• 13 Aug 2008 at 3:39 PM

All Banks But One To Say Sorry We Screwed You

By Bess Levin

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Charlie Gasparino reports that at least three firms are expected to reach a “global settlement” today or tomorrow with everyone (all state and federal regulators, the SEC, etc) accusing them of taking investors for a ride re: auction rate securities. Those firms are Morgan Stanley, JP Morgan, and Wachovia and pointedly not Merrill Lynch, whose talks with regulators have “turned contentious” in recent weeks, which hopefully translates to John Thain breaking his onesie out of mothballs and Cuomo renting a Viking costume.
Some Wall Street Firms Near Pact On Auction Debt [CNBC]

Comments (8)

  1. 1
    Posted by Tapecracker | August 13, 2008 at 4:19 PM

    Gasparino is Perez Hilton in a $600 suit.

  2. 2
    Posted by guest | August 13, 2008 at 4:20 PM

    “John Thain breaking his onesie out of mothballs and Cuomo renting a Viking costume”
    God, I love you Bess… genius.

  3. 3
    Posted by guest | August 13, 2008 at 4:43 PM

    Thain is rapidly becoming everyone’s fav target. There are days I’m sure he is regretting employment decision.

  4. 4
    Posted by guest | August 13, 2008 at 4:44 PM

    That’s like saying “sorry, I blew one in your mouth”.
    You’re not sorry. You’re not sorry at all. And the next chance you get, you’re gonna do it again.

  5. 5
    Posted by guest | August 13, 2008 at 4:48 PM

    3 But then payday arrives and he’s reminded of how its all worth it.

  6. 6
    Posted by guest | August 13, 2008 at 4:49 PM

    I have to agree with commenter #2. Really inspired and witty phrase, Bess.

  7. 7
    Posted by guest | August 13, 2008 at 5:12 PM

    @2: I see a Pulitzer…

  8. 8
    Posted by bank_teller | August 13, 2008 at 7:23 PM

    we really missed you yesterday bess. don’t ever EVER take a day off again.

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