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POPSAlways Bet On The Hermès Ties Rob Cox gives a history lesson of why it is the investment bankers who usually come out on top in banking marriages no matter how good or bad the deal is, and the Merrill-BofA one doesn't look so great.
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POPSCentral Banks At Risk Just Like Wall Street's Finest This really is a bucket of cold water. The author is Kenneth Rogoff, professor of economics and public policy at Harvard, writing in the U.K.'s Guardian newspaper. His core point is that central banks, in shoring up national banking industries by taking on financial firms' bad debt, are only putting themselves at risk.
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POPSGoldman Cuts View On 5 Top U.S. Investment Banks Tanona recommends a trade in which investors buy Morgan Stanley shares and sell Citigroup shares short. He says Morgan Stanley is one of the brokers best positioned for a market turnaround, while Citigroup will remain heavily exposed to mortgages and consumer credit issues.
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POPSNYSE Euronext Beats LSE To Doha Deal The deal with NYSE Euronext is part of Qatar’s master-plan for revamping its financial architecture as it aims to raise the standards of its stock market and banking system in anticipation of windfall from gas exports in the coming years that will double government revenues.
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POPSPaulson Urges Stronger Fed Role On Wall St. Reiteration of the thrust of the Treasury's blueprint from earlier this year as Washington's tries to work out how to get out of the situation the Fed created by flooding the banks with lifeboat liquidity.
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POPSRegulators And Bankers Defend Bear Sterns Rescue Very much the party line, but underlines the wider risk to the economy had the investment bank failed. And U.S. bankers and regulators are not having to defend a government takeover as is the case in the U.K. over Northern Rock.
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POPSInflation Is Like Absinthe From a thoughtful speech by Fed Governor Richard Fisher on the challenges for monetary policy in a globalized economy and the importance of keeping inflation contained.
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POPSFBI's subprime crackdown may expand to more firms The investigations cover companies across the financial services industry, ranging from mortgage lenders and investment banks to developers and subprime lenders, and cover possible accounting fraud, insider trading and other violations of criminal law.