What is MSSB Worth?

“Morgan Stanley has agreed to buy the rest of its brokerage joint venture from Citigroup Inc over time at a price that values the business at $13.5 billion”

Earnings Thoughts

1.  Bank of America and Morgan Stanley earnings are “good”.  There are some strange things going on with the DVA calculations and how they contribute/detract from the quarter, but this has been going on for months now and people on TV are talking about it so it is officially rendered a non-factor. 2.  Morgan Stanley…

Break 'Em Up Now, We've Seen Enough

Fresh outrage this evening as Bob Ivry, Bradley Keoun and Phil Kuntz (tough name) break an incredible story about the secrets of the 2008 bailouts.  Banks fought to keep these details a secret, but Bloomberg Markets Magazine successfully sued for the truth. Here goes: The Federal Reserve and the big banks fought for more than…

Season of the Witch

Samhain was the original ancient name for Halloween…and as October 2011 begins, we find ourselves at the very nearest to the World of the Dead that we’ve been since the March 2009 lows.