Daily Archives: May 17, 2010

John Gapper

Larry Ellison’s comments on Sun Microsystems’ past under Jonathan Schwartz ought to be taken with a pinch of salt given that he has yet to justify the acquisition, but perhaps he has a point.

Mr Ellison told Reuters last week that he was “astonished” at the mismanagement he found at Sun after Oracle took it over in 2009 for $7.4bn. It is the latest in a series of incendiary remarks by Mr Ellison about Sun – he once accused the European Commission of causing 3,000 job losses by delaying the deal. 

John Gapper

Despite being a supporter of the “Volcker rule”, I struggle to understand the logic of the move in the Senate to force deposit-taking banks to spin off their swaps desks.

Banks are fighting a desperate rearguard action against the proposal made by Blanche Lincoln, the chairman of the Senate agriculture committee and I think they are right in this case.