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Big Banks Should Consider Spinoffs: Purcell

The First Corner

Big banks should start considering their shareholders and look at options that might be uncomfortable such as spinning off businesses, Phil Purcell, the former head of Morgan Stanley, told CNBC’s 'Squawk Box' Thursday.



Money On Hook

Goldman ordered to repay $80m

Goldman Sachs must repay $80m with interest that National Australia Bank invested in a mortgage security before the financial crisis, a Financial Industry Regulatory Authority arbitration panel said.