Goldman Denies It Will Pay Out Huge Bonuses (NYDN)
I mean, it will, but the issue here is that we don’t know if they’ll be record-breakingly big just yet. We can certainly make guesses, though, which you should feel free to do at this time.
U.S. credit rating a “solid triple-A,” Says Moody’s (Reuters)
But it could be at risk for the d-word. “Either our assumptions in terms of debt reversibility prove to be wrong. That is, in fact the U.S. government is unable to bring public debt back to a downward trajectory,” Pierre Cailleteau, team managing director of Moody’s Sovereign Risk Group said.
Three Banks Suspend TARP Dividends (WSJ)
At least three cash-strapped banks have stopped paying the government the dividends they owe: JPM, GS, MS. No, just messing. Jamie Dimon would sell his liver if need be. The banks are pacific Capital Bancorp, Seacoast Banking Corp, and Midwest Banc Holdings.
Buffett Boy Raises $2 billion (FT)
Byron Trott, AKA “Buffett’s banker,” has raises a nice chunk of change for his new firm, BDT Capital Partners. For those interested in getting in on that, BDT will “maintain a close relationship with Goldman,” Trott’s former employer.
A Transplant That Is Raising Many Questions. You Know The One. (NYT)
Doctors say there is “little opportunity” to cheat the system when you need an organ, but the Times apparently remains unconvinced that Mock Turtleneck didn’t do just that.
What Has the World Bank or IMF Ever Gotten Right? (Infectious Greed)
Paul Kedrosky would like to know.
No Jobs On Wall Street Mean Graduates Can Have A Social Conscience Now (Bloomberg)
Nationally, 27 percent of about 1.6 million graduating seniors plan to work for nonprofit groups or governments, an increase from 23 percent in 2008.
Settlement Anticipated In UBS Case (NYT)
“The Justice Department may drop a closely watched legal case aimed at forcing the Swiss bank UBS to divulge the names of 52,000 wealthy American clients suspected of offshore tax evasion, a United States official briefed on the matter said Monday. The move, which would halt an unusually aggressive effort to force Switzerland to lift its veil of banking secrecy, could happen by mid-July.”
Changes At Harvard Management Company (WSJ)
“Harvard is considering several moves designed to improve its ability to stay liquid. It may increase the size of its internal trading operations, which currently represent about 30% of total assets versus money with outside managers, in part to maintain greater control in times of crisis, according to a person familiar with the matter.”
Sumitomo Trust Finance to Start New Japan-Focused Hedge Fund (Bloomberg)
The Tactical Equity Concepts-Japan Fund get underway June 29 with 10 billion yen ($105 million) of seed money from parent Sumitomo Trust & Banking Co.
Milk and cookies, Bess. Fixes all insomnia.
Oh, and UBS Sucks. Just thought I’d remind everyone.
@2 I admire your commitment to the cause.
@1- London?
@4 Connecticut. Will be leaving for the office in about an hour.
BLANUS!!!
@3 UBS shout-outs are cathartic.
Since when does working for the government get lumped in with having a social conscience and working for a nonprofit?
How are those banks not already seized by She She? Maybe T.G. is firing a bullet in her general direction?
The recession is helping drive graduates into service, Marx said. That’s “partially because they want to, and partially because they’re not going to have a choice but to find alternatives,” he said. “Investment banking jobs aren’t going to come courting.”
So basically these are the wall street rejects.
Seriously, these schmucks at Amherst can’t find any jobs in finance and are doing this bs work to get into Wharton MBA (writing a nice essay how they improved their communities, etc). Why would anyone at Wall Street hire an Amherst graduate over Wharton, NYU, Columbia or UChicago, etc business major?
@ 11, well one thing you can say about Amherst is that there are a lot of BLANUSes there.
@11, I agree. It’s hilarious. Kids can’t get jobs so they go work for the government and they say it’s because they had a choice? Balls I say.
@11 it’s hilarious that you think nyu and chicago are more prestigious than amherst.
CT@4 what in god’s name were you doing up?
@1/4- stevie?
@14, so true. Although, i have found it distressing over the years the # of hires from subpar schools while rejecting liberal arts majors from HYP
@10 it’s not just them; the harvard kids were all “we’re relieved to not have to work on wall street.” basically it’s every 22 yo brat.
is goldman’s chief economist the guy from hogan’s heroes
@19 joe cohen? yes.
#20 i was referring to sgt. hatzius. JC does wear underwear with dickholes in them however
@20 goldman’s chief economist = abby joe cohen
AJC is Sr Investment Strategist
Jan Hatzius is Chief US Economist
@22…. try again. chief economist = jan hatzius
ACJ haunts my wetest dreams
I am kind of sad Jon and Kate’s divorce wasnt covered in the opening bell. (tear)
Ed McMahon just died
Jon and Kate’s divorce is a feel good story that has no place on Db.
11 Lets face it: Wall Street work is not that difficult. In banking you learn the drill and then you repeat it 1000x. You need some smarts, but the more important thing is to be articulate, engaging, good under pressure, team player, etc, etc. There’s no reason to think HYP people have a leg up on those skills. I’m not saying Staten Island CC is acceptable. But its just silly to think that someone from say Amherst is unworthy.
@11 Amherst had an in with #3 ML.
@11 apparently has never heard of Merrill Lynch.
@29
for banking maybe yes but for P-to-tha-E
no fucking way.
PEBaller
baby boomer baby bubble