September 2009

  • News

    Write-Offs: 09.30.09

    $$$ Great news for white collar criminals: breaking out of prison has never been easier. [Cityfile] $$$ The Wall Street Draft [American Madness] $$$ Melissa Francis’s vote for the Name Jamie Dimon’s Bar ‘n Grill contest. [Twitter] $$$ Bank of America’s Enemies List [The Deal]

    / Sep 30, 2009 at 7:00 PM
  • News

    What Was Ken Griffin Doing At Blackstone Today?

    Being indoctrinated into the $4 million crab claw club? Your guess is as good as mine. Wildly speculate away.

    / Sep 30, 2009 at 6:30 PM
  • News

    Gasparino: Ken Lewis To Step Down By End Of Year

    Apparently he was not told security would see him out but is leaving on his own terms. No word on his plans for the future but something along these lines would make sense, with John Thain bussing tables. Update: Andrew Cuomo has chimed in an attempt to ruin the happiest day of Ken Lewis’s life […]

    / Sep 30, 2009 at 5:12 PM
  • News

    Pay Czar May Not Rule With An Iron Fist After All

    If you believe the CEOs of the most distinguished members of the bank bailout club were all playing along with the short-term profit focused bonus bonanza and want to see Ken Feinberg extract a pound of flesh, keep waiting. Whether it was a result of his compensation model crashing when trying to incorporate across-the-board clawbacks […]

    / Sep 30, 2009 at 4:30 PM
  • News

    Thanks to This Week’s Advertisers

    A quick word of thanks to this week’s advertisers on Dealbreaker. De Beers Delta The Atlantic The Economist Soul Calibur 4 PSP If you’re interested in advertising on Dealbreaker or any other site in the Breaking Media network, download our media kits, or email Thanks!

    / Sep 30, 2009 at 4:20 PM
  • News

    Caption Contest Wednesday

    [Shia LaBeouf on the Money Never Sleeps Set, in his role as a trader. This is how Oliver Stone perceives you people.]

    / Sep 30, 2009 at 3:51 PM
  • News

    CNBC Reports: “New York’s street-cart vendors aren’t just low-income immigrants anymore”

    They’re ex-investment bankers too!

    / Sep 30, 2009 at 3:45 PM
  • News

    Atrocities In Paradise

    It looks the UK really means business. They are not going to allow some small tax haven whose government is on the verge of not being able to pay its employees to dictate terms. The Queen has the leverage and the cash and she is letting the Caymans know it. The month long bickering focused […]

    / Sep 30, 2009 at 3:37 PM
  • News

    What Are Rebecca Jarvis’s Short And Long Term Career Plans And Do They Involve CNBC?

    No and unclear! A bunch of you have been wondering where Jarvis has been lately, fearing a Margaret Brennan-like abandonment. For now, be easy– she’s on vacation this week. However, and I only say this so you can emotionally steel yourself, there are rumors that she’s planning to leave the network once her contract is […]

    / Sep 30, 2009 at 2:49 PM
  • News

    Nobody Takes Dan Loeb For A Ride

    Not the market, not Ken Griffin and not some sheisty moving company. One and two learned that the hard way and now the fools at Auer’s Moving & Rigging are getting a crash course in what happens when you try and pull a fast one on this vegan surfer-cum-triathlete. Perhaps thinking the Third Point founder […]

    / Sep 30, 2009 at 1:49 PM
  • News

    Russian MBA Program Labels Harvard “Business School Of the Past”

    The whole ‘new normal’ concept is really only for the developed world to digest. With an increasing focus on emerging markets, developed countries are going to have to get used to business the EM way. So how exactly do you prepare yourself to deal with the three pillars of emerging economies: bribery, relentless bureaucracy, and […]

    / Sep 30, 2009 at 1:30 PM
  • News

    China Simply Does Not Have Enough Citigroup In Its Life

    China and Japan have had their problems over the millennia and gone in completely opposite directions when it comes to certain issues. This is good news for Vikula. For the first time in what has seemed like millennia, somebody out there wants more Citigroup- and not just as a short-term equity holding. While Japan has […]

    / Sep 30, 2009 at 11:51 AM
  • News

    Goldman Sachovia Would’ve Happened If Warren Buffett Hadn’t Stepped In And Pointed Out The Obvious

    The Oracle of Omaha. He’s not just good for marrying folksy business wisdom with aberrant sex fetish. He can also be counted on to bring up the pink elephant in the room (it helps if said elephant has huge cans) when no one else will. According to Andrew Ross Sorkin’s new book on the weeks […]

    / Sep 30, 2009 at 11:39 AM
  • News

    Marc Dreier Was Robbed And So Were We, Part II

    I missed this from yesterday’s account of why Marc Dreier chose to get into the Ponzi business (9/11 and a house on the beach, mostly). It clearly deserves flagging: One of the firm’s Christmas parties was held at the Waldorf-Astoria, where Dreier danced wildly to the song “Shout,” from Animal House. At a firm party […]

    / Sep 30, 2009 at 11:02 AM
  • News

    Does Jamie Dimon Dream Of Putting Ken Lewis In A Chokehold? Dick Bové Likes To Think So

    Yesterday’s announcement out of JPMorgan re: who will potentially take over in the event Jamie Dimon “unexpectedly departs or is incapacitated” has those who track such things attempting to figure out what all this means for our favorite Boy Toy CEO’s future. Is he planning on leaving tomorrow or will he stay the course of […]

    / Sep 30, 2009 at 10:00 AM
  • News

    Headhunter Gets In On The Fraud Game

    The government’s stimulus cheerleading sign approach to economic prosperity may be tough to justify from an efficient use of funds perspective, but it does require people to make the signs and then place them every 150 feet. So at least it’s not a complete fraud from an employment perspective. For that, Minneapolis based Arthur Group […]

    / Sep 30, 2009 at 9:58 AM
  • News

    Opening Bell: 09.30.09

    John Mack Proposes Single Global Regulator (Bloomberg) “A better system would be one uber-regulator,” Mack said in an interview in New York with Bloomberg TV. “We do need an overall systemic-risk management that everyone buys into. It’s not a U.S. systemic boundary — it’s a global systemic risk manager.” CIT Said To Weigh Financing From […]

    / Sep 30, 2009 at 8:00 AM
  • News

    Write-Offs: 09.29.09

    $$$ French Rogue Trader Takes to Riviera Stage [AP] $$$ BofA’s Krawcheck Sets Her Team: The Memo [Deal Journal] $$$ Hank Greenberg’s I-Firm Takes 120K Feet in Zuckerman’s 399 Park [NYO] $$$ The SEC’s 58-Step Program [BI] $$$ Bonita Bay Brawl [implode-o-meter] $$$ This is a sculpture of a bull impaling Bernie Madoff. [BBC]

    / Sep 29, 2009 at 5:36 PM
  • News

    UBS: Everything Is Cool But Don’t Come In ‘Til We’ve Sterilized The Place

    So UBS has yet to say definitively whether or not they’ve got an outbreak on their hands but they have informed the new associate and analyst classes to enjoy themselves a four day weekend, ’cause there’s no need to come in for training tomorrow (again). Additionally, only those wearing hazmat suits should get close to […]

    / Sep 29, 2009 at 5:14 PM
  • News

    Chris Dodd Could Learn A Thing Or Two From Vladimir Putin

    Chris Dodd may believe in the power of one, but not Vladimir Putin. While he was actually addressing the role he sees for the Russian state going forward, he might as well have been addressing Dodd’s continued enthusiasm for a single banking regulator. “We understand how deceptive blind faith in an omnipotent state is, how […]

    / Sep 29, 2009 at 5:00 PM
  • News

    Bank Of America Making Great Strides In Customer Satisfaction

    Having stumbled a bit dealing with the handicapped and fallen Marines, Bank of America is now getting an earful from its credit card customers. A 14-year customer of BAC, Ann Minch had seen and heard enough from Bank of America and CEO Ken Lay. Yes, she was steaming mad at Ken Lay for raising the […]

    / Sep 29, 2009 at 3:53 PM
  • News

    Unfounded Rumor Of The Afternoon: Robert Wolf Out At UBS?

    From the mailbag: Maybe those who were told at UBS not to come in for the day were part of Robert Wolf’s coterie– hearing confirmation that he’s been fired, which would jive with Gasparino’s story last week that Bob McCann would be taking over as head of UBS Americas. Or maybe he just has swine […]

    / Sep 29, 2009 at 2:57 PM
  • News

    Matt Taibbi On Goldman’s Short Selling Logic: The Statistical Equivalent Of A Non-Sequitur

    Rolling Stone’s chief Wall St. correspondent Matt Taibbi has a missive coming out soon on the fall of Bear and Lehman. But before he reveals the solution to those riddles, he took some time to return to the conspiracy/blame game theorists’ version of Old Faithful, Goldman Sachs. This time around, the target is three pages […]

    / Sep 29, 2009 at 2:50 PM
  • News

    Help Jamie Dimon Name His Bar ‘n Grill

    Many of you have spent countless nights fantasizing about what it would be like getting drunk with Jamie Dimon. But it was just that– a fantasy that you never imagined would come true. Well, peasants, today comes the thrilling news that if we can get JD to quit his gig on Park, this thing could […]

    / Sep 29, 2009 at 1:56 PM
  • News

    Baby Steps Of Progress For General Motors

    There may be hope yet for the new General Motors and anybody looking to see auto bailout money complete the round trip. It took just six weeks for GM to learn that eBay may work well for buying artifacts from failed investment banks or California’s liquidation but when it comes to autos, consumers want a […]

    / Sep 29, 2009 at 1:28 PM
  • News

    Marc Dreier Got Into The Ponzi Biz To Fulfill His Destiny For Greatness, To Fill A Void, And To Buy A Beach House

    Not a day goes by that I don’t curse Bernie Madoff, for robbing Marc Dreier of the insane media attention he deserved for a scam maybe not as big as but exponentially more creative and ridiculous than what the simpletons over at the Lipstick building had going on. Today we have a bittersweet glimpse of […]

    / Sep 29, 2009 at 1:05 PM
  • News

    A Safe Harbor For CEO Compensation

    Maybe Adair Turner was really onto something when he made a plea for banks to focus on socially useful endeavors. While CEO after CEO was coming forward to advertise their decision to work for $1/yr until their respective institution returned to non-government supported profitability, some of their counterparts in the nonprofit world were enjoying record […]

    / Sep 29, 2009 at 11:43 AM
  • News

    Which White Party-Attending Financier Is Immune To The Recession?

    Page Six reports that a 14-acre Southampton spread, which sat on the market for two years at an asking price of $59 million, is in contract for $45 mill. Whose ass should you start kissing now in order to ensure an invite for next summer? Unclear. The buyer is unidentified but Post did offer up […]

    / Sep 29, 2009 at 10:18 AM

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