BofA To Select Emergency CEO (WSJ)
Bank of America is expected to pick someone this week to potentially take over the event Ken Lewis “is forced to step down” before the end of the year, so if you’ve got any suggestions, do share. Also: “Government officials are expected to tell the bank if they don’t approve of specific names, essentially giving the U.S. government informal veto power.”
Goldman To Be Paid 1 Billion If CIT Fails (FT)
Others (the US taxpayer, not so much): “The payment stems from the structure of a $3bn rescue finance package that Goldman extended to CIT on June 6 2008, about five months before the Treasury bought $2.3bn in CIT preferred shares to prop it up at the height of the crisis. The potential loss for taxpayers would be the biggest to crystalise so far from the government’s capital injection plan for banks.”
Gang Of Nine Tales
Neil Barofksy: Paulson lies!!!
Roubini Says Stocks Have Risen ‘Too Soon, Too Fast’ (Bloomberg)
“Markets have gone up too much, too soon, too fast,” Roubini said in an interview in Istanbul on Oct. 3. “I see the risk of a correction, especially when the markets now realize that the recovery is not rapid and V-shaped, but more like U- shaped. That might be in the fourth quarter or the first quarter of next year.”
Lehman Creditors To Get Payout Plan (WSJ)
The administrator for Lehman’s operations in London plans to seek permission to remove the claims from U.K. courts and dole out assets directly to creditors, if enough hedge funds are willing to go along with the move.
Sheila Bair Turns Up The Heat In Istanbul (NYP)
The FDIC chair said she wants to regulate not just banks but hedge funds as well, and then turned heads in a plunging neckline later that night.
HSBC chief fears a second downturn (FT)
“Is this a V recovery or a W?” Mr Geoghegan asked in an interview with the FT. “[I think] it’s the latter. [If I’m right], we have to be very careful we don’t grow the balance sheet so far before the recovery has come only to write it back into the impairment line later on. I’m cautious about growing too fast.”
Posted by guest , Oct 05, 2009 8:11AM
so you figure Ken went w/ the wakenbake this morning?
Posted by guest , Oct 05, 2009 8:12AM
@1 for sure
Posted by guest , Oct 05, 2009 8:22AM
second semester senior year, baby.
-KL
Posted by guest , Oct 05, 2009 8:23AM
yeah and what are you going to do about it you little pipsqueak?
-HP
Posted by guest , Oct 05, 2009 8:23AM
Too Soon
Posted by guest , Oct 05, 2009 8:39AM
Anyone think he looks regal in that picture?
Also, how about UBS? Do they still suck?
Posted by wcburrs87 , Oct 05, 2009 8:55AM
Cafe disco at 1 BP!
Posted by guest , Oct 05, 2009 9:13AM
@6
"Also, how about UBS, Do they still suck?"
I'm not sure I've ever heard a more redundant, and hopefully rhetorical, question before.
Posted by guest , Oct 05, 2009 9:15AM
@6 He looks even more constipated in that picture.
I'm shocked that you harbor the merest inkling of the belief that maybe "UBS Sucks" does not apply anymore.
Shocking.
Posted by guest , Oct 05, 2009 9:18AM
I'm calling for a pear shaped recovery.
-MB
Posted by guest , Oct 05, 2009 9:21AM
I see Ken Lewis installing a rideable miniature railway around his backyard in retirement.
Posted by guest , Oct 05, 2009 9:33AM
@11
Continuing along that vein... He'll be found every morning sprawled over the caboose totally in the buff passed out with a half empty bottle of Boone's in his hand. Ahhhh, the life.
Posted by guest , Oct 05, 2009 9:42AM
@ 8 = gay
UBS is so sad.
Posted by pfluger , Oct 05, 2009 9:55AM
Charlie on (via phone)!
Dishing on BA/Lewis speculation.
Check out the photo of CG!!! They apparently have a photo from when he was 21 years old!
Posted by pfluger , Oct 05, 2009 9:57AM
"New CEO before de enda da month!"
-cg
Posted by Charlie Gasbreather , Oct 05, 2009 10:12AM
@15 Le me fix dat for youse.
"New DON before de enda da mont!"
Dis n'dat.
-cg
Posted by guest , Oct 05, 2009 10:12AM
@8=Suicide bomber and gay; Da gay bomber.
\~/
Posted by guest , Oct 05, 2009 10:18AM
KL sleeps with da fishes by enda da mont.
-cg
Posted by guest , Oct 05, 2009 12:46PM
Where on earth are Erin Burnett and boyfriend vacationing?
Be careful of those peeping Toms,okey?
Posted by Erin B , Oct 05, 2009 12:54PM
@10 You call THAT pear-shaped?
@6, it still works. Don't let them get you down.
Posted by Prince , Oct 05, 2009 1:10PM
@ 19
There's an annual real property fair in Dubai starting today. Maybe she'll get one of those as gift..just saying.
She likes this song "If I had a million dollar" which run a segment of her morning show.
Posted by guest , Oct 05, 2009 5:06PM
Bess - you can't talk about plunging necklines without giving us a pic. We want to see SheBare!