Enough About Greece, Here's The Other Shoe About To Drop – and Other News Told in Charts
Greeks went to the polls Sunday and essentially voted to stay in the Eurozone, for now. The euphoria didn't last long, especially in Spain:
The Associated Press reports that any election-related relief is likely to be fleeting. That is was.
Big Banks Feasting on Program To Help Homeowners
It turns out a government plan to help struggling homeowners is helping big banks even more. The Home Affordable Refinance Program will save borrowers up to $5 billion, reports the Wall Street Journal. But it will bring mortgage servicers like Wells Fargo (WFC) and JP Morgan Chase (JPM) will up to $12 billion this year in revenues. According to the story, banks have been charging “HARP” borrowers up to 0.53% more than the market rate on refinanced mortgages. Let's debate who has had it worse.
Facebook’s Banker Needs Driving Lessons
Morgan Stanley’s (MS) banker who handled Facebook’s (FB) disastrous IPO told a Facebook executive he wanted to be the “single driver” of the offering. According to the Wall Street Journal, his pitch book to tech companies like Linkedin (LNKD) and Zynga (ZNGA) showed a black sports car to illustrate his point that they needed to put just one driver, Morgan Stanley, behind the wheel. Too bad it now looks like he skipped driver’s ed:
Filed under: Company News