wall-cross
v.— «Wells Fargo wanted to be among one of the first banks to get to the market before fund managers and investors became overwhelmed by the supply of stock. Being first also carried the risk that the offering could be too big, or badly priced, which would drain investor appetite and trigger a lot of trouble for future offerings. Speed was the key. Thursday, J.P. Morgan and Wachovia started calling select investors–many of them previous investors in Wells Fargo—to in Wall Street parlance—”wall-cross” them, following the same playbook Wells and J.P. Morgan used last fall to raise equity. The deal was opened publicly to investors just after 4 p.m.» —“Wells Fargo and Morgan Stanley: How to Raise $7.5 Billion in Stress-Test Money” by Heidi N. Moore Wall Street Journal: Deal Journal May 8, 2009. (source: Double-Tongued Dictionary)
Further reading
Enthusiastic book recommendations! Martha’s savoring the biography of Alexander von Humboldt, the 19th-century explorer, polymath, and naturalist who revolutionized our understanding of nature and predicted the effects of human activity on...
A documentary film called My Beautiful Stutter follows youngsters at a summer camp specifically for stutterers. It’s a place for finding acceptance, support, and confidence for navigating the larger world. And:, “The High Priestess of...