Morgan Stanley

What's Behind GM Upgrades?

Submitted by Mark Modica on Tue, 12/28/2010 - 15:00

JP Morgan Chase and Morgan Stanley have initiated coverage of General Motors stock with a positive recommendation, according to Bloomberg reports.  Coincidentally, both firms are the lead underwriters for GM's IPO. Underwriting fees paid to both JP Morgan Chase and Morgan Stanley were recently disclosed in a chart published by the Wall Street Journal showing fees and TARP money received by major underwriters for GM.

Did Green ShoreBank Escape Bankruptcy Because of Politics?

Submitted by Paul Chesser on Fri, 08/27/2010 - 16:49

Shorebank logoIt's been a week since the Federal Deposit Insurance Corporation swept away ShoreBank's bad assets (cost: $367.7 million), changed its name to Urban Partnership Bank, and left it largely in the hands of the same people (and investors) who ran it before. Since then there have been several articles that called the process and new arrangement "unusual." I guess institutions loved by two presidents call for special treatment.

FDIC Seizes ShoreBank; Installs Management in New Bank

Submitted by Paul Chesser on Mon, 08/23/2010 - 17:12

Shorebank logoOn Friday the Federal Deposit Insurance Corporation momentarily took over politically-connected ShoreBank, just long enough to relieve it of some of its woes and then turn it back over to the same people to continue its same failed mission. According to a press release, the FDIC Deposit Insurance Fund will take a $367.7 million hit in the transaction.

Bosses Threaten Wall Street over Lobbying

Submitted by Michael Nelson on Mon, 03/01/1999 - 01:00

Top AFL-CIO and AFSCME bosses have recently threatened several Wall Street firms with pulling union pension funds from anyone who dares to suggest individuals, rather than the federal taxpayer, be allowed to invest their Social Security dollars. The union threat letters went to nine firms that manage billions in pension assets for union members: Fidelity Investments, J.P.Morgan, State Street Global Advisors, Merrill Lynch, Morgan Stanley Dean Witter, Am. Express, Chase Manhattan, CitiGroup and Bankers Trust N.Y. [Washington Times 2/19/99]

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