"US banks enjoy best profits since 2006" — Fourth-quarter industry report card from the FDIC, which warns that the strong earnings are probably not sustainable for long.
New York Times
"S.E.C. Nominee Tries to Allay Skepticism" — Mary Jo White wages a "Congressional charm campaign" ahead of her Senate confirmation hearings. Also, new documents reveal she did some legal work for former HSBC CEO Michael Geoghegan, in addition to her previously disclosed financial services clientele.
"Wall Street Pay Rises, for Those Who Still Have a Job," according to bonus data from the New York state comptroller.
Remember the debate in late 2011 over a proposed "Tobin tax" on financial transactions? Such a tax could have unintended consequences, Steven M. Davidoff warns in his latest "Deal Professor" column, citing the experience of New York State and other jurisdictions. (The New York tax, created in 1905, was phased out beginning in the 1970s but technically is still on the books. Weirdly, the money is collected but immediately returned to the payer now.)
Dodd-Frank's mandatory "say on pay" votes may turn out to harm shareholders, according to this contrarian op-ed by a Jones Day lawyer.
Be the first to comment on this post using the section below.