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Father of the year? Probably not. Second-best Justice Department employee of the year? You bet.One possibly neglectful father’s efforts have been a $36.65 billion—and counting—disaster for Wall Street. Read more »

Write-Offs: 12.19.14

$$$ Citigroup Says Instagram Is Worth $35 Billion [Dealbook]

$$$ Elizabeth Warren Gets Her Own Folksong on Park Avenue [Bloomberg]

$$$ Russia’s parliament rushes through bill boosting banking capital [Reuters]

$$$ BlackBerry is gaining momentum: CEO [CNBC]

$$$ TSA returns lost luggage to woman 20 years later [UPI] Read more »

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asu-wisconsin-3Arizona State isn’t just the top party/baseball school in the land anymore. It’s also now probably number one in the “Most Business Schools” ranking. Read more »

  • 19 Dec 2014 at 3:53 PM

Bonus Watch ’14: Countrywide Whistleblowers

angelo_moziloThe total payouts to whistle-blowers in the federal government’s $16.65 billion settlement with Bank of America over its mortgage business may approach $170 million. Edward O’Donnell, a former executive at Countrywide Financial, and Robert Madsen, a former property appraiser for the bank already have been identified as two of the whistle-blowers that federal prosecutors gave credit to in the settlement agreement with Bank of America. The other two whistle-blowers entitled to a share of the settlement dollars being paid out by Bank of America are Shareef Abdou, an executive in the bank’s operations group, and the firm Mortgage Now, a New Jersey mortgage lender, according to court filings. The filings did not disclose the value of the settlement payouts, but the whistle-blowers, all of whom filed complaints under the Federal False Claims Act, are collecting payments equal to 16 percent to 17 percent of specific portions of the $16.65 billion, according to court filings and people briefed on the matter but not authorized to speak publicly. [Dealbook]

jefferiesAnd here’s what he’s doing about it! Read more »

No panic on this face.The Russian president neither knows nor cares about what you’d call his country’s current self-inflicted economic malaise. You want to use the word “crisis”? Go ahead—especially if you’re outside of the jurisdiction of his secret police. Just know that he’s not a big fan of that word. He’d call it something more like a temporary unpleasantness brought about by the unjust actions of everyone who is not Vladimir Putin. Read more »

  • 19 Dec 2014 at 1:16 PM

The Indomitable Dov Charney Strikes Again

He'll get it back.Having his DNA, in all of its many forms, all over American Apparel isn’t enough for its former CEO. So even if the last alternative investor he worked with to take the power back disappointed him with a pink slip, he’s not going to let it stop him from trying again. Read more »

  • 19 Dec 2014 at 11:32 AM
  • Banks

UBS Pretty Sure Its Human Rights Are Being Violated

We're Swiss!!!From where it sits (Zürich), it seems pretty damned inhumane to the former Union Bank of Switzerland to make it fork over €1.1 billion for doing what a Swiss bank does. And it’s not afraid to say so. Read more »