two years on Monday, down 8 per cent, after investors turned their nose up at the MB deal....
...The market’s negative response to the Synovus deal — and others, such as Fifth Third’s bid for MB Financial — risks discouraging other boards from making bids....
...If it wasn’t for the existence of maniacs fellow visionaries with bottomless pots of cash ( SoftBank and MBS), this would be treated as the ravings of a lunatic, right?...
...Then, in January 2015, an “event of default” notice was sent to more than 100 MBS trusts which Ocwen was servicing, alleging improper behaviour and bringing the company to its knees....
...He expects issuance of nonprime MBS to top $10bn this year....
...MbS is coming to London next week. In case he’s out there reading this, DD would love to know more about what the PIF is up to....
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