Wall Street Folly

• Goldman Tells Its Side of ‘09
• Volcker: Taxes likely to rise eventually to tame deficit
• Mr. Dimon Goes to Washington
• Greek banks plead for more aid in debt crisis
• Geithner Urges Europe to Revise Hedge-Fund Rule Plan
• Geithner to Meet With the Chinese Vice Premier
• Fliers up in arms about carry-on fee Read the rest of this entry »

Tags: Airlines, Baggage fees, CDS, China, Economy, Goldman Sachs, Greece, Mortgage meltdown, Paul Volcker, Sovereign debt, Taxes, Tim Geithner, U.S.. Treasury, VAT

• Morgan Stanley’s Roach Sees ‘False Alarm’ on China
• Greece to Press U.S. to Crack Down on ‘Speculators’
• Lehman Bankers’ Lock-Ins to Expire at Nomura
• Madoff victims may appeal directly to 2nd Circuit
• Employers still skittish on hiring
• Amazon cuts off Colo. affiliates because of tax Read the rest of this entry »

Tags: Amazon, Barack Obama, Bernie Madoff, Bubbles, China, Greece, Lehman Brothers, Morgan Stanley, Nomura, Politics, Taxes

Tags: Bank of America, Bernie Madoff, China, Galleon, Goldman Sachs, Hedge funds, Insider Trading, Interest Rates, Raj Rajaratnam, SEC, Tax Fraud, Toyota

Tags: Bubbles, China, CNBC, Hedge funds, Jim Chanos, Short sellers

• Contrarian Investor Sees Economic Crash in China
• Further Slide Seen in N.Y. Commercial Real Estate
• US Private Equity Fund-Raising Falls 68% To $95.8 Bln In 2009 Read the rest of this entry »

Tags: China, Crashes, Jim Chanos, New York, Private equity, Real Estate, Short sellers

Could the recently announced agreement to sell Hummer to Sichuan Tengzhong already be in trouble?  Chinese regulators may block the deal according to Bloomberg, recounting a report from Shanghai Securities News….. Read the rest of this entry »

Tags: Asset Sale, Autos, Bankruptcy, China, GM, Hummer, Politics

• Back from Harvard, El-Erian to manage fund for Pimco
• Khosla’s Strategic Value to Wind Down $600 Million Debt Fund
• Blackstone launches European property fund
• Morgan Stanley’s Roach Says China Must Raise Rates Immediately
• US smaller banks under funding pressure

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Tags: Banks, Blackstone, China, Credit Crunch, Hedge funds, Morgan Stanley

“All my new money goes to commodities and
China,” said Rogers, who co-founded the Quantum fund with George Soros in the
1970s and correctly predicted the start of the commodities boom in 1999. He
spoke at a seminar in Beijing yesterday.

“All the panic looks like a bottom,” he said. “I have bought in the last four
to five weeks. I’ve been buying shares in China for the first time in a long
time.”

Investor Jim Rogers Buys Chinese Shares as Market Hits `Bottom’ – Bloomberg

Tags: China, Commodities, Jim Rogers

If you want a top job in investment banking in China, you might want to break out your copy of "Chinese For Dummies" or those Chinese Berlitz tapes and study, study, study.  Richard Ong, Goldman Sachs’ co-head of investment banking is Asia, is having trouble making the grade over there due to Chinese spoken and written language requirements imposed by the government on CEO’s, deputy CEO’s and locally incorporated securities firms’ supervisory board heads:

Goldman Sachs Group Inc., the world’s most profitable investment bank, couldn’t name the co-head of investment banking in Asia as chief executive officer of its Beijing joint venture because his knowledge of Chinese was too weak, three bankers at the firm said.

Richard Ong, an ethnic Chinese born in Malaysia, didn’t write Chinese well enough to take a mandatory test for senior managers, said the bankers, declining to be identified as the matter is private. New York-based Goldman instead promoted Zha
Xiangyang, deputy CEO of its China joint venture, Goldman Sachs Gao Hua Securities Co., in May.

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Tags: China, Goldman Sachs, investment banking

According to Mike Milken, China is poised to overtake the U.S. economically this century, but in the short term, we should focus on Mexico :

“Our projections show the United States will be the world’s second-largest economy and India will be the third,” some time this century, said Milken, chairman of the Milken Institute, an economic research group in Santa Monica, California.

“The most important country in the short run to the United States, however, is Mexico,” Milken, 60, said in an interview to be broadcast this weekend on “Conversations With Judy Woodruff,” a Bloomberg television program.

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Tags: China, Mike Milken