• Trader’s ‘Nice Little Kiss’ Tests Reach of Regulators
  • 3 sue Bank of America alleging discrimination
  • Stanford asks for new team to defend him
  • Obama to Announce Expanded Offshore Oil Drilling Plan
  • Home prices inch up, but analysts fear rebound is fading
  • Schottenfeld Pays $1.2 Million to End SEC Insider-Trading Suit
  • BofA Hires Staff, Leans on Merrill Lynch to Expand Outside U.S. Read the rest of this entry »

Tags: , , , , , , , , , , ,

  • Paulson’s $32 Billion Funds Prompt Too-Big-to-Succeed Concerns
  • Deutsche Bank to Add Staff Targeting New Hedge Funds in Asia Read the rest of this entry »

Tags: , , , ,

  • Greece ‘Dress Rehearsal’ for U.S., Deutsche Bank Says
  • Study finds the wealthy prefer Conn. to N.J.
  • Hedge Fund BlueGold Capital Says Liquidation Rumors False Read the rest of this entry »

Tags: , , , , , , , ,

  • Madoff’s ‘Prisoner’ Watch, Mets Jacket Boost $900,000 N.Y. Sale
  • Madoff’s ill-gotten gains sold off
  • Bank of temerity
  • Hedge Funds Struggle
  • UBS’s Debt Trading, Cause of Near Collapse, Is Key for Revival
  • Deutsche Bank CEO Calls For Careful Global Bank Regulation
  • Gold hits record on weak dollar, technical momentum
  • JPMorgan Said to Be in Talks to Buy Remainder of Cazenove Stake
  • Sands to Put Macau Focus On Foreigner
  • GM Said to Repay Government $6.7 Billion Sooner Than Required Read the rest of this entry »

Tags: , , , , , , , , , , ,

  • Deutsche Bank Boosts Banker Pay After Record Sales and Trading Share Business Exchange
  • Citadel Securities Head D’Souza Leaves After a Year
  • F.D.I.C. Chief Criticizes Reform Plan
  • Tanking Gov. Paterson may ‘reassess’ his election bid
  • Sex show host Robin Byrd forks over $500 to Sen. Schumer’s campaign Read the rest of this entry »

Tags: , , , , , , , , ,

  • Geithner: Wall Street pay “offensive”
  • Morgan Stanley Profit Beats Estimates on Investment Banking
  • Buffett Says Wall Street Pay Must Have ‘Downside’
  • U.S. bailout program increased moral hazard: watchdog
  • TARP ‘Extremely Unlikely’ to Yield Taxpayer Returns, Audit Says
  • BofA knew of Merrill losses in November: report
  • Bear Manager Cioffi Redeemed $2 Million From His Fund Read the rest of this entry »

Tags: , , , , , , , , , , , , ,

  • Bank of America to Pay for Merrill Backstop, Faces SEC Trial
  • SEC Gets Tougher With Bank of America
  • Amaranth Advisors Seeks at Least $350 Million From Touradji
  • F.D.I.C. May Borrow Funds From Banks
  • Fed to Miss Review Deadline
  • AIG banks that Hank gets it out of the tank
  • Gender bender at RBC
  • Venezuela says to pay $5 bln oil service debts Read the rest of this entry »

Tags: , , , , , , , , , , , , , ,

  • SEC, CFTC May Sharpen Rules on Market Manipulation
  • Schumer seeks SEC funding reform
  • No Pity For Citi
  • Governor Paterson says bonuses paid to Wall Street financial executives were good for state
  • Buffett’s Berkshire Cuts Moody’s Stake Second Time in 2 Months
  • S&P Parent McGraw-Hill, Moody’s Tumble on Lawsuit
  • Deutsche Bank Chief Says Lenders Learned From Crisis
  • Gold May Advance on Higher Prices, Weaker Dollar, Survey Shows
  • Gold may touch $1,200 by end December – official Read the rest of this entry »

Tags: , , , , , , , , , , , , , ,

  • Senate Probes Banks for Meltdown Fraud
  • Citigroup ‘Moving Extremely Fast’ on Asset Sales
  • New Poll Finds Growing Unease on Health Plan
  • Lucrative Fees May Deter Efforts to Alter Troubled Loans
  • Obama Sees ‘Beginning of the End’ of U.S. Recession
  • Goldman Says Curbing Speculators May Disrupt Markets
  • Goldman Sachs Hatred Might Cost You Your Bonus: Jonathan Weil
  • Key US Dollar Libor Rate Falls To New Record Low Read the rest of this entry »

Tags: , , , , , , , , , , ,

  • The Fed’s Exit Strategy
  • Big Estimate, Worth Little, on Bailout
  • Obama hits out at unrepentant Wall Street banks
  • Deutsche Bank Fires Two in Spying Probe
  • Morgan Stanley Picks DiMaio for Interest-Rate Unit Read the rest of this entry »

Tags: , , , , , , , , , , ,

  • BofA Merrill to echo Citi move by promoting key dealmakers
  • California IOUs Sought by Souvenir Hunters, Investors
  • Earnings Drop Worldwide as Job Losses Hurt Consumers
  • Ex-Goldman programmer out on bail in theft case
  • Goldman Trading-Code Investment Put at Risk by Theft
  • NYSE Error Keeps Goldman Off Program Trading List Read the rest of this entry »

Tags: , , , , , , , ,

  • GM CDS settlemt time!
  • Boaz Weinstein is back
  • Are nich ETFs dangerous?

Read the rest of this entry »

Tags: , , , , , ,

Andrew Luan used trade structured credit bonds at Deutsche Bank before the shit hit the fan and he lost his job.  Now he's turned lemons into lemonade, taking tourists on walking visits to the sites of the Wall Street meltdown.  For $40 he'll  show you where it all happened and give you the inside scoop: Lehman Brothers, the NY Stock Exchange, AIG and the charging Wall Street Bull….

Read the rest of this entry »

Tags: , ,

Busted Madam Kristin Davis

The "best little whorehouse on Wall Street": Busted Manhattan madam Kristin Davis who's said to be writing a tell all book, is starting to open up.  She's let the folks at 20/20 have a peek at a computerized high profile client list — one that she shared with prosecutors (who at least so far aren't interested in prosecuting any of the johns) –  which included meticulous notes detailing names,  credit card numbers and mobile phone numbers.  She'll be interviewed tonight at 10pm where she'll talk about how many of her clients would even use corporate plastic charged to disguised vendor names designed to get by firm accountants to pay for her $2K an hour hookers. 

"Some of these guys, I was invoicing on corporate credit cards," she
said. "I was writing up monthly bills for computer consulting,
construction expenses, all of these things, I was invoicing them
monthly so they could get it by their accountants," Davis said.

And while the press release surrounding her 20/20 appearance didn't name specific Johns' names — she hasn't yet decided if they'll be released publicly — they did tantalize us with some of the firms that they come from, including Goldman Sachs, JP Morgan, Deutsche Bank, Merrill Lynch, Lehman Brothers, law firm Cravath Swaine Moore, and "the CEO of one of the largest private equity firms".  Hmmmm.  Here's the description of some of them:

Read the rest of this entry »

Tags: , , , , , ,

  • Buffett Says the U.S. Is in Midst of an ‘Economic Pearl Harbor’
  • Hedge Fund Fees Too High?
  • Ackermann Warns Banks Face 'Fragile Situation' as Economy Slows
  • ‘Time to Sell’ Treasuries, Biggest Korean Fund Says

Read the rest of this entry »

Tags: , ,

Deutsche Bank takes a billion dollar corporate bond hit

Posted by WSF On December - 12 - 2008

According to the WSJ, a proprietary Deutsche Bank trading group headed by Boaz Weinstein got hit to the tune of $1 billion on under water corporate bonds.  Exacerbating the loss was a leverage reduction effort at the bank that forced traders to sell into the market turmoil.

Deutsche Bank Lost $1 Billion on Bond Bet – WSJ

Tags: ,

With all of the heightened fears over the stability of financial stalwarts like Morgan Stanley and Goldman Sachs in the last few days, scared hedge fund clients have been yanking their funds for more players deemed more secure.  That’s played directly into the hands of Jamie Dimon’s and JP Morgan who fortuitously picked up Bear Stearn’s prime broker business when they swallowed that firm.  They’ve been seeing  inflows of "billions of dollars a day" — so much cash that its even caused a bottleneck in setting up new accounts.  Other firms like Deutsche Bank, BNP Paribas, Citigroup and Credit Suisse are also seeing a surge of new money.
Funds Flee Morgan, Goldman for JP Morgan – NY Post

Tags: , , , , , , , , ,

Leveraged loans could come back to haunt some of the banks that sold them:  Citigroup and Deutsche bank
may have announced billions in loan saies to private equity firms, but as it
turns out, according to securities filings, balance sheet risks still remain
that could cost them if the market really tanks.   According
to the Financial Times:

Read the rest of this entry »

Tags: , ,

Goldman Sachs is taking an over 4 point hit in pre-market trading thanks to a downgrade from Deutche Bank’s Mike May and an earnings estimate cut by Opco’s Meredith Whitney…..

Read the rest of this entry »

Tags: ,

Wow. Times really are hard.  Deutsche Bank is really turning the screws on bankers’ expenses.  According to the Times of London, hookers, strippers and the like are now verboten (they’re no longer reimbursable expenses) even if they’re for bonding outings with clients.  But there are even more indignities:

Second-class rail travel will be the norm
in the United States, while in Britain first-class tickets may be bought only
for journeys of more than two hours, and in Germany for trips longer than an
hour. Taxi trips during a bus or Tube strike will be repaid only with the
explicit approval of a banker’s line manager, and similar permission from on
high is required if lunch with a client is going to cost more than €65 (£52)
per person (the threshold may have to be raised a bit in London).

And if this sounds a world away from the banker’s archetypal business trip of
penthouse suites and VIP lounges, it gets worse: Deutsche Bank employees
arriving on an early flight are now barred from expensive early hotel check-ins
and instead are expected to shower and shave at the airport.

Furthermore….

Read the rest of this entry »

Tags: , ,

Deutsche Bank CEO to Citigroup: Thanks, but no thanks.

Posted by WSF On December - 5 - 2007

Along with most everyone else, Joseph Ackerman doesn’t want the top job at Citigroup.  So the search goes on…..

Josef Ackermann, chief executive of
Deutsche Bank, has turned down an approach from Citigroup about taking charge of
the US bank, underlining the lack of high-profile external candidates for the
job.

Mr Ackermann was asked if he would be
interested in becoming Citigroup’s chairman and chief executive following the
resignation of Chuck Prince. He “was approached, but said he was not
available”, according to someone familiar with the matter.

Read the rest of this entry »

Tags: ,

NY Attorney General Andrew Cuomo is starting a probe of Wall Street firms and their roles in the sub-prime mess:

New York state prosecutors have sent
subpoenas to several Wall Street firms seeking information related to the
packaging and selling of debt tied to high-risk mortgages, people familiar with
the matter say, the latest legal woe to hit the stressed industry.

The subpoenas, sent by the office of New
York state’s attorney general, Andrew Cuomo, are broadly written and request
information from firms including Merrill Lynch & Co., Bear Stearns Cos. and
Deutsche Bank AG, people familiar with the matter say.

The review, part of a broader investigation
into the mortgage industry, is examining how adequately the investment banks
reviewed the quality of mortgages before packaging them into products that were
then sold to investors, these people say. The subpoenas also requested
information about how the debt was pooled into securities, including the banks’
relationship with credit-rating firms.

Wall Street Firms Are Subpoenaed – Wall Street Journal

Tags: , , , , ,

Mike Mayo, the Deutsche Bank analyst whose tough questions directed at
Merrill CEO Stan O’Nea
l set off a firestorm during the earnings conference call
put out a note in reaction to his likely departure:

Read the rest of this entry »

Tags: , ,

VIDEO

TAG CLOUD

RECENT

Sponsors

Contact Us | Twitter ID | RSS | Feedblitz

  • Charles Tyrwhitt wine.com Apple iTunes

Twitter