Hints and tips:
...& Wardwell in New York, president of Merrill Lynch China and chair of JPMorgan China....
...In 2006, the well-connected Fink learnt that Merrill Lynch’s new CEO Stan O’Neal was open to the idea of selling the investment bank’s sprawling money-management arm....
...The bank trades at a premium to tangible book value, better than Citigroup, but worse than JPMorgan and Wells Fargo. Mr Moynihan told Forbes in May: “I have this job for a short time....
...Goodwin also knows the hosts well, the American investment bank Merrill Lynch....
...Separately, banks are facing litigation from trusts representing investors in pools of mortgage bonds....
...The bank reached an agreement on Monday with MBIA under which the large bond insurer will drop a lawsuit that accused BofA’s Merrill Lynch investment bank of misrepresenting the quality of mortgage-backed...
...So for instance, assuming CMBS loans originated by GE, Bank of America, Bear Stearns, GMAC and Wells Fargo since 2003 probably have MERS language in their deal documents....
...Archstone was a millstone for Lehman, part of a crippling $30bn-plus in property assets that the bank could not sell and investors could no longer tolerate....
...Last week, for example, Merrill Lynch sold a portfolio of complex debt at 22 per cent of its face value, even though this had carried the top-notch triple-A rating....
...Unlike Citi and Merrill, JPMorgan was never a significant creator of collateralised debt obligations backed by residential mortgages – a decision that is now paying off for the bank....
International Edition