Wall Street Folly

Tags: AIG, Alvarez & Marsal, Bankruptcy, Bears, Fees, Lehman Brothers, Marc Faber, Tim Geithner, U.S. Treasury; Bailout

Tags: Barclays, Ben Bernanke, Bob Diamon, Carlyle Group, David Rubinstein, Fed, Henry Paulson, Nouriel Roubini, Tim Geithner, U.S. Treasury

Tags: Bank bashing, Banks, Barack Obama, Financial reform, Galleon, Health car, insider trading; Obamacare, Politics, Raj Rajaratnam, Tim Geithner, U.S.. Treasury

• Goldman Sachs Reports 2009 Earnings Per Common Share of $22.13; Fourth Quarter Earnings Per Common Share were $8.20
• Obama to Propose New Rules on Banks’ Size, Trading
• Rep Issa: NY Fed AIG submissions “incomplete”
• US Urges Judge to Bar Geithner Role in AIG Lawsuit
• AIG Took Four Tries on Filing as Fed Asked to Withhold Data
• Fed’s Dudley: Opposes Move In Congress To Audit Rate Policy Read the rest of this entry »

Tags: AIG, Barack Obama, Conan O'Brien, Fed, Goldman Sachs, Jay Leno, John Edwards, Lawsuit, NBC, Politics, Scandal, Sovereign debt, Tim Geithner, U.S. Treasury, Warren Buffett

• 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 »

Tags: AIG, Alan Greenspan, Barack Obama, Bonuses, Chris Cox, Compensation, FDIC, Intel, JP Morgan, Politics, retailers, SEC, Sheila Bair, Taxes, Tim Geithner, U.S.. Treasury

• Goldman Sachs Weighs Requirement for Charity
• Banks Brace for Bonus Fury
• Geithner Has Support of Obama, Democratic Lawmakers, Aides Say
• U.S. Bankers Are Fed Up With British Regulations
• Corzine Leaves $8 Billion Gap as N.J. Governor Readies Exit
• Dubai’s First Foreclosure May Open Floodgates in Worst Market
• Dimon Leading Dividend Race Pandit Sweats in New Test for Banks
• Goldman Looks to Crash ETF Party Read the rest of this entry »

Tags: AIG, Bonuses, Compensation, Dubai, Goldman Sachs, Jamie Dimon, Jon Corzine, JP Morgan, Movies, Tim Geithner, TV, U.S. Treasury

• Jamie Dimon seen as good fit for Treasury
• BofA May Name Stopgap Chief If Board Needs More Time for Search
• Goldman’s Response to Questions About A.I.G.
• UK: Top bank traders face pay disclosure
• Investment Firm Splits in Two Over Internal Rifts
• Microsoft, News Corp. In Early Talks On Web Deal
• Would Bing switch really dent Google?
• G.E. and Vivendi Halt Talks Over Stake in NBC Read the rest of this entry »

Tags: Bank of America, Bonuses, Compensation, Goldman Sachs, Google, Hedge funds, Jamie Dimon, JP Morgan, Ken Lewis, Microsoft, Tim Geithner, U.S. Treasury

Timmy had kind of a tough day on the congressional hot seat, enduring slings and arrows.   Here’s one of the exchanges….

Tags: Politics, Stimulus, Temper, Tim Geithner, U.S. Treasury, Videos

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Tags: AIG, Compensation, Economy, Goldman Sachs, Tim Geithner, U.S. Treasury, Vide

Tags: Banks, Barack Obama, Ben Bernanke, Fed, Hedge funds, Jim Chanos, Kynikos, Politics, Tim Geithner, U.S. Treasury

It’s official — break out the bubbly!  10 firms have been approved to give back the toxic TARP funds.  The Treasury issued a statement (below) but didn’t name the firms.  Per Bloomberg: Read the rest of this entry »

Tags: Barack Obama, Goldman Sachs, JP Morgan, Morgan Stanley, Politics, TARP, Tim Geithner, U.S. Treasury

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Tags: Politics, TARP, Tim Geithner, U.S. Treasury

Tags: Ace Greenberg, Alan Schwartz, Bear Stearns, Ben Bernanke, Fed, Henry Paulson, Implosion, Jamie Dimon, Jimmy Cayne, JP Morgan, Politics, U.S. Treasury

Saturday Night Live’s opening skit: Tim Geithner on the stress tests. It’s pretty amusing..

Tags: Bank of America, Citigroup, Goldman Sachs, JP Morgan, Politics, Saturday Night Live, Stress Tests, Tim Geithner, Wells Fargo

Tim Geithner was on Charlie Rose again last night, talking stress tests, etc.  He also has an op-ed piece in the NY Times ("How we tested the big banks") this morning along the same lines. 

Tags: Charlie Rose, TARP, Tim Geithner, U.S. Treasury, Videos

If the preliminary findings stick, they'll have 6 months to come up with more capital…..

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Ken Lewis’ February testimony to Andrew Cuomo et al:  According to this morning’s WSJ, based on statements that Ben Bernanke and Hank Paulson were said to have been made to him, Ken Lewis believed that he was supposed to keep mum about Merrill Lynch’s financial woes, even though he risked not publicly disclosing material financial information about the increasingly risky merger to his shareholders.  It was either that, or “impose a big risk to
the financial system”.  But according to statements from Bernanke and Paulson, it’s not all that clear who said what and how Lewis’ arm might have been twisted….

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Tags: Bank of America, Ben Bernanke, Fed, Henry Paulson, Merrill Lynch

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Tags: BAC, Bank of America, Earnings, Ken Lewis, Merrill Lynch, Politics, slides, supplemental financial information, TARP

Toxic TARP: This is why we would NEVER want to do business with Uncle Sam.  It's just plain scary…..

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Tags: Bank of America, Banks, Citigroup, Goldman Sachs, JPM Chase, Morgan Stanley, Politics

Funny…at first she couldn't remember what PPIP stood for.

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Tags: BAC, Bank of America, Citigroup, Credit Crunch, Elizabeth Warren, Goldman Sachs, GS, Jon Stewart, JP Morgan, Morgan Stanley, MS, Politics, PPIP, TARP, The Daily Show, Wells Fargo, WFC

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Tags: banking, Bonuses, Compensation, Council of Institutional Investors, Goldman Sachs, investment banking, Lloyd Blankfein, Politics, speech, TARP, Wall Street

Will Goldman announce plans to repay its TARP loans on the same day that it announces earings?  That's the speculation per the Daily Telegraph:

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Tags: Goldman Sachs, Politics

Watch CBS Videos Online

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

Bridgewater's Ray Dalio has apparently had second thoughts on the Tim Geithner's new PPIP. He's decided is not to play a week after indicating that he would. He sent out a note to investors, highlighting the reasons he's changed his mind according to the New York Post.  Among them: political risks, and that the numbers don't add up, at least with respect to legacy securities…..

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Tags: Bridgewater, Hedge funds, Politics

Those $3.6 billion in Merrill Lynch bonuses that were paid out early seem to have disappeared from the front page thanks to the likes of AIG and the auto bailout.  But Dennis Kucinich, chairman of a subcommittee of the House of Representatives' Oversight and Government Reform Committee, is all over it now:

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Tags: Bank of America, Ben Bernanke, Bonuses, Compensation, Fed, Henry Paulson, John Thain, Ken Lewis, Merrill Lynch, Politics