June 2009

  • News

    $2 Trillion Debt Is “Manageable”

    The Acting Assistant Secretary for Financial Markets, Karthik Ramanathan, gave a bit of a pep talk yesterday regarding US debt issuance for 2009 and 2010. People should take comfort knowing that the US has funded nearly 80% of its total “expected borrowing needs” of $2 trillion to fund the fiscal deficit for this year and […]

    / Jun 23, 2009 at 10:01 AM
  • News

    Bernie Madoff’s Lawyer Asks For Leniency In Sentencing, No More Than 12 Years

    Ira Sorkin has put it out there that he’d like his client to get less than life when he’s sentenced on June 29. Also, apparently Ponzi Boy is planning on speaking about “the shame he feels and the pain he’s caused,” and attempt to paint himself as a victim with regard to “the death threats […]

    / Jun 23, 2009 at 9:45 AM
  • News

    Hiring Watch ’09: CIA

    As previously mentioned, the Central Intelligence Agency wants you, yes you, up in its business. The Company will be conducting interviews in the city this summer, and though its website claims you had to submit a resume by yesterday to be considered, there’s probably some wiggle room there. While starting salaries aren’t as high as […]

    / Jun 23, 2009 at 9:32 AM
  • News

    Caption Contest Tuesday

    Dick Fuld, pictured with former LEH executive vice-president Scott Freidheim, enjoying himself at a wedding in Paris.

    / Jun 23, 2009 at 9:27 AM
  • Opening Bell

    Opening Bell: 06.23.09

    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 […]

    / Jun 23, 2009 at 6:20 AM
  • News

    Write-Offs: 06.22.09

    $$$ Hiring: Morgan Stanley, HSBC, CIC and more. [The Deal] $$$ Investor’s Widow Says Madoff Murdered Husband [Dealbook] $$$ Stalkers: Erin Burnett will be in Hoboken tonight. [NJ.com] $$$ RIEF Outperforms S&P by 2.06% MTD, RIFF Plunges [ZH] $$$ Job of the Week: A multi-strategy hedge fund seeks experienced portfolio manager for launch of new […]

    / Jun 22, 2009 at 6:00 PM
  • News

    Anyone Know Where We Could Find Mark Sanford?

    His wife (among others) is looking for him.

    / Jun 22, 2009 at 5:30 PM
  • News

    The Best Advice Bernie Madoff Ever Got: A Sucker, And By That We Mean Potential Investor, Is Born Every Second. Get Somea That.

    Unfortunately, he wasn’t interviewed for the latest issue of Fortune, for which the cover story is “The Best Advice I Ever Got,” but presumably that’s what he would’ve said. People who were actually questioned for the article include Lloyd Blankfein (who said the best pearl of wisdom ever laid on his ass was “empower a […]

    / Jun 22, 2009 at 5:26 PM
  • News

    SEC Gets Picked Off Again

    The SEC is finding new and creative ways to tarnish its image. After estimating that it would recover close to $1 billion in assets in the Stanford fraud case, the SEC now finds itself shoulder to shoulder with the guy they intend to prosecute. The receiver in the Stanford case, Ralph Janvey, has petitioned the […]

    / Jun 22, 2009 at 4:43 PM
  • News

    What *Is* Proper Blackberry Etiquette?

    Wells Fargo will fine you $100 for looking at your Blackberry during a meeting. At Goldman Sachs it’s frowned upon unless you’re obtaining info with which to front run prime brokerage clients. Bank of America doesn’t care what you do as long as you blow less than 0.3% on your daily breathalyzer test (and even […]

    / Jun 22, 2009 at 4:04 PM
  • News

    Maria Bartiromo Claims She “Never Believed In The Green Shoots”

    Discuss. (If one of the more enterprising Dealbreaker readers in the audience would care to slap together some sort of clip show to the contrary, that’d be top notch.)

    / Jun 22, 2009 at 3:13 PM
  • News

    JPM’s $246 Million Still Missing

    JPM may be a large financial institution but it will notice things like a $246 million revolving line of credit not being paid back- at all. Illinois-based bank holding company FBOP Corporation, which owns a group of real estate focused community banks in Arizona, California, Texas, and Illinois is probably hoping that somebody at JPM […]

    / Jun 22, 2009 at 3:08 PM
  • News

    Jim Cramer Thinks People Who Make Misleading Statements Should Be Thrown In Jail

    No, he’s not talking about himself (you think Uncle Jim would survive a day in the big house? They don’t teach you how to escape the wrath of Bubba at Goldman Sachs, where he once worked, in case you didn’t know). He’s talking about journalists. Also, if you didn’t catch it, the whole First Amendment […]

    / Jun 22, 2009 at 2:45 PM
  • News

    Mario Gabelli Is The A-Rod Of The Investing World, Basically, Says Mario Gabelli

    In the latest issue of Crain’s Aaron Elstein examines the massive package of Mario Gabelli. Last year’s paycheck ($46 million) was bigger than that of Lloyd Blankfein and John Mack combined and more than twice the size of Larry Fink’s take-home. We’d advise you to not even entertain the thought of making comparisons, though, which […]

    / Jun 22, 2009 at 2:11 PM
  • News

    Citi Real Estate Executive Fed Up With Bailed Out Firms Holding Onto Toxic Assets

    Citigroup Property Investors CEO Roger Orf has clearly not read the toxic asset playbook. If he had, he’d know that the game plan for dealing with toxic real estate assets is to create a series of proposals designed to distract people for a couple months while waiting for your deity of choice to deliver a […]

    / Jun 22, 2009 at 1:30 PM
  • News

    SEC Files Fraud Charges Against Madoff-Loving Cohmad Co-Owners

    The Journal reports the SEC has filed fraud charges against the co-owners of Cohmad, an investment firm that has described its relationship with Ponzi Nation as “blurry.” Cohmad’s vice-president is Robert “Madoff point man” Jaffe who, on more than one occasion, told Massachusetts regulators to go fuck themselves, after requesting he show up to talk […]

    / Jun 22, 2009 at 1:04 PM
  • News

    How Many Of You Took A Personal Day* Friday?

    Not saying, just saying, it definitely sounds like Team Financial Services Hacks was well represented what with the public drunkenness (Bank of America, Morgan Stanley), you sucks (CNBC), and fat shaming (Citi). Beer-sodden fans and rain combined for an ugly finish to a long day of golf yesterday, with Tiger Woods and other golfers subjected […]

    / Jun 22, 2009 at 12:21 PM
  • News

    Former CEOs Trade Retirement For Bank Infomercials

    Former commercial bank CEOs are getting a new lease on life by becoming the Billy Mays of the PE world. Firms are having success appeasing government concerns over PE ownership of failed banks by hiring retired bank CEOs to spearhead takeover efforts. Evidently those individuals that can sell their hybrid bank revival strategy of Oxi […]

    / Jun 22, 2009 at 11:59 AM
  • News

    Not Even A Couple Of Freebies At Hollywood Tans Can Get Angelo Mozilo To Smile These Days

    The latest issue of the New Yorker has a lengthy piece on the Tan Man (more on hue in a sec), who apparently is not doing so well of late. He has very few friends left (Big Al is of course still pulling for the guy and vice versa, along with Stan O’Neal and Jimmy […]

    / Jun 22, 2009 at 11:27 AM
  • News

    Possible People Moves

    For those of you who care about Hartford Financial (there have to be at least two of you with insurance fetishes), names being floated to take over for chief exec Ramani Ayer, who intends to retire by the end of the year, include AXA head Christopher “Kip” Condron and Bank of New York CEO Robert […]

    / Jun 22, 2009 at 11:15 AM
  • News

    Eating Out With Warren Buffett Event In Bargain Bin This Year?

    The Guardian reports that the annual auctioning of lunch with Warren Buffett, with proceeds going to the Glide Foundation, may not fetch as much cash this time around. In previous years the thing went for $650,000 and over $2 million, took place on vintage a Russ Meyer set and included dessert (Oreo Blizzards) being served […]

    / Jun 22, 2009 at 10:29 AM
  • News

    Investor Not Amused at “Conservative” Subprime Call

    Russian-American investor, Len Blavatnik, whose industrial holding company, Access Industries, reportedly lost $98 million on subprime investments wants to have a word with the House of Dimon. Blavatnik alleges his JPM banker, Ted Ufferfilge, had a unique interpretation of a conservative, low-risk strategy for his investments is suing JPM for his losses. When the subprime […]

    / Jun 22, 2009 at 10:15 AM
  • News

    Graduate From Jack Welch’s Online Business School

    Been considering doing the MBA thing but either didn’t get accepted to your top pick or get it together in time to send out any apps? Might we suggest Chancellor University System LLC, which comes out of the remains of formerly bankrupt Myers University in Cleveland? Most classes will offered online so you won’t have […]

    / Jun 22, 2009 at 9:28 AM
  • Opening Bell

    Opening Bell: 06.22.09

    Goldman Sachs May Pay Record Bonuses (Guardian) If all goes according to plan! AIG Trading Partners Put Squeeze On Insurer Before Bailout (Bloomberg) “Goldman is to be congratulated for seeing the problem ahead of others and protecting itself from the impending failure of AIG,” said William Poole, former president of the St. Louis Fed, in […]

    / Jun 22, 2009 at 7:30 AM
  • News

    Write-Offs: 06.19.09

    $$$ Law firm Wachtell weighs in on possible short selling rules in letter to the SEC. “Selling a stock short in combination with the purchase of such a swap — tied to a company’s ability to pay its debt — can send a false signal into the marketplace,” the letter said. And as everyone knows, […]

    / Jun 19, 2009 at 5:25 PM
  • News

    Has Vikram Pandit Put On Some Pounds?

    Felix Salmon thinks so, devoting a post to the supposed weight gain today, in which he draws particular attention to the neck area. Our thoughts on this: 1. Uncalled for. 2. Not even taking into account that the supposed evidence of fat is taken from a most unflattering angle, the fact of the matter is […]

    / Jun 19, 2009 at 5:04 PM
  • News

    Mad Max Is Back At It

    Goldman Sachs super fan Maxine Waters has her eyes on another group of evildoers and is doing something about it. The recently introduced Stop Vulture Funds Act seeks to prohibit vulture funds from suing poor countries to obtain usurious payments. No doubt it took her every ounce of restraint to avoid naming names when she […]

    / Jun 19, 2009 at 4:40 PM
  • News

    Allen Stanford’s Lawyers Think Throwing Client In Jail Would Be A Totally Excessive And Unwarranted Move

    Re: jail or bail for Allen Stanford, the accused Ponzier’s lawyers argue that detention would be “a punitive measure” and that the government is grandstanding, which, considering the source, is rich and awesome. Prosecutors are pegging the ultimate sentence at 375 years.

    / Jun 19, 2009 at 3:54 PM

Our Sites

  • Above the Law
  • How Appealing
  • ATL Redline
  • Breaking Defense
  • Breaking Energy
  • Breaking Gov
  • Dealbreaker
  • Fashonista