Lunchtime Links: Deferred bonuses disappear at Morgan Stanley and Goldman
With shares at Morgan Stanley and Goldman Sachs falling a respective 40% and 22% yesterday, deferred compensation at both banks is going up in smoke (The Epicurean Dealmaker). Goldman's shares closed at $114.5 yesterday and the weighted average strike price was $106.63 at the end of 2007, so most of its options are still above water - for the moment.
"I'm assuming that Goldman Sachs and Morgan Stanley are lining up dancing partners." (CNBC)
Should Goldman and MS merge with each other? (Clusterstock)
Mr Mack entertained the idea of a lockup with Merrill Lynch last weekend. (Wall Street Journal)
Morgan Stanley and Wachovia in preliminary merger talks. (Financial Times)
"If these two do end up in a shotgun wedding, I predict divorce within a couple of years." (Felix Salmon)
"We have to be adaptable. If the market fully decides that you need deposits, then it's decided."
"There is no rational basis for the movements in our stock or credit default spreads." (Wall Street Journal)
Pump, pump, pump in the dollars. (Financial Times)
Market up as a result. (Clusterstock)
BARC's filleting of Lehman is possibly the only shotgun bank takeover/merger/acquisition which really has the potential to be seen as a great thing in a year or two's time. (FT Alphaville)
Someone's busy: top bankers working on Lloyds HBOS merger. (Financial News)
Art will numb the pain. (Telegraph)
