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GE’s Bid To Become Combined Google-Amazon-Industrial Giant Was Very Expensive And Equally Unsuccessful

Back in 2014, Jeff Immelt had an idea: He would cap what would by then be a nearly two-decade run at General Electric’s helm by transforming the 120-year-old industrial conglomerate into a cutting-edge software shop. The Mill River Valley would rival Silicon Valley when it came to big-data innovation. Sure, GE didn’t know the first […]

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Man: Sexy But Stupid P.E. Exec. Was Also A Shrewish Fraud, Although That Last Bit’s Probably Not True

Asset managers owned by minorities and/or women run just over 1% of that industry’s $71 trillion hoard. A trial in London is helpfully illustrating why. Amanda Staveley, who runs one such firm, private equity shop PCP Capital, is suing Barclays for allegedly screwing both her firm and her client, an Abu Dhabi sovereign wealth fund, […]

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Ex-Bridgewater CEO Disputes Objective Bridgewater Criteria That Pay Women Less

Eileen Murray has moved on from Bridgewater Associates, to the less–Principled pastures of FINRA and HSBC. Well, almost moved on. Bridgewater Associates and former co-Chief Executive Officer Eileen Murray are still negotiating an exit package three months after she left the world’s biggest hedge fund — a fight that has dragged on because Bridgewater’s offer […]

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Sinking Bank Throws Life Preserver To Drowning Fraudulent Payments Company

It’s hard to imagine that there could be a German company in worse shape than Deutsche Bank, but there’s a lot about payments company Wirecard that is hard to imagine. There’s the missing and quite probably imaginary $2 billion, the CEO under arrest, the other arrests, the missing COO (whose entry into the Philippines may […]

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Have FINRA’s People, Members Earned A Right To Have An Opinion?

FINRA isn’t exactly known as an exemplar of radical transparency. That all may be about to change. The FINRA Board of Governors has unanimously elected Eileen Murray, former Co-CEO of Bridgewater Associates, LP, as Chairperson effective at FINRA’s Annual Meeting in August…. “I am honored by the opportunity to lead the FINRA Board at such […]

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Supreme Court Orders Joe Biden To Fire CFPB Director On Jan. 20

Yesterday we discussed the growing urgency, in light of current polling, among President Trump’s appointed regulators to make sure their successors can do as little regulating as possible. This is especially true of the Consumer Financial Protection Bureau after Chief Justice John Roberts ruled that a president can fire the agency’s director whenever he wants. […]

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Banks Pass Coronavirus Section Of Stress Test, We Think

The white dudes over at the Federal Reserve have finished crunching the numbers from this year’s stress tests they insisted on administering, and they’ve got good news and bad news. The Federal Reserve on Thursday said a prolonged economic downturn could saddle the nation’s biggest banks with up to $700 billion in losses on soured […]