Write about Wall Street for the WSJ's Heard on the Street. Formerly: Wall Street lawyer, DealBreaker EIC, BI managing editor, CNBC NetNet founder. Trouble maker

Deal Craze May Leave Investors Dazed

wsj.com — Champagne corks are popping on Wall Street over the rising wave of M&A activity, but investors might not have as much to celebrate Buyer beware. While the current wave of mergers and acquisitions is a bonanza for Wall Street, history tells a cautionary tale for investors.
Aug 02, 2015

RT @Dealpolitik: Could all those deals really be such good deals? Deal craze may leave investors dazed on.wsj.com/1M5cEYz via @WSJ

Aug 02, 2015

RT @Dealpolitik: Could all those deals really be such good deals? Deal craze may leave investors dazed on.wsj.com/1M5cEYz via @WSJ

Aug 02, 2015

RT @Dealpolitik: Could all those deals really be such good deals? Deal craze may leave investors dazed on.wsj.com/1M5cEYz via @WSJ

The Bank Tax And The Constitutional Ban On Bills Of Attainder

businessinsider.com — (Note: this is the single page version. For an easier to read paginated version, click here.) When it was reported that a lawyer for the banking lobby planned to challenge the bank tax recently proposed by president Barack Obama, my initial reaction was to scoff. Many of my fellow lawyers had similar reactions.
Jul 29, 2015

@aawnc123 I’ll have to think more about it. My first impression is that it’s unconstitutional for reasons like these: businessinsider.com/the-bank-tax-a…

The Chief Problem Facing BofA

wsj.com — The unexpected exit of BofA's CFO could refocus investors on the bank's long run of disappointing returns. The surprise departure of a top executive is rarely welcome for investors. Even less so if the executive is chief financial officer of a giant financial firm like Bank of America.

How Moynihan Forced Sallie Krawcheck Out

cnbc.com — Krawcheck ran the Merrill Lynch financial advisory business as well as the US Trust advisory business. But she was an outsider at Bank of America , with few ties to any of the powerful cliques within the bank. Officially, her position was eliminated as part of company streamlining.
Jul 23, 2015

Fascinating to see that David Darnell is retiring. I wrote a lot about him back in 2011. cnbc.com/id/44417689 $BAC

Bridget Bardot calls Australia’s plan to exterminate feral cats ‘inhumane’

dailymail.co.uk — Government proposal is aimed at stopping cats harming native animals It got a savage response from Ms Bardot who was 'appalled' by the move But government stress that the purge will be carried out humanely Feral cats identified as main culprit behind Australia's mammal extinction She may have been called a sex kitten in the 1960s, but Brigitte Bardot is now better known as an animal rights activist and she's got her claws stuck into an Australian plan to cull two million feral cats.

How Proxy Access Hurts Shareholders

businessinsider.com — One of the costs of economic downturns seems to be poorly thought out regulations. In the early part of this decade we got Sarbanes-Oxley. And now it seems we're faced with the threat of having the SEC foist proxy access rules on companies across the country.

Big Banks’ Stress Level Is Rising

wsj.com — The Fed gave big banks some ground on a capital surcharge, but took some back on stress tests. Big banks scored a minor regulatory victory Monday. But this may be overshadowed by comments from Federal Reserve officials indicating that annual stress tests could become even more stringent.

Morgan Stanley’s Bank Shot

wsj.com — Morgan Stanley's faith in wealth management is paying off. But this isn't quite like a revival of the old-time religion of retail brokerage. The Wall Street firm reported second-quarter profit of $1.81 billion, down from $1.9 billion a year earlier. Revenue rose 13% to $9.74 billion. Both beat analyst forecasts.

Policeman under fire for high-fiving far right protestor at anti-Islam rally

dailymail.co.uk — The image prompted outrage on socialists websites and blogs However, police call it a 'split second action in a dynamic environment' More than 400 uniformed officers were deployed by Victoria Police Capsicum spray used to break up clashes between Melbourne protesters On Sunday more clashes erupted between protesters in Sydney Following clashes between right-wing protests and left-wing counter-demonstrations in Melbourne on Saturday tensions rose again when an image was posted on social media showing a Victoria police officer giving an anti-Islam protester a high-five.
Jul 19, 2015

Policeman under fire for high-fiving far right protester in Melbourne dailym.ai/1RI23WS

Jul 20, 2015

RT @barclaycrawford: Why did this Melbourne cop high-five far right protester at anti-Islam rally? dailym.ai/1RI23WS @DailyMailAU pic.twitter.com/VQSyUPC5JO

Citi May Finally Slip Its Cuffs

wsj.com — Stronger-than-expected results could help boost the bank's valuation Citigroup looks like it could be ready for parole. The $4.8 billion second-quarter profit the bank reported Thursday was far stronger than expected. Excluding accounting adjustments and the impact of a mortgage-litigation settlement that nearly...
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Jul 30, 2015

Gives new meaning to the phrase "heat map." (Or: old meaning?) Map: These Are NYC's Scorching Hot Subway Stations bit.ly/1eCVimY

Jul 29, 2015

@aawnc123 @MarkCalabria Well, as I said, if already written into charters or HERA, could be legal.

Jul 29, 2015

@aawnc123 I think agency could do it as conservator, though. Need to check HERA and DFA, though.

Jul 29, 2015

@aawnc123 I’ll have to think more about it. My first impression is that it’s unconstitutional for reasons like these: businessinsider.com/the-bank-tax-a…

Jul 28, 2015

I learned about a new food here in Iowa: the walking taco. Still not sure what it is. A taco in a bag, it seems.

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