Wall Street Folly

• Obama to Castigate Wall Street
• Greek 2009 Deficit Was Wider Than Expected
• Greek bond yields hit in spite of debt talks
• UBS, Credit Suisse May Be Split in Crisis, Panel Says
• UBS, Credit Suisse Must Hold 30 Days of Liquid Assets
• Senators Closer to Bridging Partisan Divide on Finance Overhaul
• Senate Derivatives Bill Faces Battle on Bank Spinoff Provision
• U.S. Said To Weigh AIG Exit Through Two Years of Share Sales
• Quattrone Reunites With Credit Suisse Investment Banker Boutros
• Businessweek Wears New Mantle Read the rest of this entry »

Tags: AIG, Barack Obama, Bloomberg, Credit Suisse, Financial reform, Frank Quattrone, Greece, Politics, Sovereign debt; Switzerland, UBS

When one investment banking door closes, another one opens: While the major investment banking firms are retrenching, firing investment bankers left and right, boutiques are starting up and  hiring. The Financial Times reports that back in the game former Credit Suisse  uber banker Frank Quattrone's Qatalyst Group is opening a boutique branch in London.  And a couple of other bankers out of Lehman Brothers — Michael Tory and Benoit d'Angelin –  have started up their own boutique firm called Quattro Partners….

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Tags: Frank Quattrone

After being a good boy for the year required by the government, all remaining charges against former Credit Suisse banker Frank Quattrone have been officially dismissed:

The decision today came four years after Quattrone was accused of obstructing
justice and 17 months after his conviction for the crime was reversed. Last
August, the government agreed to drop its case if Quattrone, 51, didn’t break
the law for a year.

“The fed’s criminal casebook is now closed,” said Jacob Frenkel, a former
federal prosecutor now in private practice in Rockville, Maryland. “With the
one-year clock having run, there is nothing left hanging over Mr. Quattrone’s
head.”

Frank Quattrone’s Criminal Case Is Formally Dismissed – Bloomberg

Tags: Credit Suisse, Frank Quattrone, investment banking, Legal

• Private equity firms close in on Wasserstein’s ALM
• Credit Suisse And Quattrone: Dueling Sequels

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Tags: Bruce Wasserstein, Credit Suisse, Frank Quattrone

Frank Quattrone is back in the public eye again, this time stepping out share his insights with venture capitalists  as the inaugural speaker of the Western Association of Venture Capitalists’ 2007 "distinguished speaker" series in Menlo Park, Calif on January 24. We wonder if an announcement about his future plans — the betting is that he’ll be opening his own boutique — will be made soon:

"The mission of WAVC continues to focus on bringing West Coast venture capitalists together to network, share insights and, of course, discuss deals" through the speaker series, the group’s incoming President Sonja Hoel Perkins, managing director with Menlo Ventures, said in a prepared statement.

Quattrone will join such notable predecessors in the series as New York Gov. Eliot Spitzer, who built his reputation crusading against Wall Street conflicts of interest; eBay Inc. (EBAY) Chief Executive Meg Whitman; and Cisco Systems Inc. (CSCO) Chief Executive John Chambers.

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Tags: Frank Quattrone

According to a Fortune Magazine article, the buzz is that Frank Quattrone is interviewing and may be back in business soon.  Rumor has it he’s starting a new firm with some of his old Morgan Stanley buddies, including George Boutros and Bill Brady who are both big money makers with Credit Suisse….

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Tags: Credit Suisse, Frank Quattrone, Morgan Stanley

Charlie Gasparino just reported on CNBC that Frank Quattrone has millions more reasons to be ebullient the day after his huge legal victory.  Apparently if all of the charges were dropped, CSFB had agreed to pay him all of the cash and stock compensation that he left on the table.  So if he’s a good boy for a year and the charges are dismissed pursuant to the deferred prosecution agreement, he’ll get all he’s due — said to be around $120 million.

Tags: Frank Quattrone

All the finance world is abuzz with Frank Quattrone’s spectacular escape act from the jaws of the legal system. There’s ample speculation about what he might be up to next and how successful he might be.  Here are some of the morning headlines:

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Tags: Frank Quattrone

It’s finally over: Frank Quattrone was able to declare just about total victory today over the feds as he was for all intents and purposes cleared to resume his life and his career.  U.S. District Court Judge George B. Daniels ok’d a one year deferred prosecution agreement, where charges will be dismissed if Quattrone stays trouble-free for a year.  Quattrone said a few restrained words outside the court — "I’m very pleased this case will be concluded and I look forward to the formal dismissal of all charges".  He also said "I plan to resume my business career." 

And what of the government?  They get a big black eye for bringing — and losing — this one.

Tags: Frank Quattrone

Mercury News provides a timeline in the Quattrone saga that could be coming to an end soon:

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Tags: Frank Quattrone

CNBC just reported that former CSFB banker Frank Quattrone’s legal issues could finally be settled next week.  A hearing is scheduled for Tuesday.

Tags: Frank Quattrone

The NASD has withdrawn all charges against Frank Quattrone, former head of Credit Suisse First Boston’s technology group, related to alleged misallocation of ipo’s during the tech bubble between July 1998 and December 2001.  It’s one more cloud that’s been lifted.  The question still remains as to whether the feds will try him again or if they”ll just drop it.  We’re betting they’ll drop it…

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Tags: Frank Quattrone

Lawyers for former Credit Suisse investment banker Frank Quattrone are in talks with government to avoid a third obstruction of justice trial (and a potential third embarrassment for the government)….

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Tags: Frank Quattrone

In a move that may make it possible for Frank Quattrone to return to the securities business if there’s no new trial, the SEC has overturned the lifetime ban that the NASD levied against him 2004.  This follows the federal appeals court decision to overturn his conviction on obstruction-of-justice and witness tampering charges.

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Tags: Frank Quattrone

Former CSFB investment banker Frank Quattrone’s obstruction of justice conviction was overturned by a federal appeals court, and he’s been granted a new trial.  Maybe the the third time will be a charm…

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Tags: Frank Quattrone