Bank Of America, Morgan Stanley | featured news

The ratings firm Fitch downgraded a cluster of the world's largest banks Thursday, pointing to trading challenges facing international markets. The banks included Bank of America, Morgan Stanley and Goldman Sachs, as well as Europe's Barclays, Societe Generale and BNP Paribas. Germany's Deutsche Bank and Switerzland's Credit Suisse were also downgraded.

Jim Cramer got really angry on CNBC yesterday. The LinkedIn (LNKD) IPO got him in a tizzy. Why? Because he said that the underwriters for the offering (Morgan Stanley (MS), B of A Merrill (BAC), and JP Morgan Chase (JPM)) decided to play the old “dot com” games of only releasing an artificially small amount of shares on the market, in hopes of creating a feeding frenzy.

Chief executives of some banks that received federal money, including Bank of America Corp, Morgan Stanley and Regions Financial Corp, used company jets for their personal use, the Wall Street Journal reported on its website.