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Tesla Motors now more valuable than Italian auto giant Fiat
The rocketing stock price of electric sports car maker Tesla made it more valuable than Fiat Tuesday — even though the Italian auto giant produces 200 times more cars than the American upstart. After a more than 50 percent gain in the past week, Tesla’s market value topped $10 billion,…
Morgan Stanley hit with $5 million fine over Facebook IPO
Morgan Stanley agreed Monday to pay a $5 million fine to settle charges that it improperly handled crucial information on Facebook’s earnings ahead of the company’s disastrous IPO. The securities regulator of the state of Massachusetts had charged that Morgan Stanley, the lead underwriter for the $16 billion stock issue…
ACLU suit accuses Morgan Stanley of racist mortgage plans
The American Civil Liberties Union has accused Morgan Stanley of using racially-biased mortgage sales practices, Reuters reported Monday. The lawsuit accused the bank of targeting black customers for high-risk loan packages through a subprime lender, New Century Financial Corp. According to the suit, the bank made money selling the loans,…
Charges dropped against ex-Morgan Stanley exec who allegedly stabbed cabbie
William Bryan Jennings, a former top bond writer with Morgan Stanley, will no longer be charged in connection to an alleged assault on a cab driver last December in which the driver said Jennings refused to pay his fare and then stabbed him. According to Bloomberg News, police confirmed that…
World’s top banks hit with Moody’s downgrade
The health of 15 of the world’s largest financial institutions has been called into serious question after Moody’s downgraded their credit ratings, citing risk exposure and the eurozone crisis. Some of the biggest names in banking — including Goldman Sachs, Barclays, Citigroup, HSBC and Deutsche Bank — saw their ratings…
Bailed out Wall Street firm caught on tape: tells staff to deny payout is a bonus
Your tax dollars at work. Bush rolled out TARP with little oversight and this is why almost no one has sympathy for the banks and financial firms that have done everything in their power to keep living the high life on your dime. This Huff Post piece by Sam Stein…
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Stop whining about Millennials
By Pando Daily
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By Ana Marie Cox, The Guardian
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