Last week JPMorgan Chase & Co. (NYSE:JPM) published a report explaining why it reiterated its Overweight rating on Alibaba Group Holding Ltd (NYSE:BABA) stock. JPMorgan also referred to the Global MT Conference held by Alibaba, after reporting healthy Singles’ Day sales. Alibaba’s Chief Strategy Officer Dr. Ming Zeng spoke about the company’s past success and future prospects at the conference.
Katie Couric, Jerry Seinfeld and Sir Howard Stringer at the dais, a Pierre Hotel ballroom of eight-tops stuffed with media moguls and tech glitterati, yet Mark Zuckerberg was sitting to my left, at the table nearest the exit, furthest from the dais.
In February, five of the nation's largest banks agreed on a $25 billion settlement over widespread, systemic mortgage fraud and related issues.
The $25 Billion Deal, announced with huge fanfare, was supposed to help up to a million struggling homeowners, primarily via debt forgiveness.
Let's flash forward a few months to see how debt forgiveness is working out in practice.