By Patrick Clark 9/12/12 7:49am

Morning Read

Morgan Stanley and Citigroup Reach Deal; UBS Whitsleblower Got Prison Sentence, $104 Million: Roundup

Morgan Stanley and Citigroup agreed to value Morgan Stanley Smith Barney at $13.5 billion, more than the outside bankers hired to mediate the deal said the joint venture brokerage was worth. According to Bloomberg, Perella Weinberg Partners priced the brokerage at the lower end of the difference between valuations submitted by Morgan Stanley and Citi, which would have resulted in a final price of less than $11.5 billion. The banks agreed on the higher value, however, fixing the price at which Morgan Stanley will acquire Citi’s stake in the partnership. Read More

By Sam Chandan 11/22/11 2:00pm

the lead indicator

Sam Chandan.

Core Investors Unfazed by Global Crisis and Domestic Imprudence

The potential for disruptions to global financial stability increased heading into last weekend. In Europe, both Germany and the European Central Bank rejected calls to expand the bailout to include large-scale bond purchases, insisting instead that the latter’s credibility depends upon its prioritization of price stability.

At a gathering of the Frankfurt Banking Conference, German Bundesbank president and European Central Bank Governing Council member Jens Weidmann said on Friday that “the economic costs of any form of monetary financing of public debts and deficits outweigh its benefits so clearly that it will not help to stabilize the current situation.” Read More