Comments on: With Buyout of Merrill, Bankruptcy for Lehman, Wall Street Plays "Let's Make a Deal"

By: Great Britain - The "Rust Belt" of Global Finance

Great Britain - The "Rust Belt" of Global Finance — Thu, 17 Dec 2009 15:49:01 +0000

[...] United States, so that London-based employees and creditors fared far worse than those in New York, is symptomatic of the “hollowing-out” process that is likely to continue for several years. Even the Russian mafia may find it prefers somewhere [...]

By: Inside Wall Street: Does a Potential New Wall Street Pandemic Fester Underneath Apparent BlackRock Conflicts?

Tue, 15 Dec 2009 14:12:18 +0000

[...] with its burgeoning mortgage portfolios – it is technically insolvent. Three months before Lehman Brothers went bankrupt, BlackRock aggressively loaded up clients with Lehman stock in the high $20s – not a good [...]

By: Inside Wall Street: Does a Potential New Wall Street Pandemic Fester Underneath Apparent BlackRock Conflicts?

Thu, 04 Jun 2009 18:07:17 +0000

[...] now, with its burgeoning mortgage portfolios – it is technically insolvent. Three months before Lehman Brothers went bankrupt, BlackRock aggressively loaded up clients with Lehman stock in the high $20s – not a good move. In [...]

By: Ban Credit Default Swaps? These Corporate Bankruptcies Show We Should

Ban Credit Default Swaps? These Corporate Bankruptcies Show We Should — Thu, 23 Apr 2009 14:19:47 +0000

[...] provided the best-leveraged and highest-volume method by which hedge funds could benefit from a Lehman default – the CDS markets had much bigger volume than the stock-options markets, and better leverage and [...]

By: Wracked by Problems, the U.S. Economy Keeps Digging Its Way Out

Wracked by Problems, the U.S. Economy Keeps Digging Its Way Out — Mon, 30 Mar 2009 18:11:53 +0000

[...] that the world’s) financial landscape had changed forever. Unbelievably, in one day, Merrill and Lehman virtually ceased to exist (“Bank of America is Bullish on America” just doesn’t have the same ring) and the [...]

By: Great Britain - The "Rust Belt" of Global Finance

Great Britain - The "Rust Belt" of Global Finance — Wed, 18 Mar 2009 19:43:19 +0000

[...] United States, so that London-based employees and creditors fared far worse than those in New York, is symptomatic of the “hollowing-out” process that is likely to continue for several yea…. Even the Russian mafia may find it prefers somewhere [...]

By: When it Comes to Naming Wall Street’s Worst Invention Ever, Credit Default Swaps Continue to Fill the Bill

Wed, 04 Mar 2009 10:01:04 +0000

[...] of shares was banned for several weeks after the Lehman bankruptcy, the reality is that neither short share sales nor share put options offer anything like the [...]

By: Jutia Group - Market Jitters & Political Critters

Jutia Group - Market Jitters & Political Critters — Thu, 18 Dec 2008 15:32:03 +0000

[...] having since been intermittently aroused by the failure of The Bear Stearns Cos., the bankruptcy of Lehman Brothers Holdings Inc. (OTC: LEHMQ), the nationalization of American International Group Inc.(AIG), and a few other minor [...]

By: Fraud and Greed of Trusted Rating Agencies Helped Spread the Credit Crisis

Fraud and Greed of Trusted Rating Agencies Helped Spread the Credit Crisis — Thu, 18 Dec 2008 09:30:16 +0000

By: Merrill Lynch’s Thain to Remain with Bank of America

Merrill Lynch’s Thain to Remain with Bank of America — Mon, 03 Nov 2008 22:52:08 +0000

[...] Thain will oversee a newly created Global Banking, Securities and Wealth Management unit after the merger with Bank of America he negotiated for Merrill Lynch just last month. [...]

By: Merrill Lynch’s Thain to Remain with Bank of America | Jutia Group

Merrill Lynch’s Thain to Remain with Bank of America | Jutia Group — Fri, 03 Oct 2008 15:38:49 +0000

[...] Thain will oversee a newly created Global Banking, Securities and Wealth Management unit after the merger with Bank of America he negotiated for Merrill Lynch just last month. [...]

By: Merrill Lynch Thain

Merrill Lynch Thain — Thu, 02 Oct 2008 22:49:15 +0000

[...] Thain will oversee a newly created Global Banking, Securities and Wealth Management unit after the merger with Bank of America he negotiated for Merrill Lynch just last month. [...]

By: H. Craig Bradley

H. Craig Bradley — Wed, 17 Sep 2008 00:19:28 +0000

Yes, indeed the financial landscape is changing. Realistically, I suspect these changes have been progressing along for some time before the current crisis.

One thing is for certain, there will be fewer investment bankers employed in New York from now on. That means fewer Christmas Bonuses and fewer domestic penthouses buyers.

The United States is no longer the top financial dog. Not only are manufacturing jobs being exported, but investment banking jobs in future years are moving offshore, as well. Asia (China, Singapore) and the Middle East (United Arab Emirates) are probably going to fulfill the investment banking role Wall Street once occupied. In a way this is predictable, as more and more dollars are exported to Asia and Middle East countries.