Huge Profits Put Goldman On Track For Bonus Bonanza (Telegraph)
GS is expected to dole out $6 billion or $700,000 per employee this year, though nothing is set in stone and if people don’t quit their bitching about “obscene bonuses at Goldman” maybe they’ll give out nada.
Elinor Ostrom, Oliver Williamson Win Nobel Prize for Economics (WSJ)
Ms. Ostrom “challenged the conventional wisdom that common property is poorly managed and should be either regulated by central authorities or privatized,” the Nobel judges said. Mr. Williamson, who is at the University of California at Berkeley, was cited for “for his analysis of economic governance, especially the boundaries of the firm.”
Citi fined amid tax crackdown (FT)
$600,000 “over derivatives transactions that were partly designed to help foreign clients avoid taxes on dividends in a move that could herald a wider crackdown against Wall Street banks that used similar strategies.”
Bruce Wasserstein Hospitalized After Irregular Heartbeat (WSJ)
Lazard said last night Wasserstein’s condition “is serious, but he is stable and recovering
Barclays to sell £4bn assets (FT)
The Brits are hoping the spin off will please shareholders. There will be a ‘codename’ involved.
Wesley Gets ‘Sniped’ (NYP)
Wes may have been the victim of a Ponzi scheme during the same time he was choosing not to pay taxes.
Summers To GOP’s Boehner: Recovery Act Is Working (WSJ)
“Thanks largely to the Recovery Act, alongside an aggressive financial stabilization plan and a program to keep responsible homeowners in their homes, we have walked a substantial distance back from the economic abyss and are on the path toward economic recovery,” Summers said in a letter to House Republican Leader John Boehner, R-Ohio.
Citi Sold Phibro to Shed Risk-Taking Tag on CEO’s Payout Plan (Bloomberg)
No shit, really?
Posted by guest , Oct 12, 2009 8:24AM
thank god someone else has to work today
Posted by guest , Oct 12, 2009 8:25AM
avenge me!!!
-wes snipes
Posted by guest , Oct 12, 2009 8:40AM
cg taking the day with his eye talian brethren I assume?
Posted by guest , Oct 12, 2009 8:52AM
@1
No joke man. It's deathly quiet on the screens today. On another note.
WT F is a 600K fine to a company with a 105B+ market cap? And why fine them because the reality is we are paying a good portion of that anyways.
Posted by guest , Oct 12, 2009 8:53AM
I wish I was Italian so that I can partake of all these extra days holiday they get every year.
Posted by guest , Oct 12, 2009 8:58AM
Losing money to a Ponzi scheme is just the new Vampire conspiracy. Once I stab them in the chest with my long blade they'll be begin to gimme my money back.
Wesley 'Blade' Snipes
Posted by NotNasser , Oct 12, 2009 9:15AM
The two Nobel winners seem worthy. But no recognition for Dennis Kneale????
The other muppets must be furious.
Posted by merkin capital partners , Oct 12, 2009 9:16AM
Does this mean the NYT just found 2 more blow hards to drone on unintelligibly about topics unrelated to economics?
Posted by guest , Oct 12, 2009 9:26AM
@MCP
Listen good you little Wall Street whelp. I have a Nobel, and you don't. Whatever I say is God's own truth, and it really doesn't matter if the topic is economics or movie reviews. I'm talent on loan from God to the Earth. He sent me to be salt, light, a hope in the darkness, and His own wrath on on anyone who thinks the government can't do everything better. So stop speaking, bow before me, and suck on my prestige!
P. Krug
Posted by Investorcluzo , Oct 12, 2009 9:29AM
looks like wesley may win his appeal now that it turns out that he really didn't make money on those investments...
Posted by guest , Oct 12, 2009 9:50AM
Wait a minute Wasserstein has a heart?
Posted by guest , Oct 12, 2009 12:22PM
@11, +1 abnormal palpitation
Posted by guest , Oct 12, 2009 12:49PM
What? Obama didn't win the Nobel Prize for Economics. Ain't gonna' go down well with his homies.
Posted by guest , Oct 13, 2009 9:35AM
Lehman Bros was all over the tax-avoiding derivs transactions; now the whole team is at Nomura (counsel included). Anybody paying attention???