Wall Street Folly

• Obama to Castigate Wall Street
• Greek 2009 Deficit Was Wider Than Expected
• Greek bond yields hit in spite of debt talks
• UBS, Credit Suisse May Be Split in Crisis, Panel Says
• UBS, Credit Suisse Must Hold 30 Days of Liquid Assets
• Senators Closer to Bridging Partisan Divide on Finance Overhaul
• Senate Derivatives Bill Faces Battle on Bank Spinoff Provision
• U.S. Said To Weigh AIG Exit Through Two Years of Share Sales
• Quattrone Reunites With Credit Suisse Investment Banker Boutros
• Businessweek Wears New Mantle Read the rest of this entry »

Tags: AIG, Barack Obama, Bloomberg, Credit Suisse, Financial reform, Frank Quattrone, Greece, Politics, Sovereign debt; Switzerland, UBS

• Geithner Wants Bankers’ Pay in Equity That Can Be ‘Clawed Back
• SEC officials promise changes after Madoff failure
• SEC Outlines Madoff Lessons
• Wells Fargo exec used Malibu Colony home lost by Madoff-duped couple, neighbors say
• Mack Steps Down as Morgan Stanley Chief After Shying From Risk
• Morgan, Under Mack, Lagged Behind Peers This Year
• For Gorman, a Test of His Leadership
• Harvard and Yale endowments suffer heavy losses
• Yale to Cut $150 Million Annually Through Fiscal 2014 Read the rest of this entry »

Tags: Allen Stanford, Bernie Madoff, Bloomberg, Bonuses, Compensation, Endowments, Harvard, James Gorman, John Mack, Microsoft, Morgan Stanley, SEC, Tim Geithner, U.S. Treasury, UBS, Wells Fargo, Yahoo, Yale

• Macabre: Bloomberg blunders by publishing Apple CEO Steve Jobs obituary, then retracts
  it – Gawker

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Tags: Apple, Bloomberg, Lehman Brothers, Odd Lots

Turns out that Stanley Druckenmiller, who runs hedge fund Duquesne Capital, was one of those behind the move.  Page Six tells us that he wrote a $250K check to the Draft Bloomberg Joint Fundraising Committee on January 14 when Mayor Bloomberg was noodling over becoming a third party candidate.
Mike’s Boosters – Page Six NY Post

Tags: Bloomberg, Hedge funds, Political Contributions, Politics

Mayor Bloomberg threw water all over this morning’s NY Post story that Bloomberg was interested in buying the NY Times.  From Briefing.com:

10:07      NYT
Summary of comments from CNBC on Bloomberg/New York Times story  (19.77
+0.58)  -Update-

    CNBC commentator said the Mayor of New York City denied
interest in buying the New York Times. Said he was ‘not a buyer of other
people’s problems.’

Tags: Bloomberg

That’s what this morning’s NY Post is suggesting.  We could see why the NY Times might want to pair up with Bloomberg given its downhill slide, but why would Bloomberg want that kind of albatross around its neck?  In our opinion, Bloomberg already has better reporting.

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Tags: Bloomberg

Juat as we entered Grand Central to head home, panic ensued.  Police were running for the exits.  We heard someone yell "evacuate NOW", and the crowd ran like hell for the exits.  No one knew why.  Outside it was very sooty.  Thousands of people were pouring out on to the street.  We were on 42nd Street and the police were telling people to go west quickly.  No one had any idea what was happening.  We were able to snap a quick picture of the plume of smoke (above) with our Blackberry.

Not knowing what was going on, we did a Google search of the news.  Nothing.   The good news: Our Blackberry still worked with the web. *Phew*.  So we went to Plan B.  We logged into our Bloomberg on our Blackberry and searched the news.  Et Voila.  Headlines were already up on Bloomberg, at 6:12, within minutes of the explosion.  They indicated that it was likely a manhole explosion or something similar.  But thankfully not terrorism which we happily shared with some of the other confused evacuees.

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Tags: Blackberry, Bloomberg