Fund Chief Snared By Taps, Turncoats (WSJ)
Tears for only hedge fund manager with the sense of humor to tase his employees and hire midgets as jokes: “That morning, the trading day began early like any other at Galleon’s Madison Avenue offices. Then, an investor who lived in Mr. Rajaratnam’s building called to say he had seen the FBI arrest Mr. Rajaratnam. Galleon employees began texting each other with the news. One trader burst into sobs.”
E-mails inside AIG reveal executives struggling with growing crisis (Washington Post)
In late July, Goldman Sachs, one of the firm’s largest trading partners, challenged Financial Products’ numbers, asserting that Goldman’s calculations showed a significant drop in the swaps’ value. That drop, Goldman contended, triggered provisions in the swaps contracts requiring AIG to post hundreds of millions of dollars in collateral to protect Goldman against the apparent escalation in risk. “They are not budging and are acting irrational,” Tom Athan, a Financial Products executive, wrote on Aug. 2 to Forster after a tense conference call with Goldman employees. “I feel we need Joe [Cassano] to understand the situation 100% and let him decide how he wants to proceed.” Athan added, “This isn’t what I signed up [for]. Where are the big trades, high fives and celebratory closing dinners you promised?”
Rich Cling to Life to Beat Tax Man (WSJ)
Just hold out ’til Friday, li’l fellas! Then you’re free to bite the big one.
Tiger Hunt Sparks Tall Tales (NYP)
Unbelievably, the Tiger Woods and his 97 affairs storyline has resulted in some lies. Thankfully, the Post is here to set the record straight, namely about TDubs and Rachel Uchitel shacking up together. It’s not happening. We can all breathe easy now.
Thundercats Movie Canceled (Vulture)
Will no heroic hedge fund manager step up and finance this thing?
Set of identical twins busted in long-term $2M investment scam (NYDN)
Makara and Tsele Nkhereanye, 38, who live with their mother, maintain their innocence.
In the Loftiest of Buildings, High Art Still Finds a Home In The Lobby (NYT)
Sure, no mention of the brass Mallomars recently installed in Stamford. Assholes.
GMAC Set for Another Cash Infusion (WSJ)
What’s $3.5 billion among friends?
Cleave Watch: Amanda Drury (DB)
I woke up to emails from several of you claiming sightings of “very aggressive amounts of cleave, even for AD’s standards.” Naturally, I took the time to investigate. This is what she’s wearing today:
…which would make all of you either a) liars (capital “L”, small “i”, small “a”, small “r”, period. Now shut…the fuck.. up!) or b) people who despite claiming to be huge fans, don’t know the Druries at all, or what they’re capable of. Shape up. (She does say “titters” in this clip so maybe that was a wink-wink in our direction, in spite of your ignorance and predilection for wasting my time.)
Programming Note: We’re on an abbreviated vacation-esque schedule ’til Monday (opening/closing wraps and possible though unlikely updates should the urge to reach out and touch you move us). We still want to hear from you, though, so if anyone notable gets nailed for insider trading or his sex tape surfaces, do not hesitate to let us know.
Q: This isn’t what I signed up [for]. Where are the big trades, high fives and celebratory closing dinners you promised?
A: At GS. Read the fine print next time
We need to send word to CNBC wardrobe department (presuming for a moment such group exists), SHOW US THE DRURIES!
@2 please. like they don't know exactly what they're doing.
@2 please confirm you are not gay. That is all.
@4 why do you give a shit?
whoever emailed about AD should hang his head in shame.
"Naturally, I took the time to investigate."
I should change my name to Sherlock.
Well, my New Year's resolution is to no longer read these posts. It became addictive after I left this fine rag, especially as I logged in from a 3 month break in Hawaii as you people sat in your cubes and stressed about your non-existent bonus payments.
Time to move on, though, and this has gotten tedious.
Good luck.
The real "Greg Michaels"
@9 worst, most unfunny comment of the year. take a bow.
I'll second the emotion of another commenter who recently said, "…I love it when Bess takes us to the woodshed."
@9 = nob
the aussie's left eye needs a sherpard to herd it back toward the rest of her face
@galleon trader–no shame in crying. you can bet if my man was hauled off by the feds I'd be a weepy basket case.
-andrea tong
There are going to be a lot of bittersweet unpluggings on 12/31/10.
Sorry Gammy.
"There are going to be a lot of bittersweet unpluggings on 12/31/10. "
uh, no. they only have to hold on until january 1, 2010. then you can unplug.
My prediction for 2010: Shaztwat admits he is Greg
Did we go the entire year without any food challenges completed successfully? Any suggestions for fixing that tomorrow?
@17 nope, there were a couple done successfully, but they were kind of weak, with the exception of the cat food.
Ya'll need to calm down.
Like confetti out of a Times Square window on New Years Eve, those things will explode out of the CNBC screen on Monday 1/4/10. I just know it.
MCC had some "Taos Gorge" cleave earlier today. Also, Mandy's accent seems to have Americanized a bit after, perhaps, some Pygmalion efforts.
"The ryne in Spine fills mynely on the plyne…"
@18 right, I remember the cat food now. Still, it was a pretty weak showing this year
-17
CNBC new year's resolution:
Burnett takes over Closing Bell and Drury takes over Squawk and Street Signs
Or just all Amanda, all the time
@21 then man up and take one for the team.
Anal_Markers
I have just awoken from a 5 year coma and here at the recovery floor they have limited internet access. My wife says your site has all the latest buzz and, because she doesn't want to tell me, can any of you tell me what AIG and Citi stock are today? I loaded the boat 5 years ago and frankly I need to retire. Thanks in advance!
@25 Awful. Simply awful. Go back to sleep.
25 = BHO in a delorean
If you are a relative of @25 and are reading this, please pull the plug
@25 god GOD that's a kill yourself-worthy comment.
@25 really was bad
Hey 25, guess what? The good news is that the estate tax is going away for a year starting on Friday. The bad news? You aren't worth enough to have to pay no matter when you kill yourself.
Bess, wanna go halfsies on the abortion?
25 = Mike Leach
Idaho to cover/straight up this afternoon. the vandals are the turnaround story of the year, and they will be hungry for historic bowl win #2.
still on the fence about taking UofA
damn, 5 lines and still not funny. next up: aol stories…where is the joke finisher guy when you need him?
@32 is pretty awful/unfunny. what is happening here?
Trojan – leach got a raw deal. And how can you go against bowling green???
Tough crowd here I tell ya. Tough, let me tell you about tough! I got home the other night and my wife met me at the door in a see through negligee. Trouble is, she was just getting home too!!
Yeah, yeah I hear you. It's tough out there I say. I wish I had a job. I wish I had a job where I didn't have to wear a shirt you know…a real manly kind of job. I mean what the hell? My wife had no trouble finding one like that!!
My life is going to hell I tell ya. I got a novelty T-shirt the other day from my buddy. On the shirt it said "Master baiter" like I was an expert at baiting fishing hooks you know. I was wearing it when I got on a Southwest Airlines flight and you know what they did when I tried to board the plane wearing that shirt?? They jerked me off!! Can you believe it??
What did the prostitute say to the leper after servicing him?
"Thanks for the tip."
Why is Amanda's microphone blocking her cleave? Cleave blocking is a low cunning form of censorship.
@Fun
i rode the vandals for the first half of the season to make some decent money before they faded.
falcons have a great pass attack as well and amazing WR core, but i like the vandals QB with a 123 passer rating
@39 you say "censorship", I say "tease". If we gave it all away up front you wouldn't come back for more. We gotta keep it up somehow until we get this load off our chests
@35- Whether or not you think it's funny, it is Bess's own quote from an interview a few years back about one of her favorite pick up lines.
-32
Trojan – well after liking a&m and Miami the last two days maybe I'll go with the family on this one….shooooowwwww me ….VANDALS!!
41- you should see the boots she's kickin today. She make master Whitney proud.
I did not need to know this: Businessmen and women have taken part in telephone conference calls wearing pyjamas, underwear – or nothing at all, according to a study.
BT, the telecommunications giant, found that the most popular place to call into a conference was from the bedroom, followed by the bathroom.
http://www.telegraph.co.uk/news/newstopics/howabo...
@Tax Chick,
Question: Are you fat or possibly just big boned?
Dwight Shrute
TC – this is the reason video con calls have been slow to catch on, no one wants to watch the CFO drop a deuce while discussing the potential capitalization of excess TP.
@hoi polloi 15, you perhaps come from plebian stock and are thus unfamiliar with estate tax law; after YE 2010, the estate tax goes back up to 55%. Hence the power grid-affecting wave of 12/31/10 unpluggings.
Have a good day at the factory.
-14
@46 speak for yourself
@33, that was an unbelievably bad firing there.
@45. Suck my balls.
Tax Chick
@Fun
Leach got a raw deal? The kids dad is an ESPN anchor, no? Seems Coach woulda served himself well to be extra careful, no?
Tax Chick is a fat girl with balls.
Color me horny.
-Ping
Don't tase me Raj!
have to agree with @anal.
why would a coach lock some kid in a closet, esp. if he knew his dad was on national television (much less, a channel dedicated to anything sporty) = jackass > kanye
Anal_yst, you should be locked in a closet more often.
Thoughts?
Anal – really? It's not like he hit the kid or anything! Leach made him stand alone in a training room in the dark. Ooooooooooooo. Our generation is a bunch of entitled self-indulgent pansies. This kid should toughen up and work harder and maybe he'd have more than 17 catches this year. And cry Less.
random- i just read Marlon Brando was an admitted bisexer. crazy. never wouldve figured that one
@51/54, locking a D1 football player in a closet for a couple of hours…in the world of pledge traning, they used to call that a pleasant Tuesday afternoon. All this hullaballoo is just another step toward the pussification of America.
Was it dumb of Leach? Sure. But you know what isn't dumb? The spread offense they use down there in Lubbock. I wouldnta fired him.
Locking people in closets is a totally appropriate enhanced medical technique.
- Jay S. Bybee, Assistant Attorney General, Office of Legal Counsel
That James kid is a real pussy. I think I will piss in his ass if I ever meet him.
You know who.
Anal/cluz/TC – no one in NY seemed to mind mike piazza in the closet for 10 years, what's all the uproar over 3 hours for this kid?
Well played, FUN. Well played.
For that matter, there are people who spend their whole lives in the closet. 3 hours is a cake walk.
Look I think the kid needs to stfu and man the f*ck, too, BUT, Coach musta known 1. the kid has b*tch tendencies, and more importantly, 2. his dad is on ESPN.
@58 – agreed on the "pussification" of america. I remember when you actually had to wear a suit every day as an analyst…today there is indeed a sense of entitlement that is hardly deserved. that said, if your best client's son was employed by your firm, would you fire him or just transfer the guy to a less taxing position?
@fun – I thougth all of the mets were gay? go yankees!
@the usuals
this just goes to show how weak the TT team is. only players in a pass-first, just offense-oriented program would complain.
at SC anybody locked in a closet would keep their mouth shut and walk away with a new house and/or escalade
This guy Anal_yst really has quite the following on here.
@cluz – Steinbrenner now thinks his alarm clock is a spaceship. Wheeeeeee. Enjoy your jersey shore fan base!
Tc – hey hey that makes me one for wedsnesday so far. Nice.
Anal – and now the coach has his freedom from an underpaying contract(relatively) and lubbock Texas and exposed this kid as a wet noodle. Brilliant. (he'll have a new job in under a month)
1) The closet was a video review room larger than a two car garage.
2) James is running for office in Texas.
3) Pres of Univ is a bufoon and the AD hated Leach for a long while (due to sending his name out for available coaching jobs at the end of the season).
4) They've been looking to not pay Leach for a while, and this is the perfect excuse (esp since $800k is due after the 31st).
5) If Leach was as guilty as all people think, why in the ef' would he make a legal claim?
-Killin' it in South Fla.
Good God I would have LOVED it if my coach at Columbia had locked me in a shed during my 4 years of football practices. Grow a pair James people.
@69 would you have loved it if he did it b/c you had a concussion?