It is the 20th of September 2019

News

Euro Banks Still Can't Value Their Own Equity Research; Subscriptions Range From $50k - $600k A Year

Literally no one knows the true 'value' of research, not even the investment banks that are selling it.  Up until now, equity research has been treated as a 'freebie' given away to institutional clients in return for trading commissions but that is all about to change thanks to the European Union’s MiFID II regulations, which require asset managers to separate trading commissions from investment-research payments.

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Days After Wells Fargo Admits Defrauding The Government, NY Fed Rewards It With Primary Dealer Status

Back on April 9 we described the latest example of how criminal Wall Street behavior leads to zero prison time and just more slaps on the wrist, when Warren Buffett's favorite bank, Wells Fargo, admitted to "deceiving" the U.S. government into insuring thousands of risky mortgages.  According to the settlement, Wells Fargo "admits, acknowledges, and accepts responsibility" for having from 2001 to 2008 falsely certified that many of its home loans qualified for Federal Housing Administration insurance.

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