March 2007

  • Carl Icahn

    Icahn Says WCI Chief ‘Not Qualified’ While Chief Forced To Humilatingly ‘Review’ Icahn’s Bid

    Carl Icahn really does seem to be in full-out barbarian mode with his bid for WCI Communications. Recall that words like “corporate raider” and “barbarian” were coined, for the most part, by defenders of corporate management against outsiders like Icahn who sought to oust the managers. We have no doubt that something like these terms […]

    / Mar 14, 2007 at 11:28 AM
  • Wall Street

    Fixed Income and Equities Traders Down, Structured Products Up, And The Coming Math Teacher Shortage

    MarketWatch has a report on the latest hiring trends on Wall Street. It’s like reading the first chapter of Frank Partnoy’s FIASCO. Structured products are back, baby! Among the most sought-after positions are in capital markets. Bankers and traders who have experience structuring collateralized debt obligations, or CDOs, are in high demand to feed departments […]

    / Mar 14, 2007 at 11:17 AM
  • Warren Buffett

    Richest Man In Mexico Hating On Gates, Buffett and Santa Claus

    It’s a sad state of affairs when you have to go all the way to Mexico to find an unapologetic, Ayn Rand, Gordon Gekko style wealthy capitalist to pronounce anathema on charity and sing the praises of making money and building business. But that’s where we are. Our guys—Bill Gates and Warren Buffett—are all about […]

    / Mar 14, 2007 at 10:20 AM
  • insider-trading

    Famous Insider Trader Says Insider Trading Laws Are Dumb

    R. Foster Winans isn’t just some ordinary insider trader. He wasn’t a guy at a company trading in advance of the company’s new product announcement or a merger agreement. He wasn’t a guy working at a brokerage trading in advance of an analyst recommendation or front-running client orders. Winans more or less invented an entirely […]

    / Mar 14, 2007 at 9:32 AM
  • Amaranth, Brian Hunter, Hedge Funds

    Brian Hunter: The Hunt Begins Anew?

    The energy trader who brought down hedge fund giant Amaranth with his bets on natural gas futures is “said to be planning an energy-focussed hedge fund,” according to senior TheStreet.com writer Mark DeCambre. (You might recall that we reported this rumor back when Brian Hunter was allegedly spotted in New York City’s Sparks in February.) […]

    / Mar 14, 2007 at 9:03 AM
  • Opening Bell

    Opening Bell: 3.14.07

    GMAC set to receive 1 bln usd from GM; warns on US mortgage sector (Forbes) We don’t really believe the numbers, but GM claims to have made a profit of $950 million in its most recent quarter. However, the company took in an extra $770 million associated with the sale of 51% of GMAC, its […]

    / Mar 14, 2007 at 8:26 AM
  • Greenlight Capital, Hedge Funds, Subprime Mortgages

    Write-Offs: 03.13.07

    $$$Suits! [Banker’s Ball] $$$Lehman 20% into D.E. Shaw [FT] $$$Speaking of Lehmans (and Lehmans and Lehmans and Lehmans). [SuperMogul] $$$Dispatches from the lady who *wasn’t* on 24 last night (wink, wink). [WallStrip]

    / Mar 13, 2007 at 5:42 PM
  • Harvard, MBAs

    Rapacious Banks Can’t Get Enough o’ the B-Schoolers, Who Wonder When People Started Buying that B-School’s More Than Just 2 Additional Years of Getting High

    We kid, of course. Some of our best friends are in b-school! (But only because their parents told them they had to get a graduate degree, and law school’s just so insufferably long.) Regardless of its merits, there’s good news: you might actually make some money out of this racket! Salaries and signing bonuses for […]

    / Mar 13, 2007 at 5:20 PM
  • Wallstrip

    Breaking: WallStrip Chick Denies Being In Small, Dark Basement Room With Jack Bauer

    Lindsay Campbell was not on ’24’ last night, according to a well-placed source who happens to be Lindsay Campbell. She still has not explained what she was doing last night while the episode aired. (It’s live or something righ? isn’t that why it happens in boringreal-time?) So we’re not sure whether she really has plausible […]

    / Mar 13, 2007 at 4:59 PM
  • Hedge Funds

    Hedge Funds Not Giving Enough To Politicians, Politicians Surprisingly Determined To Change That

    Did you watch today’s hedge fund hearings on Capitol Hill? Probably not. Well the most remarkable thing about them wasn’t anything that went on at hearings. It’s that the hearings were happening at all. The hedge fund industry seems to be operating quite nicely, especially in light of the orderly dissolution of Amaranth. So why […]

    / Mar 13, 2007 at 4:17 PM
  • CNBC, TV

    A Million Dollar Opportunity

    Are your dreams haunted by the image of Tim Sykes? Do you stay up nights wondering what it would be like to be in the same room as that smoking piece of man meat, CNBC’s Carl Quintanilla? Have you been jonesing to take a ride out to scenic Englewood Cliffs, NJ? Well dream, wonder and […]

    / Mar 13, 2007 at 4:13 PM
  • legal, Merrill Lynch, sex

    Merrill Sex Case Yields Tough Battle, Puny Win [Bloomberg]

    / Mar 13, 2007 at 3:10 PM
  • Jeffrey Epstein, legal, sex

    As It Turns Out, Jeffrey Epstein’s Case Is Unusual

    Remember Jeffrey Epstein? Just in case last summer’s nastiness has escaped your mind here’s a quick refresher. Epstein is a mysterious Palm Beach money manager. Last year he was accused of soliciting prostitution. The charges could have been much worse. His dream team of high powered lawyers hit the sunshine state and headed-off far more […]

    / Mar 13, 2007 at 2:04 PM
  • Goldman Sachs

    What’s Up With Those Goldman Fees?

    The boys over at Deal Journal (and not sure what that is, check out Bess’s interview with editor Dana Cimilluca) have been pouring through the Goldman Sachs quarterly report. Or, you know, kind of flipping through it for stuff relevant to their beat, mergers and acquisitions. And they’ve come up with something very, very surprising–Goldman […]

    / Mar 13, 2007 at 1:37 PM
  • video, Wallstrip

    WallStrip Chick Held At Gun Point…By Jack Bauer

    Important Update: We imagined it all, apparently! Lindsay finally got back to us and denied everything. Last night’s episode of Fox’s “24” featured our favorite bikini clad financial video blogger all suited-up as a Russian consulate employee who got held at gun-point by CTU agent Jack Bauer. Her lines are pretty much confined to repeating […]

    / Mar 13, 2007 at 1:14 PM
  • Bear Stearns, Gretchen Morgenson, Subprime Mortgages

    ‘Regards’ Just Seemed So Impersonal

    Dear Gret-Gret, Bear here, just going to get right to it—what gives, sista? We thought we were buds, amigos, pals, in it through thick and thin. Why did you force us to get those matching tattoos last year in South Beach that say “Thick as a Brick” across our lower backs if you didn’t mean […]

    / Mar 13, 2007 at 12:26 PM
  • Goldman Sachs, Subprime Mortgages

    Goldman Sachs Goes Nixonian On Subprime

    Goldman has been positioning itself as one of the good guys on subprime mortgages. Or bad guys, if you were an investor in New Century. Along with Citigroup, it reportedly helped cut off credit to the troubled subprime lender while Morgan Stanley sought to extend even further credit. This is being reported as an example […]

    / Mar 13, 2007 at 11:53 AM
  • CNBC, SOX, Warren Buffett

    What Sarbanes-Oxley Cost Warren Buffet

    You know sometimes you walk into a restaurant and you see a couple of people you know. You stroll by the table to say hello and immediately you get that feeling—the one that tells you that you are interrupting something. Something intimate. This isn’t just a dinner. Not just friends out for drinks. This is […]

    / Mar 13, 2007 at 11:39 AM

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