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By Chris Hughes
The world may gloat at London’s mishaps. And for the over-extended UK, the economic wisdom of spending $14 billion on the Games is uncertain at best. Yet British spirits are high. Olympic investment is paying dividends, even if they aren’t strictly financial.

Jamie Dimon to Sandy Weill: drop dead

By Antony Currie
A shake-up at JPMorgan leaves investment banking boss Jes Staley the odd man out. More significantly, Dimon is lauding the idea of knitting together JPMorgan’s parts more tightly just as his former mentor reignited a push to break up big banks. Consider the fight fully rejoined.
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Draghi bond-buying hints won't end crisis

By Neil Unmack
A promise by the ECB president to defend the euro has triggered hopes of more bond buying, and driven down Spanish and Italian yields. Draghi’s words make more bond purchases quite likely, but anyone hoping for a game-changing crisis response may be disappointed.

Winner’s curse haunts banks in Asian block trades

By Wei Gu
The banks that arranged a $720 mln quick sale for Carlyle in China Pacific Insurance look to have taken a licking on the trade. Block deals may help league table credit, especially when business is moribund. But aggressive bidding can leave a bitter aftertaste.

Securitizing rent has more problems than promise

By Daniel Indiviglio
Crafting bonds backed by rent is being touted as a way to fund mass purchases of foreclosed U.S. homes. But big obstacles - sparse data, management challenges and new risks for investors - complicate matters. It could be years before such bonds are sold. And they won’t be cheap.

M&A; Davids wallop Wall Street Goliaths

By Antony Currie
Bulge bracket banks had a decent second quarter on deals. But combined advisory revenue this year for Evercore, Greenhill and Lazard is stable, while for their bigger rivals it’s down by 24 pct. In a slow market, every victory matters, and the battles won’t get any easier.

Nomura resignations pave way for the Lehman unwind

By John Foley
The departing CEO and COO authored the Japanese brokerage’s purchase of Lehman Brothers. Their strategy wasn’t wrong, just unlucky. While parts of Nomura are doing well, the market is brutal and returns on equity meager. The new broom has a rare chance to suggest a graceful exit.
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