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Powell Threatened With Indictment

The U.S Department of Justice has opened a criminal investigation into Federal Reserve Chair Jerome Powell related alleged mismanagement of the Fed’s $2.5 billion headquarters renovation project. Powell says the probe is politically motivated and tied to pressure from the Trump administration to lower interest rates. No formal charges have been filed yet, but the legal scrutiny has rattled markets. Some sources claim that Trump doesn’t have any plans to fire Powell, while others say that the Trump administration is what supported his indictment.

Why it matters: The Fed’s independence is a cornerstone of U.S. monetary policy. Doubts about its autonomy can undermine market confidence and affect long-term bond yields, liquidity pricing, and credit conditions. These are areas investment bankers, asset managers, and analysts watch closely.

Understanding institutional independence, especially of the Fed, is key for careers in finance. Monetary policy isn’t just about rates: it’s about trust in the system. Situations that threaten that trust can ripple across credit markets and valuations.

Wall Street Focuses on a Busy 2026

Wall Street’s investment bankers are shifting their focus toward what they expect will be an active 2026 deal environment after a strong 2025. In 2025, global investment banking revenues exceeded $100 billion, with banks like Goldman Sachs $GS ( ▲ 0.33% ) , Morgan Stanley $MS ( ▼ 0.22% ) , and Citigroup $C ( ▼ 0.04% ) reporting notable upticks in M&A and IPO advisory activity. Deal pipelines remain robust, particularly in the healthcare and industrial sectors, and companies ranging from AI firms to space startups are eyeing IPO windows next year

Student Takeaway: This article signals a resurgence in Wall Street dealmaking after several challenging years of high interest rates and volatility. Strong banking fees and renewed IPO interest suggest not only that corporations are willing to transact but also that markets may be more receptive to risk and capital raising in 2026. For finance students, this underscores an important trend: market cycles matter and careers often follow where deal activity is densest.

Definition: Accretion and dilution refer to the impact of a transaction on a company’s earnings per share (EPS). After a merger or acquisition:

This measure is often used by bankers, private equity firms, and corporate strategists to evaluate whether a transaction is financially beneficial to shareholders in the near term.

Example:
Company A (EPS $2.00) acquires Company B (EPS $1.50). After the merger, Company A’s new EPS is $2.10.

Accretion / dilution analysis is a quick litmus test for investors and management to see whether a merger is immediately value-adding. It’s particularly important in strategic M&A discussions, negotiations, and investor communications. Even if a deal is strategically sound, being dilutive in the near term can affect stock price and market perception.

Student takeaway: Understanding accretion/dilution shows you can connect accounting, finance, and strategy. In interviews, you can impress by explaining how synergies, financing method (cash vs. stock), and deal structure influence whether a transaction is accretive or dilutive — key thinking for investment banking, private equity, and corporate development roles.

Mistake: Lying on your resume

This isn’t necessarily an interview mistake, more of a recruiting one. Nobody wants to admit that they lied on their resume but it has most likely crossed your mind before. Lying on your resume can cause a multitude of problems and seriously mess your career up. Sure, saying that you’re proficient in Excel might help you get the internship. But once someone asks you to build a balance sheet in Excel and you have no clue how to do that, you’re done for. Lying on your resume not only hurts you, but it hurts the company. You will make a fool of yourself and the person who hired you. Honesty goes a long way.

If you’re not proficient in Excel and desire a role that has that as a requirement, put that you are “working towards proficiency”. You might have a harder time landing that role but its nothing compared to embarrassing yourself and making a mockery of your career.

One of the fastest ways to accelerate your finance career is by studying real-world case studies. Whether it’s a blockbuster M&A deal, a failed IPO, or a private equity investment gone wrong, understanding what worked, what didn’t, and why helps you think like a professional before you even step foot in a bank, consulting firm, or accounting office.

Student takeaway: Don’t just memorize formulas or financial ratios, immerse yourself in real deal stories. Read case studies from sources like Harvard Business School, SEC filings, or investment banking media outlets. Being able to explain why a deal succeeded or failed shows interviewers that you think critically and strategically, not just technically.

In late September 2025, video game giant Electronic Arts (EA) $EA ( ▲ 0.01% ) agreed to be taken private in a record‑setting leveraged buyout (LBO) valued at approximately $55 billion. The consortium buying the company is led by Saudi Arabia’s Public Investment Fund (PIF), alongside private equity firm Silver Lake and Affinity Partners. EA shareholders will receive $210 per share in cash, representing a ~25% premium to the company’s unaffected trading price. The deal is expected to close in Q1 FY27 (mid‑2026), subject to regulatory and shareholder approvals.

The deal brought together an elite roster of advisors on both sides. EA retained Goldman Sachs $GS ( ▲ 0.33% ) as its financial advisor, responsible for structuring, valuation, and shareholder communications, while legal counsel was provided by Wachtell, Lipton, Rosen & Katz, a firm renowned for handling large, complex public company transactions. The buying consortium leaned on J.P. Morgan Securities LLC $JPM ( ▼ 0.26% ) for financial advice and debt financing, and engaged multiple law firms including Kirkland & Ellis, Gibson, Dunn & Crutcher, Latham & Watkins, Simpson Thacher & Bartlett, and Sidley Austin LLP to handle the legal intricacies of a multi-jurisdictional, high-stakes LBO.

Why it matters: This transaction is significant for several reasons. First, its sheer scale positions it as the largest all-cash sponsor-led take-private deal in history, setting a benchmark for future mega-deals. Second, the combination of a sovereign wealth fund and private equity sponsors highlights how global capital pools are increasingly influencing U.S. corporate ownership, particularly in technology and entertainment sectors. Third, the use of top-tier investment banks and law firms illustrates the depth of advisory bandwidth required to execute such a complex transaction, from negotiation to financing to regulatory approvals. Finally, the $20 billion of committed debt financing demonstrates how equity and leverage are combined strategically to close transformational deals.

It’s easy to get swept up in competition with other finance students shooting for similar goals and positions as you. I personally experience it every single time I open up LinkedIn. However, it’s important to focus on your success, not the success of others. I’m not saying to not be happy for a friend after they landed a big internship. But don’t let that discourage you.

Jealousy and envy are the components of failure, don’t conform to them. Use them to fuel your ambitions. Put your head down and work on securing the future that you want to live.

Invest in yourself.

Welcome to Campus Capital. Each week, we’ll break down the finance world in 5 minutes or less.
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My name is Braunsen Bax, I’m a honors finance and accounting student-athlete at North Central College in Naperville, Illinois (45 mins outside of Chicago). I graduated from Walton High School in Marietta Georgia. Outside of the classroom I compete in the throws events for the Track & Field team, 35 time NCAA DIII national champions. I’ve had a love of finance and the business world since my sophomore year of high school and started Campus Capital to share that love with my community and like minded individuals in a similar position, with similar goals. My mission is to help people like me shape their futures to ensure they reach their goals while being up to date and educated in the Finance industry.