Wall Street Folly

Harry Reid gets an earful from Goldman bankers at fundraiser; Lehman examiner says estate might have a claim against some of the banks; BofA set to report after “Fabulous Month” for Merrill Lynch; First there was Greece, next huge problem is Portugal per economists; SEC proposal will collect data on high frequencer traders; UBS shareholders express unhappiness with executive pay; UBS banker looking for shorter prison sentence; Massachusetts pulling money from BofA, Citigroup, and Wells Fargo in credit card rate protest

Posted by WSF On April - 15 - 2010
  • Goldman Sachs bankers harangue top Demoocrat at private fundraiser
  • Lehman may have grounds to sue banks
  • BofA May Post Profit After ‘Fabulous Month’ for Merrill Lynch
  • The Next Global Problem: Portugal
  • SEC votes to tag large equity traders
  • UBS investors speak out against pay plans
  • Former Banker for UBS Seeks Shorter Sentence
  • Massachusetts moving money out of 3 big banks to protest credit card rates Read the rest of this entry »

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WSF

Fed report shows big banks including Goldman, JPM, BAC, Citigroup, Morgan Stanley windowdressed end of Q debt levels; NYC Comptroller thinks Wall Street bonus tax should be on the table; Hedge funds rose in March; Post mortem: Ex-Citigroupers Prince and Rubin on the hotseat; Tiger Woods roars back to his best ever Masters first round

Posted by WSF On April - 9 - 2010
  • Big Banks Mask Risk Levels
  • Wall Street Bonus Tax Should Be Considered, Liu Says
  • Los Angeles Faces Threat of Insolvency
  • Hedge Funds Rose 2.7% in March, Strongest Month Since September
  • Citi’s ex-grandees strain to keep cool
  • Citigroup executives apologize for not averting financial crisis
  • Judge Faults Prosecutors in ‘Squawk Box’ Case
  • Tiger Woods Shoots His Best Masters First Round; Couples Leads Read the rest of this entry »

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WSF

Wall Street traders faring better than CEO’s, Ex Citigroup bigs Prince and Rubin have some ’splainin to do to Congress; Vikram Pandit may make more than a buck a year yet; The SEC’s rocky road to changing its poor image; Los Angeles financial meltdown?; California’s pension fund mess; Apartment rents on the rise

Posted by WSF On April - 6 - 2010
  • Traders Beat Wall Street CEOs in Pay
  • Now to Explain the Party Favors
  • Fannie, Freddie Touch Off Swaps Scrap
  • SEC faces setbacks, skepticism in trying to reform its enforcement image
  • Moody’s and S&P reproached
  • A grim assessment of L.A.’s finances
  • Shortfall Awaits California’s Big Pension Funds
  • Apartment Rents Rise as Sector Stabilizes Read the rest of this entry »

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WSF

Not so fast for JP Morgan tax break as FDIC said to back away from support; Morgan Stanley picked to underwrite Uncle Sam’s Citigroup stock sale?; Greece issuing bonds; Dubai said to offer Dubai World creditors some guarantees; AIG aircraft leasing guy said to have left over pay restrictions; Junk bond issues hitting new records

Posted by WSF On March - 29 - 2010
  • FDIC Stands Between J.P. Morgan and a WaMu Payoff
  • M. Stanley to underwrite US’s Citi stock sale-CNBC
  • Greece to Issue Seven-Year Bond
  • Dubai World guarantees revealed
  • AIG Unit Feels Effects of Pay Limits
  • Junk bonds sell in record volumes Read the rest of this entry »

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WSF

Even though he doesn’t have power over past pay, Ken Feinberg may resort to shaming pre-TARP bonus babies to cough up dough (Good luck with that…); Numbers show that not so many top execs bailed on banks with pay limits; NY Post highlights Goldman nepotism and the largesse paid to young kin; Flyonthewall.com court decision over publishing broker upgrade / downgrade headlines could have broader ramifications

Posted by WSF On March - 23 - 2010
  • Feinberg to Review Pay at Bailed-Out Firms
  • Few Fled Companies Constrained by Pay Limits
  • Family bonus(es) plan
  • Big Clients Keep Their Head Start Read the rest of this entry »

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WSF

2200 page Lehman Examiner’s report: Lots of blame to go around including top execs, Were they insolvent weeks before filing?; EU defends its position on hedge fund rules after Geithner criticism; Obama said to want Yellen for Fed Vice Chairman; AIG still trying to get ex-employees to pony up at least part of those already paid bonuses; Tiger Woods reportedly to make comeback at Masters

Posted by WSF On March - 12 - 2010
  • Report Details How Lehman Hid Its Woes as It Collapsed
  • British law firm cleared way for Lehman cover-up
  • Lehman report lays wide blame for failure
  • EU rebuff for Geithner over rules on hedge funds
  • Obama Plans to Tap Yellen for Fed Vice Chairman
  • AIG Said to Query Bonus Holdouts on Pay in Push for Concessions
  • Reports: Tiger Woods likely to return from hiatus at Masters Read the rest of this entry »

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WSF

New Goldman disclosure warns investors of PR risk; Warren Buffett still Likes Goldman and thinks Lloyd Blankfein is swell; Another Goldman trading record; Some HSBC bankers are bankin

Posted by WSF On March - 2 - 2010
  • Goldman Warns Investors That Bad PR Could Hutt Business
  • Warren Buffett ‘feels good’ about Goldman Sachs
  • Goldman exceeds trading record
  • HSBC pays top bankers more than £9m each Read the rest of this entry »

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Goldman Sachs, Warren Buffett

John Mack thinks investment bankers get paid too much; Name of shame: Mark Madoff’s wife and kids are changing their last names to “Morgan”; Appaloosa getting active in Stuyvesant Town

Posted by WSF On February - 25 - 2010
  • Morgan Stanley’s Mack Says Investment Banker Pay Still Too High
  • Madoff Daughter-in-Law Seeks to Change Name After Death Threats
  • Appaloosa Seeks to Join Lawsuit Over Stuyvesant Town Read the rest of this entry »

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Bernie Madoff, Bonuses, Compensation, John Mack, Morgan Stanley, Real Estate

702 banks now on FDIC endangered list; SEC is voting today on short selling changes; Credit Suisse bankers who opted for bonuses in toxic securities are banking!; Toyota big boss on congressional hot seat today; GM’s Hummer deal with China said to be in trouble; EU initiating a Google antitrust probe

Posted by WSF On February - 24 - 2010
  • At F.D.I.C. , Bracing for a Wave of Failures
  • SEC Disappointing Goldman Sachs Amid Vote on Short-Sale Curb
  • Bon Appétit: ‘Toxic’ Bonus Yields 72% at Credit Suisse
  • Japan to probe Toyota acceleration complaints
  • ‘Consumer Reports’ still likes Prius as top eco-friendly car
  • A Tough Test Before Congress for Toyota’s Chief
  • EU Opens Google Antitrust Inquiry
  • GM Said to Not Win China’s Approval for Hummer Deal Read the rest of this entry »

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Autos, Banks, Bonuses, Compensation, Credit Suisse, Goldman Sachs, SEC, Short selling

Goldman Sachs’ Corrigan defends the Greek swaps, but acknowledges that there should have been more transparency; NY Comptroller: Wall Street bonuses increased 17% in 2009; TCW investors pulling $1.3B from Gundlach’s former funds

Posted by WSF On February - 23 - 2010
  • Goldman Sachs Says Greek Swaps Not ‘Inappropriate’
  • Wall Street Bonuses Rise 17%
  • TCW Investors to Pull $1.3 Billion From Credit Funds
  • UBS hires fifth former Merrill executive Read the rest of this entry »

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Bonuses, CDS, Goldman Sachs, Hedge funds, Revolving Door

Goldman’s Antigone and the Greek tragedy; Goldman turns to outsiders to help its image problems; Greece PM: “our borrowing needs are covered until mid-March”; Toyota’s incriminating memo; Arnold says the “worst is over”; No bonus for RBS chief; Abbey Road studio no longer for sale

Posted by WSF On February - 22 - 2010
  • The Woman Behind Greece’s Debt Deal
  • Goldman’s rehab
  • Greece PM: Borrowing Needs Are Covered Until Mid-March
  • Greece Said to Have Arranged Swaps With 15 Banks
  • Toyota boasted it saved $100M with limited recall
  • Arnold Schwarzenegger Says “Worst Is Over” for Recession
  • No Bonus for RBS Chief Read the rest of this entry »

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WSF

Greece: A new fire storm for Goldman; Greece and the EU at odds over bailout; Barclays’ Varley and Diamond won’t take bonuses; Evan Bayh bailing on the Senate, presidential aspirations?; JP Morgan said near deal to buy RBS unit; Fed’s Bear Stearns backstop is in the red

Posted by WSF On February - 16 - 2010
  • Wall St. Helped to Mask Debt Fueling Europe’s Crisis
  • Greece refuses EU austerity measures demand
  • Barclays Soars as Profit Doubles; Varley Shuns Bonus
  • Bayh’s Retirement Adds to U.S. Senate Democrats’ List of Woes
  • JPMorgan Said Near to $1.7 Billion Purchase of RBS Sempra Units
  • Cost of Dubai default insurance rises sharply
  • Fed’s Bear Stearns portfolio value falls Read the rest of this entry »

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Barclays, Bear Stearns, Bonuses, Fed, Goldman Sachs, JPM, JPM Chase

“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

EU deal on Greece set, but no details yet; Goldman cuts Euro target,This year Biggest Bonuses went to Wall Street lesser knowns; AIG’s new compensation plan; Credit Suisse bonuses 60% cash; As they’ve been saying for awhile, commercial real estate is the next shoe to drop and small banks could be in trouble; CIT’s TARP debt officially wiped out; Foreclosures still coming big time

Posted by WSF On February - 11 - 2010
  • EU Reaches Greek Accord, Will Apply Strict Rules, Officials Say
  • Goldman Cuts Euro Target on ‘Most Threatening’ Crisis
  • AIG Pay Plan: Rank and Rile
  • Wall St.’s Biggest Bonuses Go to Not-So-Big Names
  • Bernanke Lays More Groundwork for Exit Without Giving Timetable
  • Credit Suisse says 2009 bonuses average $135,000
  • TARP Panel: Small Banks Are Facing Loan Woes Read the rest of this entry »

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Barack Obama, Ben Bernanke, Bonuses, Compensation, Credit Suisse, Real Estate

Bailout for Greece said to be on the way but not done deal yet; More charges for Raj Rajaratnam, and he’s ordered to turn over wire tap tapes; Soros says Greece will do whatever they have to to stay euro member; Morgan Stanley has been hearing from large shareholders on pay issue; UBS clawing back some bonuses, and they’re facing more tax evasion allegations; Toyota and now Honda recalls

Posted by WSF On February - 10 - 2010
  • Germany Weighs Greek Support in Pre-Summit Switch
  • Judge Orders Galleon Defendants to Release Tapes
  • Galleon’s Raj Rajaratnam Faces More Charges in New Indictment
  • Soros Is ‘Confident’ Greece Will Stay in Euro Region
  • Morgan Stanley Gets Earful on Pay
  • UBS: Investigating Tax Evasion Allegations From German Client Read the rest of this entry »

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Bonuses, Compensation, George Soros, Hedge funds, Insider Trading, Morgan Stanley, Taxes, UBS

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 »

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

It’s all Goldman’s fault: Front page NYT article essentially blames them for AIG mess (as if no firms play hardball in negotiations….); Never say never: Geithner says U.S. will never lose AAA; John Thain is back now heading CIT; Blankfein gets $9M in stock; Toyota recall fears spreading to Lexus; Argentina debt swap?; Hell freezes over at Google with Super Bowl ad; Health summit to be on TV

Posted by WSF On February - 8 - 2010
  • Testy Conflict With Goldman Helped Push A.I.G. to Edge
  • Geithner Says U.S. Will ‘Never’ Lose Aaa Debt Rating
  • Goldman Bows on CEO Pay
  • Merrill’s Ex-Chief Is Back, Atop CIT
  • Obama to hold televised health summit
  • Argentina Will Swap Debt in March, Pagina/12 Says
  • Toyota Prius global recall fears spread to luxury Lexus brand Read the rest of this entry »

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AIG, Autos, Bonuses, Compensation, Goldman Sachs, Lloyd Blankfein, Tim Geithner

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 »

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

What boobs!: Some SEC staffers have been surfing for porn during work hours; FSA puts UK banks in a bad spot over bonuses — they risk losing their licenses; Pali Capital employees heading for the exits; The return of leveraged loans; Europe is backing Greece’s financial disaster plans

Posted by WSF On February - 3 - 2010
  • SEC staff monitors stocks & bond-age
  • Banks told to comply on bonuses or lose UK banking licences in shock FSA ultimatum
  • Pali Capital Defections Roll On As Firm’s Future Uncertain
  • Leveraged loan financing comes out of deep-freeze
  • Greece wins Europe’s backing for moves to avert financial disaster Read the rest of this entry »

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Bernie Madoff, Bonuses, SEC

Derivatives probe: SEC asks John Paulson for info on his winning subprime bets; B of A going on broker hiring spree, it’s bonus pool is over $4B; Dodd knocks Obama’s Wall Street regulation plan;’ Volcker Rule’ meeting resistance; Wire wearing Slaine charged in Galleon insider trading case; AIG to pay reduced bonuses; Madoff victims’ claims decision on the way

Posted by WSF On February - 3 - 2010
  • SEC asks Paulson fund for information
  • BofA push for 2,000 more retail brokers
  • BofA’s Banker-Pay Pool: $4 Billion
  • Dodd Calls Obama Plan Too Grand
  • Senators cool to ‘Volcker rule’
  • Investor charged in Galleon insider trading case
  • Mole Who Wore Wire In Galleon Case Is Identified
  • Despite Critics, AIG Sets Bonuses Read the rest of this entry »

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AIG, Bank of America, Bernie Madoff, Hedge funds, Insider Trading

$100M Bonus for Goldman’s Blankfein? Can $GS really be that tone deaf?; Morgan Stanley gonna hire lots of traders!; This year bankers were pariahs at Davos; Obama unveils new budget with record deficit, his new jobs bill might cost $100B; Citigroup selling Private Equity unit?; Pandit pins faith on growth in Europe; TARP’s Barofsky proes up 41% last Q

Posted by WSF On February - 1 - 2010
  • Goldman Sachs and the $100 million question
  • M Stanley to recruit hundreds of traders
  • Obama 2010 budget projects new record for deficit
  • Obama’s Jobs Bill May Cost $100 Billion, Spokesman Gibbs Says
  • Bankers at Davos Face Global Ire
  • Gorman aims to strike a balance
  • Citigroup Said to Plan Sale of $10 Billion Private-Equity Unit
  • Pandit puts faith in overseas growth strategy
  • TARP’s Barofsky Increased Probes 41 Percent in Fourth Quarter Read the rest of this entry »

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Barack Obama, Bonuses, Citigroup, Compensation, Goldman Sachs, Lloyd Blankfein, Morgan Stanley

Gordon Gekko inspiration Asher Edelman is no longer a corporate raider — he’s focusing on the art market; $GS Greece: Goldman Sachs to the rescue!; London mayor sees no banker stampede through the exit doors, at least not yet

Posted by WSF On January - 29 - 2010
  • The Art World’s Gordon Gekko
  • Goldman Sachs plays key role in rescue
  • London Mayor: Seeing No Stampede Of Bankers From London Read the rest of this entry »

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Activists, Goldman Sachs

Bernanke wins, but Fed weakened?; Top bankers huddle at Davos; More on Greek debt concerns; AIG draws $2.4B more, most employees may accept smaller bonuses; Bank tax poses conundrum for NY Senators; Barclays claims Lehman owes them $3B

Posted by WSF On January - 29 - 2010

  • Bernanke May Have Harder Fight Defending Fed After Confirmation
  • Top Bankers Huddle on Regulation Talks
  • DAVOS: Bank Of America Is Not Too Big, Says CEO
  • Euro Falls to Six-Month Low Versus Dollar on Greek Debt Concern
  • Greek Debt Swap Counterparty Risk May ‘Spook’ Market
  • AIG Gets Strong Response on Bonus Cuts
  • AIG Draws $2.4 Billion From Fed Credit Line, Most Since October
  • Bank Tax Is Knotty Issue for New York’s Senators
  • Barclays Says Lehman Owes It $3 Billion on Brokerage Deal

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AIG, Bank of America, Barack Obama, Barclays, Ben Bernanke, Bonuses, CDS, Fed

Jeremy Grantham is bearish again; George Soros says Obama’s bank taxes and curbs are “premature”; Carlyle’s Rubenstein sees emerging markets as the best investment area, with U.S. “pretty attractive”; Rate of buying CDS on sovereign debt accelerating; Rules on Wall Street clawbacks are getting tougher

Posted by WSF On January - 27 - 2010
  • A Bear Reawakens After a Bullish Run
  • Soros Calls Obama Bank Plan ‘Premature’
  • Carlyle’s Rubenstein Says Emerging Markets Best Place to Invest
  • Swaps Trading Surges as National Deficits Rise: Credit Markets
  • Wall Street Toughens Rules on Clawbacks Read the rest of this entry »

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Bonuses, CDS, Carlyle, Compensation, George Soros, Hedge funds

Goldman’s stock battered by Obama anti-bank plans just in time to benefit stock bonus pricing; Four hedge funds sue Porsche over that nasty VW short squeeze; Philippe Jabre shutting his flagship fund to new investment

Posted by WSF On January - 26 - 2010
  • Goldman Sachs Bonuses May Get Boost as Obama Plan Hammers Stock
  • Funds sue Porsche over VW debacle
  • Jabre to ‘hard close’ its flagship hedge fund Read the rest of this entry »

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Barack Obama, Bonuses, Compensation, Goldman Sachs, Hedge funds, Lawsuit

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