Judge Questions Merrill Bonuses (NYT)
“A week after the Securities and Exchange Commission announced that it had settled the matter, Judge Jed S. Rakoff questioned whether the $33 million agreement with Bank of America was adequate. He refused to approve the deal, saying too many questions remained unanswered, including who knew what and when about the controversial payouts.”
Distressed Debt Deals On The Rise (Reuters)
At $84.4B, distressed-debt deals are on pace to double last year’s numbers.
Stanford Can’t Get Money To Mount Legal Defense (NYPost)
There stands a decent chance the government has the money tied up to the point that Stanford will effectively be getting a team of public defenders.
Despite Negative Revenue, UBS Making High Profile Hires (Bloomberg)
The marginally less client friendly Swiss bank is building out its teams in the downtime, having picked up more than 20 bankers from the competition. No mention of comp plans.
Toxic Assets May Need More Help (Reuters)
The Congressional Oversight Panel is looking for stress tests on the smaller banks/institutions to assure they’re not functionally inept, and wants capital support much in the same way it was available to the larger institutions.
Asia Showing Slow Climb Out Of Recession (NYT)
China released its economic numbers today, showing industrial output raising 10.8% and retail sales up 15%.
New York Fed In Hiring Spree (FT)
“The Federal Reserve Bank of New York is aggressively hiring traders as it seeks to manage its burgeoning securities holdings, making the central bank one of Wall Street’s most active recruiters of financial talent.”
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
UBS. . . well. . . sucks
Working for the FED/gummint is the new killin’ it.
Is a Bess-less day even worth living?
Man, you guys have it ruff.
-DK’s Collie
The best and brightest will flood to the Fed to serve their country.
Beth, you filthy animal liar where the hell are you?
- cliffy
Let the record officially state that yesterday was indeed the low water mark for Dealbreaker…to-date of course.
Twas two nights before Bess’s return, when all through the ‘net
Not a creature was stirring, not even as the Fed monetized public debt.
The FMF photos were sent to her email with care,
In hopes that Ms. Levin soon would be there.
The DB commenters were nestled all snug in their beds,
While visions of Amanda Drury’s cleave danced in their heads.
And D. Kneal with his collie, and Greg in his Versace briefs,
DB readers were tired of the posts stinking like M. Whitney’s queefs.
With a little huge relevant photo, and text sent from the heavens,
I knew in a moment it must be Ms. Levin.
More rapid than eagles the insults they came,
And she whistled, and shouted, and called them by name!
“Now noted prostie lover! now, Mexican coke shark! now, Dimon and Blankfein!
On, P. Tudor! On, Fatty Cohen!, on Asness and the CEO that drinks cheap wine!
From the top of her head! to the tips of her fingers!
Now comment away! Comment away! Let the nasty sarcasm linger!”
She spoke not a word, but went straight to her work,
And filled all of her posts, while displaying an evil smirk.
And laying her finger aside of L. Kudlow’s blow filled nose,
And giving a nod, as if to say LK get ripped up and bang some hoes!
She sprang to her desk, as she tries to right this ship,
She tries not to let the fact that she missed us too slip.
But I heard her exclaim, as she returned to the block,
“If you hated on DealBreaker while I was gone you can suck a cock!”
I think we need a hotel bill from Bess’ stay in the islands.
@8 FTW!
@6
Cliffy,
You’ve gone to the deep end of wingnuttery. Stay there, don’t come back.
PS. And you forgot to add Ph. D. to your signature, you are really losing it.
http://www.gawker.com/assets/resources/2008/06/prescotthahn.jpg
FmF pic of the hour
@Naked
I think I love you!
@Tax
I advise against spreading the love too thinly. There are far too many guys to go round.
@ Naked
As remarkable as that opus may be, I fear you may have some newfound free-time on your hands to pen such a work, say it aint so!
@ Tax
Ditto @14. For your woman parts’ sake.
@Anal_yst still gainfully employeed.
It is amazing, however, where your mind can wonder at 3am when you have a liberal arts degree, a 12 rack of pale ale, and a horrible case on insomnia on your hands.
@12 – c’mon man. feed us something new.
http://dealbreaker.com/2008/06/as-noted-in-yesterdays-comment.php
Off-topic, but I need one of y’all whiz kids to help me out here. I see that worker productivity rose by an astonishing 6% last quarter. The media ALWAYS reports productivity rise as a good thing, because it supposedly equates with a higher standard of living.
My question is this – why can’t a higher productivity mean that people are working their assess off to make the same paycheck / work the same hours? That is, can’t productivity spikes reflect worsened working conditions? I assume not, since it’s never reported like this. Explain to me why. Please.
Has anyone noticed the headlines that Atticus is closing shop in the US. Barakett is returning money in the funds to investors?
@14/ Anal
One can express love/ appreciation for someone without using their lovely, lady bits. Sheesh! Based on your responses, you must fall in and out of love all the time.
@20/Tax Chick
I fall in and out of love all the time. When I was your age, I always did it for half an hour a day. Why, sometimes I’ve fallen in love as many as six times before breakfast.
Negative revenue?? So Ubs is paying customers to accept their services?
@22—and those services are still overpriced.
@WR
My age?! You presuppose something you know nothing of. Interesting.
@22 negative revenue from trading. happens.
@18 yeah, it’s actually worse than the picture you’re painting. current productivity gains measure nothing more than that employment hours have fallen faster than revenues.