Wall Street Folly

• Senator opposes Fed chief Bernanke renomination
• Shhh! Wall Street is Spending Again
• UAE central bank sets up emergency facility for banks
• Crisis Puts Focus on Dubai’s Complex Relationship With Abu Dhabi
• Dubai Default Swaps Show No Distress on Bailout Bets
• U.A.E. Blocks Sunday Times Over Coverage of Dubai Debt Crisis
• London Times Back on U.A.E. Newsstands After Sunday Edition Pulled
• Bank of America Trims Salary for 2 Top Executives
• UBS threatens to move HQ from Switzerland: report
• U.S. Treasury to Push Lenders to Finish More Home Modifications
• RIP: Fred Joseph, Former Drexel Burnham CEO, Dies at 72
• RIP: Ari Kiev, a Psychiatrist, Dies at 75 Read the rest of this entry »

Tags: Bank of America, Ben Bernanke, Bonuses, Compensation, Conspicuous consumption, Dubai, Fed, Obituaries, retailers, Sovereign wealth funds, Wealth

• Dubai Shows Limits of Government Rescues, Roubini’s Das Says
• Mobius Says Dubai May Trigger Markets ‘Correction’
• Dubai Debt May Be Higher Than $80 Billion, UBS Analysts Say
• Dubai creditors have little option but to accept the hand they’ve been dealt
• Abu Dhabi Commercial Said Owed $1.9 Billion by Dubai
• Ex-UBS Banker Seeks Billions for Blowing Whistle
• Feinberg Stumping Helps Obama, Geithner Skirt Public’s Pay Ire
• UBS, Ernst & Young Call Claims in Madoff Case ‘Vague’ Read the rest of this entry »

Tags: Bernie Madoff, Compensation, Dubai, Marc Mobius, Pay czar, Sovereign wealth funds, UBS

• Rajaratnam’s Brother Drew Scrutiny
• Galleon Chief Attacks Government’s Case Against Him
• Galleon Sells Commercial Bank, Sri Lanka Shares, Regulator Says
• Benmosche Reaffirms His Commitment to Leading AIG
• AIG’s Benmosche Signs Noncompete Deal
• Lehman Creditors Want Barclays Data From U.K.’s FSA
• Madoff Victim’s Proposed Probe of Liquidator Denied
• UBS, Ernst & Young Face Test Cases Over Madoff Funds
• Hedge funds set for rebound to pre-crisis level Read the rest of this entry »

Tags: AIG, Bernie Madoff, Compensation, Galleon, Hedge funds, Insider Trading, Legal, Lehman Brothers, LSE, Microsoft, Raj Rajaratnam, UBS

• AIG’s Rescue Bedevils U.S.
• Start Date Is Critical in Ponzi Plan
• Madoff liquidator seeks fees of $22.1m
• Fed Said to Ask Stress-Tested Banks to Submit Plans on TARP
• Billions in Lehman accounts unfrozen
• Black’s Apollo Revives Plan for New York Stock Exchange Listing
• U.K. Bankers Chafe Under the Microscope
• Nomura Fined $2.9 Million for Mis-marking Derivatives
• Murdoch courts trouble if he blocks Google on news Read the rest of this entry »

Tags: AIG, Apollo, Bernie Madoff, Carl Icahn, Fed, GM, Google, Lehman Brothers, Leon Black, Microsoft, Nomura, Politics, ponzi schemes, Rupert Murdoch, TARP

• Jamie Dimon seen as good fit for Treasury
• BofA May Name Stopgap Chief If Board Needs More Time for Search
• Goldman’s Response to Questions About A.I.G.
• UK: Top bank traders face pay disclosure
• Investment Firm Splits in Two Over Internal Rifts
• Microsoft, News Corp. In Early Talks On Web Deal
• Would Bing switch really dent Google?
• G.E. and Vivendi Halt Talks Over Stake in NBC Read the rest of this entry »

Tags: Bank of America, Bonuses, Compensation, Goldman Sachs, Google, Hedge funds, Jamie Dimon, JP Morgan, Ken Lewis, Microsoft, Tim Geithner, U.S. Treasury

Sounds like they’ve learned little, if nothing during the real estate meltdown.  According to the NY Times the FHA is making easy money for big mortgages available to those with virtually no cash  down.  It recently  loaned three nearly cashless twenty-something guys the scratch to buy a 2 unit apartment building for close to $1 million.  Their collective downpayment?  Around $33K, or $11K a piece.  Virtually no skin in the game.   Oy. Read the rest of this entry »

Tags: Accidents waiting to happen, Credit Crunch, Easy money, FHA, Meltdowns, Real Estate

• Goldman Holders Miffed at Bonuses
• SEC told to improve ways it chooses probe targets
• Pequot Worker Told Therapist That Samberg Sought Tips
• House Attacks Fed, Treasury
• Commodities to Get Record $60 Billion, Barclays Says
• Giuliani Said to Consider Run for U.S. Senate Over Governorship
• Problem mortgages hit new high at 14 percent
• GM Says Auto Sales Rate May Be 10.8 Million in Sign of Recovery
• Zucker Says He Regrets Focus on Margins in Leno Shift
• Winfrey’s long goodbye Read the rest of this entry »

Tags: Art Samberg, Bonuses, Commodities, Compensation, GM, Goldman Sachs, Oprah, Pequot, Politics, Rudy Giuliani, SEC, Tim Geithner, U.S. Treasury

More Goldman Sachs love from Jon Stewart on The Daily Show….

Tags: Goldman Sachs, Humor, Jon Stewart, Politics, The Daily Show, Videos

Timmy had kind of a tough day on the congressional hot seat, enduring slings and arrows.   Here’s one of the exchanges….

Tags: Politics, Stimulus, Temper, Tim Geithner, U.S. Treasury, Videos

• Whitney Says Goldman Sachs Lost ‘Tremendous’ Talent
• Small Businesses Turn to Goldman
• New Link Seen in Galleon Insider-Trading Case
• Geithner: ‘The credit crunch is not over’
• A Hedge-Fund King Comes Under Siege
• Lehman Brothers Creditors File $824 Billion in Claims
• Thain self be true
• Morgan Stanley’s Mack Welcomes Regulation by Fed Read the rest of this entry »

Tags: Autos, Bank of America, Bankruptcy, Chrysler, Citadel, Credit Crunch, Fed, Galleon, Gold, Goldman Sachs, Hedge funds, John Thain, JP Morgan, Ken Griffin, Lehman Brothers, Meredith Whitney, Merrill Lynch, Politics, Raj Rajratnam, Revolving Door, Tim Geithner

Tags: AIG, Apologies, Bank of America, Bernie Madoff, Bonuses, Citigroup, Compensation, Credit Crunch, Donald Trump, Fed, Gold, Goldman Sachs, John Paulson, Politics

• Lehman Sues Barclays Capital
• America’s Newest Land Baron: FDIC
• Geithner under fire over AIG payments
• Audit Is Critical of N.Y. Fed in AIG Bailout
• New York Fed under fire over crisis bank payments
• TARP Can’t Save Some Banks
• Millions may have to repay part of stimulus tax credit
• Buffett’s Berkshire Discloses Exxon, Nestle Stakes
• Microsoft Co-Founder Treated for Lymphoma Read the rest of this entry »

Tags: AIG, Barclays, Bernie Madoff, Bill Ackman, GMAC, Goldman Sachs, Hedge funds, Lehman Brothers, Paul Allen, TARP, Tim Geithner, Wachova, Warren Buffett

Crain’s NY published a piece on Ivanka Trump and her new hubby Jared Kushner.  Doesn’t seem like she’s so pleased with the piece given her Twitter tweets from a little while ago: Read the rest of this entry »

Tags: Donald Trump, Ivanka Trump, Jared Kushner, Lucky Sperm club, Real Estate, Wealth

• Madoff’s ‘Prisoner’ Watch, Mets Jacket Boost $900,000 N.Y. Sale
• Madoff’s ill-gotten gains sold off
• Bank of temerity
• Hedge Funds Struggle
• UBS’s Debt Trading, Cause of Near Collapse, Is Key for Revival
• Deutsche Bank CEO Calls For Careful Global Bank Regulation
• Gold hits record on weak dollar, technical momentum
• JPMorgan Said to Be in Talks to Buy Remainder of Cazenove Stake
• Sands to Put Macau Focus On Foreigner
• GM Said to Repay Government $6.7 Billion Sooner Than Required Read the rest of this entry »

Tags: Autos, Bank of America, Bernie Madoff, Deutsche Bank, GM, Gold, Hedge funds, JP Morgan, Merrill Lynch, Politics, TARP, UBS

• Jamie Dimon Op Ed: No more ‘too big to fail’
• Barofsky Says TARP ‘Almost Certainly’ Will Bring Loss to U.S.
• Pay czar backtracks
• Robin Hood Says ‘Hell Yeah’ to Recovery Led by Goldman Bonuses
• Corzine to Aid Christie Transition, Has No Post-Governor Plans
• Citadel’s Moment for Redemption
• Eliot Spitzer Avoids Talk of Hookers in Harvard Ethics Speech
• Buffett Says U.S. Should Put Pressure on CEOs of Rescued Firms
• Two potential buyers closing in on Playboy Read the rest of this entry »

Tags: Bank of America, Bonuses, Citadel, Compensation, Eliot Spitzer, Goldman Sachs, Hedge funds, Hookers, Jamie Dimon, Jon Corzine, JP Morgan, Pay czar, Philanthropy, Playboy, Scandal, Warren Buffett

• SAC Capital Ex-Analyst Under Probe in Inside Case
• Ex-Balyasny Analyst Linked to Fortuna in Galleon Trading Case
• In Charity Tax Filing, a Glimpse of Goldman
• Bear Stearns Loss Echoes Long Line of U.S. Prosecution Defeats
• Feds may change tactics after Bear
• Billionaire Bill Gates says Wall St pay too high
• White House Aims to Cut Deficit With TARP Cash Read the rest of this entry »

Tags: AIG, Bear Stearns, Galleon, Gold, Goldman Sachs, Hedge funds, Insider Trading, Legal, Philanthropy, Politics, SAC Capital, TARP

• Bear Managers’ Acquittal May Hamper U.S. Fraud Prosecutions
• Bear Juror Says U.S. Case So Weak She’d Invest With Defendants
• E-mail strategy fails in Bear hedge fund case
• Bear Stearns Case Shows E-mail Isn’t Everything: Ann Woolner Read the rest of this entry »

Tags: Bear Stearns, Email, Galleon, Hedge funds, Legal, Meltdown

• AIG’s Benmosche Threatens to Jump Ship
• Madoff Former NYC Penthouse Gets $1 Million Price Cut
• Picower’s Widow Seeks Madoff Trustee Deal After Filing of Will
• Goldman chief defends employees’ pay
• Ambac, MBIA Tumble as Losses May Overwhelm Bond Insurers
• Fed’s Fisher Says Growth May Be Suboptimal Into 2011
• Dodd’s reform plan takes aim at the Fed Read the rest of this entry »

Tags: AIG, Bernie Madoff, Bonuses, Compensation, Economy, GM, Goldman Sachs, Politics, Revolving Door

Prosecutorial smackdown:  CNBC reported that former Bear Stearns hedge managers Ralph Cioffi and Matthew Tannin have been found not guilty on all charges.

More:

Ex-Bear Stearns hedge fund managers acquitted – Reuters

Bear Stearns Managers Acquitted of Fraud Charges - NY Times

Ex-Bear Fund Managers Not Guilty of Subprime Fraud – Bloomberg

Tags: Bear Stearns, credit crunch legal, Hedge funds, Politics

• Barclays’ Remarkable Bargain
• Pieces of Madoff Are on the Block
• Trustee Seeks Billions for Madoff Investors
• Morgan Stanley trading behind Goldman
• Lazard eyeing new leadership structure
• Fannie May Write Down $5.2 Billion in Tax Credits
• Wage Freeze Is Lifted for Some at J.P. Morgan Read the rest of this entry »

Tags: Goldman Sachs, Health, Humor, SNL, Videos

• I’m doing ‘God’s work’. Meet Mr Goldman Sachs
• Wall Street Record Bonuses Return as Big 3 May Pay $30 Billion
• Board May Reject Lewis’s Picks to Succeed Him
• Dimon dad takes job at JPMorgan
• Citigroup Asset Guarantees May Cost U.S. Taxpayers, Panel Says
• U.S., U.K. Split Over Bank-Tax Proposal at G-20
• JPMorgan to Grow Indian Investment Banking Unit, Morparia Says
• Comcast, GE Said to Set $30 Billion Valuation for NBC Universal Read the rest of this entry »

Tags: Bank of America, Citigroup, Goldman Sachs, Jamie Dimon, JP Morgan, Ken Lewis, Lloyd Blankfein

• A tale of ‘Greek’, ‘Rat’ and ‘bat phones’
• Inside-Trade Probe Snares ‘Octopussy’
• Rajaratnam’s Former Colleagues Cooperate, Plead Guilty in Case
• Schottenfeld Draws Scrutiny After Goffer Arrest in Insider Case
• Rajaratnam Judge Denies Bail Cut, Allows Wider Travel
• Spotlight Shines on Small Trading Firms Organized as ‘Eat-What-You-Kill’ Shops
• SEC Complaint pdfs Read the rest of this entry »

Tags: Galleon, Hedge funds, Insider Trading, Legal, Raj Rajaratnam, Schottenfeld, Zvi Goffer

• Fannie Arrives at a Deal to Sell $2.6 Billion in Unused Tax Credits
• Citigroup Plans IPO For Primerica Life-Insurance Unit
• Uproar as Firms Get Swine-Flu Vaccine
• AIG Posts Net Income of $455 Million, Second Straight Profit
• Fannie’s Draws From Emergency Treasury Fund Reach $60 Billion Share Business Exchange
• Buffett’s ‘Wake-Up Call’ to Managers May Signal More Cost Cuts
• BofA’s Moynihan Said to Testify as House Sorts Merrill E-Mails
• BNY Mellon’s Kelly Says He Doesn’t Want Bank of America Post
• U.S. Property Investors Deem 2010 Worst Time to Sell Read the rest of this entry »

Tags: AIG, Bank of America, Citigroup, Fannie Mae / Freddie Mac, Goldman Sachs, Morgan Stanley, Real Estate, Warren Buffett

The alleged Galleon insider trading web expanded this morning with the FBI busting 14 more:

U.S. prosecutors charged 14 people, including a former employee at the offices of the Galleon Group hedge fund firm, as part of an investigation of an alleged $20 million insider trading scheme.

Craig Drimal, who according to court documents worked at the offices of Manhattan-based Galleon, was arrested today along with Zvi Goffer, Arthur Cutillo, Jason Goldfarb, Emanuel Goffer, David Plate and Michael Kimelman. Charges against the men include conspiracy and fraud, according to documents filed in New York federal court. Names of the other seven defendants weren’t immediately available.

Ex-Galleon Worker, 13 Others Charged in Insider Scam – Bloomberg

Tags: Busted, Galleon, Hedge funds, Insider Trading, Legal, Moody's, Raj Rajratnam