(Scoboco)

Goldman Sachs, Morgan Stanley Ready To Drop $247 Million In Mail To Victims Of Foreclosure Abuses

Back in January, Goldman Sachs and Morgan Stanley announced a $557 million settlement “for deficient practices in mortgage loan servicing and foreclosure processing.” Later this week, the chunk of that money earmarked for payouts to affected consumers will be going out in the mail. [More]

(frankieleon)

Banks Uncover Additional Wrongful Foreclosures On Military Members

The Servicemembers Civil Relief Act (SCRA) is intended, in part, to help protect active-duty members of the armed forces from having their homes taken away by foreclosure, but as we’ve seen, this hasn’t stopped banks from ignoring the law and taking those houses anyway. Now comes a report that banks have recently uncovered hundreds of additional wrongful foreclosures on the homes of servicemembers. [More]

The Morgan Stanley exec who came up with this list of names is now working for JPMorgan Chase.

‘Nuclear Holocaust’ & ‘Sh!tBag’ Among Clever Names Morgan Stanley Bankers Gave To Toxic Mortgage-Backed Security

Federal prosecutor Lanny Breuer insists he has yet to find enough evidence to bring an indictment against a single Wall Street executive over the 2008 mortgage meltdown, yet lawyers in private lawsuits against the banks continue to turn up some gems — like this one from the Morgan Stanley e-mail vault. [More]

(Scoboco)

Goldman Sachs, Morgan Stanley Hit With $557 Million Settlement Over Foreclosure Practices

While most of the headlines about abusive or half-baked foreclosure practices have focused on the huge retail banks — Wells Fargo, Bank of America, Citi, Chase, et al. — the big investment banks haven’t exactly been let off the hook. [More]

I Accidentally Receive Millionaire Stranger's Financial Documents, Not His Cash

I Accidentally Receive Millionaire Stranger's Financial Documents, Not His Cash

If Avi had ever considered using Morgan Stanley to handle his imaginary millions, he’s probably reconsidering now. A UPS envelope showed up at his house with detailed financial statements from a complete stranger. It wasn’t a mixup, since Avi has no relationship with the firm. Why did this show up on his doorstep? [More]

Fed Orders Review Of Thousands Of Morgan Stanley Foreclosures

Fed Orders Review Of Thousands Of Morgan Stanley Foreclosures

Yesterday, Morgan Stanley finally finished selling off its one remaining unit involved in servicing subprime mortgages. Today, the Federal Reserve gave Morgan Stanley some unwelcome news: It must review thousands of foreclosures processed by that now-former subsidiary. [More]

Facebook Officially Files For IPO; World Continues To Turn

Facebook, the startup website that the kid from Squid & the Whale was accused of stealing from those twins in that pistachio commercial (or at least that’s what I learned from fast-forwarding through The Social Network), is finally set to join the ranks of the publicly traded. The company has filed papers for its initial public offering, which is expected to make a bunch of people really, really rich and maybe, just maybe, make us all love one another again. [More]

Morgan Stanley Data Breach Burns 34,000 Investment Clients

Morgan Stanley Data Breach Burns 34,000 Investment Clients

Morgan Stanley Smith Barney says it has lost two CD-ROMs containing password-protected but not-encrypted data from investment clients. A spokesman for the brokerage says there’s no evidence that there was criminal intent in the breach, or that the information has been misused. [More]

NY Attorney General Investigating Pre-Bust Hijinks At Bank Of America, Goldman Sachs & Morgan Stanley

NY Attorney General Investigating Pre-Bust Hijinks At Bank Of America, Goldman Sachs & Morgan Stanley

Just when you think the beleaguered bankers of the world can finally stop dealing with pesky investigations into their roles in the recent financial ugliness (some would call it a global economic meltdown), some Columbo-like snoop has to say, “Just one more thing” and open up all new cans of worms. The latest can-opener is New York state Attorney General Eric Schneiderman, who has reportedly begun a broad investigation of Goldman Sachs, Bank of America and Morgan Stanley. [More]

Feds Gave $220 Million In Bailout Bucks To Two Morgan Stanley Wives For Some Reason

Feds Gave $220 Million In Bailout Bucks To Two Morgan Stanley Wives For Some Reason

Rolling Stone’s Matt Taibbi – the guy who famously referred to Goldman Sachs as “a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money” – has an interesting expose of how the wives of two Morgan Stanley hot shots, though they had no previous financial experience, set up their own investing initiative and got $220 million in bailout funds. [More]

Citi Beats Bank Of America At One Thing: Getting Bailout Money

Citi Beats Bank Of America At One Thing: Getting Bailout Money

The Congressional Oversight Panel overseeing the TARP program has finally made public the data on exactly how much each of the various bailed-out banks received from the combined coffers of TARP, FDIC and the Federal Reserve. The winner: Citigroup’s $476.2 billion. [More]

U.S. Investigating Morgan Stanley Subsidiary For Unlawfully Foreclosing On Military Families

U.S. Investigating Morgan Stanley Subsidiary For Unlawfully Foreclosing On Military Families

A Morgan Stanley unit is under investigation by the Justice Department for foreclosing on nearly two dozen military families without a court hearing, a violation of Federal law meant to protect active duty service members. [More]

Bankers Back To Congratulating Themselves, Bonuses Up 17%

Bankers Back To Congratulating Themselves, Bonuses Up 17%

In these tough times, it’s easy to forget about the struggling bankers out there as you dodge their SUVs on your walk to the unemployment office. So it’s a good thing they have someone looking out for their financial interests — themselves. [More]

NY AG: Banks Paid Bonuses That Were Substantially Greater Than The Banks' Net Income

NY AG: Banks Paid Bonuses That Were Substantially Greater Than The Banks' Net Income

New York Attorney General Andrew Cuomo’s report on the bonus structures of the banking industry is out and — oh my— it’s damning. The AG says that 3 banks, Goldman Sachs, Morgan Stanley, and JP. Morgan Chase, paid out bonuses that ” were substantially greater than the banks’ net income.”

JPMorgan Chase Wants To Repay Bailout Money

JPMorgan Chase Wants To Repay Bailout Money

JPMorgan Chase, Morgan Stanley and Goldman Sachs are seeking permission to repay government bailout funds, says Reuters.

It's "The End Of Wall Street As We Have Known It"

It's "The End Of Wall Street As We Have Known It"

Goldman Sachs and Morgan Stanley will no longer be investment banks, says the New York Times. Instead, they will “transform themselves into bank holding companies subject to far greater regulation.”

http://consumerist.com/2008/09/19/morgan-stanley-might-sell-a/

Morgan Stanley might sell a 49% share of itself to a Chinese government controlled fund, says Bloomberg. [Bloomberg]

Morgan Stanley Ponders Wachovia Merger

Morgan Stanley Ponders Wachovia Merger

The Morgan Stanley investment bank is considering merging with the Wachovia commercial bank. The point is for the investment bank to have lots of capital on hand in the form of consumers’ deposits. This would return the two back to their structure during the Great Depression, when the two split. Uh, oh, there’s the D word, and we’re not even officially allowed to say the R word yet! Let’s just say Wall Street is getting completely rewritten this week, and while it’s way too early to tell what this means to the average consumer, there will be repercussions. Blood, too, probably.