• 14 Oct 2009 at 6:00 PM

Write-Offs: 10.14.09

By Bess Levin

$$$ “The financial system nearly collapsed,” the buzzed man in the bar told me, “because smart guys had started working on Wall Street.” [NYT]
$$$ Allen Stanford coughed up blood today. [AP]
$$$ Liz Claman: “If Yahoo fan groups spring up around us [because we're hot], that’s great. But it’s so tertiary to us. We are interested in communicating to viewers about money.” [Poynter]
$$$ Group Of Nuns Attacks Goldman Over Large Bonuses [BI]

Comments (25)

  1. 1
    Posted by guest | October 14, 2009 at 5:54 PM

    TGFD will burn

  2. 2
    Posted by guest | October 14, 2009 at 5:57 PM

    Liz Clammy is not hot. In fact she’s cold and damp to the touch.

  3. 3
    Posted by Barney F | October 14, 2009 at 6:10 PM

    You don’t want to know what I cough up

  4. 4
    Posted by Jimmy | October 14, 2009 at 6:17 PM

    Smart people? Really? What an insanely stupid article. Forget insanely low centrally planned interest rates, a banking system that would collapse without mandatory FDIC insurance, or insanely stupid lending standards. Blame credit default swaps?
    Sadly, none of the smart people ended up at the NYT.

  5. 5
    Posted by Joe Mac | October 14, 2009 at 6:23 PM

    #3 You go girl..

  6. 6
    Posted by guest | October 14, 2009 at 6:23 PM

    @4…all part of the perfect storm

  7. 7
    Posted by guest | October 14, 2009 at 6:26 PM

    4,
    I’m hesitant to stick up for Trillin, but that’s not what he’s saying. He’s saying exotic derivatives, complex deals on the PE side, and…well…quants. If you don’t partially agree with that, I don’t know where the fuck you’ve been for the past (particularly) 10 years. Sometimes things are far too complicated, and his hypothesis is that “smart Ivy kids,” whom had no business being on the street, took something simple and pure (sensing the markets) and bungled it up with a lot of stat. work that went bust.

  8. 8
    Posted by Jimmy | October 14, 2009 at 6:40 PM

    Exotic PE deals, exotic derivatives bring down companies, stupid investors, not markets. Sure some of these smart people were unable to see the whole picture, but the actual stupid people (fake smart) are those engineering the entire fucking economy. Systematic problems are caused by problems in the system, not super bright risk takers.
    The problem, shockingly enough, stupid people empowering, and entrusting amazing power to the government. You may say smart people did this too, I say you don’t know what a smart is.

  9. 9
    Posted by guest | October 14, 2009 at 6:43 PM

    So hot or so cold that JENNA Lee is dating a Navy Seal,

  10. 10
    Posted by Joe Mac | October 14, 2009 at 6:54 PM

    FBN is killin’ it! Jenna, liz, and crew run circles around the heffers at the peacock.MF, you still do it for me tho.

  11. 11
    Posted by guest | October 14, 2009 at 7:17 PM

    Bess -
    Allen Stanford coughed up blood today? Big frigging deal. So did I. Every time I read one of Greg’s posts.
    And so did everyone else that reads DB. If that is news, PRINT THIS!!!
    Fondly,
    Gregs Mom

  12. 12
    Posted by guest | October 14, 2009 at 7:17 PM

    One anchor three cups
    http://b.imagehost.org/0241/mcc2.jpg

  13. 13
    Posted by Anal_yst | October 14, 2009 at 7:32 PM

    @4/7/8
    I think the point was that less smart people (who believed they were smarter than they were proven to be) were in charge of those who were “smart” and because the former didn’t understand the latter, but ruled anyway, sh*t hit the fan.

  14. 14
    Posted by guest | October 14, 2009 at 7:37 PM

    so who won the Dow 10,000 references on CNBC contest?

  15. 15
    Posted by guest | October 14, 2009 at 8:34 PM

    Doze clogs is mine.
    CG

  16. 16
    Posted by guest | October 14, 2009 at 8:54 PM

    I am watching “Who Shot JFK” and wondering why I didn’t target Greg.
    LHO

  17. 17
    Posted by guest | October 14, 2009 at 10:16 PM

    @8
    you sir are no Bruce Wasserstein. Now STFU.
    -guy who retained Wasserstein and Perella

  18. 18
    Posted by guest | October 14, 2009 at 10:20 PM

    18 here.
    @7, same goes for you.
    -OVERINDULGED DEALBREAKER COMMENT OF THE MOTHERFUCKING DAY.

  19. 19
    Posted by guest | October 14, 2009 at 10:47 PM

    Bess Levin aren’t you supposed to be at AutismSpeak Dinner party tonight?
    I heard it’s to be hosted by Erin Burnett and a chef.

  20. 20
    Posted by guest | October 14, 2009 at 11:07 PM

    @20 creeper…

  21. 21
    Posted by guest | October 15, 2009 at 12:24 AM

    @20, that IS kinda creeperish

  22. 22
    Posted by guest | October 15, 2009 at 12:53 AM

    http://online.wsj.com/article/SB125556536458586219.html
    Sick of this Goldman shit!
    -LB

  23. 23
    Posted by guest | October 15, 2009 at 1:29 AM

    Guest@#1…
    Wasserstein was the son of a turd. He lived as a turd, and now he is merely a lifeless turd. Soon he’ll be forgotten. A year from now, few will even remember his name.
    TGFD burn? For pissing on Bruce? HaHa.
    The Guy from Delaware

  24. 24
    Posted by Seaman Bodine II | October 15, 2009 at 7:23 AM

    you’d think during earnings DB would get off its ass and put that shit out there

  25. 25
    Posted by guest | October 15, 2009 at 7:28 AM

    @SB- It is only the vampire squid. Nothing to see here. Greg will come in around 10 with a thrilling story about the government debt of Azerbaijan.

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