The Baseball Game That Won't End

Here Is The City has put together this chart of credit losses per wholesale-banking employee, and it's quite eye-opening, even if you discount the Mizuho outlier: Wachiovia, UBS, and Citi have all managed to rack up more than $1 million of losses per employee. Merrill Lynch's losses look positively modest in comparison, at a mere $659,000 per employee. And Morgan Stanley, which has taken $12.6 billion in losses, does reasonably well on this metric, since that works out at "only" $331,000 for each of its 38,000 wholesale-banking employees. (Via Ritholtz) ... Read more

Just as Wall Street starts to have hope, Meredith Whitney strikes again. Read more