Introduction to Investment Banks The roots of investment banks are varied. Some are bankers or merchants who started guaranteeing other merchants’ bills‚ others are outgrown brokerages‚ but most are products of the Glass-Steagall Act. Originally‚ the term "investment bank" comes from the United States of America‚ while some other variations include merchant bank’ in the United Kingdom and securities house’ in Japan. With the globalization of US investment banking‚ the term has become a generic
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Wells Fargo Introduction: Over 160 years ago‚ soon after California Gold Rush (1848-1855) at Sutter ’s Mill in Coloma‚ California‚ Henry Wells and William G. Fargo‚on March 18‚ 1852‚ decided to organized Wells‚ Fargo & Company‚ in San Francisco and Sacramento‚ a joint-stock association with an initial capitalization of $300‚000‚ to provide express and banking services to California including the operation of stagecoach lines‚ the transportation and safekeeping of gold and the delivery of the U
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The Great Crash of 1929 is a book written by John Kenneth Galbraith‚ in which he describes key factors that eventually led to the Great Depression of the early 20th century. Looking at the issues that Galbraith stressed‚ many resemble those that were present in the recent recession of 2008. John Galbraith first states that one of the main causes of the Crash of 1929 was the significant difference of the income distribution in the population. High-income families‚ which accounted for 5% of the
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Commercial Bank Industry Analysis JPMorgan Chase & Co. (JPMorgan Chase) Citigroup‚ Inc. Embassy Bancorp Farmers Capital Bank Corporation INTRODUCTION JPMorgan Chase & Co. (JPMorgan Chase)‚ Citigroup‚ Inc.‚ Embassy Bancorp‚ Farmers Capital Bank Corporation is financial holding companies‚ providing various financial services worldwide. They provide a range of financial products and services to meet the depository and credit needs of individual consumers‚ small and medium sized businesses
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Mobile Banking On a cold morning in January 2010‚ Jen McDonald‚ head of Bank of America Corporation’s (B of A) Digital Marketing group‚ walked briskly to the conference room to discuss the future of the bank’s mobile strategy with Douglas Brown‚ senior vice president‚ Mobile Product Development‚ and David Carrel‚ senior vice president‚ Strategy and Analysis at Starcom‚ the company which the bank worked with for internet. Bof A launched mobile banking in May 2007‚ which allowed customers to
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their employees‚ whereas the merged plans can close those websites to cut the costs and avoid duplication. A survey on the deal between Anthem and Cigna was conducted by the two banks‚ JP Morgan Securities and Leerink Partners and the result of the survey was a negative score. Around 30% of the employers of JP Morgan did not agree with the deal and believed that it might increase the fees of ASO. The main concern of all the employers is that the quality and value of the Medicare should not
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Case Study – CDO CREATIVE BALANCE SHEET RISK MANAGEMENT: VALUE CREATION? 1) What is a CDO? Who buys CDOs? CDOs are a type of asset backed security composed of bonds issued by special purpose vehicles (a corporate entity that holds the assets as collateral‚ packages them and sells the resulting notes to investors). Normally‚ the bonds issued are divided into tranches with different risk characteristics and debt rating. Each tranche carries a different rating which determines the interest and
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Whistleblowing and Sarbanes-Oxley Daniel A. Sievers Professor: Joe McGirt Strayer University LEG 500 10/20/2014 Abstract The purpose of this paper is to discuss the essential characteristics of whistleblowers and how organizations take action against them. Whistleblower is a person who exposes unethical behavior or criminal activity occurring in an organization. Companies deal with whistleblowing in many different ways‚ and it effects the company and the employee in significant ways. Companies
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The next day at school Morgan walking to the café to grab a quick grub notices chase and says bluntly “you’re sexy” and smiles at him chase looks at Morgan and just smiles with no response because in his mind he doesn’t like females that come off to him like that. Later that day at school Morgan and eboni was walking together and they see chase‚ eboni immediately starts smiling and Morgan does also. Chase approaches them and says “hi eboni how are you today?” Morgan looks over at them and has
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many toxic assets and could not cover its liabilities. The United States implement their own economy in the history of the largest and deepest government intervention. In May of 2008‚ the Federal Reserve did sale support to the fail Bear Stern to JP Morgan. Something similar happened to Lehman Brothers in September 2008‚ Lehman was one of the American five original investment banks. The author discusses that because of bad investment in the subprime mortgage market‚ insolvency‚ and shattered investor
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