Morgan Stanley's takeover of brokerage E*Trade Financial Corp reflects a m...
WASHINGTON - Morgan Stanley’s takeover of brokerage E*Trade Financial Corp reflects a more relaxed regulatory mood in Washington, but it is still a gamble in an election year that will see Democrats continue to shine a spotlight on Wall Street excesses, said analysts.
His confidence underscores a seismic shift in Washington, where a more industry-friendly tone from President Donald Trump’s regulators has helped unleash other bumper deals in the financial sector. The deal would have to get the green light from the Federal Reserve, and potentially other financial watchdogs. Progressive Democrats say mega-banks put the financial system and consumers at risk, and have called for big lenders to be broken up.
That freeze has thawed in recent years partly because Congress eased some post-crisis constraints in 2018, and partly because Trump-appointed Fed officials have sped up approvals and been more flexible on compliance hurdles. The central bank’s approval period fell from an average of 297 days in 2015 to 135 during the first half of 2019, its data shows.
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Morgan Stanley buying E-Trade for about $13 billionIn the all-stock deal announced Thursday, E-Trade shareholders will receive 1.0432 Morgan Stanley shares for each share they own.
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Here's why Morgan Stanley is spending $13 billion to buy E-TradeMorgan Stanley, the tony investment bank for rich Americans and corporations, is making a play for the masses.
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Morgan Stanley to buy E-Trade for $13 billion in latest deal for online brokerage industry“I can’t imagine two places that are less alike,” MadMoneyOnCNBC's JimCramer says about Morgan Stanley and E-Trade. “Robinhood’s making everybody do things that I never thought would happen.”
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