Wells Fargo's Subprime Smudge
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And don't miss Lionel Laurel on the need for bold decisions from Deutsche Bank's new leader: "That means taking the scalpel to a bank that's over-extended and over-staffed relative to its earnings power -- which, for three years running, has been nil. The U.S. cash equities business is one division ripe for the chop, according to Bloomberg News. The buying and selling of stocks, which has become a low-margin, high-technology business in recent decades, is unlikely to be an area where Deutsche can profitably compete against Wall Street. Why keep it in its current form?"
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