In the wake of the financial crisis, regulatory agencies were mandated power to better inspect and punish big banks. One of the ways Wall Street has tried to outmaneuver these agencies is by hiring away the same regulatory offices’ top staff.
Brad Garlinghouse, the former Yahoo exec famous for his "Peanut Butter Manifesto" that said Yahoo was spreading itself too thin, is generally a Marissa Mayer fan. But he's not convinced that buying Tumblr for $1.1 billion was the best move the Yahoo CEO could have made.
Mergers and acquisitions will continue to pick up their pace over the next 12 months. In the recently released EY Global Capital Confidence Barometer survey, more than three-quarters (83%) of senior-level executives surveyed said they plan to actively pursue M&A deals over the next 12 months, the highest level on the barometer in six years.
It took less than a year for Meredith Whitney’s hedge fund to begin unravelling.
Her American Revival Fund started investing in heartland stocks in November 2013, after the Wall Street star predicted on TV and in a book that the centre of the U.S. would boom. Even as parts of the region did well, she made wrong-way bets on companies including a retailer that sells mattresses and stereos on credit in Texas. In October, she was headed for the year’s eighth monthly drop when her main backer, a fund tied to billionaire Michael Platt, asked for its money back. Her firm refused.