6 big banks, 6 big shake-ups

The mortgage mess has unleashed a restructuring wave as banks try to clean house.

Morgan Stanley
Morgan Stanley
What's shaking: The bank cut 600 jobs as it scaled down its residential mortgage business. Morgan said on Oct. 2 that it would combine its global mortgage businesses under a single platform.

Cause of concern: Morgan's third-quarter results, which the company reported in September, were hit hard by mortgage-related losses and a big writedown on leveraged loans.

Citigroup

Merrill Lynch

Bank of America

Bear Stearns

Lehman Brothers

Morgan Stanley
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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.