Wall Street Folly

Tags: Apple, Books, Enron, Hamptons, Henry Paulson, iPad, Real Estate, TARP, U.S. Treasury

Tags: Barclays, Ben Bernanke, Bob Diamon, Carlyle Group, David Rubinstein, Fed, Henry Paulson, Nouriel Roubini, Tim Geithner, U.S. Treasury

• Goldman Sachs Reports 2009 Earnings Per Common Share of $22.13; Fourth Quarter Earnings Per Common Share were $8.20
• Obama to Propose New Rules on Banks’ Size, Trading
• Rep Issa: NY Fed AIG submissions “incomplete”
• US Urges Judge to Bar Geithner Role in AIG Lawsuit
• AIG Took Four Tries on Filing as Fed Asked to Withhold Data
• Fed’s Dudley: Opposes Move In Congress To Audit Rate Policy Read the rest of this entry »

Tags: AIG, Barack Obama, Conan O'Brien, Fed, Goldman Sachs, Jay Leno, John Edwards, Lawsuit, NBC, Politics, Scandal, Sovereign debt, Tim Geithner, U.S. Treasury, Warren Buffett

• Goldman Sachs Weighs Requirement for Charity
• Banks Brace for Bonus Fury
• Geithner Has Support of Obama, Democratic Lawmakers, Aides Say
• U.S. Bankers Are Fed Up With British Regulations
• Corzine Leaves $8 Billion Gap as N.J. Governor Readies Exit
• Dubai’s First Foreclosure May Open Floodgates in Worst Market
• Dimon Leading Dividend Race Pandit Sweats in New Test for Banks
• Goldman Looks to Crash ETF Party Read the rest of this entry »

Tags: AIG, Bonuses, Compensation, Dubai, Goldman Sachs, Jamie Dimon, Jon Corzine, JP Morgan, Movies, Tim Geithner, TV, U.S. Treasury

• Bernanke’s Confirmation Support Runs 3-1 in Favor in Senate
• Top hedge funds bet on big rise in yields
• AIG executives’ promises to return bonuses have gone largely unfulfilled
• Geithner-U.S. job growth unlikely before spring
• Stanford again seeks bail, Lawyers say he risks ‘breakdown’
• Moody’s warns of possible sharp sell-off in sovereign debt
• Rajaratnam Lawyer Opposes Request for Summer Trial on Galleon
• Buffett Sells Moody’s Shares for Sixth Time After Profit Drop
• Fortress’s Intrawest Said to Be in Talks on Buyout Loan Payment
• Microsoft Must Alter Word or Stop Sales, Court Says Read the rest of this entry »

Tags: AIG, Allen Stanford, Ben Bernanke, Bonuses, Fed, Fortress, Galleon, Hedge funds, Interest Rates, jobs, John Paulson, Microsoft, Moody's, Politics, Raj Rajaratnam, Tim Geithner, Trademarks, U.S. Treasury, Warren Buffett

• Geithner Said to Be Seeking TARP Extension Until Next October
• Greece Finance Minister Says No Risk of Default
• Jackson’s (W)Hole
• Morgan Stanley reshuffles to take on Goldman
• Morgan Stanley Ousts Petrick as Trading Chief, Promotes Porat
• Nomura to wind down Lehman fixed bonuses
• Apollo Investment plans to sell 10 million shares
• Barclays Says Lehman Brokerage Sale Gave It No ‘Secret’ Gain
• AIG General Counsel Kelly May Depart After Protesting Pay Limit
• Judge Approves CIT Group’s Restructuring Read the rest of this entry »

Tags: AIG, Apollo, Barclays, CIT, Dubai, GM, Lehman Brothers, Morgan Stanley, Nomura, Politics, Sovereign wealth funds, TARP, Tiger Woods, Tim Geithner, U.S. Treasury

• Jamie Dimon seen as good fit for Treasury
• BofA May Name Stopgap Chief If Board Needs More Time for Search
• Goldman’s Response to Questions About A.I.G.
• UK: Top bank traders face pay disclosure
• Investment Firm Splits in Two Over Internal Rifts
• Microsoft, News Corp. In Early Talks On Web Deal
• Would Bing switch really dent Google?
• G.E. and Vivendi Halt Talks Over Stake in NBC Read the rest of this entry »

Tags: Bank of America, Bonuses, Compensation, Goldman Sachs, Google, Hedge funds, Jamie Dimon, JP Morgan, Ken Lewis, Microsoft, Tim Geithner, U.S. Treasury

• Goldman Holders Miffed at Bonuses
• SEC told to improve ways it chooses probe targets
• Pequot Worker Told Therapist That Samberg Sought Tips
• House Attacks Fed, Treasury
• Commodities to Get Record $60 Billion, Barclays Says
• Giuliani Said to Consider Run for U.S. Senate Over Governorship
• Problem mortgages hit new high at 14 percent
• GM Says Auto Sales Rate May Be 10.8 Million in Sign of Recovery
• Zucker Says He Regrets Focus on Margins in Leno Shift
• Winfrey’s long goodbye Read the rest of this entry »

Tags: Art Samberg, Bonuses, Commodities, Compensation, GM, Goldman Sachs, Oprah, Pequot, Politics, Rudy Giuliani, SEC, Tim Geithner, U.S. Treasury

Timmy had kind of a tough day on the congressional hot seat, enduring slings and arrows.   Here’s one of the exchanges….

Tags: Politics, Stimulus, Temper, Tim Geithner, U.S. Treasury, Videos

Read the rest of this entry »

Tags: AIG, Compensation, Economy, Goldman Sachs, Tim Geithner, U.S. Treasury, Vide

• JPMorgan Third-Quarter Profit Surpasses Analysts’ Estimates
• Wall Street On Track To Award Record Pay
• London Bonuses May Rise or Match 2008 Payouts, McKinley Says
• BofA Emails Show Pique at U.S. Over Dividends
• Geithner Aides Reaped Millions Working for Banks, Hedge Funds
• AIG Advised to Limit Its Next Round of Bonuses
• AIG Execs Returned $19M Of $45M In Pledged Repayments Read the rest of this entry »

Tags: AIG, Bank of America, Bear Stearns, Bonuses, CIT, Citadel, Compensation, Intel, John Paulson, JP Morgan, Paulson & Co, Tim Geithner, U.S. Treasury, UBS

• Fed, Treasury to Scale Back Emergency Programs as Crisis Eases
• Fed’s Warsh’s Op Ed: The Fed’s Job Is Only Half Over
• Losses on Banks’ Big Loans: $53 Billion
• Lehman asks to unseal documents from Barclays probe
• Credit Suisse Group Selling $1 Billion Lehman Claim
• New S.E.C. Rule Heightens Risk of Insider Trading
• Accused Perot Staffer Led ‘79 Hostage Rescue Read the rest of this entry »

Tags: Allen Stanford, Banks, Credit Suisse, Fed, Insider Trading, Lehman Brothers, SEC, Tim Geithner, Twitter, U.S. Treasury

• Parsons Says Citigroup Will Be Able to Repay
• U.S. Said to Explore Selling Off Its Citigroup Stock
• U.S. Treasury Sec says tax increases not likely
• Bank of America CEO Says Rebound May Beat Forecasts
• SEC suffers further humiliation over BofA
• Bank of America Ruling Leaves SEC With Few Options for Pursuit
• A Tough Crowd on Wall Street
• For Obama, a Chance to Reform the Street Is Fading
• New York State Says Bankrupt Lehman Owes $1.2 Billion in Tax Read the rest of this entry »

Tags: Autos, Bank of America, Barack Obama, Citigroup, Foreclosures, GM, Lehman Brothers, New York, Politics, recession, SEC, TARP, Taxes, Tim Geithner, U.S. Treasury, Wells Fargo

• Geithner Wants Bankers’ Pay in Equity That Can Be ‘Clawed Back
• SEC officials promise changes after Madoff failure
• SEC Outlines Madoff Lessons
• Wells Fargo exec used Malibu Colony home lost by Madoff-duped couple, neighbors say
• Mack Steps Down as Morgan Stanley Chief After Shying From Risk
• Morgan, Under Mack, Lagged Behind Peers This Year
• For Gorman, a Test of His Leadership
• Harvard and Yale endowments suffer heavy losses
• Yale to Cut $150 Million Annually Through Fiscal 2014 Read the rest of this entry »

Tags: Allen Stanford, Bernie Madoff, Bloomberg, Bonuses, Compensation, Endowments, Harvard, James Gorman, John Mack, Microsoft, Morgan Stanley, SEC, Tim Geithner, U.S. Treasury, UBS, Wells Fargo, Yahoo, Yale

• The Madoff Files: A Chronicle of SEC Failure
• Will AIG Rein In Its Brash CEO?
• Spitzer’s Babe Slaps the Snobs
• Pot ‘Plantations’ on the Rise
• Geithner urges G20 to consider leverage restraints
• BofA, Wells Fargo will take California’s IOUs
• Turner’s ‘Tobin Tax’ Proposal Criticized by Kaufman, Ferguson Read the rest of this entry »

Tags: AIG, Allen Stanford, Bank of America, Berkshire Hathaway, Bernie Madoff, Eliot Spitzer, Hookers, marijuana, Tim Geithner, U.S. Treasury, Wells Fargo

• Paulson’s Calls to Goldman Tested Ethics
• Effort to Rein In Pay on Wall Street Hits New Hurdle
• Pequot Trading in Google, Cox, Premcor Sparked Warnings to SEC
• Dimon’s Jubilee
• Geithner asks Congress for higher US debt limit
• Buffett’s Berkshire Adds Corporate Debt as Stock Purchases Drop Read the rest of this entry »

Tags: Blackstone Group, Goldman Sachs, Henry Paulson, Jamie Dimon, JP Morgan, Pequot, SEC, Tim Geithner, U.S. Treasury, Warren Buffett

Oh to have been a fly on the wall at this meeting:  Apparently frustrated over resistance to the Obama administration’s plans to revamp financial regulations, Treasury Secretary Tim Geithner treated an all-star cast of regulators attending a Treasury Department meeting last Friday to  an expletive deleted laced rant  according to the Wall Street Journal.  It’s not exactly clear what naughty words the potty mouthed Geithner spewed at the meeting, but they were apparently plentiful  — although supposedly not pointed at anyone specific (uh huh) –  that included Ben Bernanke, Sheila Bair, Mary Schapiro and Gary Gensler among others. Read the rest of this entry »

Tags: Ben Bernanke, CFTC, Did he really say that?, FDIC, Fed, Mary Schapiro, Politics, SEC, Sheila Bair, Tim Geithner, U.S. Treasury

• Greenspan Says 2.5% Growth Possible in Third Quarter
• Housing could take another turn downward: Greenspan
• Transcript: Treasury Secretary Timothy Geithner and Alan Greenspan
• Roubini Says Commodity Prices May Rise in 2010
• Wall Street profits from trades with Fed
• Goldman Sachs’ reputation tarnished Read the rest of this entry »

Tags: Alan Greenspan, Barclays, Bob Diamond, Citadel, Citigroup, Economy, Fed, Goldman Sachs, Google, Microsoft, Nouriel Roubini, Tim Geithner, U.S. Treasury, UBS, Yahoo

This is a very funny lampooning of Tim Geithner, his handling of the economic crisis and his inability to sell his Larchmont, NY home. Yes, that picture really is the home’s bathroom, which The Daily Show’s John Oliver proclaims is “ghastly”.

Read the rest of this entry »

Tags: Economy, Jon Stewart, Real Estate, The Daily Show, Tim Geithner, U.S. Treasury

Goldman Sachs is now completely free of its TARP yoke, agreeing to pay the government $1.1 billion for the warrants it was forced to issue when the firm agreed not-so-willingly to accept TARP funds.  The return to Uncle Sam, combined with dividend payments on the TARP preferred: 23%.

Lloyd Blankfein commented: Read the rest of this entry »

Tags: Credit Crunch, Fed, Goldman Sachs, Meltdown, Politics, TARP, U.S. Treasury

• Geithner sees signs of US and global recovery
• Coalition to attack plan for Fed powers
• Small Business Faces Big Bite
• California Credit Rating Lowered Again as Budget Talks Progress
• U.S. Tightens Its Derivatives Vise
• Bank of America Said to Court Former Merrill Bankers Read the rest of this entry »

Tags: Autos, Bank of America, Bankruptcy, California, Chrysler, CMBS, Derivatives, Fed, GM, Intel, JP Morgan, Politics, TARP, Taxes, Tim Geithner, U.S. Treasury

• Citi reshuffle to usher in more turmoil
• Geithner Seeks ‘Difficult-to-Evade’ Derivatives Laws
• El-Erian Says Geithner Shares an ’A’ With Bernanke for Effort
• Roubini Sees Six More Months of Recession, ‘Shallow’ Recovery
• Few Economists Favor More Stimulus Read the rest of this entry »

Tags: Citigroup, Derivatives, Economy, Mohamed El-Erian, Nouriel Roubini, Pimco, Ross Mandell, Sky Capital, Tim Geithner, U.S. Treasury

• Contrite, Cerberus Looks to Appease Its Investors
• Cerberus Partners Fund Being Restructured
• TARP Watchdog Challenges Treasury On Warrant Repayments
• SEC calls for Calif. IOUs treated as securities
• California IOUs Spurned as Schwarzenegger State Shutdowns Begin
• AIG Seeks Clearance to Release Bonuses
• Citadel Group Sues Ex-Executives for Contract Breach Read the rest of this entry »

Tags: AIG, Bernie Madoff, California, Cerberus, Citadel, Goldman Sachs, Hedge funds, Politics, TARP, U.S. Treasury, UBS

Tags: Banks, Barack Obama, Ben Bernanke, Fed, Hedge funds, Jim Chanos, Kynikos, Politics, Tim Geithner, U.S. Treasury

How long before the yelling and screaming out of Congress?: The NY Post says that Bank of America has been making millions in bonus payouts (or whatever you want to call them) to retain talent that they’d otherwise lose to the likes of deep pocketed foreign banks who are increasingly willing to pony up: Read the rest of this entry »

Tags: Bank of America, Bonuses, Investment bankers, Ken Lewis, Merrill Lynch, Politics, TARP, U.S. Treasury