Receiving Wide Coverage ...
A Split Decision: Deutsche Bank said Anshu Jain, head of its investment bank, and Jürgen Fitschen, the German bank's head of regional management, will become co-CEOs of the bank next year when Josef Ackermann retires. One holdup, according to the Times, had been that Jain, a native of India who is not fluent in German, is regarded as not ready to assume the statesmanlike duties required of Deutsche Bank's chief. The Journal said the decision to have co-CEOs is "a compromise solution that could complicate decision-making at the top." The Post said the bank's stock prices rose after the announcement.
Greek Redux: The plan to prop up Greece looks "suspiciously like a plan to bolster European banks," a Times news analysis says. Banks are getting to unload much of their Greek risk onto the European Union. The Journal looks at the relationship between Prime Minister George Papandreou and opposition leader Antonis Samaras, the men who will ultimately decide the nation's fate. The men held secret talks to reach a deal. The paper warns, "If Mr. Papandreou's slim hold on Parliament fails, the whole bailout plan could fall apart."
Wall Street Journal
"Heard on the Street" raised
New York Times
"This Is Considered Punishment?" So begins Joe Nocera's column on the Fed's $85 million fine of Wells Fargo ("a joke," Nocera writes) for unfair practices during the subprime housing bubble. "The settlement raises the question that just won’t go away:
Andrew Ross Sorkin writes in Dealbook that the markets' "blasé response" to the administration's "sky is falling" warnings of a potential debt default "
The FDIC's National Mall softball team, which has only two wins this season, is named "
Washington Post
Massachusetts Attorney General Martha Coakley is about to seek documents filed by Reston-based Mortgage Electronic Registration Systems as part of an