4 Financial Stock Stories to Kick Off September Trading

Morgan Stanley (NYSE:MS): Current price $26.21

Morgan Stanley just cannot get past legal disputes connected with its sale of risky residential mortgage backed securities as the National Credit Union Administration has now brought a suit against it to recover losses on $566 million RMBS that were sold to two corporate credit unions that are now defunct. The securities were sold to the United States Central and Western Corporate federal credit unions, and later, these credit unions became insolvent and were placed under NCUA conservatorship, to be liquidated due to the losses from these risky RMBS.

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Deutsche Bank AG (NYSE:DB): Current price $43.87

On Tuesday, Deutsche Asset & Wealth Management announced that Matt Montana has come to the firm as a managing director and head of equity trading, Americas. Montana is based in New York and reports to Head of Trading, Americas, Joshua Friedberg.

In this new position, Montana is responsible for overseeing all of DeAWM’s equity trading business in the Americas. He joins DeAWM from Bank of America Merrill Lynch, where he served 25 years in the New York and  London offices in senior trading roles, most lately as a Managing Director in charge of Non-Dollar Sales and Trading.

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The Blackstone Group LP (NYSE:BX): Current price $21.98

Blackstone’s credit arm GSO Capital Partners LP has raised a $5-billion fund through which to provide financing to distressed firms. The GSO Capital Solutions Fund II LP will aid companies that need cash and are facing liquidity problems such as pending debt maturities and covenant violations, according to a Business Wire statement Tuesday. Investors in the new fund include sovereign-wealth funds, United States state and corporate pension funds, insurance firms, endowments, foundations and family offices.

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The Allstate Corp. (NYSE:ALL): Current price $48.37

Allstate released on Tuesday its 2012 Corporate Responsibility Report, Knowledge Applied. The report makes Allstate’s eleventh and centers upon how the company, its agency owners, and employees turn information, ideas, and expertise into products and services that enhance people’s lives. Additionally, the report gives an update on Allstate’s progress toward its sustainability and social impact goals. Allstate continuously reviews its progress on key performance indicators that keep track of its corporate responsibility programs.

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