California | Wall Street Folly

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 »

Tags: Bonuses, California, Casinos, Compensation, Fannie Mae / Freddie Mac, Financial Crisis, Financial Distress, Mary Schapiro, Moody's, Morgan Stanley, rating agencies, Rental market, SEC, Standard & Poors

WSF

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 »

Tags: Arnold Schwarzenegger, Autos, Beatles, Bonuses, California, CDS, Citigroup, Compensation, Economy, Goldman Sachs, Greece, Music, RBS, recalls, Toyota

WSF

Fed lays down the law on bonuses to big banks; Buffett buying all of $BNI; Barclays in major restructuring; RBS and Lloyds getting $51B second bailout; Galleon: Ruiz exiting his job; UBS loss; SCOTUS hearing mutural fund fee case; California budged chief bolting; CIT chapter 11 could hit smaller retailers

Posted by WSF On November - 3 - 2009

Mack, Blankfein Said to Meet Fed Officials on Pay
Fed tells banks to adopt pay rules early
Berkshire Buys Burlington Northern in Buffett’s Biggest Takeover
Press Release: Berkshire Hathaway Inc. to Acquire Burlington Northern Santa Fe Corporation (BNSF) for $100 Per Share in Cash and Stock
Barclays Rejigs Management in Major Restructuring
RBS, Lloyds Get $51 Billion in Second Bank Bailout
Executive quits in Galleon case
Bernanke Housing Gamble May Bring Pressure to Extend Fed Aid
UBS Reports Fourth Consecutive Loss on Debt Charge
Justices tackle case on investment fees Read the rest of this entry »

Tags: Barclays, Berkshire Hathaway, Bonuses, California, CIT, Compensation, Fed, Galleon, Goldman Sachs, Morgan Stanley, Railroads, SCOTUS, UBS, Warren Buffett

Barclays, Bonuses, Compensation, Fed, Goldman Sachs, Warren Buffett

Warren Buffett loves his Chinese tailor; Goldman Sachs’ ‘embarrassing’ riches?’; 300-ish Credit Suisse bankers could bank large; Citigroup cutting back branch banking footprint?; California sell$8.8B debt sale a success; Citadel credit business expanding next month; Blackstone’s Jenkins says PE ain’t dead and will “thrive”; Nomura’s $5.6B stock sale

Posted by WSF On September - 24 - 2009

Omaha’s Oracle of Style Sings the Praises of a Chinese Suit
‘Damage’ control
Credit Suisse bankers poised for pay-out
Citigroup Will Pare Back to Six Major U.S. Cities
Griffin’s Citadel Securities to Unveil Credit Team in October
California sees big demand for $8.8 billion in short-term debt
Blackstone’s Jenkins Says Buyout Firms to Thrive, Debt Limited Read the rest of this entry »

Tags: AIG, Blackstone Group, Bonuses, California, Citadel, Citigroup, Compensation, Credit Suisse, Fashion, Goldman Sachs, Insider Trading, Nomura, Palm, Private equity, SEC, Warren Buffett

Goldman Sachs, Hedge funds, WSF

Five B of A directors said to have gotten Cuomo subpoenas; Oy: Thain pressured execs with “wonderful opportunity” to give up bonuses; Someday Citi will be profitable; Citi looking to image changing ad campaign; SEC considering flash order ban; California probing credit rating firms; Levkovich sees 5-10% mkt pullback; Volker says ‘long slog’ for recovery

Posted by WSF On September - 17 - 2009

Cuomo Said to Subpoena Five Bank of America Directors
Ex-Brokerage Chief: Pressured to Forgo Bonus by Thain
Citi CEO Pandit Has ‘Little Doubt’ of Profit Return
Pandering Pandit
SEC to Consider Flash-Order Ban, Rules for Credit-Rating Firms
California Will Investigate Rating Firms, Attorney General Says
Citi’s Levkovich sees 5-10 pct pullback in US stocks Read the rest of this entry »

Tags: Andrew Cuomo, Bank of America, California, Citigroup, credit ratings, Economy, FDIC, Paul Volcker, SEC, Vikram Pandit

WSF

Ben Bernanke gets to keep his job!; Goldman “trading huddles” gonna be probed; Ex-Merrill exec Bob McCann suing B of A over noncompete preventing him from a “once-in-a-lifetime” job; Giuliani may run for Governor; B of A defending Merrill bonuses; Allen Stanford will stay in jail til his trial; Sarkozy wants bonus curbs; Citadel files $470M Lehman claim; California mortgage delinquencies to rise thru 09?

Posted by WSF On August - 25 - 2009

Obama to Reappoint Fed Chairman Ben Bernanke
Regulators to Examine Goldman’s Trade Tips
Ex-Merrill executive sues BofA over departure
McCann files lawsuit against BofA
Giuliani, Seeing Opening, Mulls a Governor Bid
BofA Denies Misleading Its Investors on Bonuses
Appellate court keeps Stanford behind bars
Sarkozy Will Urge BNP, SocGen to Curb Bonus Payouts for Bankers
FDIC to Ease Entry for Private-Equity Firms Buying Failed Banks
Citadel Files Lehman Claim to Recover $470.5 Million Read the rest of this entry »

Tags: Allen Stanford, Apple, Bank of America, Bankruptcy, Barack Obama, Ben Bernanke, Bonuses, California, Citadel, Compensation, FDIC, Fed, Goldman Sachs, lawsuits, Lehman Brothers, Merrill Lynch, Noncompetes, Private equity, Revolving Door, Steve Jobs, Yahoo

WSF

U.S. Regulators said to have pushed for Citi CFO ouster; Warren Buffett says we’re on slow path to recovery with caveats; JP Morgan: Jamie Dimon rides to California’s rescue; S&P removed California from negative credit watch list for now; SEC warnings on leveraged ETFs; Hedge funds took in$10.6B in July; Nat gas 7 yr low; Brocade ex-CEO wins new backdating trial

Posted by WSF On August - 19 - 2009

Regulators urged Citi to replace CFO
Buffett Says U.S. Federal Debt Poses Risks to Economy, Dollar
California to get $1.5-billion loan from JPMorgan Chase
S&P lifts threat to cut California’s debt rating, for now
SEC warns investors on leveraged ETF holdings
Hedge Funds Had Net Inflows of $10.6 Billion in July
Manhattan Office Sales Ground to Halt in First Half
UBS Tax Fraud Probe Reaches 150 Americans, U.S. Says Read the rest of this entry »

Tags: Backdating, California, Citigroup, ETFs, Hedge funds, JP Morgan, Real Estate, SEC, UBS, Warren Buffett

WSF

Financial regulation overhaul may be stalling; Will California’s financing band-aid make things worse?; GE Capital to exit FDIC debt insurance plan; CIT passed on $2B GE Cap loan?; $MSFT ends CIT relationship; Credit ratings firm overhaul; Dimon cashes in on options; Nardelli back to Cerberus

Posted by WSF On July - 22 - 2009

Doubts Slow Financial Regulation Overhaul on Capitol Hill
Budget Agreement Deepens California’s Pain
GE Capital Approved for Plan to Exit FDIC-Backed Debt
CIT Said to Have Spurned $2 Billion Secured GE Loan
Microsoft Terminates Its Financing Relationship With CIT Group Read the rest of this entry »

Tags: California, Cerberus, CIT, Jamie Dimon, JP Morgan, Microsoft, Politics, Yahoo

WSF

There’s finally a deal in California; CIT lifeline still doesn’t fix the problem; Obama looking to give auto parts makers some help; D.B. Zwirn’s ex ceo sues for defamation; Will Back to School shopping season be a bust?

Posted by WSF On July - 20 - 2009

California Lawmakers, Governor Strike Deal on Budget
CIT may be saved – but now what?
Obama Seeks Ways to Aid Auto-Parts Makers, Locke Says
Ex-CFO Sues D.B. Zwirn, Founder For Defamation
Back-to-School Shoppers Plan to Spend Less, Save More Read the rest of this entry »

Tags: Autos, Barack Obama, California, CIT, Hedge funds, Retailing

WSF

JP Morgan’s earnings beat; Paulson sits on the hot seat; Banks opening the pay spigots to compete; California still has no budget deal; Regulators play hardball with B of A (and Citi); Foreclosures up 33% over June last year; Some large hedge funds could be “Tier 1″ under Obama plan; Chronic Hyperbolizer Donald Trump’s defamation lawsuit gets the well deserved boot

Posted by WSF On July - 16 - 2009

JPMorgan Profit Rises 36 Percent, Beating Estimates
Paulson Expected to Face Hard Questioning on Merrill Deal
Banks Ramp Up Pay Packages to Top Talent
Schwarzenegger, California Lawmakers Fail to Reach Budget Deal
U.S. Regulators to BofA: Obey or Else
U.S. Foreclosures Rise 33 Percent From June 2008 Read the rest of this entry »

Tags: Apple, Bank of America, Banks, Barack Obama, California, Donald Trump, Earnings, Fed, Foreclosures, Hedge funds, Henry Paulson, JP Morgan, Lawsuit, Merrill Lynch, Politics

WSF

Geithner optimism; Increased Fed powers under attack; Small business getting the healthcare plan shaft; California credit rating takes another hit; Justice Dept derivatives probe focusing on Markit; B of A trying to get Merrill investment bankers who bailed back?; DeTARPED JP Morgan’s tougher stand; Chrysler Financial repays TARP loan; GM ex-CEO makes a pay deal

Posted by WSF On July - 15 - 2009

Geithner sees signs of US and global recovery
Coalition to attack plan for Fed powers
Small Business Faces Big Bite
California Credit Rating Lowered Again as Budget Talks Progress
U.S. Tightens Its Derivatives Vise
Bank of America Said to Court Former Merrill Bankers Read the rest of this entry »

Tags: Autos, Bank of America, Bankruptcy, California, Chrysler, CMBS, Derivatives, Fed, GM, Intel, JP Morgan, Politics, TARP, Taxes, Tim Geithner, U.S. Treasury

WSF

California ills could hit us all; B of A balking at backstop fees? $BAC; $CIT hires bankrupcy counsel / still talking to regulators; Texas tax revenues down big time; Miami financial crunch

Posted by WSF On July - 13 - 2009

California ills could give US headache
SEC May Gain Expanded Powers to Prohibit Broker Pay, Wrongdoers
Bank of America Said to Balk at Paying Fee to U.S. for Backstop
CIT Group still in talks with regulators
CIT Hires Bankruptcy Specialist Skadden as Bond Access Wanes Read the rest of this entry »

Tags: Autos, Bank of America, California, CIT, Delphi, Goldman Sachs, Morgan Stanley, SEC

WSF

Cerberus apologizes and gives investors a menu of unappetizing redemption options; TARP watchdogs say taxpayers getting screwed on wt valuation; SEC: CA IOUs to be treated as securities; UBS not backing down; AIG bonus issue is back; Madoff won’t appeal; Citadel sues software firm in Goldman code download mess; GM bankruptcy exit

Posted by WSF On July - 10 - 2009

Contrite, Cerberus Looks to Appease Its Investors
Cerberus Partners Fund Being Restructured
TARP Watchdog Challenges Treasury On Warrant Repayments
SEC calls for Calif. IOUs treated as securities
California IOUs Spurned as Schwarzenegger State Shutdowns Begin
AIG Seeks Clearance to Release Bonuses
Citadel Group Sues Ex-Executives for Contract Breach Read the rest of this entry »

Tags: AIG, Bernie Madoff, California, Cerberus, Citadel, Goldman Sachs, Hedge funds, Politics, TARP, U.S. Treasury, UBS