Not that many Occupy Wall Street participants are actively checking their stock quotes or anything but it appears that they are actually winning. Today two of the last remaining Wall Street giants are getting the Gulliver in Lilliput treatment as their stock prices are tied down and speared to death in a classic sell-first-ask-questions-later hellstorm in the equity markets. No one trusts Morgan Stanley (now majority owner of Smith Barney) and Bank of America (Merrill Lynch) may actually be better off dead than alive if you were to read The Street’s consensus opinion into it’s unimaginable share slide down to the sub-$6 level. In the meantime, Credit Suisse is out with a report predicting a massive loss for Goldman Sachs this quarter and UBS is still running around like a Swiss chicken with its head cut off in the wake of the $2 billion “unexpected” trading loss and the CEO’s departure.
Jason Philyaw was a reporter with HousingWire through mid-2012.see full bio
Most Popular Articles
Latest Articles
Akron looks to deflate minimum lot size rules to spur infill
Leaders in Akron, a heartland city nearly 40 miles south of Cleveland, hope to shed the city’s “Rust Belt” label and drive its emerging revival by making it easier to build new homes. To achieve the objective, planners believe they’re on the verge of eliminating minimum lot sizes to counteract a shrinking-city paradox. Population loss […]
-
Mortgage Forward to acquire First Federal Bank’s TPO division
-
Nest Egg Protection Act would raise capital gains tax exclusion for senior home sellers
-
Drees Homes bets on operational leadership for next century
-
Synergy One to merge with APM; Steve Majerus named president
-
HUD seeks feedback on FHA minimum property requirements
Jason Philyaw was a reporter with HousingWire through mid-2012.see full bio