Wall Street Folly

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 »

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

“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, JPM Chase, Jamie Dimon, Lloyd Blankfein, Scandal

More taxpayer $$ to get flushed? Seems like we’ll be paying off GMAC fines with the next round of bailout $$$; Geithner thinks commercial real estate problems won’t tank economy; Compensation: Will UK bankers take hits vs those in U.S.? Stanford receiver identifies 1.5B; White House fights cash for clunkers criticisms; Moody’s mortgage bonds downgrades on the way?; CDR Financial Products execs charged with bid rigging

Posted by WSF On October - 30 - 2009

  • Regulator says GMAC must pay £10.5m for treating customers unfairly
  • Geithner: Economy Can Withstand Commercial Real-Estate Woes
  • Bankers fear transatlantic pay split
  • Stanford receiver pinpoints $1.5bn
  • White House fights back on Cash for Clunkers
  • Moody’s May Downgrade Mortgage Bonds With New Outlook
  • CDR Financial Products, 3 executives charged in bid-rigging case Read the rest of this entry »

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Allen Stanford, Bonuses, Compensation, Hedge funds, Politics, Real Estate, Tim Geithner

GMAC has its hand out again; Pay Czar increased base pay at TARP firms; Home price gains may be fleeting; Icahn’s rival CIT restructuring plans; Will consumers open their purses for the holiday shopping season?; Ford leaves Chrysler and GM in the dust

Posted by WSF On October - 28 - 2009

  • GMAC Asks for Fresh Lifeline
  • Pay Czar Increased Base Pay at Firms
  • Dem bill urges new US powers over financial firms
  • U.S. home price gains may not be sustainable: Shiller
  • Fears of a New Chill in Home Sales
  • Icahn Sets Out to Derail CIT’s Revamp Read the rest of this entry »

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Compensation, Credit Crunch, WSF

Ben Bernanke’s op ed on the Fed’s exit strategy; Barofsky’s $23.7 trillion estimate: Bah!; Obama rails at remorseless banks; Morgan Stanley fixed income shake up; Allen Stanford makes another try at Bail; Barnes & Noble takes on Amazon’s Kindle

Posted by WSF On July - 21 - 2009
  • The Fed’s Exit Strategy
  • Big Estimate, Worth Little, on Bailout
  • Obama hits out at unrepentant Wall Street banks
  • Deutsche Bank Fires Two in Spying Probe
  • Morgan Stanley Picks DiMaio for Interest-Rate Unit Read the rest of this entry »

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WSF

Video: The Daily Show roasts a favorite target, Goldman Sachs, yet again: The “Pyramid Economy” ($GS, #economy)

Posted by WSF On July - 17 - 2009

Jon Stewart: “After months and months of dark clouds, there is some good news…”  Segue to Goldman Sachs’ huge earnings: “WE’RE BACK!!!!”  “That is the sound of raw capitalism…Stampeding!!!”

“Goldman Sachs makes $3.4 billion dollars in profit…from April to June. I guess the bailouts are working……for Goldman Sachs. How is it happening? Let me explain it to you. The U.S. Economy is basically a pyramid…”  Then he explains how Goldman is atop that pyramid….

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Television, Videos, WSF

Right On!: Ed Altman says that we the taxpayers are the big losers in the $GM bailout

Posted by WSF On May - 29 - 2009

No surprise to us (and we agree), he says the union comes out the big winner.  And he worries about Chapter 22 despite GM emerging with a much lighter debt load:

Read the rest of this entry »

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WSF

WSF Headline Roundup – 10/15/08 - More on the $250B banks injection; Credit slow signs of easing; JP Morgan, State Street, Intel earnings; Google / Yahoo talking to Justice Dept re: their ad deal; Margin call hits XL Capital chairman

Posted by WSF On October - 15 - 2008
  • Devil Is in Bailout's Details
  • Paulson's Change in Rescue Tactics
  • Smaller Banks Resist Federal Cash Infusions
  • Credit Shows Signs of Easing on Bank Rescue
  • JPMorgan Net Income Drops 84 Percent on Writedowns
  • State Street Net Rises 33% as Volatility Boosts Fees
  • Intel forecast cheers Wall Street
  • Google, Yahoo Seek to Avoid Antitrust Suit Over Ad Deal
  • XL Chairman O'Hara Sells 80% of Stake on Margin Call

Read the rest of this entry »

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