Sept. 14 (Bloomberg) — Joseph Stiglitz, the Nobel Prize- winning economist, said the U.S. has failed to fix the underlying problems of its banking system after the credit crunch and the collapse of Lehman Brothers Holdings Inc.
“In the U.S. and many other countries, the too-big-to-fail banks have become even bigger,” Stiglitz said in an interview yesterday in Paris. “The problems are worse than they were in 2007 before the crisis.”
via Stiglitz Says Bank Problems Bigger Than Pre-Lehman... Read Full Story
Barclays Plc, the U.K.’s second- biggest lender, plans to hire as many as 1,000 people, including investment bankers at its Barclays Capital unit, by the end of the year to compete in mergers advice and share sales. “It would be tilted towards Asia. We need another six to twelve months to complete the build-out,” Barclays President Bob Diamond, 58, said today in an interview. “Equities, advisory and emerging markets would be the areas.” Earnings at Barclays Capital rose to 1.05 billion pounds... Read Full Story
Frozen Assets
Below is a quick update on the Lehman Brothers frozen assets situation:
Despite a legal setback, the administrators of Lehman Brothers’ European arm still hopes to expedite the return of billions in frozen prime brokerage assets to the collapsed investment bank’s former clients.
Steven Pearson and Tony Lomas of PricewaterhouseCoopers told The Wall Street Journal that they plan to meet with Lehman’s clients, including hedge funds, today in an effort to find a way to... Read Full Story
Posted By: Reuters President Barack Obama tried Monday to revive a stalled push for stricter oversight of Wall Street, using the anniversary of Lehman Brothers' collapse to argue for sweeping regulatory changes. Read More
Topics: Banking | Barack Obama | White House | Politics & Government Sectors: Banks Companies: Freddie Mac | Fannie Mae | Merrill Lynch & Co Inc | Wachovia Corp | Washington Mutual Inc | Lehman Brothers Holdings Inc | American International Group Inc MEDIA... Read Full Story
Posted By: Reuters For Barclays and Nomura, the collapse of Lehman Brothers was the opportunity of the lifetime — a chance to grab a seat at banking's top table as Wall Street's giants fell. Read More
Topics: Bankruptcy | Mergers & Acquisitions | Banking Sectors: Financial Services | Banks Companies: Nomura Holdings Inc ADR | Barclays PLC | Lehman Brothers Holdings Inc Permalink Read more: http://www.cnbc.com/id/32795762?__source=RSS*tag*&par=RSS Read Full Story
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The dollar traded within a half-cent of the weakest level against the euro since before Lehman Brothers Holdings Inc.’s bankruptcy on bets the Federal Reserve will trail other central banks in increasing borrowing costs.
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Posted By: CNBC.com Banks have stabilized since the collapse of Lehman Brothers one year ago, but failures will continue at a "good clip" for the rest of 2009, FDIC Chairman Sheila Bair told CNBC. Read More
Topics: Banking | FDIC Sectors: Banks Companies: Lehman Brothers Holdings Inc MEDIA: PHOTO
Permalink Read more: http://www.cnbc.com/id/32859454?__source=RSS*tag*&par=RSS Read Full Story
Sept. 14 (Bloomberg) -- Joseph Stiglitz , the Nobel Prize- winning economist, said the U.S. has failed to fix the underlying problems of its banking system after the credit crunch and the collapse of Lehman Brothers Holdings Inc . “In the U.S. and many other countries, the too-big-to-fail banks have become even bigger,” Stiglitz said in an interview yesterday in Paris. “The problems are worse than they were in 2007 before the crisis.” http://bit.ly/zLM20 Read Full Story
Below is the full text of Concurrent Resolution 184 introduced in the United States House of Representatives by Congressman Gregory W. Meeks , who represents the sixth district of New York, on September 14th. The purpose of the resolution is described as: Expressing the sense of the Congress that the bankruptcy proceedings of Lehman Brothers Holding Inc. and Lehman Brothers Europe Inc. be resolved in an equitable and expeditious process between the United States and United Kingdom, and that... Read Full Story
Posted By: Reuters Despite the upcoming anniversary of Lehman Brothers Holdings' collapse and the tumult that subsequently rocked Wall Street a year ago, the mood in the market is likely to be more optimistic than gloomy. Read More
Topics: Earnings | Nasdaq | NYSE | Stock Picks | Stock Market Companies: Procter & Gamble Co | FedEx Corporation MEDIA: PHOTO
Permalink Read more: http://www.cnbc.com/id/32823685?__source=RSS*tag*&par=RSS Read Full Story
