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Wall Street News

Buffett Debunks Leverage, BofA as Financial Services Leader, Morgan Stanley and Uber, Lyft IPOs … And Other Headlines and Headliners

April 9, 2019

Compiled by Howard Haykin




  • NJ Investment Advisor Who Got 8-Year Sentence for Defrauding Clients Gets Barred [SEC]
  • Ex-LPL Broker Suspended for Selling “Life-Settlement” Insurance Investment [AdvisorHub]
  • NY State Probing Berkshire Hathaway-Owned Insurance Firm [NYPost]
  • Defendants to Pay >$2.7Mn in Connection with Commodity Pool Fraud [CFTC]
  • Radio Talk Show Host Gest 42 Months in Parallel Criminal Case Involving Ticket Resale Investment Scheme [SEC]





  • Bank of America Reborn as a Financial-Services Leader [InvestorPlace]

►     Bank of America Raising Minimum Wage for Employees to $20 An Hour [CNBC]

►     Bank of America Ramps Up Branch Modernization [Reuters]

  • Wells Fargo Deals Retirement Unit to Principal Financial for $1.2Bn [Reuters]
  • Nomura CRO, Senior Traders Exit, as Firm's Overhaul Will Lead to 150 Job Cuts [Bloomberg]
  • Morgan Stanley Wins Stabilization Role for Uber IPO [Bloomberg]

►     Lyft Accuses Morgan Stanley of Supporting Short-Selling [CNBC]

  • Deutsche Bank Open to U.S. Revamp in Merger Talks [Reuters]

►     Regulators Demand Deutsche, Commerzbank Outline Layoff Plans [EuroNews]

  • Rob Sweeney, Goldman Sachs' Investment Bank Consumer, Retail Group Head, to Step Down [Reuters]
  • Wells Fargo Should Look Beyond Wall Street for Next CEO - Warren Buffett [TheStreet]
  • Here’s How Citadel, Point72 Fared Against Multi-Strategy Peers [Bloomberg]
  • JPMorgan’s Wealth Target: 6,500 Advisors by Year-End [AdvisorHub]
  • Dimon Weighed Presidential Run for Much of 2018 - Report [Bloomberg]
  • Tradeweb Markets Inc. Jumps in Debut After 2019's Second-Biggest U.S. IPO [Bloomberg]




  • Buffett: Only Way Smart People Can Get Clobbered is with Leverage [GuruFocus]
  • Major Study Debunks Myth that Moderate Drinking Can Be Healthy [Reuters]
  • New SEC Campaign Educates Investors on Where and How to Get Answers [SEC]
  • Fed Proposes Rules to Lower Liquidity Requirement for Some Foreign Banks [MarketWatch]
  • Bank CEOs Should Prepare for Bashing from Congress, Analysts Say [Bloomberg]
  • Morgan Stanley: Wall Street Wrong - There Will Be an Earnings Recession This Year [Bloomberg]
  • FINRA Encourages Member Firms and Other to Join its Committee and Boards [FINRA]
  • Token Sales Have Some Rules Now - Matt Levine [Bloomberg]
  • Bank Earnings Preview: The Fed’s Moves Squeezing Profits Once Again [MarketWatch]
  • A Jobs Warning for All of Europe’s Bankers [Bloomberg]
  • U.S. Bank Executives Say Wall Street Has Reformed, Though Crisis Scars Linger [Reuters]