Items Tagged with 'John Mack'


  • Morgan Stanley Posts $159m Q2 Loss after TARP Repayment

    New York-based Morgan Stanley [stock MS][/stock] reported a $159m quarterly loss, or $1.37 per share, after TARP capital repayments. Morgan Stanley closed its deal with Citigroup for controlling interest in Smith Barney on May 31, a transaction worth $11.1bn, according to Citi’s Q209 report, issued last week. The deal closed earlier than expected.
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  • Morgan Stanley Looking at U.S. Regional Banks: Report

    Morgan Stanley [stock MS][/stock] is looking at the acquisition of various regional U.S. banks as part of a strategy to boost deposits, ostensibly driving future lending at the financial firm, according to published media reports citing an exclusive interview in the Nikkei newspaper Tuesday.
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  • NACA Targets Mortgage Investor as 'Predator'

    The Neighborhood Assistance Corporation of America and its leader, Bruce Marks, are moving their controversial and confrontational model of consumer activism towards Wall Street, as the nation's housing crisis moves onward. This past Sunday, Marks and 350 to 400 fellow protesters were bused in by his non-profit group to stage a protest in front of the Greenwich, CT home of William Frey, manager of Greenwich Financial Services.
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  • Morgan Stanley Posts Larger-than-Expected Q4 Loss

    Morgan Stanley [stock MS][/stock] on Wednesday posted a substantial fourth-quarter loss of $2.19 billion, or $2.24 per share, driven by "unprecedented market turmoil" and mortgage-related write-downs. Fixed income sales and trading -- which include its mortgage business -- registered net losses of $1.2 billion.
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  • Morgan Stanley Mulls Deal; End of Independent Investment Banks?

    (Update 1: noted Times retraction) Media reports are suggesting Thursday morning that Morgan Stanley [stock MS][/stock] -- one of only two independent investment banks left standing -- has begun the process of finding a merger partner. Whispers about the future of both Morgan Stanley and fellow independent i-bank Goldman Sachs [stock GS][/stock] have grown much louder in the back half of this week, in the wake of the failure of Lehman Brothers Holdings Inc. [stock LEH][/stock] on Monday.
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