Archive for December, 2009

  • Ratting against Raj
  • AIG Said to Give Departing Lawyer $3.8 Million in Severance Pay
  • Madoff Returned From Hospital to Medium Security Cell
  • U.S. takes majority stake in GMAC, giving lender $3.8 billion more in aid
  • Freddie and Fannie cap lift draws anger
  • Bonus Tax May Drive Financial Firms Out of the U.K., BBA Says
  • Ex-Banker Arbizu Says He Won’t Respond to JPMorgan’s Lawsuit Read the rest of this entry »
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  • GMAC Said to Discuss U.S. Aid Package of $3 Billion or More
  • GMAC Set for Another Cash Infusion
  • Fund Chief Snared by Taps, Turncoats
  • Rich Cling to Life to Beat Tax Man
  • The Price for Fannie and Freddie Keeps Going Up
  • Lehman move releases $11bn Read the rest of this entry »
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  • Morgan Stanley to Overhaul Pay Plan
  • Bonus tax on banks shapes JPMorgan plans
  • The Man Who Wired Silicon Valley
  • BofA Merrill back on track with new blue-chip clients
  • Biggs, Faber Predict Dollar Rally as S&P 500 Extends 67% Surge
  • U.S. central bank pushes for new exit tool Read the rest of this entry »
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  • Tycoon attacks return of bankers’ bonuses
  • Hedgies Exhale After Strong ‘09 Rebound
  • Feds investigating Stanford ties to lawmakers-report
  • Investors Reshape IndyMac
  • New Hedge Funds Gain Momentum
  • Holiday Retail Sales Rose an Estimated 3.6%, SpendingPulse Says
  • ‘Avatar,’ Chipmunks lead worldwide box office Read the rest of this entry »
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  • Senate Passes Legislation to Overhaul U.S. Health-Care System
  • Master of risk who did God’s work for Goldman Sachs but won it little love
  • Dimon, Blankfein, Mack Among First to Testify at Crisis Panel
  • Senate Votes to Increase U.S. Debt Ceiling by $290 Billion
  • Barclays’ Bob Diamond reveals £5m share disposal
  • Morgan Stanley Appoints 212 New Managing Directors
  • Grassley puts pressure on Treasury in tax dispute
  • Buffett’s back, Billionaire looks to lock up GMAC’s ResCap Read the rest of this entry »
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  • Bernanke’s Confirmation Support Runs 3-1 in Favor in Senate
  • Top hedge funds bet on big rise in yields
  • AIG executives’ promises to return bonuses have gone largely unfulfilled
  • Geithner-U.S. job growth unlikely before spring
  • Stanford again seeks bail, Lawyers say he risks ‘breakdown’
  • Moody’s warns of possible sharp sell-off in sovereign debt
  • Rajaratnam Lawyer Opposes Request for Summer Trial on Galleon
  • Buffett Sells Moody’s Shares for Sixth Time After Profit Drop
  • Fortress’s Intrawest Said to Be in Talks on Buyout Loan Payment
  • Microsoft Must Alter Word or Stop Sales, Court Says Read the rest of this entry »
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  • AIG Permitted by Feinberg to Pay $3.3 Million Grant
  • Dubai World Seeks More Time for Debt ‘Standstill’ Agreement
  • Collapsed Lehman pays out big bonuses
  • Raj Rajaratnam, Chiesi Deny Insider Trading Charges
  • Goldman on top in annual tussle for M&A jackpot
  • Fortress Sues Law Firm Over Loss Read the rest of this entry »
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OMG! This is priceless.  Here’s a  video gem excerpt of SAC Capital’s Steven Cohen — with a full head of hair — and his wife Alex, a month into their marriage, as they appeared on the talk show “Christina” in a 1992 segment entitled “He Acts Like Her Husband, Too”.  They discussed how he was still involved with his ex-wife  Patricia (and apparently still sleeping with her some of the time, though that’s not included in the video excerpt).   Sex with the  former Mrs. Cohen ended after he and Alex got engaged.  During his marriage to Patricia, Cohen admitted there were some “financial difficulties”.   Cohen starting SAC Capital in 1992 — the same year as the below footage.   Now his  ex is suing him for guzillions and alleging that he engaged in insider trading.

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  • Fund Boss Made $7 Billion in the Panic
  • Goldman Sachs threatens Spanish move
  • Citigroup ‘Lottery Ticket’ Warrants May Pay U.S. Lowest Return
  • TCW Loses Mutual-Fund Head Redell to Gundlach’s Startup Firm
  • Cosmetic Surgery Tax Out, Tanning Tax In For Sen Health Bill
  • Twitter Is Said to Be Profitable After Making Search Agreements
  • Citadel Broadcasting files bankruptcy protection Read the rest of this entry »
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  • Steven Cohen’s ex-wife dished to FBI
  • Finra Probes Wall Street’s Trade Huddles
  • Last Days of BofA’s Hunt For a CEO: Pay, Politics
  • Banking Panel Backs Bernanke for New Term
  • Discord Behind TARP Exits
  • Pimco’s Gross Boosts Cash to Most Since Lehman Failed
  • Harvard Swaps Are So Toxic Even Summers Won’t Explain
  • Judge sets January 2011 trial for Stanford defendants
  • TCW defections reach 40
  • Bing! Information Designs sues Microsoft for trademark Read the rest of this entry »
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  • Bank of America names Brian Moynihan as new CEO
  • U.S. Delays Sale of Citigroup Stake as Shares Sell at Discount
  • Bernanke confirmation seen passing first hurdle
  • Meredith Whitney Cuts Goldman Sachs, Morgan Stanley Estimates
  • Lehman to pay $50m in bonuses
  • U.S. says Credit Suisse schemed to evade sanctions
  • SEC tightens rules on investment advisers, corporate transparency
  • Tiger Woods Dubai Says It’s Committed to Golf Course Read the rest of this entry »
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  • As Goldman Thrives, Some Say an Ethos has Faded
  • An Unwelcome Spotlight Falls on SAC Capital
  • Person of the Year 2009: Ben Bernanke
  • Citigroup Says Abu Dhabi Seeks to End Share Purchase
  • Citi: Abu Dhabi Investment Authority Claim Without Merit
  • A Tax Break for Citigroup With Payback of Bailout
  • Fed May Raise U.S. Economic Assessment, Affirm Near-Zero Rates
  • Rajaratnam, Chiesi Indicted for Conspiracy, Fraud
  • Credit Suisse to Pay U.S. $536 Million in Iran Probe Read the rest of this entry »
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  • Bank of America Said to Be Likely to Pick Insider CEO
  • Goldman faces lawsuit over anticipated bonuses
  • Citigroup, Wells Fargo to repay bailouts
  • Wells Fargo to Sell $10.4 Billion in Stock, Repay U.S. Funds
  • Diamond polishes tax flap
  • Hedge-funder Rajaratnam demands lower bail in insider-trading case
  • Citigroup’s Exit From Bailout Clouded by Citi Holdings Assets
  • Senators May Omit Health ‘Public Option,’ Medicare Expansion
  • Abu Dhabi May Demand More Power for $10 Billion Dubai Lifeline
  • AIG confident of repaying aid
  • AIG Chief: Key Staff Suffer Financially Read the rest of this entry »
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  • Citigroup to Repay $20 Billion of Government Bailout
  • Press Release: Citigroup, U.S. Government and Regulators Agree to TARP Repayment
  • Dubai Gets $10B From Abu Dhabi; To Pay Nakheel Bond
  • Merrill Alumnus to Lead a Unit of Morgan Stanley
  • James Gorman’s Memo to Morgan Stanley Employees
  • Pay Worries Slow BofA Search
  • Paul Samuelson, Nobel Economics Laureate, Author, Dies at 94 Read the rest of this entry »
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  • Bernie Madoff, the $19B Con, Makes New Friends Behind Bars
  • Buyout Pioneer Kravis Aims to Remake KKR Like Buffett
  • Goldman Sachs Bars Cash Bonus for Top Officers
  • Goldman Sachs Stock Bonus Plan to Defer Compensation Expense
  • UK: Revenue to clarify bonus rules
  • UK: Lawyers search for loopholes in supertax
  • Moody’s Analyst: No Threat To US, UK Triple-A Ratings Now
  • Ex-UBS Banker, Swiss Lawyer Declared U.S. Fugitives Read the rest of this entry »
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  • Firms Face New Curbs on Pay
  • Top bankers’ bonus rate to top 100%
  • ‘What banker wants to be in the UK?’
  • City tells Darling: your super-tax is pushing us out of Britain
  • Darling Forces U.K. Banks to Swallow ‘Poison Pill’ of Bonus Tax
  • Citi Is Eager to Pay Back Bailout Aid
  • BofA Repays $45 Billion TARP Funds
  • Cioffi’s Lawyer Says SEC ‘Not Likely’ to Settle Suit Read the rest of this entry »
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  • Geithner Said to Be Seeking TARP Extension Until Next October
  • Greece Finance Minister Says No Risk of Default
  • Jackson’s (W)Hole
  • Morgan Stanley reshuffles to take on Goldman
  • Morgan Stanley Ousts Petrick as Trading Chief, Promotes Porat
  • Nomura to wind down Lehman fixed bonuses
  • Apollo Investment plans to sell 10 million shares
  • Barclays Says Lehman Brokerage Sale Gave It No ‘Secret’ Gain
  • AIG General Counsel Kelly May Depart After Protesting Pay Limit
  • Judge Approves CIT Group’s Restructuring Read the rest of this entry »
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  • Barclays’ Diamond Criticizes Bonus Tax, Sees Regulator Missteps
  • Feinberg Said to Lift $500,000 Salary Limit for AIG Executives
  • Morgan Stanley Shuffles Executive Suite
  • SEC probing high-frequency strategies, co-location
  • Banks, U.S. Spar Over TARP Repayment
  • Bank of America Executive Under Scrutiny
  • Dubai World Met Six Creditors Yesterday on Debt, Banker Says
  • Dubai’s Debt Problems May Swell, Morgan Stanley Says
  • Debt Raters Avoid Overhaul After Crisis
  • Galleon Insider-Trading Case Delayed for a Month Read the rest of this entry »
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  • Darling lines up assault on bonuses
  • Pre-Budget Report: Darling plans windfall tax on bank bonuses
  • Banks criticise plans for windfall tax on bonuses
  • Estimated TARP Cost Is Cut by $200 Billion
  • Citigroup in race to repay bail-out funds
  • Dimon Guesses Right on Warrant Pricing
  • Kuwait sells Citigroup stake for $4.1 billion
  • Fresh Pay Skirmish Erupts at AIG Read the rest of this entry »
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  • Goldman bonuses to be in shares amid effort to quell public anger
  • BofA sells $19.3 billion of securities for TARP repay
  • Bank of America’s $19.3 Billion Is Biggest U.S. Sale Since 2000
  • Bernanke May Get Second Term at Fed Shorn of Bank Supervision
  • Citigroup Said to Need Treasury Stake Sale Before TARP Payment
  • Citigroup Stands Alone
  • Rajaratnam Investigated Decade Ago
  • Geithner says need to cut budget deficit
  • Wall Street Transaction Tax Proposed by Democrats Read the rest of this entry »
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  • Goldman Takes Offensive on Pay
  • Lewis and TARP
  • Bernanke confirmation hits new hurdle
  • Barclays Said to Plan Salary Increases, Lower Bonuses
  • NY Fed’s Sack: Larger Fed Balance Sheet Does Have More Risk
  • Stanford Offshore Investors Suspected of Cheating IRS on Taxes
  • Comcast Gains Majority Stake in NBC With GE Venture
  • GM’s CEO Search Won’t Be Easy Ride
  • Pay Limit May Hinder Search for a G.M. Chief Read the rest of this entry »
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Screw the pay czar!:  Bank of America is finally getting the  albatross known as TARP off of their back.  They’re planning to pay off $45 billion in short order. Bankers rejoice!

“We appreciate the critical role that the U.S. government played last fall in helping to stabilize financial markets, and we are pleased to be able to fully repay the investment, with interest,” said Kenneth D. Lewis, chief executive officer and president. “As America’s largest bank, we have a responsibility to make good on the taxpayers’ investment, and our record shows that we have been able to fulfill that commitment while continuing to lend. We believe that this is good news, not only for the U.S. taxpayer and our company, but for the country as it is a milestone indicating that public policy has succeeded in helping our industry and the economy begin to recover. Read the rest of this entry »

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  • BofA Breakup Is New Snag in CEO Hunt
  • Bernanke to defend his record and the Fed’s
  • Bernanke Has Support of Majority of Senators on Banking Panel
  • SEC Steps Up Insider-Trading Probes
  • U.S. Taxpayers May Reap $3.17 Billion in TARP Warrant Auctions
  • GM fires CEO Henderson. The board wants an outsider.
  • Rothstein Charged in Ponzi Scheme
  • Wells Fargo to shut 122 branches in state
  • Merrill Sued by Client in Hong Kong Over $13 Million in Losses Read the rest of this entry »
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  • Arming Goldman With Pistols Against Public: Alice Schroeder
  • Companies say more calling in sick
  • COBRA subsidies begin expiring for the unemployed Read the rest of this entry »
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