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	<title>Observer &#187; Brokerage Decision May Favor Morgan Stanley Over Citi; Regulator Who Probed Insder Trading Commits Suicide: Roundup</title>
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		<title>Observer &#187; Brokerage Decision May Favor Morgan Stanley Over Citi; Regulator Who Probed Insder Trading Commits Suicide: Roundup</title>
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		<title>Brokerage Decision May Favor Morgan Stanley Over Citi; Regulator Who Probed Insder Trading Commits Suicide: Roundup</title>

		<comments>http://observer.com/2012/09/brokerage-decision-may-favor-morgan-stanley-over-citi-regulator-who-probed-insder-trading-commits-suicide-roundup/#comments</comments>
		<pubDate>Tue, 11 Sep 2012 07:23:41 -0400</pubDate>
					<link>http://observer.com/2012/09/brokerage-decision-may-favor-morgan-stanley-over-citi-regulator-who-probed-insder-trading-commits-suicide-roundup/</link>
			<dc:creator>Patrick Clark</dc:creator>
				
		<guid isPermaLink="false">http://observer.com/?p=262069</guid>
		<description><![CDATA[<p>Morgan Stanley is going to <a href="http://www.nypost.com/p/news/business/ms_wins_out_on_brokerage_valuation_Gib1rZLPzyjhMFiWZpL1OP">win out</a> over Citigroup when a mediator places a value on the <strong>Morgan Stanley Smith Barney</strong> brokerage, <em>The New York Post</em> reports. The two banks have disputed the value of the joint venture: Morgan Stanley, which owns 51 percent of the brokerage and plans to acquire remaining shares, said the joint venture was worth $9 billion. Citi, meanwhile, submitted a $22 billion valuation. Citing an unnamed source, <em>The Post </em>says the mediator is likely to value the brokerage between $10 and $15 billion, which could be an <a href="http://www.businessweek.com/news/2012-08-27/morgan-stanley-win-on-brokerage-would-be-pyrrhic-victory#p3">especially good result</a> for Morgan Stanley.</p>
<p><strong>Tadahiro Matsushita</strong>, the Japanese official leading a recent crackdown on insider trading, <a href="http://www.bloomberg.com/news/2012-09-10/japan-financial-services-minister-matsushita-dies-at-73.html">died yesterday</a> in what police concluded was a suicide. Mr. Matsushita's investigation, which Bloomberg reports was not yet complete, led to the resignations of Nomura Holding's chief executive officer.</p>
<p>With the government reducing its stake in <strong>AIG</strong>, Andrew Ross Sorkin and Neil Barofsky had a telephone conversation about how taxpayers have fared in the bailout.</p>
<p>A German court will rule tomorrow on the legality of the <strong>European Central Bank's</strong> new <a href="http://www.reuters.com/article/2012/09/11/us-eurozone-germany-court-idUSBRE88A08920120911">bond-buying program</a>.</p>
<p>With the ECB set to start buying sovereign debt, investors' bets on European bonds are <a href="http://dealbook.nytimes.com/2012/09/10/bets-on-european-bonds-paying-off-for-funds/">looking pretty smart</a>.</p>
<p><strong>Deutsche Bank</strong> will cut costs by $5.8 billion in order to meet new regulatory <a href="http://www.bloomberg.com/news/2012-09-11/deutsche-bank-aims-for-return-on-equity-of-at-least-12-.html">capital requirements</a>, the bank said.</p>
<p><strong>Carl Icahn </strong>called the board of directors at Navistar International, the truck and diesel engine maker, a “poster child for abysmal business decisions and poor corporate governance.” <a href="http://www.nypost.com/p/news/business/truck_off_carl_ondxHHtBI0c7ikFjnlM6WL">Navistar answered</a> that despite Mr. Icahn's “unproductive tactics of threats, attacks and disruption,” the board knows what it's doing.</p>
<p>Court bailiffs in Hong Kong evicted <strong>Occupy</strong> protestors from <a href="http://www.bloomberg.com/news/2012-09-11/hsbc-says-court-to-evict-hong-kong-occupy-protesters-today-1-.html">HSBC headquarters</a>.</p>
<p>Treasury Secretary <strong>Tim Geithner</strong> finished ninth in the 50 to 54 age group at a <a href="http://dealbook.nytimes.com/2012/09/10/geithner-holds-his-own-on-triathlon-front/">recent triathlon</a>.</p>
<p>There's a 4 percent chance <strong>Ron Paul</strong> is the <a href="http://www.businessinsider.com/morgan-stanley-ron-paul-fed-chairman-in-2014-2012-9">next chairman</a> of the Federal Reserve, according to Morgan Stanley (via Business Insider).</p>
<p>Canadian banks! <a href="http://www.bloomberg.com/news/2012-09-10/banks-grow-amid-cutbacks-in-london-new-york.html">Hiring</a> amid cutbacks at financial firms elsewhere.</p>
]]></description>
		<content:encoded><![CDATA[<p>Morgan Stanley is going to <a href="http://www.nypost.com/p/news/business/ms_wins_out_on_brokerage_valuation_Gib1rZLPzyjhMFiWZpL1OP">win out</a> over Citigroup when a mediator places a value on the <strong>Morgan Stanley Smith Barney</strong> brokerage, <em>The New York Post</em> reports. The two banks have disputed the value of the joint venture: Morgan Stanley, which owns 51 percent of the brokerage and plans to acquire remaining shares, said the joint venture was worth $9 billion. Citi, meanwhile, submitted a $22 billion valuation. Citing an unnamed source, <em>The Post </em>says the mediator is likely to value the brokerage between $10 and $15 billion, which could be an <a href="http://www.businessweek.com/news/2012-08-27/morgan-stanley-win-on-brokerage-would-be-pyrrhic-victory#p3">especially good result</a> for Morgan Stanley.</p>
<p><strong>Tadahiro Matsushita</strong>, the Japanese official leading a recent crackdown on insider trading, <a href="http://www.bloomberg.com/news/2012-09-10/japan-financial-services-minister-matsushita-dies-at-73.html">died yesterday</a> in what police concluded was a suicide. Mr. Matsushita's investigation, which Bloomberg reports was not yet complete, led to the resignations of Nomura Holding's chief executive officer.</p>
<p>With the government reducing its stake in <strong>AIG</strong>, Andrew Ross Sorkin and Neil Barofsky had a telephone conversation about how taxpayers have fared in the bailout.</p>
<p>A German court will rule tomorrow on the legality of the <strong>European Central Bank's</strong> new <a href="http://www.reuters.com/article/2012/09/11/us-eurozone-germany-court-idUSBRE88A08920120911">bond-buying program</a>.</p>
<p>With the ECB set to start buying sovereign debt, investors' bets on European bonds are <a href="http://dealbook.nytimes.com/2012/09/10/bets-on-european-bonds-paying-off-for-funds/">looking pretty smart</a>.</p>
<p><strong>Deutsche Bank</strong> will cut costs by $5.8 billion in order to meet new regulatory <a href="http://www.bloomberg.com/news/2012-09-11/deutsche-bank-aims-for-return-on-equity-of-at-least-12-.html">capital requirements</a>, the bank said.</p>
<p><strong>Carl Icahn </strong>called the board of directors at Navistar International, the truck and diesel engine maker, a “poster child for abysmal business decisions and poor corporate governance.” <a href="http://www.nypost.com/p/news/business/truck_off_carl_ondxHHtBI0c7ikFjnlM6WL">Navistar answered</a> that despite Mr. Icahn's “unproductive tactics of threats, attacks and disruption,” the board knows what it's doing.</p>
<p>Court bailiffs in Hong Kong evicted <strong>Occupy</strong> protestors from <a href="http://www.bloomberg.com/news/2012-09-11/hsbc-says-court-to-evict-hong-kong-occupy-protesters-today-1-.html">HSBC headquarters</a>.</p>
<p>Treasury Secretary <strong>Tim Geithner</strong> finished ninth in the 50 to 54 age group at a <a href="http://dealbook.nytimes.com/2012/09/10/geithner-holds-his-own-on-triathlon-front/">recent triathlon</a>.</p>
<p>There's a 4 percent chance <strong>Ron Paul</strong> is the <a href="http://www.businessinsider.com/morgan-stanley-ron-paul-fed-chairman-in-2014-2012-9">next chairman</a> of the Federal Reserve, according to Morgan Stanley (via Business Insider).</p>
<p>Canadian banks! <a href="http://www.bloomberg.com/news/2012-09-10/banks-grow-amid-cutbacks-in-london-new-york.html">Hiring</a> amid cutbacks at financial firms elsewhere.</p>
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