‘Blood Oath’ Sealed Stanford Deal, Court Is Told (NYT)
You really can never trust a person, especially in the money game. Sometimes you need a little added security that they’re going to be loyal to you no matter what. So why this happened, okay? “At a meeting in 2003, [Stanford and his chief regulator, Leroy King] became blood brothers, cutting their wrists and mixing their blood in a “brotherhood ceremony” that Mr. Stanford’s chief financial officer said promoted an elaborate scheme to hide a multibillion-dollar fraud from American and other regulators. After the pact, King called Mr. Stanford “Big Brother.” He received Super Bowl tickets, valued at thousands of dollars, for himself and his girlfriend. And he accepted regular bribe payments from a secret Swiss bank account that Mr. Davis said he was told to handle by Mr. Stanford.”
SEC’s Schapiro Calls Derivatives Data ‘Critical’ for Probes (Bloomberg)
Regulators need “information that allows us to construct an audit trail, so that we can find insider trading, manipulation and other concerns that can reverberate through the entire marketplace,” Schapiro said in an interview for Bloomberg TV.
Madoff Victims Fight Picard Over Profits (NYP)
Irving Picard wants to cut checks for whatever money each investor gave to Madoff (minus whatever they with withdrew), which is pissing of the people who’d just prefer he gave them the $50 billion.
Treasury Document Called AIG Investment ‘Highly Speculative’ (Bloomberg)
“A slide with the phrase was included in documents obtained in a Freedom of Information Act request by Judicial Watch. The sentence was omitted from another version of the slide in a presentation describing the November revision to AIG’s rescue in which the insurer got $40 billion from the Treasury. (“The prospects of recovery of capital and a return on the equity investment to the taxpayer are highly speculative,” according to the first of the two Treasury slides.)”
Banks ‘Too Big to Fail’ Have Grown Even Bigger (WaPo)
“It is at the top of the list of things that need to be fixed,” said Sheila C. Bair, chairman of the Federal Deposit Insurance Corp. “It fed the crisis, and it has gotten worse because of the crisis.”
Hedge Critic May Get SEC Risk Post (NYP)
University of Texas law professor Henry Wu, “known for his research uncovering shady dealings in the derivatives market,” is probably going to be named head of the SEC’s Office of Risk Assessment.
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wait, is that weird?
Did they also drink cock blood? As in chicken.
Hold on, the man had heart palpitations yesterday…a little respect!
In related news, our slore friend from Barclays woke up coughing blood this morning next to a set of twins who both run the venture capital group at JC Penney.
@2 yeah, your point being?
Why did we decide on slore? I personally prefer scut. Half scum half slut.
@naked, no, slore is much better.
@6 Slore just rolls off the tongue so easily …
5 – Shouldn’t you be dead?
S L O R E !!!
The gd swiss banks are behind every fraud.
S L O R E C L O P S!
My shlong is too big to fail.
-Vikula
Slunt?
Someone’s been watching too much HBO.
Vada Sultenfuss and Thomas J became blood sis and bro. It was no big deal.
Then Thomas J got killed by all of those bees. So sad.
UBS svcks. It really does. In a most impressive, yet scary way.
He is so cute!
- Mark Klein MD
@14
I’ve been blessed with many things in this life. An arm like a damn rocket, a cock like a Burmese Python, and the mind of a fucking scientist.
Blood brother ceremonies are baller
@18…don’t be stealing my shit. I’ll cleat you like Ty Cobb having a bad day.
~Kenny Powers
Didn’t Sanford and King also have to taste each others boogers, burn a picture of the head of the SEC, treat each other to a night at the Mirage Cabaret at TC Jester and W.34th in Houston, compare skidmarks after dinner at Ninfa’s, give each other crotch “noogies”, and attend a 9 hour reading of the greatest Houston Astros ever? Now that would constitute a true blood oath in my book.
~Fake Jeff Skilling
Whunt. Hell, that version could even go in a Dr. Seuss book.
“Green Eggs and Whunt”
whunt is pretty good
Hunt!
Hunt!
Hunt!
Did you ever ride a Whunt?
We have a Whumt
with just one stunt.
But
we know a man
called Mr. Gunt.
Mr. Gunt has a seven stunt Whunt.
So…
if you like to go Unt! Unt!
just jump on the hump of the Whunt of Gunt.
@25 BEP feat. Fergie, right?
@25 – Genius.
On another note, what the hell is the SEC’s “Office of Risk Assessment” going to do?
@ Jeff/21
Those were the days….
A. Fastow
@28 Same thing as the division of enforcement…..sit around and wait for the lunch bell, then drink coffee until it is time to go home. If someone brings them proof of some penny stock boiler room guy then maybe, just maybe they’ll get their thumb out of their ass just long enough to file a complaint.
Never go after a big bank though! Those suckers have lawyers that will drag you into no end of paperwork!!!
@22 now how is that pronounced, the standard pronunciation with a silent H, or the more snooty upturned nose pronunciation where the H isn’t silent like, “hwunt” as in cool hwip
@31 – I initially envisioned it silent, but I like your suggestion of “hwunt” as a pronunciation (spelling remains Whunt). Adds just the right touch of class.
22/25.
@25. No trade tickets to process? Put the Dr Seuss book down now and pickup my dry cleaning.
You would think I’d know something about this, but no.
-Mark Klein MD
@33 -
Pot. Kettle. Black.
@32 glad I could help
For the last post, it’s Henry Hu, not Henry Wu, as stated in the summary.
Wu, Hu. Hwatever.
Sir Allen’s prominent chin seems like an ideal resting spot for his cellmate’s nutsack…