Wall Street Folly

As expected the Senate passes its ill conceived health care bill; Goldman’s Lloyd Blankfein is Financial Times Person of the Year; Dimon, Blankfein and Mack heading to DC in Jaunary for the next round of Congressional inquisitions; Barclays Bob Diamond sells 1.8M shares for £5M; Senate votes to up debt ceiling; Morgan Stanley mints 212 new managing directors; Grassley probing Citi tax breaks; Buffett wants ResCap?; “Squawk Box” broker says U.S. hid evidence; Alexis Glick is leaving FBN

Posted by WSF On December - 24 - 2009
  • Senate Passes Legislation to Overhaul U.S. Health-Care System
  • Master of risk who did God’s work for Goldman Sachs but won it little love
  • Dimon, Blankfein, Mack Among First to Testify at Crisis Panel
  • Senate Votes to Increase U.S. Debt Ceiling by $290 Billion
  • Barclays’ Bob Diamond reveals £5m share disposal
  • Morgan Stanley Appoints 212 New Managing Directors
  • Grassley puts pressure on Treasury in tax dispute
  • Buffett’s back, Billionaire looks to lock up GMAC’s ResCap Read the rest of this entry »

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Barclays, Citigroup, Goldman Sachs, JPM Chase, Jamie Dimon, John Mack, Lloyd Blankfein, Morgan Stanley, Politics, Subprime mortgages

B of A’s general counsel in legal hot water over Merrill deal advice?; Blankfein and Dimon had tête-à-têtes with pay czar Feinberg; Corzine gets the boot as NJ governor; Reid noncommittal on health care bill this year; Frank wants to out firms thought to pose systemic risk; Buffett wants FNM tax credits too; Discover survey suggests lower holiday spending plans

Posted by WSF On November - 4 - 2009

  • BofA’s counsel had no ‘legal’ authority in Merrill deal
  • Blankfein, Dimon Met Feinberg Ahead of Pay Order, Records Show
  • Christie Ousts Corzine in N.J. Governor’s Race
  • Reid Won’t Commit to Passing Health Bill This Year
  • Frank Says Measure Will Require Naming Risky Firms
  • Buffett joins Goldman bid for Fannie Mae tax credits
  • Buffett’s Lower Burlington Breakup Fee Shows Confidence in Deal
  • US sen. asks health insurers about small businesses Read the rest of this entry »

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Compensation, Goldman Sachs, JPM Chase, Jamie Dimon, Lloyd Blankfein, Politics

After massive redemptions, Cerberus is looking for new blood to keep its fee machine going; Lehman’s European Administrator may claim $100B against parent; Barney Frank said to be in favor of broader audits of the Fed; Health bill longer odds now that Kennedy is gone?; Fed $14B bailout profit so far; Flash trading vs NYSE

Posted by WSF On August - 31 - 2009
  • Cerberus to Raise New Funds After Investors Pull $4.77 Billion
  • Lehman’s Europe Administrator May Claim $100 Billion
  • Frank Said to Back Broader Fed Audits
  • Kennedy Death Cuts Broad Health Bill Odds, Hatch Says
  • Raft of Deals for Failed Banks Puts U.S. on Hook for Billions
  • Fed makes $14bn profit on loans provided during financial turmoil
  • The Flash-Trading Thorn in NYSE’s Side Read the rest of this entry »

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WSF

Goldman, Deutsche Bank and others subpoenaed in Senate meltdown probe; Citigroup revving up to sell assets?; Health plan queasiness spreading; Fat fees hampering mortgage relief?; Unintended consequences of Goldman bonus bashing?; Will curbing speculators disrupt energy markets? Yes says Goldman; Ruth Madoff sued, again; No love for Carol Bartz Yahoo deal; Libor hits new lows

Posted by WSF On July - 30 - 2009
  • 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 »

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WSF

Pay Czar looking to redo high pay contracts; Citi between a rock and a hard place: A showdown with Phibro head (who could reap $100M from a contractual profit sharing payout) is brewing; Schumer wants high-frequency trading banned; Blue Dog Democrats threatening Health care deal; Taxing wealthy earners’ health care?; Kuwaiti trader charged by SEC said to commit suicide; 7 more banks fail; Uncle Sam poised to own 34% of Citi; Bernanke’s town hall meetings

Posted by WSF On July - 27 - 2009
  • U.S. Pay Czar to Rework Contracts Deemed High
  • Citi in $100 Million Pay Clash
  • High-Frequency Trading Faces Challenge as Schumer Presses SEC
  • ‘Blue Dog’ Democrats Hold Health-Care Overhaul at Bay
  • A Bid to Tax Health Plans of Executives
  • Al-Raya Chief Who Faced SEC Charges Is Found Dead
  • Seven Banks Fail, Making It 64 for ‘09
  • Citi ‘milestone’ as Washington takes 34% stake Read the rest of this entry »

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WSF

Risk fee coming for banks?; Pelosi says she has the votes to jam health plan through; Berkshire cut Moody’s stake; AIG bonuses on hold; Credit Suisse earnings; Danny Pang indicted; SEC proposes pay-to-play restrictions, and orders Ex-CEO of CSK Auto to return his bonus; CIT may do prepack after debt swap; Ford loss smaller than expected; Amazon buying Zappos

Posted by WSF On July - 23 - 2009
  • Obama Indicates He’s Willing to Consider Risk Fee for Banks
  • Pelosi Says She Has Votes to Pass House Health Plan
  • Berkshire Hathaway reduces stake in Moody’s
  • AIG Held Off Bonuses Planned for Last Week
  • Goldman Relents, but Not Chase
  • Credit Suisse Profit Rises 29% on Gains From Trading Read the rest of this entry »

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