September 2008

  • News

    Goldman To Offer Shareholders Dilution

    But don’t worry! It’s delicious Buffett-flavored dilution.TM Berkshire Hathaway will invest $5 billion in Goldman Sachs. In addition, Goldman will raise at least $2.5 billion in common equity in a public offering. Berkshire will have warrants to buy another $5 billion in common stock. — WSJ I don’t think I have to tell you, this […]

    / Sep 23, 2008 at 6:05 PM
  • News

    House Announces Wall Street Snitch Y Bitch Line

    Not sure how we missed this but House Oversight Committee Chairman Henry A. Waxman has announced the creation of the “Lehman-AIG Tip Line.” The power o’ subpoena and your tax dollars no longer being an effective means of gathering relevant information regarding whatever shit did or did not go down at the Houses of Fuld […]

    / Sep 23, 2008 at 6:04 PM
  • News

    Adventures In Absurdly Unfounded, Highly Suspect Rumors

    1. That Congress plans to stick the following in the rescue bill: a. “Salary cap for executives of $400k for any co that dumps their toxics in the rescue fund. Don’t know yet for how long a period.” b. “Homeowners will able to tap their 401k and IRA’s tax free to pay their mortgage.” 2. […]

    / Sep 23, 2008 at 4:38 PM
  • News

    Four, when ordering food, you find out what she wants, then order for the both of you. It’s a classy move.

    I realize that the Morgan Stanley analyst who issued the report on the New Goldman Sachs probably would’ve been locked in the Mary Meeker room if he’d even joked about criticizing the recent changes at 85 Broad. But are we not laying it on, what’s the phrase I’m look for here, a bit thick, when […]

    / Sep 23, 2008 at 4:05 PM
  • News

    Short Congress

    The correlation between Congress holding court on anything market related and the S&P 500 would be alarming if it wasn’t so obvious. Why hasn’t someone already started the Congressional Hearing Leveraged Opportunities Fund? Update: Count on our readers to have this one figured out already. Singer, a Libertarian-leaning former investment banker with more than 20 […]

    / Sep 23, 2008 at 3:17 PM
  • News

    Cure For Moral Hazard: Dick Fuld, Are You Paying Attention?

    Corporate India is in shock after a mob of sacked workers bludgeoned to death the chief executive who had dismissed them from a factory in a suburb of Delhi. Lalit Kishore Choudhary, 47, the head of the Indian operations of Graziano Transmissioni, an Italian-headquartered manufacturer of car parts, died of severe head wounds on Monday […]

    / Sep 23, 2008 at 2:59 PM
  • News

    Dollar Dominatrix Tells Us How She Really Feels

    Oppenheimer analyst Meredith Whitney speaking at a private lunch right now (presumably dining on the flesh of Vikram Pandit): Wachovia is a “wacky bank.” Shall we see if the negative comments affect the stock price? Oh, wait…

    / Sep 23, 2008 at 2:23 PM
  • News

    Like There Were Regulatory Burdens Placed On Goldman Sachs. Good One, Senator.

    Senator: “How long were you the CEO of Goldman Sachs?” Paulson: “From May of 1999 til I left to come down here in mid-2006″ Senator: “You said didn’t realize the maze of regulatory problems that we have here on the hill and that you and other companies like yours were dealing with here. You made […]

    / Sep 23, 2008 at 1:56 PM
  • News

    What Happened Around 11:30?

    Oh yeah. Chart after The Jump.

    / Sep 23, 2008 at 1:55 PM
  • News

    Bring Us The Head Of Dick Fuld

    In the digital sense. As you know, we are good and fed up about the lack of face time with Richard Severin Fuld over the last week or so. If he wants to go Jodie Foster on us and hole up in a panic room with a diabetic pre-teen that’s fine, there’s nothing we can […]

    / Sep 23, 2008 at 1:10 PM
  • News

    Liveblogging (Sort Of) The Bailout Hearings

    Paulson and The Beard are facing the panel. What glee! 11:30: Lots of hammering away on the issue of mortgage foreclosure assistance. If the issue was bad lending, the argument goes, why aren’t we doing more for foreclosure assistance? What other plans did the Treasury consider before adopting the plan that is before the congressmen […]

    / Sep 23, 2008 at 11:33 AM
  • News

    Bush: Socialist

    Granted, you might prefer to take with a grain of salt anything Hugo Chavez says, but it is amusing (because it is so biting) to hear him welcome President Bush into the realm of socialism. Cue Bloomberg: I nationalize strategic companies and get criticized, but when Bush does it, it’s OK,” Chavez said on weekly […]

    / Sep 23, 2008 at 11:30 AM
  • News

    Becoming A Bank Holding Company Was Not The Message We Had In Mind

    Despite the feelings of emptiness we’re working through right now, born out of having the momentary exhilaration of picturing Jamie Dimon displaying the pair to go it alone ripped out from under us, we stand by yesterday’s statement. Taking yourself off the short sell ban list SENDS A MESSAGE. A message that you are long, […]

    / Sep 23, 2008 at 11:13 AM
  • News

    For the Tin Foil Crowd: Collateral Damage

    Nationalizing healthcare or healthcare insurance is pretty much off the table at this point no matter who gets elected. Wall Street put the brakes on that very quickly by removing any prospect of getting it funded. Who says you have to spend money on lots of expensive lobbyists to kill social programs. You just need […]

    / Sep 23, 2008 at 10:49 AM
  • News

    Barclehs Not Wasting Any Time

    / Sep 23, 2008 at 10:31 AM