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Apr 11, 2024
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but if you think about what the impact of this headline is, first of all, aml, money laundering rules and what not are no joke in the asset management business and morgan stanley is not treating them as such. what i'm saying is, this is something that involved multiple regulatory bodies within the u.s. government. including the treasury. so, there are dynamics here that i think will take some time. whether this impacts the stock, i mean, i have to say, the stock's been kind of dead money for two years and it is amazing how we do a morgan stanley goldman sachs comparison. and for the last, i would say, really since that peak of the morgan stanley valuation in early '22, it's underperformed goldman sachs by 25%. >> i was going to touch on that. it has underperformed the entire group. and if you go back to january 16th, they paid hundreds of millions of dollars in regulatory fees. is this a pattern? is it the same thing? a derivative of the same thing? i don't know what the difference is, but for me, i would wait -- why would you want to rush in here? why would you want to buy a stock th
but if you think about what the impact of this headline is, first of all, aml, money laundering rules and what not are no joke in the asset management business and morgan stanley is not treating them as such. what i'm saying is, this is something that involved multiple regulatory bodies within the u.s. government. including the treasury. so, there are dynamics here that i think will take some time. whether this impacts the stock, i mean, i have to say, the stock's been kind of dead money for...
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Apr 18, 2024
04/24
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rge that troubling story ahead. amls pick an order print everything you need slap the label on ito the box and it's ready to go our cost for shipping, were cut in half just like that go to shipstation/tv and get 2 months free everybody wants super straight, super white teeth. they want that hollywood white smile. new sensodyne clinical white provides 2 shades whiter teeth and 24/7 sensitivity protection. i think it's a great product. it's going to help a lot of patients. “look at all those snacks, you must be a king!” “i did just pay 60% less for my ticket with the gametime app.” “it's the best place to get last-minute deals on tickets.” “i guess i'm just a better fan than you.“ "(crowd cheering) i've got to get the gametime app.” “download the gametime app to get great deals on last-minute tickets.” >>> remember ronald reagan asking about jimmy carter. >> reagan used to ask. >> are you better off. >> are you better off. >> are you better off. >> better off. >> better off. >> better off. >> better off. >> than you were four years ago? >> we are committed to keep a
rge that troubling story ahead. amls pick an order print everything you need slap the label on ito the box and it's ready to go our cost for shipping, were cut in half just like that go to shipstation/tv and get 2 months free everybody wants super straight, super white teeth. they want that hollywood white smile. new sensodyne clinical white provides 2 shades whiter teeth and 24/7 sensitivity protection. i think it's a great product. it's going to help a lot of patients. “look at all those...
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Apr 12, 2024
04/24
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aml is key because this is terrorism financing. regulators take it seriously, penalties can be big, remediation is long, so that's why you're seeing this stock reaction. such a thorny issue, not wrapped up superfast or something that the new ceo wants in his first few months on the job. kriti: they're trying to really grow and taking lot of momentum. she will be back in the next couple of hours. thank you for the crucial context. we go back to the macro. this is bloomberg. ♪ ♪ >> it is arrogant to say the market is wrong because the market is the total iq of all people in the world. i do think inflation will be tough to get down. more near shoring, we have seen some pressure on raw materials, wage increases are high so i suspect that we will not see the rate cuts many expect. >> that re-prices everything. >> markets have been resilient on the back of changed expectations, a little surprising. >> is that because they believe it is a cut? >> probably not. >> u.s. exceptionalism is what we are seeing. one of we gotten wrong? >> u.
aml is key because this is terrorism financing. regulators take it seriously, penalties can be big, remediation is long, so that's why you're seeing this stock reaction. such a thorny issue, not wrapped up superfast or something that the new ceo wants in his first few months on the job. kriti: they're trying to really grow and taking lot of momentum. she will be back in the next couple of hours. thank you for the crucial context. we go back to the macro. this is bloomberg. ♪ ♪ >> it...
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Apr 17, 2024
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and aml putting a dip in the
and aml putting a dip in the
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Apr 17, 2024
04/24
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and aml putting a dip in the holdings and nvidia sliding in sympathy as you see. utilies and staples are higher as investors look for defensiv positioning. and we have the backup in yields and the expectation of rate cuts and what it means for markets. let's ask josh brown with me here at the post good to see you. we have been asking for the last several days whether the playbook for investors needs t change as expectations for rat cuts are firmly reset. how would you address that wit the calls that you may get >> we are washing out some o the excess enthusiasm that w came close with the month of april. we talked about late februar and the broadening of the rally. it was broadening. it found its way into small caps which is a group that can't ge arrested even those stocks are going up now we have a little bit of washout of the enthusiasm. a lot of big charts are still in tact what has really changed on the internals is the percentage of stocks that are in their own individual bull markets. 35% of s & p 500 components ar above their short-term movin average, 50 day
and aml putting a dip in the holdings and nvidia sliding in sympathy as you see. utilies and staples are higher as investors look for defensiv positioning. and we have the backup in yields and the expectation of rate cuts and what it means for markets. let's ask josh brown with me here at the post good to see you. we have been asking for the last several days whether the playbook for investors needs t change as expectations for rat cuts are firmly reset. how would you address that wit the calls...
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Apr 15, 2024
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i think aml is no joke in terms of regulatories have to stay focused, and will, and will do something. i just think --morgan stanley was really trading sideways for two years after being the dominant outperformer in that group, and i think that's the bigger story. >>> coming up, tesla cutting jobs slashing 10% of its work force, as shares continue to struggle but the presumed cost cuts aren't helping the stock this time why investors are responding a bit differently. that's next. >>> plus, a potential data deal. salesforce dropping on reports it is looking to scoop up another software company what the acquisition could mean for crm. more ahead "fast money" is back in two. >>> missed a moment of "fast?" catch us any time on the go. follow the "fast money" podcast. we're back right after this. (woman 2 vo) i have a great boss... it's me. (man 1 vo) i have people, people i can count on. (man 2 vo) i have time to give (grandma vo) and a million stories to share. (grandpa vo) if that's not rich, i don't know what is. (vo) the key to being rich is knowing what counts. >> university of maryl
i think aml is no joke in terms of regulatories have to stay focused, and will, and will do something. i just think --morgan stanley was really trading sideways for two years after being the dominant outperformer in that group, and i think that's the bigger story. >>> coming up, tesla cutting jobs slashing 10% of its work force, as shares continue to struggle but the presumed cost cuts aren't helping the stock this time why investors are responding a bit differently. that's next....
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Apr 26, 2024
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the bank secrecy act requires banks to have a whole unit, an antimoney laundering or aml unit, and to check all of this stuff. you can't just go into banks and open accounts willy nilly, and banks have to have oversight. they're required to by federal law, and they're required to film out forms and check where money is coming from or where it's going. for that reason, i think this is a witness that's going to do just a little more than maybe set up e-mails. he's also going to talk about, and i think one of the big questions the jury has this witness may answer is how is michael cohen able to get this much money in order to pay off an adult film actress? how did he disguise it, i think the jury needs to be educated on that. i think this witness may give this witness may give them that. >> he's also talking about the bank secrecy act. >> the bank secrecy act is a federal law that regulates how banks do business, what they know about their customers, what they know about why the customers are using the banks. here you have this story, a conspiracy really, where michael cohen is using a h
the bank secrecy act requires banks to have a whole unit, an antimoney laundering or aml unit, and to check all of this stuff. you can't just go into banks and open accounts willy nilly, and banks have to have oversight. they're required to by federal law, and they're required to film out forms and check where money is coming from or where it's going. for that reason, i think this is a witness that's going to do just a little more than maybe set up e-mails. he's also going to talk about, and i...
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Apr 9, 2024
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i recommend prone aml repair with new pronominal repair mouthwash, you can enhance that repair beyond brushing. they work great together doug hello, ghostbusters >> it's duck >> of doggedly. we help people customize and save hundreds on car insurance with mutual. >> anyway we had a bit of a situation >> sure. i can only pay for what you need >> ghostbusters, frozen empire in theaters now you don't know i've got to. go >> thanks. john >> size >> dream about it for years. we were made to help you book as in minutes >> when you're the leader, that's the cleanup and restoration how do you make like it never even happened? >> happened >> brand >> whatever for comes your way. >> there's a pro for that serve pro, like it never even happened by a 100% free with triple tax-free addition, roughly 37% of taxpayers qualify form ten, 40 and limited credits only see how it turbotax.com >> that's me >> i saw who it surely article authored this in psoriasis. i was on a journey for a really long time to find some relief placenta ics works for me. >> consent ticks helps real people get real relief from
i recommend prone aml repair with new pronominal repair mouthwash, you can enhance that repair beyond brushing. they work great together doug hello, ghostbusters >> it's duck >> of doggedly. we help people customize and save hundreds on car insurance with mutual. >> anyway we had a bit of a situation >> sure. i can only pay for what you need >> ghostbusters, frozen empire in theaters now you don't know i've got to. go >> thanks. john >> size >>...
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Apr 15, 2024
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we use the regulated financial system to deal with aml and kyc. to the extent we've held bitcoin and stablecoin outside of it makes it more difficult. >> jay clayton, i want to thank you. mike santoli, leslie, thank you for hanging out. what a big show. lot going on. >>> make sure you join us tomorrow. "squawk on the street" begins right now. ♪ >>> good monday morning, welcome to "squawk on the street," i'm carl quintanilla with david faber, sara eisen, at post nine of the new york stock exchange. cramer has the morning off. futures solid as global markets look for de-escalation in the middle east, but we're close to session highs in the morning as march retail sales crush estimates. strongest control group in over a year. road map begins with these geopolitical risks for stocks, futures rallying on the hopes that conflict will not escalate further. >>> plus, tesla cuts, set to lay off more than 10% of its staff globally, ceo elon musk saying the company is looking for cost reductions and to increase productivity. >>> financials in focus again.
we use the regulated financial system to deal with aml and kyc. to the extent we've held bitcoin and stablecoin outside of it makes it more difficult. >> jay clayton, i want to thank you. mike santoli, leslie, thank you for hanging out. what a big show. lot going on. >>> make sure you join us tomorrow. "squawk on the street" begins right now. ♪ >>> good monday morning, welcome to "squawk on the street," i'm carl quintanilla with david faber, sara...
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Apr 23, 2024
04/24
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. >> oh, so, nigel, i've heard you talk in recent days about concerns with aml anti money laundering and kyc. know your customer legislation, which apparently i didn't know this. it's all european legislation . it's all european legislation. >> so it started at about nine in about 1990 when i was working in about 1990 when i was working in the city in the commodities markets. a whole raft of new rules came in and we sat down with a compliance officer. i said, where's this come from ? said, where's this come from? oh, well, this is what the regulator no, no no no. where's this come from. oh it's come from the european community. really. how interesting . it was really. how interesting. it was one of the beginnings of my eurosceptic journey . and we've eurosceptic journey. and we've now had masses of this stuff. the problem is this. the banks are so scared. if they don't check what are considered to be unusual transactions, they could face massive fines. it's easier for the banks to simply close accounts than spend the time on due diligence. so there's a massive problem here. it's bad
. >> oh, so, nigel, i've heard you talk in recent days about concerns with aml anti money laundering and kyc. know your customer legislation, which apparently i didn't know this. it's all european legislation . it's all european legislation. >> so it started at about nine in about 1990 when i was working in about 1990 when i was working in the city in the commodities markets. a whole raft of new rules came in and we sat down with a compliance officer. i said, where's this come from...
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Apr 12, 2024
04/24
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aml issues are very serious for all institutions. you have to imagine morgan stanley is working diligently with the regulators to solve this problem. it is important this has happened but i think they will resolve the problem and for time they will fix this issue. lisa: jp morgan on deck. people used to held this is the beginning of earnings season and kickoff to the tone we used to expect from other companies. it has not served as that but has shown to be a litmus test for bank earnings. what are you looking for in this report? gerard: the two most important parts of the reports we are expected today from jp morgan and its peers is manages income growth. this is driven by the interest rate environment and interest-rate environment is different than january when they gave their guidance on $90 billion of net interest income in 2024. they were expecting six federal reserve rate cuts. as you have pointed out, now is the expedition of zero to two. our anticipation is able of biblical guidance on that income because they were expecting t
aml issues are very serious for all institutions. you have to imagine morgan stanley is working diligently with the regulators to solve this problem. it is important this has happened but i think they will resolve the problem and for time they will fix this issue. lisa: jp morgan on deck. people used to held this is the beginning of earnings season and kickoff to the tone we used to expect from other companies. it has not served as that but has shown to be a litmus test for bank earnings. what...
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Apr 15, 2024
04/24
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we use the regulated financial system to deal with aml and kyc. to the extent we've held bitcoin and stablecoin outside of it makes it more difficult. >> jay clayton, i want to thank you. mike santoli, leslie, thank you for hanging out. what a big show. lot going on. >>> make sure you join us tomorrow. "squawk on the street" begins right now. ♪ >>> good monday morning, welcome to "squawk on the street," i'm carl quintanilla with david faber, sara eisen, at post nine of the new york stock exchange. cramer has the morning off. futures solid as global markets look for de-escalation in the middle east, but we're close to session highs in the morning as march retail sales crush estimates. strongest control group in over a year. road map begins with these geopolitical risks for stocks, futures rallying on the hopes that conflict will not escalate further. >>> plus, tesla cuts, se
we use the regulated financial system to deal with aml and kyc. to the extent we've held bitcoin and stablecoin outside of it makes it more difficult. >> jay clayton, i want to thank you. mike santoli, leslie, thank you for hanging out. what a big show. lot going on. >>> make sure you join us tomorrow. "squawk on the street" begins right now. ♪ >>> good monday morning, welcome to "squawk on the street," i'm carl quintanilla with david faber, sara...