• 24 Oct 2008 at 6:23 PM

Write-Offs: 10.24.08

By

$$$ Treasury Allows Banks to Announce Equity Injections [WSJ]
$$$ Remember the Titans [LSO]
$$$ Harsh Math for Wall Street’s Young: Stay or Go? [NYT]

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    Comments (87)

    Older Comments
    1. 1
      Posted by guest | October 24, 2008 at 7:06 PM

      Here’s my favorite line
      “But job hunting in New York proved fruitless — and he lost half of his severance money after investing it in Lehman Brothers. ”
      This guy is a winner!

    2. 2
      Posted by guest | October 24, 2008 at 8:14 PM

      “So Mr. Litvin and his girlfriend decided to move to Chicago, where she found a position with a real estate firm.”
      Why not more about the bitches? Tell me about the banker bitches blowing for rent and fucking for blow?

    3. 3
      Posted by guest | October 24, 2008 at 8:42 PM

      Loosers! Real BSD’s are the firm, we will never be laid-off! We will take the ship down with us!

    4. 4
      Posted by guest | October 24, 2008 at 9:51 PM

      So who leaks the current federal hot beef injections list first? And will bending over save you veresus the small five to ones? It’s gonna be raining men.

    5. 5
      Posted by Lowly Assistant | October 24, 2008 at 10:30 PM

      Remember when Kravis was gonna take that shit public? There’s gonna be an awful lot of fish to eat in the sea come 1 year.

    6. 6
      Posted by guest | October 25, 2008 at 12:10 AM

      Equity injections and facials – what more could New York bankers ask for? They’re living in Paradise.

    7. 7
      Posted by guest | October 25, 2008 at 4:03 AM

      In the hiring and firing category, Merrill Lynch is holding Penn Recruiter Office Hours next week at Cosi–guess they can’t afford the spreads at the Inn at Penn anymore.
      -Wharton dickwad

    8. 8
      Posted by guest | October 25, 2008 at 4:19 AM

      LSO was a sign of a market top for banking….

    9. 9
      Posted by guest | October 25, 2008 at 10:27 AM

      @1 true that! Fucking asshole works for Bear and then invests his severance money in LEH – COULD HE BE ANY FUCKING STUPIDER!!! HOLY SHIT. That is a microcosm for what is wrong.

    10. 10
      Posted by guest | October 25, 2008 at 11:18 AM

      @9
      Fuck you! He wanted to be the next Buffett. He wanted the papers to interview him asking about his genius call to buy LEH during distress. He wanted to…. he just wanted some attention.
      YOU ARE AN ASSHOLE!

    11. 11
      Posted by guest | October 25, 2008 at 12:34 PM

      40hr work week, a steady paycheck, job satisfaction, no abusive bosses and an actual *life*, for once I can say with no trace of irony:
      DAMN IT FEELS GOOD TO BE AN ENGINEER!
      Yeah, I know you fucks are not taking this lying down and will be back soon with more financial “innovations” and uber leverage now that the Fed is your bitch, but right now Fuck Yeah, this feels so good.
      -Engineer
      P.S. And lay off the oh-so-clever “mechanic” and “fix my car” retorts jackasses.

    12. 12
      Posted by guest | October 25, 2008 at 1:19 PM

      @11
      again, stfu and fix my maserati. Don’t ruin it boy. You can’t afford it.
      Face it jose, whatever happen, you’ll always be minor to us. (In terms of paycheck and dick size)

    13. 13
      Posted by guest | October 25, 2008 at 1:28 PM

      @11,
      I think I know a kid who’s going to be like you one day. I fucked his gf last night.
      -Wharton dickwad

    14. 14
      Posted by guest | October 25, 2008 at 1:39 PM

      @11, wow you are a magnificent tool.

    15. 15
      Posted by guest | October 25, 2008 at 3:33 PM

      I certainly remember the tight ones from Normandy High.

    16. 16
      Posted by guest | October 25, 2008 at 4:26 PM

      now now children…

    17. 17
      Posted by guest | October 25, 2008 at 4:54 PM

      $65K base and he was moving into the East Village? Tool. Everything that went wrong with Wall Street summed up in this 22 y.o. douchebag – up to and including investing windfall money in highly risky financial stock.

    18. 18
      Posted by guest | October 25, 2008 at 5:45 PM

      All the cool kids were doin it…
      Seriously though, which banks other than “the 9″ and PNC get the triple BBB (beard, bald, broad) rating with capital on Monday? The delay seems to imply another PNC type deal or two before sunday evening?

    19. 19
      Posted by guest | October 25, 2008 at 6:33 PM

      NYT article:
      So When Will Banks Give Loans?
      http://www.nytimes.com/2008/10/25/business/25nocera.html
      “Chase recently received $25 billion in federal funding. What effect will that have on the business side and will it change our strategic lending policy?”
      A: That $25bn is for the losers; we just took it so they wouldn’t look bad (Citi?) We’re going to be sitting pretty on that cash, thank you very much. We won’t be lending to anyone, don’t you know most Americans are deadbeats?

    20. 20
      Posted by guest | October 25, 2008 at 7:11 PM

      What are the taxes d’habitation in Tourettes sur Loupp in le chemin du picarrou ?

    21. 21
      Posted by guest | October 25, 2008 at 7:14 PM

      #11 needs a nice glass of shut the fuck up

    22. 22
      Posted by Investorcluzo | October 25, 2008 at 8:35 PM

      @18 – good question. the better question is: why does ohio have 5 (soon to be 4) banks when all of Canada has 3 (that are meaningful)? consolidation is finally coming writ large. now that the government is giving potential acquirers a hall pass with a get out jail free card (in the form of a backstop), it’s likely that the ones that have held up best will use their new stature to buy on the cheap. the list is pretty deep, but I would look to us bancorp, bb&t, sun trust and m&t to get into the mix. they all have their own issues but a shotgun marriage would allow them to build up their own reserves while ostensibly writing down the portfolio of their betrothed.
      as for the banks that are going to get taken out back and shot, I’ll leave that for the rumor mongers…but if you look at where banks are trading relative to their tangible book values, you’ll get a sense for where the market has placed its bets.
      @19 – who do you think gets fired first, the guy who made the comment or the person who let the dial in number get into the hands of the press?

    23. 23
      Posted by guest | October 25, 2008 at 8:40 PM

      @11
      Enjoy that tiny $130k income ceiling, bro.
      DAMN IT FEELS GOOD TO BE A LAWYER.
      – Former Engineer

    24. 24
      Posted by guest | October 25, 2008 at 8:50 PM

      @22. ty. I must admit that these last few months are a car wreck I can’t look away from.
      I think my regional bank is not among the blessed. :(

    25. 25
      Posted by guest | October 25, 2008 at 9:35 PM

      I remember a tag line from an old British TV show: “Life is tough and then you die.” I’ll vouch for that…

    26. 26
      Posted by guest | October 25, 2008 at 9:55 PM

      130k income ceiling? Hmm 2 years of of college and I make 142.5. I guess you went to a shitty school or were shitty at your job.

    27. 27
      Posted by guest | October 25, 2008 at 9:57 PM

      The only easy day was yesterday.
      – Commander Bear

    28. 28
      Posted by guest | October 25, 2008 at 10:28 PM

      Engineer! wtf? Even if you work at MSFT you make less than $100k. Sorry bro, I did my due diligence before selecting a career. As a first-year banker I cleared $122.5k + an equity award. I can’t wait until I have a Ferrari so that I can make you fix it.

    29. 29
      Posted by guest | October 25, 2008 at 10:48 PM

      HAHA you only made 122.5k and now you are jobless.

    30. 30
      Posted by guest | October 25, 2008 at 10:51 PM

      @26 Chemical Engineer?

    31. 31
      Posted by guest | October 25, 2008 at 10:55 PM

      Software Architect

    32. 32
      Posted by guest | October 25, 2008 at 10:59 PM

      “hey let’s see who’s dick is bigger”
      I short penny stocks and anything on OTCBB…made millions…
      - Tim Sykes

    33. 33
      Posted by guest | October 25, 2008 at 11:02 PM

      what was the equity award? LEH stock?
      I work for WLRK…I made 140k salary oh and then I got 100% bonus…for all you whiz kids thats $280k first year @ 26 years old.
      Ladies, call me if you wanna make $20 the hard way.

    34. 34
      Posted by guest | October 25, 2008 at 11:09 PM

      How much is that equity award worth now? ha.
      My guess is you’re some unimportant gimp, barely hanging onto your job, pulling in 65k a year like the guy in this article.
      Better luck convincing your boyfriend that you make 122.5k (+ equity award!!!).

    35. 35
      Posted by guest | October 25, 2008 at 11:19 PM

      I remember all the analysts gloating throughout the past 2 years. Now its engineers and lawyers.
      You guys know how that goes right?

    36. 36
      Posted by guest | October 25, 2008 at 11:27 PM

      Just feels good to be vindicated. You chumps all thought you were on the path to riches by doing nothing more than banging out spreadsheets for 80 hours a week. Now that pyramid scheme over, most of you will be out of work or will have 0-30% bonuses this year. B
      etter luck doing that due diligence next time, bitch.

    37. 37
      Posted by guest | October 25, 2008 at 11:38 PM

      you guys are all idiots for making fun of these kids.

    38. 38
      Posted by guest | October 26, 2008 at 12:30 AM

      33, no you don’t. WLRK pays 160 with 100% bonus to its first years. Asshole.

    39. 39
      Posted by guest | October 26, 2008 at 12:38 AM

      Did you guys know this: A Trading Strategy with Guaranteed No Loss.
      Why is it that they (the bankers on wall street) hide such things from us.
      This is not propaganda. Hint: if you can figure it out on your own, it involves two trades one of which is an options trade.
      If you cannot figure it out or simply to know more, head to the site below.
      http://financialtraders.blogspot.com/2008/09/trading-strategy-with-guaranteed-no.html

    40. 40
      Posted by guest | October 26, 2008 at 12:39 AM

      Did you guys know this: A Trading Strategy with Guaranteed No Loss.
      Why is it that they (the bankers on wall street) hide such things from us.
      This is not propaganda. Hint: if you can figure it out on your own, it involves two trades one of which is an options trade.
      If you cannot figure it out or simply to know more, head to the site below.
      http://financialtraders.blogspot.com/2008/09/trading-strategy-with-guaranteed-no.html

    41. 41
      Posted by guest | October 26, 2008 at 3:23 AM

      i call bullshit on $142.5k after two years as an engineer. the best of my classmates cleared $110k total comp two years out.

    42. 42
      Posted by guest | October 26, 2008 at 10:12 AM

      Fuck working at WLRK. Yeah, sure, you make more than bankers, but you work more too.

    43. 43
      Posted by guest | October 26, 2008 at 10:44 AM

      Guess you shouldn’t have gone to CUNY then.

    44. 44
      Posted by guest | October 26, 2008 at 12:34 PM

      @43 – #1 CS here. I know what the Big Software salaries are, so STFU.

    45. 45
      Posted by guest | October 26, 2008 at 1:17 PM

      I’m sorry, ITT Tech isn’t #1 CS. Try again.

    46. 46
      Posted by guest | October 26, 2008 at 1:44 PM

      Did you get laid off from Wall Street and end up in a corporate IT department in Omaha? So sorry for your loss.

    47. 47
      Posted by guest | October 26, 2008 at 3:21 PM

      The way on Syria/Iran has started. details below.
      http://www.marketwarnings.com/2008/10/us-attacks-syria-october-26-2008-is.html

    48. 48
      Posted by guest | October 26, 2008 at 5:09 PM

      11/26: I’m a location selection consultant. Congratulations and pray tell where do engineers with 2 years experience make $142.5K? Just curious.

    49. 49
      Posted by guest | October 27, 2008 at 1:08 AM

      You guys are all fucking morons! I hate the fucking bankers…they don’t to jack all day except talk about how great they are. They are nothing but a BS artist…no value at all. I’m glad this happened and all you losers will actually have to WORK for your paycheck now. I hope you lose your job, your wife and your house, because you don’t deserve it. Greed is a two way street Fuckers!!

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