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...US prosecutors on Wednesday also charged the two pilots, Patrick O’Connor and Bryan Waugh, with securities fraud. They pleaded not guilty....
...His Lehman banker bags sold out, and “significantly outperformed Bear Stearns”. The colours are better, he says....
...He managed to escape from the office on the night of St Patrick’s Day to celebrate at a nearby Irish pub named after James Joyce....
...The LDI crisis is spurring a seismic shift in the gilt market, writes Patrick Jenkins. Reduced demand from pension funds will change the government bond market....
...Apart from Alden, the company’s second-largest shareholder is Patrick Soon-Shiong, the pharmaceuticals billionaire who bought the Los Angeles Times and owns about 24 per cent of Tribune shares....
...But it’s also not a hedge fund either,” says Patrick Ghali, a hedge fund and family office consultant at Sussex Partners. “Even hedge funds don’t leverage themselves to this degree....
...The last time there was this level of mayhem in the markets, banks such as Northern Rock and Bear Stearns were teetering on the brink of collapse....
...Billionaires don’t want to fund losses for ever, as evidenced by the lay-offs at the LA Times, owned by biotech billionaire Patrick Soon-Shiong, Los Angeles’s second-richest man after Elon Musk, and The...
...The comfortable run experienced by the 63-year-old former chief economist of Bear Stearns on the path to the World Bank presidency marks a victory for the Trump administration, which will now have an avenue...
...Reflecting on the bank’s crisis-time decisions, Mr Dimon said JPMorgan would “act for the good of the system” if asked again, despite his regrets over his bank’s crisis-time rescue of Bear Stearns, which...
...The bank bulked up during the crisis by taking over the collapsing Bear Stearns and Washington Mutual....
...US deals Medium-sized banks see opportunities to grow A decade ago Gary Parr was in the thick of things at Lazard in New York advising on the sale of Bear Stearns to JPMorgan Chase and Lehman’s US business...
...Patrick Jenkins is the FT’s financial editor Still life photography by Aaron Tilley, set design by Sandy Suffield Additional pictures: Bloomberg...
...Another faction of policymakers believes the failure of standalone investment banks, such as Bear Stearns and Lehman Brothers, suggests the crisis would have happened with or without a Glass-Steagall split...
...Patrick Jenkins is the FT’s financial editor....
...The collapses of US banks Lehman Brothers and Bear Stearns during the financial crisis show that this worst-case scenario can happen....
...Pre-crisis, it missed the warning signals before the collapses of both Bear Stearns and Bernard Madoff’s Ponzi scheme....
....” – Patrick Shandonay, graduate of an executive education programme at Esade … “Based on 35 years of setting up and running businesses in Europe and Asia, I would suggest that anyone studying business...
...The two were instrumental in persuading Mr Dimon of the merits of acquiring Bear Stearns, the failed investment bank, in March 2008....
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