• 06 May 2009 at 6:17 PM

Write-Offs: 05.06.09

By Equity Private

$$$ Morgan Stanley needs money [WSJ]
$$$ One Sign the Worst Is Behind Us [Cityfile]
$$$ Records Show How Madoff Used Firm as ‘Piggy Bank’ [Dealbook]

Comments (16)

  1. 1
    Posted by guest | May 6, 2009 at 6:40 PM

    I hope the IRS takes a look at those Madoff credit card statements. Most of the charges run up by the sons and other relatives were for personal expenses, and should have been declared as income. Any guesses as to whether they were?
    Income tax issues are small change compared to what these guys should be going down for, but at a minimum, the gov should go for that.

  2. 2
    Posted by guest | May 6, 2009 at 6:49 PM

    My question is: where are Meredith Whitney and Noriel Roubini?
    Ok, at least Roubini had that little Op-Ed piece in the Journal on Monday. But what happened to Whitney’s talk about the banks losing their franchises?
    Where was Citi when Meredith told us it was a sell? Was that at $1? Is she standing by that recommendation?
    Is an 8-week raging bull market the type of “black swan event” that Nassim Taleb warned us about?
    I’m so confused…

  3. 3
    Posted by guest | May 6, 2009 at 7:02 PM

    OT but just picked up from another blog.
    http://online.barrons.com/article/SB124156429590089333.html
    “To be sure, the stress test results will not be released until late Thursday, but Washington policy makers are apparently using the cover of anonymous sourcing to preannounce the news. This type of behavior would almost certainly be investigated by securities regulators if corporate executives preannounced major news in a similar fashion.”
    So, will the SEC investigate the gov’t stock manipulations? hahahahaha! HA!

  4. 4
    Posted by guest | May 6, 2009 at 7:04 PM

    I did a bit more searching (not much actually as I clicked the marketwatch link off teh WSJ site) and got this…I wonder who’s right?
    http://www.marketwatch.com/news/story/morgan-stanley-doesnt-need-more/story.aspx?guid=%7B356A2DAD-B1F4-436E-BF08-9F5E0D9A1A7C%7D&dist=msr_3

  5. 5
    Posted by guest | May 6, 2009 at 7:09 PM

    @3 – leaks to the press are bad enough – the real question is how many leaks have been made to college roommates and buddies of Treasury employees and C-level executives of the banks?
    How many hedge funds have been tipped by reporters before the headlines make it out on Bbg or the WSJ?
    It’s really outrageous that Treasury would release this kind of news in this fashion. They should have released a single report while the market was closed.
    But, you are right, there will not be any kind of investigation. Why would we need one? The market is going straight up.

  6. 6
    Posted by guest | May 6, 2009 at 7:47 PM

    @5-The C levels were supposed to be informed yesterday and today before release.
    Informing buddies and C-levels doesn’t explain why BAC went up nearly $4 since Monday close if they need $34B more.
    And not one sqeak of outrage coming from Obama’s House over the leakage. MSM journos need to remove their lips from whomever they’ve attached them and ask themselves why they froth over insider trading from NY but not from DC.

  7. 7
    Posted by guest | May 6, 2009 at 7:49 PM

    Hey, dumbass @6 it’s squeak, not sqeak.
    -6
    I will now go contemplate killing myself.

  8. 8
    Posted by guest | May 6, 2009 at 8:52 PM

    we are all so fucked

  9. 9
    Posted by guest | May 7, 2009 at 12:51 AM

    No word out of MWA?

  10. 10
    Posted by guest | May 7, 2009 at 7:42 AM

    Hooker Fucker on cnbc.
    I think I will go kill myself now.

  11. 11
    Posted by guest | May 7, 2009 at 7:55 AM

    @10 No kidding – I was about to sip my coffee and watch…I turn on the big screen and that fucker is talking about some slate article he wrote a while back. Is this guy for real? Will I really have to see him in media from now on?

  12. 12
    Posted by guest | May 7, 2009 at 7:57 AM

    Eliot Spitzer was amazing as guest on Squawk box. Interesting that Ariana is the guest host and SHE invited Elliot.

  13. 13
    Posted by guest | May 7, 2009 at 8:03 AM

    Ariana is a real pioneer for women…
    what a joke!

  14. 14
    Posted by guest | May 7, 2009 at 8:37 AM

    @1 IRS took down Capone and I can live with something similar for Madoff relatives….

  15. 15
    Posted by guest | May 7, 2009 at 12:10 PM

    wtf costs $4.73 at Barnes & Noble? Shania Madoff has about 30 such charges on Uncle Bernie’s credit card.

  16. 16
    Posted by guest | May 7, 2009 at 12:23 PM

    @14
    Pokemon cards?

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