Wall Street Folly

Lehman “alter ego” company used to get investments off its books; Syracuse students petition to prevent Jamie Dimon from speaking at graduation; Prosecutors naming more companies Galleon’s alleged insider trading ring profited from; AIG puts its pay czar compensation beef in writing; Donald Trump team’s casino bankruptcy exit plan picked over Carl Icahn’s; Consumer reports rips Lexus GX460 as unsafe; Twitter to start advertising

Posted by WSF On April - 13 - 2010
  • Lehman Channeled Risks Through ‘Alter Ego’ Firm
  • Dimon’s Syracuse Commencement Speech Fought in Student Petition
  • Morgan Stanley CEO calls for partnering with regulators and legislators
  • Galleon Insider Case Widens
  • AIG ’strongly objects’ to pay tsar’s restrictions on executive pay-outs
  • Donald Trump Beats Carl Icahn in Bankruptcy Battle for Casinos
  • Consumer Reports calls Lexus GX460 unsafe
  • Twitter to Start Rolling Out Advertising 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

AIG asset sale brings in another $15.5B; Icelanders vote down debt deal; No Greek bailout needed per IMF head; Fed wants to protect credit card holders by limiting fees; Dubai World lenders expect a proposal this week; Harrah’s is extending their debt; Bloomberg wants a soda tax

Posted by WSF On March - 8 - 2010
  • AIG, MetLife Reach Deal for Alico
  • Iceland Voters Reject Debt Deal
  • Greece will come through crisis without bailout, IMF head says
  • Fed proposes rule to limit credit card fees
  • Dubai World lenders await debt plan
  • Harrah’s to Extend $5.5 Billion CMBS Loan Maturities to 2015
  • Bloomberg Says a Soda Tax ‘Makes Sense’ Read the rest of this entry »

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AIG, Taxes

So much for Obama’s ‘Volcker Rule’; Citi looking to dump hedge fund business; Hedge fund assets slumped $2.85B in January; UK’s FSA says hedge funds aren’t so risky from leverage perspective; Trump vs Icahn in Atlantic City

Posted by WSF On February - 24 - 2010
  • ‘Volcker Rule’ Stalls in Senate
  • Citi in Talks to Sell Hedge-Fund Business
  • Hedge Funds Don’t Pose ‘Destabilizing Risk,’ FSA Says
  • Hedge-Fund Assets Fell $2.85 Billion in January as Stocks Fell
  • Trump Argues Name Can’t Be Used By Icahn for Casinos Read the rest of this entry »

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Barack Obama, Carl Icahn, Citigroup, Donald Trump, Hedge funds, Politics

Cautious Buffett expecting another market downturn?; LSE *HEARTS* high frequency traders; Gold sets 18 month high; Allan Sloan: Wall Street’s backsliding a year after Lehman’s fall; Goldman will become Eurotunnel’s biggest equity holder; Some tax cheats may be off the hook with Swiss / IRS deal; Feldstein op ed disses Obamacare deficits; M&A heating up with Kraft’s spurned Cadbury offer?; Speculation that Kerry Packer may look to buy U.S. casinos

Posted by WSF On September - 8 - 2009
  • Closely Watched Buffett Recalculating His Bets
  • LSE welcomes high-frequency traders as source of liquidity
  • Gold Rallies to 18-Month High on Dollar’s Weakness, Inflation
  • Greenspan Says Capital Requirements Must Be Raised
  • Allan Sloan: A Year After Lehman, Wall Street’s Acting Like Wall Street Again
  • Eurotunnel Says Goldman Fund Becomes Biggest Investor
  • Swiss Deal With I.R.S. May Hide Some Tax Cheats
  • Martin Feldstein op ed: ObamaCare’s Crippling Deficits Read the rest of this entry »

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WSF

“Problem banks” number over 400; Identity theft hits Bernanke family; B of A hiding behind lawyers?; AIG tock’s levitation act; Stanford still hospitalized with racing pulse; Too big to fail banks keep growing; Amaranth escapes SEC penalty; Chrysler agrees to accept some pre Chapter 11 liability claims; Trump setback in AC casino fight; iPhone China bound

Posted by WSF On August - 28 - 2009
  • Problem bank list tops 400
  • Bernanke Falls Victim to Identify Theft
  • Bank of America Told to Stop Hiding Behind Lawyers: Ann Woolner
  • Fed Raises Mortgage-Bond Purchases as Lacker Suggests Slowdown
  • A.I.G. Rises, and Many Ask Why
  • Stanford Remains Hospitalized After Pulse Hits 300 Before Court
  • Plea deal signals more charges in Stanford case-lawyer
  • Banks ‘Too Big to Fail’ Have Grown Even Bigger
  • No SEC Penalties in Amaranth’s Failure Read the rest of this entry »

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WSF

With so many Goldman haters out there, Blankfein tells employees to lay low, spend less; AIG has a new CEO; TARP profits?; Gas prices on the rise, threatening recovery; B of A succession: Let the jockeying begin!; Madoff victims pissed off over Trustee fees; Trump may be back in control at Trump Entertainment Resorts

Posted by WSF On August - 4 - 2009
  • Goldman Princes Told: Spend Like Paupers
  • AIG Selects Ex-Chief of MetLife as CEO
  • FDIC warns banks may need more home equity reserves
  • TARP profit claim bugs skeptics
  • Pump prices are on the rise
  • Bank of America Pays $33 Million to Settle Merrill Bonus Charges
  • Bank of America Hires Former Top Citigroup Executive
  • Bank of America CEO Scrum Begins as Lewis Revamps Management Read the rest of this entry »

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WSF

Executive compensation bill passes in the House; A look at how Goldman and BlackRock went to great lengths to win a PBGC money management contract (revoked on 7/20); Microsoft and Yahoo finally do a deal (bet $YHOO is wishing they could turn back the clock); No comment from Phibro after Obama decries pay package as “out of whack”; Oil Speculation limits?; $GM angling for more money from Uncle Sam?; Station Casinos Chapter 11

Posted by WSF On July - 29 - 2009
  • House Panel Passes Bill to Set Rules on Executive Compensation
  • How Firms Wooed a U.S. Agency With Billions to Invest
  • Microsoft, Yahoo! Change Search Landscape
  • Phibro mum after White House slams reported $100 million payday
  • Oil Speculation Limits Weighed
  • Stanford Receiver Seeks Clawback of $925 Million Read the rest of this entry »

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WSF

George Soros Op-Ed outlines his three steps to financial reform; Madoff sons knew about scam according to lawsuit by ex-employees; Donald Trump submits a casino debt restructing plan that would return him to owner

Posted by WSF On June - 17 - 2009

  • George Soros: My three steps to financial reform – FT op ed
  • Lawsuit alleges that Bernie’s sons knew all about the scam
  • Donald Trump submitted a restructuring plans for the bankrupt casinos that bear his name Read the rest of this entry »

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Bernie Madoff, Casinos, Donald Trump, George Soros, Hedge funds, Legal, Scandal, WSF

Steve Wynn “60 Minutes” interview ($WYNN)

Posted by WSF On April - 13 - 2009


Charlie Rose interviewed casino king Steve Wynn.  Among the topics, which of course included the difficulties that the casino industry currently faces, was his now famous elbowing of one of his paintings, La Reve, which he had sold to SAC Capital’s Steve Cohen:

Read the rest of this entry »

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Steven A. Cohen, Videos, WSF

A flying casino?: A possible alternate use of the huge Airbus A380

Posted by WSF On February - 14 - 2008

Prince Alwaleed Bin Talal is pimping out his new £160m A380 with £90m of renovations that will turn his new toy into a futuristic flying palace.    And another A380 may also get an extreme makeover by becoming a flying casino….

Airbus has been approached by potential
Asian buyers who are looking to turn its A380 “superjumbo” aircraft into a
flying casino, says the European aircraft-maker.

François Chazelle, who heads the Airbus executive and private aviation
division, said: “Discussions are under way, and not just with casino
operators.” Should the talks lead to an order soon, a fully-fitted casino A380
could be delivered between 2012 and 2017, he said.

 

Read the rest of this entry »

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Video: Sands Casino implodes and goes *POOF* in Atlantic City to make room for a new gaming project

Posted by WSF On October - 19 - 2007

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Videos

Will the online gambling ban in the US be repealed?

Posted by WSF On March - 15 - 2007

Yes, if Barney Frank has his way.

Barney Frank, the Democratic chairman of the powerful House financial services committee, is working on legislation to repeal the sweeping ban that was passed in Congress last year against online gaming, he told the Financial Times in an interview.

Mr Frank called the ban, formally known as the Unlawful Enforcement Gambling Act, one of the “stupidest laws” ever passed and said he wanted to “repeal” the law.

“I am working on legislation to cut back on this internet gambling thing….I think it’s preposterous,” he said, adding that he was considering some “innovative ideas”.

“I’m looking for ways, maybe we can make some money off of it,” he said, signalling that he could be considering a proposal that would make online gaming legal by both regulating – and taxing – the industry.

Repeal of online gaming ban sought - Financial Times

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Atlantic City: Corzine backs funding exception so that casinos don’t close again

Posted by WSF On July - 19 - 2006

Casino01Governor Jon Corzine said that he’d be in favor of a bill that would allow casinos in Atlantic City to remain open in the event that another budget crisis shuts down the government….

Corzine backs A.C. shutdown exception – The Press of Atlantic City

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