Wall Street Folly

Archive for the ‘Compensation’ Category

John Mack thinks investment bankers get paid too much; Name of shame: Mark Madoff’s wife and kids are changing their last names to “Morgan”; Appaloosa getting active in Stuyvesant Town

Posted by WSF On February - 25 - 2010
  • Morgan Stanley’s Mack Says Investment Banker Pay Still Too High
  • Madoff Daughter-in-Law Seeks to Change Name After Death Threats
  • Appaloosa Seeks to Join Lawsuit Over Stuyvesant Town Read the rest of this entry »
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Bernie Madoff, Bonuses, Compensation, John Mack, Morgan Stanley, Real Estate

702 banks now on FDIC endangered list; SEC is voting today on short selling changes; Credit Suisse bankers who opted for bonuses in toxic securities are banking!; Toyota big boss on congressional hot seat today; GM’s Hummer deal with China said to be in trouble; EU initiating a Google antitrust probe

Posted by WSF On February - 24 - 2010
  • At F.D.I.C. , Bracing for a Wave of Failures
  • SEC Disappointing Goldman Sachs Amid Vote on Short-Sale Curb
  • Bon Appétit: ‘Toxic’ Bonus Yields 72% at Credit Suisse
  • Japan to probe Toyota acceleration complaints
  • ‘Consumer Reports’ still likes Prius as top eco-friendly car
  • A Tough Test Before Congress for Toyota’s Chief
  • EU Opens Google Antitrust Inquiry
  • GM Said to Not Win China’s Approval for Hummer Deal Read the rest of this entry »
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Autos, Banks, Bonuses, Compensation, Credit Suisse, Goldman Sachs, SEC, Short selling

“Obama doesn’t begrudge bonuses” to Lloyd and Jamie? Not so fast — he was taken out of context; Jeffrey Immelt has a different recollection of events than Hank Paulson; Milkshake murderess’ conviction overturned

Posted by WSF On February - 11 - 2010
  • 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 Read the rest of this entry »
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Barack Obama, Bonuses, Compensation, Goldman Sachs, Henry Paulson, JPM Chase, Jamie Dimon, Lloyd Blankfein, Scandal

EU deal on Greece set, but no details yet; Goldman cuts Euro target,This year Biggest Bonuses went to Wall Street lesser knowns; AIG’s new compensation plan; Credit Suisse bonuses 60% cash; As they’ve been saying for awhile, commercial real estate is the next shoe to drop and small banks could be in trouble; CIT’s TARP debt officially wiped out; Foreclosures still coming big time

Posted by WSF On February - 11 - 2010
  • EU Reaches Greek Accord, Will Apply Strict Rules, Officials Say
  • Goldman Cuts Euro Target on ‘Most Threatening’ Crisis
  • AIG Pay Plan: Rank and Rile
  • Wall St.’s Biggest Bonuses Go to Not-So-Big Names
  • Bernanke Lays More Groundwork for Exit Without Giving Timetable
  • Credit Suisse says 2009 bonuses average $135,000
  • TARP Panel: Small Banks Are Facing Loan Woes Read the rest of this entry »
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Barack Obama, Ben Bernanke, Bonuses, Compensation, Credit Suisse, Real Estate

Bailout for Greece said to be on the way but not done deal yet; More charges for Raj Rajaratnam, and he’s ordered to turn over wire tap tapes; Soros says Greece will do whatever they have to to stay euro member; Morgan Stanley has been hearing from large shareholders on pay issue; UBS clawing back some bonuses, and they’re facing more tax evasion allegations; Toyota and now Honda recalls

Posted by WSF On February - 10 - 2010
  • Germany Weighs Greek Support in Pre-Summit Switch
  • Judge Orders Galleon Defendants to Release Tapes
  • Galleon’s Raj Rajaratnam Faces More Charges in New Indictment
  • Soros Is ‘Confident’ Greece Will Stay in Euro Region
  • Morgan Stanley Gets Earful on Pay
  • UBS: Investigating Tax Evasion Allegations From German Client Read the rest of this entry »
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Bonuses, Compensation, George Soros, Hedge funds, Insider Trading, Morgan Stanley, Taxes, UBS

John Paulson Gold fund not so tempting to investors?; Hank Paulson urges bank restraint on pay; Temasek may be setting up a hedge fund; Guy hands says private equity will still be tough this year

Posted by WSF On February - 10 - 2010
  • Midas Touch Lost? Paulson Hits Hurdles in Gold Fund
  • Paulson, Once a Top Earner, Tells Buffett Bankers Make Too Much
  • Temasek May Set Up Hedge Fund, AsianInvestor Reports
  • Terra Firma’s Guy Hands Predicts Low Buyout Volumes This Year Read the rest of this entry »
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Bonuses, Compensation, Hedge funds, Henry Paulson, Paulson & Co, Private equity, Sovereign wealth funds

Danielle Chiesi speaks, claims there’s no chance she’ll do time and says “it’s an honor and privilege” to stand with Rajaratnam; Hedge funds in a Euro shorting spree; Would Greece asking for help send the ‘wrong signal’?; Barclays CEO disses the Volcker Plan; Judge questioning B of A SEC settlement (again), Price at peril?; UBS ups bonus pool by 34% (as its clients pull more money); Mired in Fannie and Freddie; Toyota recalling 437K hybrids

Posted by WSF On February - 9 - 2010
  • Confident Chiesi breaks silence
  • Galleon Tipper Goel Pleads Guilty, Says Rajaratnam Got Secrets
  • Traders in record bet against the euro
  • Greece Says Call for Aid Would Send ‘Worst Signal’
  • Barclays CEO Says U.S. Plans ‘Bad’ for Global Rules
  • Judge Questions Bank of America’s New Deal With S.E.C.
  • BofA’s Price may need to be sidelined
  • UBS Increases Bonus Pool 34% to 2.9 Billion Francs Read the rest of this entry »
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Autos, Barclays, Bonuses, Compensation, Hedge funds, Insider Trading, Politics, SEC

It’s all Goldman’s fault: Front page NYT article essentially blames them for AIG mess (as if no firms play hardball in negotiations….); Never say never: Geithner says U.S. will never lose AAA; John Thain is back now heading CIT; Blankfein gets $9M in stock; Toyota recall fears spreading to Lexus; Argentina debt swap?; Hell freezes over at Google with Super Bowl ad; Health summit to be on TV

Posted by WSF On February - 8 - 2010
  • Testy Conflict With Goldman Helped Push A.I.G. to Edge
  • Geithner Says U.S. Will ‘Never’ Lose Aaa Debt Rating
  • Goldman Bows on CEO Pay
  • Merrill’s Ex-Chief Is Back, Atop CIT
  • Obama to hold televised health summit
  • Argentina Will Swap Debt in March, Pagina/12 Says
  • Toyota Prius global recall fears spread to luxury Lexus brand Read the rest of this entry »
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AIG, Autos, Bonuses, Compensation, Goldman Sachs, Lloyd Blankfein, Tim Geithner

Still awaiting Lloyd Blankfein’s number, Jamie Dimon got $10M in shares; You’d think he was running for office or something: Cuomo charges BofA and Lewis even as SEC settles; Fanning populist fires, beseiged Senators propose big Bailout Banks bonus tax; Greek CDS soars; SEC charges, settles with State Street

Posted by WSF On February - 5 - 2010
  • Dimon receives $10m shares
  • Cuomo charges BofA, ex-CEO with fraud; SEC settles
  • Senators Propose 50% Bonus Tax on Banks That Got Bailout Funds
  • Cost of Insuring Greek Debt Soars
  • SEC Charges State Street Over Subprime Mortgage Investments
  • Japan Transport Min: Toyota Mulling Recall Prius Recall
  • Euro-Zone Debt Worries Hit Stocks And Euro Again Read the rest of this entry »
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Bank of America, Banks, Bonuses, Compensation, Goldman Sachs, JPM Chase, Jamie Dimon, Lloyd Blankfein, Politics, Taxes

$100M Bonus for Goldman’s Blankfein? Can $GS really be that tone deaf?; Morgan Stanley gonna hire lots of traders!; This year bankers were pariahs at Davos; Obama unveils new budget with record deficit, his new jobs bill might cost $100B; Citigroup selling Private Equity unit?; Pandit pins faith on growth in Europe; TARP’s Barofsky proes up 41% last Q

Posted by WSF On February - 1 - 2010
  • Goldman Sachs and the $100 million question
  • M Stanley to recruit hundreds of traders
  • Obama 2010 budget projects new record for deficit
  • Obama’s Jobs Bill May Cost $100 Billion, Spokesman Gibbs Says
  • Bankers at Davos Face Global Ire
  • Gorman aims to strike a balance
  • Citigroup Said to Plan Sale of $10 Billion Private-Equity Unit
  • Pandit puts faith in overseas growth strategy
  • TARP’s Barofsky Increased Probes 41 Percent in Fourth Quarter Read the rest of this entry »
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Barack Obama, Bonuses, Citigroup, Compensation, Goldman Sachs, Lloyd Blankfein, Morgan Stanley

Jeremy Grantham is bearish again; George Soros says Obama’s bank taxes and curbs are “premature”; Carlyle’s Rubenstein sees emerging markets as the best investment area, with U.S. “pretty attractive”; Rate of buying CDS on sovereign debt accelerating; Rules on Wall Street clawbacks are getting tougher

Posted by WSF On January - 27 - 2010
  • A Bear Reawakens After a Bullish Run
  • Soros Calls Obama Bank Plan ‘Premature’
  • Carlyle’s Rubenstein Says Emerging Markets Best Place to Invest
  • Swaps Trading Surges as National Deficits Rise: Credit Markets
  • Wall Street Toughens Rules on Clawbacks Read the rest of this entry »
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Bonuses, CDS, Carlyle, Compensation, George Soros, Hedge funds

Goldman’s stock battered by Obama anti-bank plans just in time to benefit stock bonus pricing; Four hedge funds sue Porsche over that nasty VW short squeeze; Philippe Jabre shutting his flagship fund to new investment

Posted by WSF On January - 26 - 2010
  • Goldman Sachs Bonuses May Get Boost as Obama Plan Hammers Stock
  • Funds sue Porsche over VW debacle
  • Jabre to ‘hard close’ its flagship hedge fund Read the rest of this entry »
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Barack Obama, Bonuses, Compensation, Goldman Sachs, Hedge funds, Lawsuit

Bernanke confirmation still a squeaker but White House is confident; Davos bankers vs Obama; UK’s Darling opposes Obama’s bank breakup plan; Goldman said to be limiting UK partners compensation; Barclays deferring top bonuses; More NY Fed / AIG controversy; Wal-Mart cutting 11K Sam’s club jobs, Tishman giving up on Stuyvesant Town; Avatar closing in on top grossing film

Posted by WSF On January - 25 - 2010
  • White House Is Confident Bernanke Will Be Confirmed
  • Davos bankers to lobby against Obama reforms
  • Darling reveals frustration over Obama bank plan
  • Goldman Said to Limit London Partners’ Compensation
  • Barclays to defer all top bonuses
  • AIG Analysis Reveals Bank Discussions
  • Wal-Mart to cut 11,200 jobs at Sam’s Club stores
  • Tishman Venture Gives Up Stuyvesant Project
  • Cameron’s ‘Avatar’ Becomes 2nd-Highest Grossing Movie Read the rest of this entry »
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AIG, Barack Obama, Barclays, Ben Bernanke, Bonuses, Compensation, Economy, Fed, Goldman Sachs, Real Estate, Revolving Door

Massachusetts Senate vote upset in the making? Turnout is key; Bonuses for Credit Suisse Senior UK managers getting hit by UK tax; Banks divided over new Obama tax, legal fight possible; Citigroup Earnings fail to impress; AIG looking to lower bonus payments; Berkshire Hathaway Baby B’s may soon more affordable; Warren Buffett’s Berkshire stake now below 25%; Kraft and Cadbury in a now friendly deal; Conan O’Brien said to be nearing $40M deal to leave, zip lip

Posted by WSF On January - 19 - 2010
  • Turnout Is Key in Massachusetts Battle
  • Credit Suisse Cuts Bonus Pool to Spread Costs From U.K. Taxes
  • Wall Street May Seek to Sway Congress by Hiring Top Lawyer
  • US investment banks divided over levy
  • Citigroup Reports 2009 Full Year Managed Revenues(1) of $91.1 Billion and Expenses of $47.8 Billion
  • AIG Tries to Defuse Bonus Pay Showdown
  • Berkshire Nears Smaller Baby Bs
  • Buffett Cuts Berkshire Stake Below 25% on Rail Deal, Charity Read the rest of this entry »
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AIG, Bankruptcy, Banks, Barack Obama, Bonuses, Citigroup, Compensation, Credit Suisse, Politics, WSF, Warren Buffett

AIG: Geithner on the testimony hot seat on Jan 27; Crisis panel calling Greenspan and Cox to testify; Citigroup cash bonuses to be capped at less than $100K?; JP Morgan earnings beat, but revenues light; Sheila Bair throws Fed under the bus; More fury over Obama’s new banker tax

Posted by WSF On January - 15 - 2010
  • Geithner to Testify Jan. 27 About AIG E-Mail Exchange
  • U.S. financial crisis panel to call Greenspan, Cox
  • Citigroup plans to cap cash bonuses
  • JPMorgan fourth-quarter profits soar
  • FDIC blames Federal Reserve for severity of financial crisis
  • Bankers’ fury at levy on US subsidiaries
  • Dodd Said to Weigh Dropping Consumer Agency From Overhaul Plan Read the rest of this entry »
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AIG, Banks, Barack Obama, Bonuses, Citigroup, Compensation, Economy, Fed, JPM Chase, Jamie Dimon, Taxes, Tim Geithner, U.S. Treasury

Obama’s new bank tax unveiled today; Barney Frank continuing assault on Wall Street pay; Geithner’s AIG phone records demanded by House committee; Dudley defends AIG bailout; Banker testimony post mortem; Bank of America’s bonuses getting much shorter on cash; More hedge funders winding up getting jobs at the SEC; Foreclosures at a record and still expected to rise

Posted by WSF On January - 14 - 2010
  • Obama’s Bank Tax Seeks $90 Billion to Repay Bailout
  • US Rep Frank: Determined To Look Into Wall Street Pay
  • Geithner faces demand for AIG phone records
  • Fed’s Dudley Defends AIG Bailout
  • Top bankers forced on to the defensive
  • Wall Street bankers on defensive in grilling over financial crisis
  • Panel Rips Wall Street Titans
  • Bank of America May Trim Cash Part of Bonuses to 15%
  • Hedge funds seen losing staff to the SEC: survey Read the rest of this entry »
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AIG, Bank of America, Barack Obama, Bonuses, Compensation, Goldman Sachs, Hedge funds, JPM Chase, Jamie Dimon, John Mack, Lloyd Blankfein, Morgan Stanley, Politics, Revolving Door, SEC, Taxes, Tim Geithner

Obama will detail new bank tax plan on Thursday (fees that the banks will no doubt pass on); Get the popcorn ready: Bankers all set to get smacked around today as they testify before the latest congressional inquisition panel; Galleon tipper uncloaked; Rajaratnam slams the “cherry picked” wiretapped recordings; High frequency trading in the SEC spotlight; Thain talking to CIT; Google could exit China; Apple’s Steve Jobs still a bargain at $1 / year

Posted by WSF On January - 13 - 2010
  • Obama To Unveil Bank Fee Proposal Thursday – Official
  • Wall Street labels levy plan ‘absurd’
  • Financial crisis panel seeks bankers’ testimony
  • ‘Tipper X’ Hangs Over Galleon
  • Galleon founder slams wiretaps
  • Citigroup Bonus May Trump Goldman’s
  • SEC Vote May Show Scope of High-Frequency Trading Regulations Read the rest of this entry »
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Barack Obama, Bonuses, China, Compensation, Goldman Sachs, Google, Hedge funds, Insider Trading, JPM Chase, Jamie Dimon, Lloyd Blankfein, Morgan Stanley, Politics, SEC, Steve Jobs, Taxes

New bailout fee? Obama administration looking for more ways to stick it to banking industry; Jamie Dimon sick and tired of banker “vilification”; B of A in settlement talks with Cuomo; SEC upping the ante against them with more charges; Bunning wants NY Fed AIG probe; Pandit reshuffles the deck chairs again at Citigroup; Fed made $45B in ‘09; No big surprise, but Pang committed suicide per ruling; AIG looking to hire ex Lehman lawyer to fill general counsel slot abandoned over pay flap; B of A exec demotion

Posted by WSF On January - 12 - 2010
  • Banks Brace for Bailout Fee
  • JPMorgan’s Dimon defends bank’s pay policy
  • SEC broadens charges on Bank of America
  • Bank Is in Talks to Settle State Claims Over Merrill
  • N.Y.’s Cuomo Seeks Bonus Data From Bailed-Out Banks
  • SEC Should Probe NY Fed Staff Over AIG, Senator Says
  • Pandit Shakes Up Citi’s Upper Ranks
  • Federal Reserve earned $45 billion in 2009 Read the rest of this entry »
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AIG, Bank of America, Barack Obama, Bonuses, Citigroup, Compensation, JPM Chase, Jamie Dimon, SEC, Taxes, Vikram Pandit

Geithner’s NY Fed told AIG to zip its lip on CDS payouts to banks; Possible carried interest tax on hedge funds, private equity firms back in lawmakers’ sights; Now deTARPED Citi faces lawsuits from ex-execs with frozen severance packages; Blankfein, Dimon won’t go to Basel; Kumar going to court today in Galleon insider trading case; Warren Buffett in antitrust hot water?; FDIC looking to tie insurance fees to risk of pay packages; State tax revenues drop to lowest since ‘63; GM CEO is predicting a 2010 profit!

Posted by WSF On January - 7 - 2010
  • Geithner’s New York Fed Told AIG to Limit Swaps Disclosure
  • Congress Has Hedge Funds, Buyout Firms in Tax Sights
  • Citi hit by legal action in bankers’ pay battle
  • Top banks invited to Basel risk talks
  • Kumar set to appear in court in Galleon case
  • Buffett’s Mars bar
  • FDIC Weighs Tying Fees to Banks’ Pay Read the rest of this entry »
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AIG, Citigroup, Compensation, Fees, GM, Goldman Sachs, Hedge funds, Insider Trading, Jamie Dimon, Lawsuit, Lloyd Blankfein

Averting defeat, Chris Dodd is stepping aside and won’t run; Rajaratnam facing new charges; TCW bailing on PPIP; Asness’ AQR launching another mutual fund; Goldman takes a piece of Tiger cub fund; Citigroup’s Havens $9M payday; Ex-UBS banker wants prosecutors probed; Distressed real estate getting nibbles from Blackstone, others; Lehman claims plan facing resistance; Iceland says it won’t default

Posted by WSF On January - 6 - 2010
  • Senator Dodd Said to Not Seek Re-election in November
  • Galleon founder faces more US charges
  • TCW Pulling Out of PPIP
  • Shumway Capital Sells Stake to Goldman Sachs’s Petershill Fund
  • Citi’s Havens Got $9 Million for ‘09
  • Hedge Fund AQR Goes ‘Mom & Pop’
  • Ex-UBS Banker, Informant Birkenfeld Seeks Probe of Prosecutors
  • Distress Calls Begin to Go Out Read the rest of this entry »
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Citigroup, Compensation, Goldman Sachs, Hedge funds, Insider Trading, Lawsuit, Real Estate, UBS

Way less cash: Morgan Stanley’s overhauling their senior exec pay; Jamie Dimon may bite back over that 50% UK bonus tax; WSJ: The rise of “king of kings” Raj Rajaratnam (Part 2 tomorrow: the fall); Merrill Lynch bouncing back with new UK clients; Barton Biggs and Marc Faber see dollar rise; Goldman gets the biggest slice of ‘09 IPO fees; UK Banker wins age discrimination case

Posted by WSF On December - 29 - 2009
  • 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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Bank of America, Bonuses, Compensation, Goldman Sachs, Hedge funds, JPM Chase, Jamie Dimon, Morgan Stanley

Guy Hands blasts “quick and remarkable” return to bankers’ bonuses as usual behavior; Hedge funds recovered in ‘09; Stanford ties to lawmakers being probed; OneWest, the new banking empire builder and it’s who’s who investor list; Holiday retail sales up 3.6% (but included an extra shopping day); Avatar and the Chipmunks score at the box office

Posted by WSF On December - 28 - 2009
  • 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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Allen Stanford, Bonuses, Compensation, Hedge funds

After Kelly’s shunning, B of A may be forced to go with insider CEO; Goldman sued over bonuses; Wells Fargo is also deTARPing; Barclays’ Diamond tells UK employees not to worry ’bout 50% bonus tax; Rajaratnam tries again for bail reduction; Abu Dhabi may exert its leverage; AIG says they’ll repay loans, Senior management got screwed financially; Buffett sells more Moody’s; Microsoft accused of plagiarism

Posted by WSF On December - 15 - 2009
  • 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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AIG, Bank of America, Barclays, Citigroup, Compensation, Goldman Sachs, Hedge funds

Henry Kravis has Warren Buffett envy; A year later Madoff “is the godfather, the don” behind bars; Goldman cash bonuses will make bottom line look nicer; UK hedge funds not part of supertax; Lawyers scramble to find supertax loopholes; Moody’s says U.S., UK not threatened with downgrades (yet); Ex-UBS banker is a fugitive; Merrill squawk box broker gets probation

Posted by WSF On December - 11 - 2009

  • 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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Bonuses, Compensation, Goldman Sachs, Hedge funds, Legal

More pay caps coming from the U.S. pay czar; Yipes! Between tax on banks and bankers, Brits face total bonus tax of over 100%; Citi desperately wants out of TARP; B of A has officially DeTARPed; Sounds like the SEC isn’t done persecuting Cioffi, Tannin; B of A’s Montag took a newrly $5M piece of their recent stock offer; The ax is falling on 5% of Putnam’s staff

Posted by WSF On December - 10 - 2009

  • 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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Bank of America, Bear Stearns, Bonuses, Citigroup, Compensation, Hedge funds, Revolving Door

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