• 21 Oct 2009 at 7:57 AM

Opening Bell: 10.21.09

By Dealbreaker

Picture 9.pngChiesi Search For Investor Edge Went To Far, Say Prosecutors (WSJ)
Danielle’s attorney begs to differ: Mr. Kaufman said that all Ms. Chiesi was doing was trying to get better information than most people have, which is “what thousands and thousands of people in the financial community try to do,” He added, “I did not see any allegations that Danielle was trading for her own account or that she personally profited from this.”
Bank of America Saw Merrill Losses in November, E-Mails Show (Bloomberg)
“Read and weep,” Chief Accounting Officer Neil Cotty wrote in a Nov. 5 e-mail to Chief Financial Officer Joe Price that included Merrill’s October financial report.
Galleon Moves Assets Into Cash (FT)
Most investors are redeeming ASAP though one charitably offered: “Liquidation would be the objective thing to do,” adding that he would be “looking to see what happens this week.”
Goldman Sachs Exec Defends Bonuses At Ethics Debate (Reuters)
Brian Griffiths said he was not “ashamed” of his bank’s compensation package.

King Suggests Splitting Up Largest Banks to Stem Risk (Bloomberg)
Mervyn says chop ‘em up.
Fed Chooses Staff Economist as Head of Bank Supervision (WSJ)
“As an economist with deep expertise in financial markets, Pat Parkinson will be an important asset at a time when we are focusing on a multidisciplinary approach to banking supervision and regulation,” Mr. Bernanke said. “We’re working to supervise the banking sector in a way that focuses not just on individual institutions, but on how those institutions are interconnected and are integrated into the financial system and the economy.”

Comments (17)

  1. 1
    Posted by guest | October 21, 2009 at 8:02 AM

    buzz your girlfriend- woof!

  2. 2
    Posted by guest | October 21, 2009 at 8:08 AM

    I am not a crook.
    -raj raj

  3. 3
    Posted by wcburrs87 | October 21, 2009 at 8:23 AM

    Is Chiesi still in love with Flava Flav?

  4. 4
    Posted by guest | October 21, 2009 at 8:26 AM

    She looks so beautiful in that picture.
    -Greg Michaels

  5. 5
    Posted by guest | October 21, 2009 at 8:35 AM

    @3
    Lol. Foofi.

  6. 6
    Posted by guest | October 21, 2009 at 8:38 AM

    I’d tap that for stock tips.
    -Johnny Meriwether

  7. 7
    Posted by strangebrew | October 21, 2009 at 8:41 AM

    Where is this place called Far that went to? Oh, you meant TOO far.

  8. 8
    Posted by guest | October 21, 2009 at 8:45 AM

    “”Tell me I’m the best in AMD,” Mr. Rajaratnam said to Ms. Chiesi as he shared information with her about the company.”
    http://www.nytimes.com/2009/10/21/business/21insider.html?ref=business
    “In Fraud Case, a Deal That Lost Millions”
    “One bad trade, in the shares of the chip maker Advanced Micro Devices, cost his hedge fund, the Galleon Group, $30 million. That loss more than wiped out the profits that prosecutors claim Mr. Rajaratnam and his accomplices reaped with their scheme. “

  9. 9
    Posted by InfiniteGuest | October 21, 2009 at 8:53 AM

    Step (1) Break up institutions deemed “too big to fail.”
    Step (2) ???

  10. 10
    Posted by merkin capital partners | October 21, 2009 at 8:56 AM

    Ursula?! I thought we killed you!
    -Little Mermaid

  11. 11
    Posted by guest | October 21, 2009 at 9:05 AM

    @9 your wrong,
    Step 1 = Hit head against curb
    Step 2 = If step 1 failed, repeat

  12. 12
    Posted by guest | October 21, 2009 at 9:06 AM

    Exciting? Try cheap. Where are the stories of ritzy hotels a la sheryl w.?
    “The employees allegedly had late-night affairs in exciting places — such as their boss’ sofa “with whomever they could find.”"
    “Madoff’s druggie bunk bud”
    http://www.nypost.com/p/news/local/manhattan/madoff_druggie_bunk_bud_ZKgRMr47QfMu72UaOEO2jN
    “

  13. 13
    Posted by Joe Mac | October 21, 2009 at 9:18 AM

    @3 WC-Nice…

  14. 14
    Posted by guest | October 21, 2009 at 9:35 AM

    @3
    She may be, but her fried chicken tasted terrible, so I gave her the boot!
    -FF

  15. 15
    Posted by guest | October 21, 2009 at 9:49 AM

    Melissa Francis’ skank cousin.

  16. 16
    Posted by guest | October 21, 2009 at 10:39 AM

    Anyone know the cutie arresting Chiesi in that picture (DB cut off her face)?!?

  17. 17
    Posted by guest | October 21, 2009 at 11:22 AM

    @16– Talk about cuties? What about the Asian FBI hottie arresting Raj Raja? Makes you want to commit financial fraud!
    http://blogs.usatoday.com/ondeadline/2009/10/report-more-insidertrading-arrests-soon.html

Leave a comment

You can log in with your account or comment as a guest below.

   or