David Hendler
David Hendler
banking business card credit game generate name trying
The whole name of the game in banking right now is trying to generate high-interest-yielding assets. That's what the credit card business is. Everyone has these deposits right now. They have to put them to work.
hurting
You can only do so much in asset-backed before you're hurting your profitability.
brazil default feeling next problem similar year
Our feeling is that Brazil will default in the next year and you could have a similar problem to what you had in Argentina.
emphasis expanding leverage near operating positive quest seems
It seems that the emphasis on expanding distribution outweighs the quest for positive operating leverage in the near term.
morgan pickup problem saw seems stanley
Merrill saw the most pickup in traditional retail. Morgan Stanley still seems like the problem child.
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The end game is to sell out but they may want to do it at a higher valuation. The clock is sort of ticking on them but the company isn't feeling pressured to do something.
curve flat hurting yield
The flat yield curve was really hurting them.