Politics | Wall Street Folly

Archive for the ‘Politics’ Category

EU ministers meet on Greece but gave little detail of plans; Key points of Dodd’s financial regulation; EU finance ministers: no hedge fund financial rules deal; Toyota: Caliornia Prius incident can’t be replicated

Posted by WSF On March - 16 - 2010

Moody’s warns nations to cut spending or risk AAA ratings
EU ministers discuss standby plans for Greece
6 key points of the financial regulation legislation
EU Finance Ministers Fail to Reach Deal on Hedge-Fund Rules
Toyota: Analysis Doesn’t Match Calif Prius Incident Read the rest of this entry »

Share this!:

Tags: Autos, EU, Financial Regulation, Greece, Hedge funds, Politics, recalls, Sovereign debt, Toyota

Autos, Hedge funds, Politics

Citigroup’s Pandit blowing a kiss to taxpayers as he goes to DC for more testimony; Obama still hoping Volcker Rule gets passed; JP Morgan beat Goldman in the ‘09 battle of investment banking fees; Ethically challenged Rangel finally steps down as committee head (now he just needs to get the boot from congress); Geithner adviser plans exit; Nissan the latest to recall cars

Posted by WSF On March - 4 - 2010

Citigroup’s Pandit Said to Plan to Thank Taxpayers for Bailout
Pandit Returns to Capitol’s Hot Seat
Obama Sends ‘Volcker Rule’ Proposal on Bank Trading to Congress
JPMorgan Tops Goldman in Investment Banking as Fees Swell 13%
Scandal-stained Rangel quits post
Geithner Adviser Sachs Plans to Resign as Banking Crisis Wanes
Nissan to Recall Over 500,000 Cars Read the rest of this entry »

Share this!:

Tags: Autos, bailout, Barack Obama, Charlie Rangel, Citigroup, Ethlly challenged politicians, Fees, Goldman Sachs, JP Morgan, Nissan, Politics, recalls, TARP, Tim Geithner, U.S.. Treasury, Vikram Pandit

Autos, Barack Obama, Citigroup, Fees, Goldman Sachs, JPM, JPM Chase, Politics, Tim Geithner, Vikram Pandit, investment banking

Warren Buffett’s annual tome out tomorrow; Hedge funds balking at reducing the 2/20 fee model; Like Barclays, Nomura is banking from it’s Lehman asset buy; Charlie Rangel guilty of some House rules violations per Ethics Committee, but what about those tax charges?

Posted by WSF On February - 26 - 2010

Buffett letter has big audience as Berkshire bulges
Hedge funds shy away from lowering fees
Lehman swoop reaps rewards for Nomura
Charles Rangel accepted Caribbean trips against House laws, Ethics Committee rules Read the rest of this entry »

Share this!:

Tags: Berkshire Hathaway, Charlie Rangel, Ethically challenged politicians, Hedge funds, Lehman Brothers, Nomura, Politics, Warren Buffett

Hedge funds, Politics, Warren Buffett

So much for Obama’s ‘Volcker Rule’; Citi looking to dump hedge fund business; Hedge fund assets slumped $2.85B in January; UK’s FSA says hedge funds aren’t so risky from leverage perspective; Trump vs Icahn in Atlantic City

Posted by WSF On February - 24 - 2010

‘Volcker Rule’ Stalls in Senate
Citi in Talks to Sell Hedge-Fund Business
Hedge Funds Don’t Pose ‘Destabilizing Risk,’ FSA Says
Hedge-Fund Assets Fell $2.85 Billion in January as Stocks Fell
Trump Argues Name Can’t Be Used By Icahn for Casinos Read the rest of this entry »

Share this!:

Tags: Activists, Atlant City, Barack Obama, Carl Icahn, Casinos, Citigroup, Donald Trump, Hedge funds, Paul Volcker, Politics

Barack Obama, Carl Icahn, Citigroup, Donald Trump, Hedge funds, Politics

Discount rate hike a signal of lower bank profits to come?; New Dodd financial overhaul bill coming next week; Toyota president will testify before congress; AIG scotches plan to sell derivatives portfolio; Allen Sanford wants SEC fraud lawsuit dismissed; Blackstone joining GGP bid?; States face big retiree benefit shortfall

Posted by WSF On February - 19 - 2010

Fed Move May Signal End to Easy Bank Profits
Dodd to Unveil Financial Overhaul Bill Next Week
Toyota’s Chief to Testify to U.S. Congress on Recalls
AIG drops plan to sell derivatives portfolio
Allen Stanford Asks Judge to Dismiss SEC Lawsuit Alleging Fraud
Blackstone Said to Consider Joining Simon’s GGP Bid
States short $1 trillion to fund retiree benefits Read the rest of this entry »

Share this!:

Tags: AIG, Allen Stanford, Autos, Banks, Blackstone Group, Discount rate, Fed, Politics, SEC, Toyota

AIG, Allen Stanford, Autos, Banks, Fed, Politics, SEC

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 »

Share this!:

Tags: Autos, Bank of America, Barclays, Bonuses, Compensation, Currencies, Euro, Fannie Mae / Freddie Mac, Galleon, Greece, Hedge funds, Insider Trading, Politics, Raj Rajaratnam, recalls, SEC, Sovereign debt, Toyota, UBS

Autos, Barclays, Bonuses, Compensation, Hedge funds, Insider Trading, Politics, SEC

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 »

Share this!:

Tags: Andrew Cuomo, Bank of America, Bonuses, CDS, Compensation, Goldman Sachs, Greece, Jamie Dimon, JP Morgan, Ken Lewis, Lloyd Blankfein, Politics, SEC, Sovereign debt

Bank of America, Banks, Bonuses, Compensation, Goldman Sachs, JPM, JPM Chase, Jamie Dimon, Lloyd Blankfein, Politics, Taxes

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 »

Share this!:

Tags: AIG, Bankruptcy, Barack Obama, Berkshire Hathaway, Bonuses, Citigroup, Compensation, Credit Suisse, Mergers, Politics, Taxes, UK, Warren Buffett

AIG, Bankruptcy, Banks, Barack Obama, Bonuses, Citigroup, Compensation, Credit Suisse, Politics, WSF, Warren Buffett

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 »

Share this!:

Tags: AIG, Bank of America, Banks, Barack Obama, Barney Frank, Bonuses, Compensations, Foreclosures, Hedge funds, Politics, Real Estate, SEC, Taxes, Tim Geithner

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 »

Share this!:

Tags: Apple, Barack Obama, Bonuses, CIT, Compensation, Galleon, Google, Hedge funds, Insider Trading, John Thain, Politics, Raj Rajaratnam, SEC, Steve Jobs, Taxes

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

Video: The Daily Show shines the light on Obama’s broken promise that the healthcare debate would be front and center on C-SPAN

Posted by WSF On January - 8 - 2010

The Daily Show With Jon Stewart

Mon – Thurs 11p / 10c

Stealth Care Reform

www.thedailyshow.com

Daily Show
Full Episodes

Political Humor

Health Care Crisis

Share this!:

Tags: Barack Obama, Broken Promises, Healthcare, Jon Stewart, Politics, Politics as Usual, The Daily Show, Videos

Barack Obama, Politics, Videos

Video: Jon Stewart on the Peter Orzag baby daddy sex scandal

Posted by WSF On January - 8 - 2010

The Daily Show With Jon Stewart

Mon – Thurs 11p / 10c

Peter Orszag Sex Scandal

www.thedailyshow.com

Daily Show
Full Episodes

Political Humor

Health Care Crisis

Share this!:

Tags: Jon Stewart, Politics, Scandal, Sex, The Daily Show, Videos

Politics, Scandal, Videos

Kumar may sing for Feds against Raj Rajaratnam; AIG’s departing general counsel getting fat severance (we can hear the protest screams already); Madoff is back in prison after his high blood pressure treatment; Taxpayers now own a majority stake in GMAC; Fannie Mae / Freddie Mac cap lifts pissing off both sides of the aisle; More howls over UK bonus tax; Ex JP Morgan banker / embezzler, living in Buenos Aires and sponging off family, won’t defend himself vs JPM lawsuit

Posted by WSF On December - 31 - 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 »

Share this!:

Tags: AIG, Bailouts, Bernie Madoff, Fannie Mae / Freddie Mac, Galleon, GMAC, Hedge funds, Insider Trading, JP Morgan, lawsuits, Raj Rajaratnam, TARP

Bernie Madoff, Hedge funds, Insider Trading, JPM Chase, Politics

GMAC may be getting another $3M bailout package; WSJ Part 2: How the Feds snared Raj Rajaratnam; If you’re gonna die, can you please wait a few days until 2010?; The Fannie Mae / Freddie Mac folly continues; Lehman cash held hostage may soon be released; Cell phone hackings could be on the rise now that the code’s been cracked; RIP Tavern on the Green (which dies on New Year’s eve)

Posted by WSF On December - 30 - 2009

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 »

Share this!:

Tags: Bailouts, Cell Phones, Fannie Mae / Freddie Mac, Food, Galleon, GMAC, Lehman Brothers, Politics, Raj Rajaratnam, Restaurants, RIP, TARP, Taxes

Hedge funds, Politics, Taxes

As expected the Senate passes its ill conceived health care bill; Goldman’s Lloyd Blankfein is Financial Times Person of the Year; Dimon, Blankfein and Mack heading to DC in Jaunary for the next round of Congressional inquisitions; Barclays Bob Diamond sells 1.8M shares for £5M; Senate votes to up debt ceiling; Morgan Stanley mints 212 new managing directors; Grassley probing Citi tax breaks; Buffett wants ResCap?; “Squawk Box” broker says U.S. hid evidence; Alexis Glick is leaving FBN

Posted by WSF On December - 24 - 2009

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 »

Share this!:

Tags: Alexis Glick, Bad Legislation, Barack Obama, Barclays, Bob Diamond, Citigroup, FBN, Goldman Sachs, Health Care, Jamie Dimon, John Mack, JP Morgan, Lloyd Blankfein, Morgan Stanley, National Debt, Politics, Warren Buffett

Barclays, Citigroup, Goldman Sachs, JPM Chase, Jamie Dimon, John Mack, Lloyd Blankfein, Morgan Stanley, Politics, Subprime mortgages

Dave Tepper’s Appaloosa banked $7B large this year!; Goldman threatens to move up to 20% of London staff to Spain over bonus tax; With the stock in the dumps, Citicorp warrants unsurprisingly may yield disappointing return; TCW loses another senior exec to Gundlach’s new firm; Attention Angelo Mozilo: tanning will be more expensive under the new health bill (but facelifts are safe); Twitter starting to make $

Posted by WSF On December - 21 - 2009

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 »

Share this!:

Tags: Appaloosa, Bonuses, Citigroup, Compensation, Dave Tepper, Goldman Sachs, Hedge funds, Revolving Door, Taxes, Twitter

Credit Crunch, Goldman Sachs, Hedge funds, Politics, Revolving Door, Videos

White smoke! B of A has FINALLY anointed a Ken Lewis successor — from within; Secondary prices at only $3.15/share, below what Treasury paid — Will Vikram get the boot after Citigroup’s stock offer gets poor reception?; Meredith Whitney cuts Goldman, Morgan Stanley estimates; Lehman Brothers gets ok to pay $50 million in bonuses; Dubai Properties staying the course with Tiger Woods

Posted by WSF On December - 17 - 2009

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 »

Share this!:

Tags: Bank of America, Ben Bernanke, Citigroup, Fed, Goldman Sachs, Lehman Brothers, Meredith Whitney, Morgan Stanley, SEC, Tiger Woods, Vikram Pandit

Bank of America, Bonuses, Citigroup, Credit Suisse, Goldman Sachs, Meredith Whitney, Politics

Has Goldman sold its soul for profits?; SAC Capital uncomfortably in the spotlight; Ben Bernanke is Time Magazine’s Person of the Year; Citigroup gets a sure to be controversial $38B tax benefit, Abu Dhabi, claiming “fraudulent misrepresentations” wants out of its Citi investment, Citi cries bullshit; No change in rates expected from Fed; Rajaratnam indicted, proclaims innocence; France jumps on the bonus tax band wagon; Microsoft settles with EU

Posted by WSF On December - 16 - 2009

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 »

Share this!:

Tags: Abu Dhabi, Ben Bernanke, Citigroup, Credit Suisse, Fed, Galleon, GM, Goldman Sachs, Microsoft, Politics, Raj Rajaratnam, SAC Capital, Sovereign wealth funds, Steven A. Cohen, Taxes

Ben Bernanke, Fed, Goldman Sachs, Hedge funds, Legal, Lloyd Blankfein, Politics, Steven A. Cohen

Goldman talking to big shareholders about pay; Lewis makes good on his promise to pay off TARP before he exits; Sanders throws up roadblock to Bernanke confirmation; Barclays planning salary increases; NY Fed’s Sack on Fed balance sheet risk; IRS on the hunt for Stanford investor tax cheats; GM may be stuck with Whitacre as chief for a while; Golf swinger Tiger Woods / Elin pre-nup mulligan?

Posted by WSF On December - 3 - 2009

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 »

Share this!:

Tags: Allen Stanford, Autos, Bank of America, Barclays, Ben Bernanke, Bonuses, Compensation, Fed, GM, Goldman Sachs, Ken Lewis, Politics, Prenups, Scandal, Sex, Tiger Woods

Bank of America, Barclays, Ben Bernanke, Compensation, Fed, Goldman Sachs, Ken Lewis, Politics

Take your TARP and shove it: Bank of America’s paying it off

Posted by WSF On December - 2 - 2009

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 »

Share this!:

Tags: Bank of America, Ken Lewis, Merrill Lynch, Pay czar, TARP

Bank of America, Ken Lewis, Politics

Obama’s AIG headache; Pinpointing when Madoff’s scam started key to loss calculations; Madoff trustee’s big fee bill; Hedge funds, others trapped in Lehman closer to getting $$$; Fed said to be looking for deTARPing plans; Apollo still looking for NYSE listing; Nomura fined over mismarking; If Murdoch papers, others bolt to Bing, will Google take a hit?; GM return plan “a scam”?

Posted by WSF On November - 24 - 2009

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 »