Bank stocks saw their worst day since 2020 today as SIVB stock announced news that left investors running towards the exits. SVB Financial announced today that they sold over $20B of assets for a $1.8B loss as they look to manage their balance sheet in the future. They also announced a stock offering of over $1.5B, but as investors digested this news, it was quickly realized … [Read more...]
The Splendid Maya Murals of Bonampak, Mexico, with Prof. Mary Miller
At the Yale Presidential Inauguration Symposia on October 11th 2013, Mary Miller, Dean of Yale College and Sterling Professor of History of Art at Yale University, presented a lecture entitled, "The Splendid Maya Murals of Bonampak, Mexico". Painted in the last decade of the eighth century in the tropical rainforest of Chiapas, Mexico, and brought to modern attention in 1946, … [Read more...]
How Bank of America Came to Own Merrill Lynch
Analysts have begun to question whether Bank of America can continue to exist as it’s currently constructed. Among other issues, its 2008 acquisition of Merrill Lynch has saddled Bank of America with higher regulatory and compliance burdens compared to smaller and simpler competitors such as Wells Fargo. This podcast was recorded on May 9, 2016. Imagine owning Amazon.com (up … [Read more...]
What Happened To Merrill Lynch? An Old Wall Street Joke
Merrill Lynch has been around since 1914. Merrill Lynch was the brokerage firm you thought of when you imagined a Wall Street stockbroker. During the Financial Crisis in 2008 Merrill Lynch lost $51.8 billion on mortgage-backed securities as part of the subprime mortgage crisis. Because of this Merrill Lynch was sold to Bank Of America. There is an old Wall Street joke about … [Read more...]