Opening Bell: 11.10.09

By Dealbreaker

steven_cohen.jpgSAC Said To Tell Investors A Review Found No Suspicious Trading (Bloomberg)
Despite what this Choo Beng Lee character may claim, it is all good at 72 Cummings Point Road. SAC has conducted its own investigation of the situation and cleared itself of any wrongdoing: “SAC Capital reviewed its buying and selling of stocks cited in the Galleon Group LLC insider-trading cases and found nothing suspicious, according to one of its investors. ”
Barclays Remarkable Bargain (NYT)
According to creditors, Barclays bought Lehman for $5 billion less than it was worth.
Spherix Sought Money, ‘Edge’ From Silicon Valley Executives (Bloomberg)
Which makes sense, since the founder of the tech fund, Choo Beng Lee, has admitted to insider trading.
Lazard Eying New Leadership Structure (NYP)
The firm may split the chairman and CEO role, the former going to interim CEO Steve Golub, the latter Ken Jacobs. Gary Parr might have some responsibilities thrown his way, as well.
Loan Star Cuts Fees To Seed Up New Funds (WSJ)
Distressing news of the morning: John Grayken, the head of Lone Star Funds, wants to raise $20 billion to buy pools of troubled mortgages and other kinds of distressed debt. To get the money, Mr. Grayken is doing what once would have seemed outlandish for a brand-name deal maker like Lone Star: He is cutting some of his fees by more than 50%.

Comments (16)

  1. 1
    Posted by guest | November 10, 2009 at 8:04 AM

    nothing to see here, folks.
    -SC

  2. 2
    Posted by guest | November 10, 2009 at 8:08 AM

    what the hell is going on with his hair in that pic?

  3. 3
    Posted by guest | November 10, 2009 at 8:09 AM

    Break me off a piece of that man meat. Sex on a stick I tell you.
    -PJ

  4. 4
    Posted by guest | November 10, 2009 at 8:10 AM

    He looks so regal in that pic.

  5. 5
    Posted by american bandersnatch | November 10, 2009 at 8:15 AM

    Sensy, soooo ssseeennnssssyyyy.

  6. 6
    Posted by guest | November 10, 2009 at 8:17 AM

    I wonder if that fleece is comfortable

  7. 7
    Posted by guest | November 10, 2009 at 8:20 AM

    @6 it sure as shit is comfortable

  8. 8
    Posted by Seaman Bodine II | November 10, 2009 at 8:20 AM

    Wasn’t that guy in that movie with Will Smith, where he can’t get laid?

  9. 9
    Posted by guest | November 10, 2009 at 8:25 AM

    i have conducted a review of myself and found that i am hireable…please send offers

  10. 10
    Posted by guest | November 10, 2009 at 8:36 AM

    The crossed arms display an air of defiance, while the steely gaze says “I dare you mofo’s to just try it”
    ’tis not a man you want to mess with.

  11. 11
    Posted by guest | November 10, 2009 at 8:42 AM

    My penis is conducting an internal investigation of my secretary’s ass right now.

  12. 12
    Posted by guest | November 10, 2009 at 8:54 AM

    The crossed arms say I’m trying to look relaxed, but the face says I’m incontinent and trying to hold it in.

  13. 13
    Posted by guest | November 10, 2009 at 9:13 AM

    Cohen, the patron saint of insider trading, naked shorting and all around shenanigans, announced today that he didn’t do nothin’ wrong, adding prove it bitch.

  14. 14
    Posted by guest | November 10, 2009 at 9:50 AM

    “I’ll give you my Zamboni when you take it from my cold, dead hands!”

  15. 15
    Posted by guest | November 10, 2009 at 11:55 AM

    I found nothing suspicious about my trading, too.
    ~Nick Leeson

  16. 16
    Posted by guest | November 10, 2009 at 7:56 PM

    that photo is scary

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