$$$ Bank Of America Claims It Did Not Engage in Superbowl Carnival [zero hedge]
$$$ Did Madoff’s feeder fund shop for friendly audits? [Fortune]
$$$ Markopolos Says He Will Turn In A Mini-Madoff [AlleyInsider]
Markopolos Says He Will Turn In A Mini-Madoff from AlleyInsider on Vimeo.
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
A one billion dollar mini Madoff tomorrow. Any word on who that is?
I dunno, but I bet someone just put a slightly less than $1 billion dollar hit on him.
Gray Line Bus Tours.
@1 — it’s a firm called Citigroup (NYSE:C, mkt cap ~$1 BB). Saudis will be pissed.
I am short Saudis.
I’ll be wearing brown undies tomorrow.
I bet it’s Google. Come on, does anyone believe that web ads make money?
I was just talking to Charlie Gasbagoli over at Equinox and in between excited gasps he told me that it was Raymond James Bank.
6- Is a billion dollar fund even worth sharting over? I think some tissue squares will be sufficient insurance for tomorrow’s “big news.”
madoff full clients list
http://dealbook.blogs.nytimes.com/2009/02/04/madoff-trustee-unveils-list-of-firms-customers/#more-31489
Citicorp is such a retarded “Sears Roebuc-esque” name. Are Vick & Co. really going to do pull that renaming crap?
So, who is going to pay the government back and who isn’t?
“we exist to fight the immoral transfer of trillions in debt from private banks onto the backs of future generations. If not stopped there will be $10 trillion of debt created by our government in the next five years. and most of it given to the banks. That amount is equal to our entire national debt for our first 232 years as a nation.
We’re here to keep tabs on the heist. To provide an official daily record of the generational pillaging.”
http://dailybail.com/home/2009/2/3/bailout-news-ww-ii-edition-taxpayer-iwo-jima.html
congrats on your best month ever dealbreaker.
I can’t stop thinking about meeting Gasbags at Equinox. He has and air of authority about him.
The smile on the congressman’s face (who was that?) was brilliant. I hope these guys can pull together enough people with morals and backbone to save this country. This guy is a hero, the first legitimate, caring person I have seen talk to Washington about the financial situation to
@12
It isn’t even about getting paid back. It is always good to be paying back fixed liabilities in an inflationary environment.
It is about loaning free or nearly free money to insolvent companies that should have failed to protect the interest of a few at the expense of many.
The gains on the common of these bank stocks (and even return of capital for the preferred and debt) will be a result of holders and earners of USD assets subsidizing them. So we are giving wealth and power back to the same people who nearly brought the system to its knees because we haven’t the stomach to acknowledge that the banking system nearly broke and is now on unprecedented liquidity life support?
@1 CDARS
Too Markos, not enough polos.
The boob shot thread was better. We aren’t getting paid, may have no jobs, all our friends are unemployed, hanging out all day in their underwear drinking beer. While we wait for the pink slip. So Bess, please post more T&A. PLEASE!!
14 Someone earlier today said they saw him at Sports Club LA. Who’s lying? or does he go to two gyms (the same day??)
He was at Equinox Columbus Circle. I saw him there too.
Not 14
Too Marko Polo, didn’t find.
I think staring at C. Gas at the gym today gave me ringworm.
Gary Ackerman grilling SEC Division heads and GC. Discuss.
http://www.cnbc.com/id/15840232?video=1021551579&play=1
A quant’s (well-deserved) 15 minutes of fame. Nicely done, Harry!
@6- you gonna sh– your pants?
you mean shit?
23, after that rant, I was expecting to see his name on the BM victims list.
I also ran into to CG at Equinox. As I was sitting down to lounge in the dry sauna, my towel slipped open and I looked up to find Charlie awkwardly pretending he hadn’t been trying to sneak a peak.
“Some accountability needs to be put in place. We won’t have them kicking sand in the face of taxpayers any longer,” said one private equity worker on Dealbreaker.com, a Wall Street gossip site and blog.
http://abcnews.go.com/Business/CEOProfiles/Story?id=6806414&page=1
Can anyone envision a scenario where the executives of Wall Street firms simply become front men/women for the “real executives” running the operation from behind the scenes. Basically, a few people, who probably would not be able to make it into executive positions on their own merits, are pushed into the top positions at these investment banks, take the limited $500,000 a year salary, while the people actually running the show are quietly behind the scenes, making their normal pay.
I am thinking of the situation of Phillip Green running the Tangiers Casino for Sam Rothstein in the movie Casino, presumably because Rothstein does not want to undergo the scrutiny required to obtain a gaming license. Or Wendell “Orlando” Blocker running Orlando’s strip club as a front for the kingpin of the drug dealing operation, Avon Barksdale, in series The Wire. In both these cases, the front man provided cover for the nefarious backgrounds of those actually running the operations.
http://86andlex.wordpress.com/2009/02/04/bailouts-5/
29 – you mean like the last 8 years in the whitehouse?
(obvious, but irresistible!)
I’m glad they are finally listening to Markopolos and that he refused to give up the whistle-blowing even after his Madoff claims were laughed at for so long. Still, there is a lot of the scheme yet to discover. Unlike Markopolos, many of Madoff’s right-hand men and women do not seem to be talking. I watched an interesting summary on the whole ordeal at newsy.com earlier. It basically sums up a few major articles and opinions of various newspapers and sites. Take a look:
http://www.newsy.com/videos/media_looks_at_who_got_burned/