Is Andrew Cuomo going to force Wall Street to bailout institutional investors who bought auction rate securities? So far most of the offers to buy back auction rate securities that have come from brokers have applied to retail investors, charities and municipalities. The idea was that these investors were probably the focus of regulator protection and more sophisticated investors knew or should have known the risks in the market.
CNBC's Charlie Gasparino is reporting that Cuomo's dissatisfaction with the settlement offers from Merrill Lynch and Morgan Stanley stems, in part, from a concern for institutional investors. Pension funds and others own large amounts of the securities, and Cuomo may be pushing Wall Street firms to offer relief to these customers as well. This could seriously increase the cost of bailing out this market to the firms involved.
Posted by guest , Aug 12, 2008 2:12PM
"Cuomo"
... Stopped reading right there.
Posted by guest , Aug 12, 2008 2:16PM
How long for his fall a la Spitzer?
btw where is Ms. Dupre? Vanished?
Posted by guest , Aug 12, 2008 2:19PM
Damn straight...where is she?
Posted by Compliance Insights , Aug 12, 2008 2:22PM
Cuomo is shrewd, but he had better watch his flanks, because if he's found to be operating on a "pay-to-play" basis - i.e., looking for such institutions to fill his future (NY Gov., Senator) campaign warchests with "favors" as AG, he's going to get kicked down (public opinion-wise) by the internet crowd, Wall Streeters, and the general public.
I think he'd still pursue that path, because he's that aggressive and greedy for the brass ring.
Posted by guest , Aug 12, 2008 2:30PM
Dupre has been living in luxury [in Wall, NJ], lying on the beach for hours at a time, in between yoga classes, with her mother.
Her well-tended brick colonial in Wall is less than two miles from the home of lover Thomas "TJ" Earle, the married son of a construction-company millionaire with whom Dupre has been having a torrid affair.
The two spent a night at the Gramercy Park Hotel last week, and on Friday Earle said he was "ashamed" over the fling.
Sources said the pavement prince's relationship with Ashley went on for a month.
"She's having a great summer," Dupre's mother, Carolyn Capalbo, told The Post.
Posted by guest , Aug 12, 2008 2:38PM
Oh sweet love $$$...
She has to stop doing this otherwise we will never see her naked as she has a nice steady cashflow
Posted by guest , Aug 12, 2008 2:39PM
@ #5 at 2:30
You have a link to that article?
Posted by guest , Aug 12, 2008 2:42PM
do you people not read the post? wtf?
Posted by guest , Aug 12, 2008 2:44PM
she will end up back in the trailer park which is where she belongs.
Posted by guest , Aug 12, 2008 2:44PM
What COST of bailing out the market. They buy the ARS at par, put on a lousy rate for the issuer and slap the paper over to the FED for discount: Asset rate say 6% liability rate 2.2%, capital requirement pehaps reduced due to "municipal risk" and 20billion new deposits from custies that were paid off. Who is bailing out the investor?
The municipal taxpayer!
Posted by guest , Aug 12, 2008 2:51PM
http://www.nypost.com/seven/07272008/news/regionalnews/kristen_mulls_2m_tube_job_121828.htm
Posted by guest , Aug 12, 2008 3:07PM
@ #11 - Thank you.
@ #8 - No. Asshole.
Posted by guest , Aug 12, 2008 3:24PM
@5 Way to reference the TJ Earle story which is month old at this point...
Posted by guest , Aug 12, 2008 3:27PM
@ #9 - buying a trailer park to receive her would be cheaper than $4k an hour...
Posted by guest , Aug 12, 2008 3:37PM
Cuomo is looking after Andrew.
Posted by guest , Aug 12, 2008 3:45PM
@#11 - she is looking a lot better! :)
I hope that Cuomo picks up a chick as nice looking as Dupre
Posted by guest , Aug 12, 2008 3:51PM
Some were marking the student loan arcs at 77.75 on client statements. If they buy them back at par, you have to immediately carry them at least of market value or cost. Issuers are protected by the indenture.
Posted by guest , Aug 12, 2008 3:59PM
http://www.nypost.com/seven/08122008/news/nationalnews/video_show_man_bathing_in_burger_king_ki_124159.htm
The guy in the video is a complete moron.
Posted by guest , Aug 12, 2008 4:21PM
@13 last update unless you have something new
Posted by guest , Aug 15, 2008 4:11PM
Cuomo tried to pick up this one blond chick who is an associate of mine and told me about it. She doesn't usually lie to me. I've known her for a while and what she tells me is he has tried to live up to his idea of the player image by first showing interest, then hiding the truth from her, insulting her feelings, and metaphorically pushing her around. Macho guy. The more cordial he is in public she says, the more brutal he is to her. Knowing this woman as I do, I decided to post.
Posted by guest , Aug 17, 2008 1:27PM
I know the woman and the story. Andrew Cuomo is a real a..hole to this female. He's trying to control her by stirring up fear. Coming out of nowhere (I don't think so)he's recently started an "I'm a Great Guy" campaign with a web site supposedly written by his staff expaining how wonderful he is and not at all like former AG Spitzer.
Let's not forget how proud he and his office were not too long ago of how tough and agressive he is on everyone. This is now the "kinder and gentler Andrew Cuomo"? I hardly think so! He's shifty like the professional politician he is. Cuomo where is your disclosure?
"Sir thou doth protest too much!"
Posted by guest , Sep 11, 2008 4:32PM
Cuomo is an ugly a..hole and a big bully.
Posted by guest , Sep 11, 2008 4:35PM
Cuomo is a big a..hole and a bully.