Your daily dose of financial news

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Wall Street’s internal watchdog, the Financial Industry Regulatory Authority (or Finra), is stepping back to take a whole-forest look at the “cultural values at more than a dozen brokerage firms,” in an effort to “understand how [they] affect[] compliance and risk management practices at firms” – NYTimes

Word leaked this week that Time, Inc. is potentially interested in picking up what Yahoo’s putting down, and Breakingviews has wasted no time in preemptively calling any such deal a “disaster” (and invoking the ill-fated Time Warner/AOL deal to make its point) – NYTimes

Forget Iran as the only stumbling block to the oil cap—how about Saudi saying no go in no uncertain terms? – WSJ and Bloomberg

Which was not good for global commodities prices . . . which was not good for global markets . . . which will not be good for Wall Street – WSJ

The Deal Professor digs deeper into Washington’s reticence over the recent trend (explored here last week) of Chinese companies looking to snap up American corporations—especially those in tech – NYTimes

BofA’s getting back into the low-income home mortgage game. Hear that sound? It’s just Santayana tsk’ing from beyond the grave – Marketplace

Another of the Journal’s new Streetwise installment, which likens central banks to Alice gone down the rabbit hole—where “almost nothing is taboo,” including the bandied-about idea of Japan printing money to buy oil rather than government bonds – WSJ

One interesting side effect of the recent global upheaval in the markets: a near complete reversal of strategy for private equity, which is largely shifting to buying again after 5 years of  selling like crazy – NYTimes

Defendant banks are trying for a Daimler-style lack-of-personal-jurisdiction approach to escape Libor-manipulation-related charges in SDNY Court, arguing that merely registering to do business in New York isn’t sufficient – Law360

More on the Honeywell/United Technologies merger rumors, including very different takes on the status of any mash-up from each side – NYTimes

Because 26.2 apparently isn’t all that it used to be, International Falls, MN presents the Arrowhead Ultra 135.  We’re not messing around here in the North – NYTimes

MDR

Follow me on Twitter: @reifmd

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