Wells Fargo is experiencing an exodus of mortgage bankers. Insiders explain why.
Good morning and welcome to Insider Finance. I'm Dan DeFrancesco, and here's what's on the agenda today:
- Wells Fargo is experiencing an exodus of some of its top mortgage bankers. Insiders detail why.
- SPACs are in the SEC's crosshairs, but hedge funds aren't worried.
- SEC commissioner Hester Peirce sounds off on why a Bitcoin ETF should be approved.
Micromanagement, surprise employee investigations, and email surveillance: Why top mortgage bankers are quitting Wells Fargo in the middle of a red-hot housing market
More than 20 of the bank's top mortgage lenders have left in the past year, while four members of the elite President's Club have left since December. Insiders described a culture of heavy oversight and clunky technology that limited their ability to do business.
The CFTC's whistleblower program could go bust thanks to a high-dollar payout. Here's why a $100 million payout to a former Deutsche Bank executive could put it in jeopardy.
The SEC has proposed cracking down on blank-check companies. Why the 'SPAC Mafia' hedge funds aren't worried about regulation.
Despite the SEC's proposed new regulations on special-purpose acquisition companies, hedge-fund managers say the rule changes won't affect their outlook on the blank-check vehicles. Here's why.
SEC commissioner Hester Peirce says the agency created an 'investor protection problem' by not approving a Bitcoin ETF - a day after chairman Gary Gensler dashed hopes of that happening this year
Hester Peirce said US crypto investors are now going through "less direct routes to get the same result." Here's what else she said.
D1 founder Dan Sundheim, whose hedge fund was rocked by the WallStreetBets frenzy, says shorting isn't 'evil' but that he's changing up his approach
D1 lost 20% in January after retail investors pumped up the value of AMC, which Sundheim was short. Here's more on Sundheim's new approach.
A rising star at $8.8 billion Perceptive Advisors breaks down why the biotech hedge fund is so bullish on BridgeBio
Perceptive Advisors' Ellen Hukkelhoven explained why the $8.8 billion manager is a fan of BridgeBio. Here's why he's a believer in its drug testing process.
Hedge fund Tiger Global is beating out Silicon Valley VCs and averaging more than 1 startup investment per business day so far this year. Here's 110 of them.
Tiger Global has made a ton of startup investments in 2021, according to Pitchbook data. We compiled a list of 110 of them.