This correspondence revisits the joint transceiver optimization problem for multiple-input multiple-output (MIMO) channels. The linear transceiver as well as the transceiver with linear precoding and decision feedback equalization are considered. For both types of transceivers, in addition to the usual total power constraint, an individual power constraint on each antenna element is also imposed. A number of objective functions including the average bit error rate, are considered for both of the above systems under the generalized power constraint. It is shown that for both types of systems the optimization problem can be solved by first solving a class of MMSE problems (AM-MMSE or GM-MMSE depending on the type of transceiver), and then using majorization theory. The first step, under the generalized power constraint, can be formulated as a semidefinite program (SDP) for both types of transceivers, and can be solved efficiently by convex optimization tools. The second step is addressed by using results from majorization theory. The framework developed here is general enough to add any finite number of linear constraints to the covariance matrix of the input.