April 17 - Breakingviews editors explain why Morgan Stanley's CEO can breathe easier and discuss first-quarter highlights now that Goldman and other banking peers have reported.
Goldman Sachs and Morgan Stanley has reported first quarter earnings today it kind of finish is the -- Wall Street. As the first let's double accidentally gets the -- probably the ultimate career. Absolutely I think if you look at any of the C is -- -- the American such evening to -- Credit Suisse in Europe for yesterday. James Coleman CNN must feel to mice relieved of rules of the Brady. Good showing across most of -- the approach him. Well. I think against that put the Cooley was saying that we have tumbled 50% of earnings coming from a new tee time is his wealth management and asset management said based on that we -- -- could -- dipped into -- street console would -- got to let the Fed board -- -- Seattle like everyone else pretty much at -- -- -- from navy -- no one's earning. More than book value -- -- now -- on an annualized dividend -- in that I mean that magic moment. You're going to obsess so our defense we're still everything -- to explode so hopefully he'll get it having to -- the -- with -- as we have of the service W as -- see the occasional. -- -- Funny that she gangs do locals as an -- and then it goes on in the next of this on the everything's cut chugging along nicely they have huge -- capital the -- -- shelves yet which means a return stay alive. If each business each business itself is learning about the cost cap in fact the team. Wealth management asset management businesses that buy things between fox and whatsoever -- -- talked to a lot of his arms -- cares what the broader view is in terms of trading your -- If ever there all the players sort of cyclical thing or regularly as a separate training has kind of been down across the street access to forget that you don't you don't -- once more this time is up -- Pretty helps that it Wall Street has. Has -- -- in the of the wondrous cold weather that's how missile freezing the posthumous golden moments on equipment and the colleges have gone up several. But adding that -- -- if you -- its fancy speech seeming need some are saying this just -- others saying that we getting things that he was saying. We're looking at. Pretty bad -- for the next -- and reversible and at a -- so. Quote so then yes still a fair bit of money they get into Boston and Cheney Donna talks about and central clearing being an issue. But -- some -- especially noticeable capital constrained. -- like more cynical sense it's a great thing because he reached out to work that we capital -- We also have this kind of wondrous thing we have as the first on the Goldman Morgan Stanley report on the same day his boy also on the same don't have Blackstone. Yes which offers sort of like the also contrast in terms of basis had a huge quarter. You know an extra fifty billion dollars of assets under management without including acquisitions. Oh record amount of money they're handing back to it to investors and that if anything provides the ultimate contrast to what's happening in absolutely big -- of us. Thank you it's a -- like going back seven -- is not what -- looking -- banking endings in the in what was now what is now the bubble. And think -- did so well but that. So much stuff -- shifted from the bank's CD sign a static and the regular citizens of squash the banks to some extent yet what exactly. -- regulate less regulation that regulated the less regulated businesses like placed into doing great notes there. Okay we'll leave -- that. We'll have rule breaking news in next week.