Citigroup Explores Bid To Pare US Stake (WSJ)
Vikram and friends, “eager to shed the stigma of being a ward of the state,” are trying to come up with a plan to get the government out of their hair. Nothing formal has been mentioned to Tim Geithner yet, though Citi did call a Treasury official over the weekend to mention they’re working on something good.
A Tough Crowd On Wall Street (NYT)
None of the CEOs or senior execs or hedge fund managers assembled at Obama’s speech yesterday ripped off their bras and threw them at BHO, or whipped out lighters, or tried to get backstage afterwards. Furthermore, Andrew Ross Sorkin reports: “There was no cheering section. The audience offered up only one round of applause, and a scan of the faces as the president spoke — grimacing, staring at the floor, nervously glancing at BlackBerrys — spoke volumes about how they felt as they listened to the president’s words…They came, they listened, they left. There was little sense that the country was any closer to reforming Wall Street.”
SEC: protecting long-term investors a priority (Reuters)
Mary Schapiro cares about you deeply. “I firmly agree that the commission’s focus must be on the protection of long-term investors,” Schapiro said in a Sept 10 letter to Senator Ted Kaufman, who has apparently not heard of the regulator’s newly founded Fraud College.
Swine Flu Boosts Charter Operators as Airlines Lose Top Fliers (Bloomberg)
CEOs! Use this excuse!
Tax Cheats Face IRS Deadline (NYP)
US citizens with undeclared assets in tax havens such as, for instance, let’s just say Switzerland have until Sept. 23 to reveal their holdings, pay a fine and probably avoid criminal prosecution, otherwise the gov is coming after you.
Living wills ‘to be forced on UK banks’ (FT)
Just, you know, in case they need to be dismantled in the near future. Might as well have a plan of action.
DE Shaw Opening Office In Dubai (Reuters)
“We wanted to be here because the region is home to many investors with deep regional knowledge and global reach,” said managing director Trey Beck.
Jim Cramer: Boohoo Obama Needs to Cheer Up (CNBC)
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
cramer sucks, as does ubs.
Cramer>UBS.
did sorkin get some face time with barack?
http://www.nytimes.com/2009/09/15/us/15chicago.html
“House for Sale Comes With a View: The Obamas”
better be selling up now before the ratings dip further because if the referring article,
“A Tough Crowd on Wall Street,”
is any indication of a reception, the neighbors will have things like an embolden Charlie Gasparino messing up their housing value by further denting the “Obama effect” premium bid.
Cramer’s pontificating is as bad as Obama’s.
@4 that place is a dump compared to my rego park palace
-cg
OK there is a meaningful difference between being a “warden of the state” and a ward of the state. So Vickie doesn’t like being a screw or he doesn’t like being under the guardianship of the state, and I think it’s the latter.
Is it true that Cramer is buying “Nails’house for a flip?
You see Tim. My idea involves myself, Dick Parsons, a cup and someone with a video camera.
-Vikram
@7 didn’t you know vikram is a prison guard?
@8. I’d never flip that house–it is truly one of the great ones.
I love that picture of Vik, he just seems so jolly and carefree. It reminds me of happier times.
-Guy who bought C at $50
Hey, Dealbreaker dudes! There’s a party over at Going Concern tonight from 8:00 until ???, and you’re all invited. We’re getting TWO kegs of O’Douls and a six-pack of Smirnoff Ice. Hope you can make it.
-Morton C. Waxler, CPA (a.k.a., Itemized_Seduction69)
I haven’t had CNBC on the floor in about 8 months, I turn it on today – get a 3 minute interview with Art Cashin where he does his bit, and clearly the gashes in studio don’t like it, and he ends the interview, when told “talk to you later” with “I hope so”.
I think I’ll wait another 8 months.
oh – and opening an office in dubai is pretty easy these days…since about 50% of the CRE is vacant
SBII
Just be prepared to show up with cash… debt is a real turn off.
I would love to see SBII in a debtor’s prison in Dubai, Tax Chick.
what’s the total float on C now? a googolplex+1?
So Vikram, you want to get out from under government control??? Why not trying to pay back the gazillion in taxpayer dollars you took to keep that POS you call a company afloat!!!! Oh, right, you can’t because you’re broke and broken!
Why Citi paid $700 million for the dude’s POS hedge fund is beyond me. Fold the company up, just like the hedge fund and be done with it already. This is chinese water torture for the taxpayers.
@19
We need you to be just a bit more boilerplate please. I guess we could just have C liquidate all its assets. I’m sure markets would just love all the extra liquidity that all those wondrous assets hitting the market all at once would provide.
C liquidates = DOW 10,000!!
@19 Yes you are right Citigroup is way more egregious than the 60+ billion that has already been flushed down the toilet fixing GM and Chrysler.
@NS
But the people “assisted” there were blue collar red blooded Americans, not elitist Wall Street uppity mucks, so that makes it a-okay!
AFL CIO Representative
A video of cyclops?
Honestly, Cramer is very irritating! Where does he get his staying power in CNBC? Is he sucking up with someone?
@12 Alwaleed, is that you?
Forget too big to fail – financial reform should begin with taking JC off the air.
Citi needs to merge with GM to survive.
Get in your snide anti-middle class comments while you can, dealbreaker twats, your industry is going to blow up soon. It’s just on taxpayer life support for now, but you’re not the least grateful.
@27
Actually things are starting to look better than ever. BHO just wussed out, money is cheap, and deals are lying about everywhere for the cockroach-esque survivors of the recession. Now, head back over to HuffPo and don’t come back.
@ 27
then where will you troll to bash “hedge fund managers”?
You have no idea!!! No idea!!!
-Jim C.