- Bloomberg Xs & O
- Immelt Disagrees With Paulson’s Memory of September ’08 Talks
- Kissel’s Murder Conviction Overturned by Hong Kong High Court Share Business Exchange
Bloomberg Xs & O – NY Post
Bloomberg News ran excerpts from a forthcoming Bloomberg BusinessWeek story under the headline: “Obama doesn’t begrudge bonuses for Blankfein, Dimon.”The White House went so far as to release a transcript of the Oval Office interview to bolster their claim that Obama’s statements were taken out of context and that his stance has not changed.The BusinessWeek story quotes Obama as saying: “I know both those guys [Blankfein and Dimon]; they are savvy businessmen. I, like most of the American people, don’t begrudge people success or wealth. That is part of the free-market system.”But according to the transcript, Obama followed that statement with: “I do think that the compensation packages that we’ve seen over the last decade at least have not matched up always to performance.”
Paulson’s new book “On the Brink: Inside the Race to Stop the Collapse of the Global Financial System,” says he and Immelt discussed GE’s difficulty in selling commercial paper during a phone call on Sept. 8, 2008, and in person about 6 p.m. on Sept. 15, the day Lehman Brothers Holdings Inc. filed for bankruptcy.“Now here was Jeff telling me that GE was finding it very difficult to sell its commercial paper for any term longer than overnight,” Paulson, whose book relies in part on memory, writes of the Sept. 15 conversation. “The fact that the single- biggest issuer in this $1.8 trillion market was having trouble with its funding was startling.”Immelt said he “does not believe they discussed having problems with GE’s” commercial paper in the conversations, GE spokeswoman Anne Eisele said. The company’s public disclosures during the period, in which the “markets were under great stress,” were accurate, she said…..
Hong Kong’s top court overturned Nancy Kissel’s conviction for murdering her Merrill Lynch & Co. banker husband after finding material errors in her 2005 trial.
Kissel, accused of bludgeoning her husband Robert to death in 2003 after giving him a drugged milkshake, will be retried after the Court of Final Appeal ruled today that hearsay evidence on her intent to kill and cross-examination on bail material may have prejudiced the jury which convicted her……
Tags: bailout, Barack Obama, Bonuses, Compensation, GE, Goldman Sachs, Henry Paulson, Jamie Dimon, JP Morgan, Lloyd Blankfein, Murders, Robert Kissel, Scandal, U.S.. Treasury
