It’s not looking very good at all for Golden Bank. In the past seven days, no fewer than five analysts (Mike Mayo, Guy Moszkowski, Dick Bove, Meredith Whitney and Susan Katzke) have either downgraded its stock or reduced their profit forecasts. Moszkowski cites Goldies’ exceptional exposure to equities. Bove is characteristically blunt: he says business at Goldman has simply ‘dried up.’ (CNN).
Morgan Stanley and JPMorgan were downgraded too
Goldman goes for ABN’s private equity assets (
UBS circa 2006: ‘Is that a whistleblower I hear?” (Financial Times).
FSA hits Credit Suisse with fourth biggest fine ever (Financial Times).
All downhill for brokerage stocks when shorting rule comes to an end (Bloomberg).
Buy gold (Telegraph).
“The bond credit vigilantes are refusing to go into the saloon and start drinking what Wall Street’s financial engineers are mixing.” (New York Times).
Three jobs for the pay of one (Wall St. Journal).
Mr Mustachios calls for end to Chinese walls in research (DealBook).
Heard the one about the hedge fund on steroids? (Bloomberg).
Heard the one about Brian Hunter making a comeback? (Alphaville)
Of traders and lemmings (Infectious Greed).
McKinsey predicts banks’ emerging markets revenues bigger than US revenues by 2010
Darling, don’t turn off the special liquidity spigot (The Times).
TIIA-CREF is HIRING (Financial Times).