- CNBC Viewership Down 28%
- Big jump in NYSE delistings this year
- Bank Credit Swaps Head for Best Month Since April ’08
- Unpaid property taxes hit localities Read the rest of this entry »
Archive for July, 2009
CNBC’s ratings nose dive; NYSE delistings rise; CDS looking to its best month since April 2008; Unpaid property taxes hitting taking a toll
On July - 31 - 2009
Perry Capital’s Richard Perry shows the world his family jewels
On July - 31 - 2009
Check out Richard Perry’s 1 Sutton Place South terrace. It’s all blinged out with a 5 foot high green stainless steel diamond — a sculpture by Jeff Koons that sold in 2005 for $2.3 milllion. And it apparently hasn’t made him very popular with at least a couple of the neighbors. According to the NY Post:
Tags: Art, Hedge funds, Perry Capital, Richard Perry, Wealth
- Fed’s Bear Stearns, AIG Assets Rise, Paring Losses
- Tarp banks award billions in bonuses
- It May Be Outrageous, but Wall Street Pay Didn’t Cause This Crisis
- U.S. Limits on Bank Pay, Bonuses Face Senate, Obama Skepticism
- After Rescue, New Weakness Seen at A.I.G
- Citigroup set to offload Japanese fund management business
- HSBC May Post Loss on $15 Billion Bad Loan Provisions
- NYSE ‘not a fan’ of flash orders Read the rest of this entry »
Tags: AIG, Autos, Bear Stearns, Bonuses, Citigroup, Compensation, Delphi, Fed, HSBC, Microsoft, NYSE, Politics, TARP, Taxes, Yahoo
Hilarious: The Daily Show lampoons Tim Geithner’s handling of the economic crisis (his house might sell if the bathroom weren’t so “ghastly”)
On July - 30 - 2009
This is a very funny lampooning of Tim Geithner, his handling of the economic crisis and his inability to sell his Larchmont, NY home. Yes, that picture really is the home’s bathroom, which The Daily Show’s John Oliver proclaims is “ghastly”.
Tags: Economy, Jon Stewart, Real Estate, The Daily Show, Tim Geithner, U.S. Treasury
As if they needed more bad headlines: Goldman Sachs lawyer caught in sex sting, accused of sex-chatting / soliciting ‘a 15 year old’ $GS
On July - 30 - 2009
Goldman Sex: Ouch. The Goldman Sachs name is being dragged through the mud from every angle these days as the root of all evil. And the latest: A lawyer with Goldman, Todd Genger, a 33 year old married father of three, was caught in a sting where he sex-chatted a supposed 15 year old (who was really an undercover cop) and then travelled to Westchester county to do the deed. If he’s convicted, he’s looking at 1 1/3 to 4 years in prison…. Read the rest of this entry »
Tags: Goldman Sachs, Lawyers, Legal, Scandal, Sex
- Senate Probes Banks for Meltdown Fraud
- Citigroup ‘Moving Extremely Fast’ on Asset Sales
- New Poll Finds Growing Unease on Health Plan
- Lucrative Fees May Deter Efforts to Alter Troubled Loans
- Obama Sees ‘Beginning of the End’ of U.S. Recession
- Goldman Says Curbing Speculators May Disrupt Markets
- Goldman Sachs Hatred Might Cost You Your Bonus: Jonathan Weil
- Key US Dollar Libor Rate Falls To New Record Low Read the rest of this entry »
Tags: Autos, Barack Obama, Bernie Madoff, Delphi, Deutsche Bank, Goldman Sachs, Health Care, Interest Rates, JP Morgan, Mortgage meltdown, Politics, Yahoo
- House Panel Passes Bill to Set Rules on Executive Compensation
- How Firms Wooed a U.S. Agency With Billions to Invest
- Microsoft, Yahoo! Change Search Landscape
- Phibro mum after White House slams reported $100 million payday
- Oil Speculation Limits Weighed
- Stanford Receiver Seeks Clawback of $925 Million Read the rest of this entry »
Tags: Allen Stanford, Apple, Autos, Bank of America, Bankruptcy, Casinos, Citigroup, Compensation, GM, Google, Microsoft, Oil, Politics, Yahoo
Allen Stanford not cool with his government provided accomodations
On July - 28 - 2009
He’s *literally* not cool with them, and he wants to be moved. According to the NY Post: Read the rest of this entry »
Tags: Allen Stanford, Fraudsters, Legal, Scandal
Jeremy Grantham’s 2nd Q 2009 letter
On July - 28 - 2009
Here’s Grantham Mayo Van Otterloo’s Jeremy Grantham’s always anticipated quarterly letter:
Read the rest of this entry »
Tags: Hedge funds, Jeremy Grantham
- Congress Debates Onus For Goldman Bonus
- Bashing Goldman Sachs Is Simply a Game for Fools: Michael Lewis
- Loan Officer: Dodd Knew He Got VIP Deal
- SEC Moves To Limit Short Sales Of Stocks
- UBS Brokerage Suspends U.S. Sales of Leveraged ETFs
- Nomura May Report First Profit Since 2007, Led by Trading
- Almost $165 Billion in Commercial Loans Due in ‘09
- Kerviel Lawyer Says SocGen Knew of Trading Positions Read the rest of this entry »
Tags: AIG, CDS, Goldman Sachs, Interest Rates, Jerome Kerviel, Nomura, Politics, Rogus Traders, SEC, Short selling, UBS
- U.S. Pay Czar to Rework Contracts Deemed High
- Citi in $100 Million Pay Clash
- High-Frequency Trading Faces Challenge as Schumer Presses SEC
- ‘Blue Dog’ Democrats Hold Health-Care Overhaul at Bay
- A Bid to Tax Health Plans of Executives
- Al-Raya Chief Who Faced SEC Charges Is Found Dead
- Seven Banks Fail, Making It 64 for ‘09
- Citi ‘milestone’ as Washington takes 34% stake Read the rest of this entry »
Tags: Banks, Ben Bernanke, Bonuses, Citigroup, Compensation, Fed, Health Care, Politics, SEC, Taxes, Trading
“Madoff With the Money”: Bernie was bad to the bone from birth…
On July - 24 - 2009
That’s what a new book, “Madoff With the Money”, coming out next month is claiming according to Page Six. He’s said to have “robbed Uncle Sam out of two years of Viet-nam War-era Army Reserve active duty by developing a case of the nerves.” There are more tales of his being “a serial Casanova”, of a mentor’s ties to the Chicago mob, and of his wearing two gold watches, telling a friend: “I gotta know what time it is in my London office”….
Madoff a Monster From Birth – Page Six / NY Post
Tags: Bernie Madoff, Books, Fraudsters, ponzi schemes, prison inmates
Wrong in a big way during the meltdown, Bill Miller is bullish; Fortress on the hunt for acquisitions; Activists looking to smaller prey; Long Island hedge fund manager fraud probe
On July - 24 - 2009
- Blindsided by Bear, Mr. Miller Sees Bull
- Fortress plans buying spree
- Activist investors eye smaller prey
- Hedge-Fund Manager Investigated for Fraud Read the rest of this entry »
Tags: Activists, Bill Miller, criminal investigations, Fortress, frauds, Hedge funds
- Dodd Says U.S. Shouldn’t Rule Out Helping CIT Avoid Bankruptcy
- Traders Profit With Computers Set at High Speed
- JPMorgan Said to Increase Some Banker Salaries Starting in 2010
- Buffett’s Goldman Stake Pays Richly
- Jersey Mayors Stung in Graft Probe
- Citigroup asks Fannie Mae director to join board Read the rest of this entry »
Tags: Amaranth, Amazon, Bankruptcy, CIT, Citigroup, Crime, Goldman Sachs, JP Morgan, Legal, Microsoft, Politics, Warren Buffett
Jeffrey Epstein, now free to roam, is said to be helping the feds nail ex-Bear Stearns hedge fund managers Ralph Cioffi and Matthew Tannin
On July - 23 - 2009
Billionaire financier / registered sex offender Jeffrey Epstein is now out of prison — six months early apparently, because he’s cooperating with feds in prosecuting former Bear Stearns hedge fund managers Ralph Cioffi and Matthew Tannin. Read the rest of this entry »
Tags: Bear Stearns, Hedge funds, Jeffrey Epstein, Meltdowns
- Obama Indicates He’s Willing to Consider Risk Fee for Banks
- Pelosi Says She Has Votes to Pass House Health Plan
- Berkshire Hathaway reduces stake in Moody’s
- AIG Held Off Bonuses Planned for Last Week
- Goldman Relents, but Not Chase
- Credit Suisse Profit Rises 29% on Gains From Trading Read the rest of this entry »
Tags: AIG, Amazon, Autos, Barack Obama, Berkshire Hathaway, CIT, Credit Suisse, Ford, Fraudsters, Goldman Sachs, Health Care, Politics, SEC, Warren Buffett
Goldman Sachs removes the last of its TARP yoke remnants: it’s buying back its warrants from Uncle Sam for $1.1 billion
On July - 22 - 2009
Goldman Sachs is now completely free of its TARP yoke, agreeing to pay the government $1.1 billion for the warrants it was forced to issue when the firm agreed not-so-willingly to accept TARP funds. The return to Uncle Sam, combined with dividend payments on the TARP preferred: 23%.
Lloyd Blankfein commented: Read the rest of this entry »
Tags: Credit Crunch, Fed, Goldman Sachs, Meltdown, Politics, TARP, U.S. Treasury
- Ruth Madoff was spotted at LaGuardia bound for Raleigh, NC, presumably to visit her now-rotting-away-in-prison hubby Bernie. Has she dyed her haor? IT’s apparently “noticeably darker, and she was wearing ripped jeans and a baseball cap”. And she apologized for holding up the line: “I’m not together today.”
- Marc Dreier’s apartment and contents went for $8.2 million to an undisclosed bidder. Read the rest of this entry »
Morgan Stanley earnings disappoint ($MS)
On July - 22 - 2009
Briefing.com had the following comment on Morgan Stanley’s earnings:
08:17 MS Morgan Stanley misses by $0.88, beats on revs (27.13 ) Read the rest of this entry »
Tags: Earnings, John Mack, Morgan Stanley
- Doubts Slow Financial Regulation Overhaul on Capitol Hill
- Budget Agreement Deepens California’s Pain
- GE Capital Approved for Plan to Exit FDIC-Backed Debt
- CIT Said to Have Spurned $2 Billion Secured GE Loan
- Microsoft Terminates Its Financing Relationship With CIT Group Read the rest of this entry »
Tags: California, Cerberus, CIT, Jamie Dimon, JP Morgan, Microsoft, Politics, Yahoo
Scammer Marc Dreier’s posh 3,000 sq foot $10.4 million apartment at apartment at 151 East 58th St is on the auction block today, contents and all — which apparently even includes a half eaten raspberry peach pie (maybe it’ll wind up on Ebay). Read the rest of this entry »
Tags: Marc Dreier, prison, Real Estate, scammer
- The Fed’s Exit Strategy
- Big Estimate, Worth Little, on Bailout
- Obama hits out at unrepentant Wall Street banks
- Deutsche Bank Fires Two in Spying Probe
- Morgan Stanley Picks DiMaio for Interest-Rate Unit Read the rest of this entry »
Tags: AIG, Allen Stanford, Amazon, bailout, Barack Obama, Ben Bernanke, Citigroup, Credit Suisse, Deutsche Bank, Fed, Morgan Stanley, TARP
- California Lawmakers, Governor Strike Deal on Budget
- CIT may be saved – but now what?
- Obama Seeks Ways to Aid Auto-Parts Makers, Locke Says
- Ex-CFO Sues D.B. Zwirn, Founder For Defamation
- Back-to-School Shoppers Plan to Spend Less, Save More Read the rest of this entry »
Tags: Autos, Barack Obama, California, CIT, Hedge funds, Retailing
- Bondholders Plan CIT Rescue
- Bailout Overseer Says Banks Misused TARP Funds
- In Washington, One Bank Chief Still Holds Sway
- White House chief of staff declines JPMorgan invite
- Citi’s Latest Snag: Froman’s Funds Read the rest of this entry »
Tags: Banks, Barclays, Ben Bernanke, CIT, Citigroup; Fortress, JP Morgan, KKR, Politics, recession, TARP
Jamie Dimon to the rescue again?: There’s speculation that JP Morgan may be negotiating to buy struggling CIT’s factoring unit $JPM $CIT
On July - 17 - 2009
Is Jamie Dimon looking to cherry pick CIT’s profitable factoring unit? There’s speculation that JP Morgan may get involved.: Read the rest of this entry »
Tags: Bankruptcy, CIT, JP Morgan, retailers
