Wall Street Folly

• TARP Panel Finds Fault With GMAC Bailouts
• Citicorp eyes $20bn profit
• Geithner warns of rift on EU regulation
• Mexico’s Slim becomes ‘world’s richest’ person
• Forbes: The World’s Billionaires
• Court finds former partner of Cazenove guilty on five counts of insider dealing
• Nomura Departures Rise as Former Lehman Bankers Leave Read the rest of this entry »

Tags: Bailouts, Bill Gates, Billionaires, Carlos Slim Helu, Cazenove, Citigroup, GMAC, Insider Trading, Lehman Brothers, Nomura, Revolving Door, TARP, U.S.. Treasury, UK, Vikram Pandit; Tim Geithner, Warren Buffett, Wealth

Tags: Bonuses, CDS, Compensation, Goldman lSachs, Greece, Hedge funds, Merrill Lynch, Revolving Door, TCW, UBS

Tags: AIG, Barack Obama, Barclays, Ben Bernanke, Bonuses, Compensation, Davos, Economy, Fed, Goldman Sachs, job cuts, Movies, Politics, Real Estate, UK

• Republican Brown Wins Massachusetts Seat in ‘Tsunami’ Election
• Bernanke Seeks to Defuse Criticism Over AIG With Call for Audit
• New York Fed Says AIG Phrase Marked for Deletion Was Inaccurate
• Pandit’s gambit
• Pandit Is Running Out of Time to Clean Up Citigroup
• Morgan Stanley Reports Full-Year and Fourth Quarter Result
• Bank of America Announces 2009 Net Income of $6.3 Billion
• Bank Of America 4Q Loss Narrows Amid Merrill Results Read the rest of this entry »

Tags: AIG, Bank of America, Barack Obama, Ben Bernanke, Fed, Morgan Stanley, Obamacare, Revolving Door, Scott Brown, Sovereign wealth, Twitter

• 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 »

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

• Goldman Sachs Still Shines for MBAs Who Ignore ‘Hype’
• Soros, Citadel Hire Hedge-Fund Analysts From Galleon
• UBS Lays Out Employee Ethics Code
• Murdered Merrill Banker’s Wife Appeals Her Conviction
• Ex-Merrill Banker Bayly Won’t Be Retried in Enron Barge Case Read the rest of this entry »

Tags: Citadel, Convictions, Enron, Ethics, Galleon, George Soros, Goldman Sachs, Legal, MBA, Revolving Door, UBS

• 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 »

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

• 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 »

Tags: Allen Stanford, Ben Bernanke, Fed, FINRA, Harvard, Microsoft, Pimco, Revolving Door, SAC Capital, Steven A. Cohen, TARP, TCW

• 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 »

Tags: Bank of America, Bear Stearns, Bonuses, Citigroup, Compensation, Hedge funds, Pay czar, Revolving Door, TARP, Taxes

• 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 »

Tags: Autos, Bank of America, Ben Bernanke, Fed, GM, Insider Trading, Merrill Lynch, ponzi schemes, Retailing, Revolving Door, SEC, TARP, Wells Fargo

• 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

• 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

• 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

• Deutsche Bank Boosts Banker Pay After Record Sales and Trading Share Business Exchange
• Citadel Securities Head D’Souza Leaves After a Year
• F.D.I.C. Chief Criticizes Reform Plan
• Tanking Gov. Paterson may ‘reassess’ his election bid
• Sex show host Robin Byrd forks over $500 to Sen. Schumer’s campaign Read the rest of this entry »

Tags: Bonuses, Citadel, Compensation, Deutsche Bank, FDIC, New York, Political Contributions, Politics, Porn, Revolving Door

Can this really be a surprise? With all of the abuse that CEOs at banks that are  still beholding to Uncle Sam have received (getting raked over congressional coals, earning non-competitive pay, etc.),  what sane superstar CEO type would want the headaches of being at the helm of B of A?  So of course the pool of candidates will be small.  Very small.   It’s a case of adverse selection.  According to Bloomberg:

Bank of America Corp.’s search for a new CEO has slowed as directors sift through outside candidates that are in short supply, according to people familiar with the process. Read the rest of this entry »

Tags: Bank of America, Compensation, Revolving Door, TARP

• Galleon Clients Abandon Ship
• ‘Pirate’ Raj facing mutiny
• Rajaratnam’s Letter to Employees
• Galleon’s Traders Seek Legal Advice, Update Resumes
• Hedge funds brace for fallout from insider-trading bust
• Thin Line Separates Insider Trading and Research Read the rest of this entry »

Tags: Galleon, Hedge funds, Insider Trading, Legal, Raj Rajaratnam, Revolving Door

• JPMorgan Hires Merrill’s Rifkin as M&A Vice Chairman
• CEOs of Bailed-Out Banks Flew to Resorts on Firms’ Jets
• Hedge funds lack ebullience at annual shindig Read the rest of this entry »

Tags: Bank of America, JP Morgan, Merrill Lynch, poaching, Revolving Door, TARP

• Barbarians in Bankruptcy Court
• Credit Traders In Demand As Banks Look To Rebuild
• Pickens Says Oil Will Average $80 to $85 a Barrel
• Moody’s Downgrades $761M Of Credit Suisse RMBS, Most To Junk Read the rest of this entry »

Tags: Bankruptcy, Boone Pickens, Credit Suisse, High yield, Oil, Private equity, Revolving Door, Upgrades/Downgrades

Life after Wall Street: The move to electronic trading forced  Carlos Arays out of a high paying job as a trader on the NY Mercantile Exchange; now after a year and a half of being unemployed, he’s working at The Palm as a maitre d’for much less.

Tags: Revolving Door, tough times, Videos, Wall Street has changed

It seems like it’s taken forever, but former Bear Stearns CEO Alan Schwartz has finally landed.  He’s expected to join Guggenheim Partners later this month according to the WSJ.

Tags: Alan Schwartz, Bear Stearns, Credit Crunch, implosions, investment banks, Revolving Door

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Tags: Dresner, Fees, Hedge funds, Revolving Door, Taxes, UK

According to the Financial Times, the FDIC has begun to explore who might be a successor to CItigroup CEO Vikram Pandit should the beseiged bank need more taxpayer dollars.  Those who might be in the running include Ned Kelly, the current CFO, Gary Crittenden, his predecessor who now heads the division that holds the bank’s noncore assets and a new director that wasn’t named.

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Tags: Citigroup, TARP, Vikram Pandit

Andrew Luan used trade structured credit bonds at Deutsche Bank before the shit hit the fan and he lost his job.  Now he's turned lemons into lemonade, taking tourists on walking visits to the sites of the Wall Street meltdown.  For $40 he'll  show you where it all happened and give you the inside scoop: Lehman Brothers, the NY Stock Exchange, AIG and the charging Wall Street Bull….

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Tags: Credit Crunch, Deutsche Bank, Revolving Door

Watch CBS Videos Online

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Tags: Banks, Revolving Door, Tim Geithner, U.S. Treasury, Videos

To wear a Hermes scarf, or to not wear a Hermes scarf? To wear a jacket or to not wear a jacket? To go bare legged or to wear stockings?  Dress down or not?  And what does dressing down even mean for a woman at a hedge fund? 
Those are only some of the pressing fashion questions that professional hedge fund women face. The Wall Street Journal explores their clothing dilemma….

Read the rest of this entry »

Tags: Compensation, Discrimination, Fashion, Hedge funds, Revolving Door