January 2010

  • News

    Write-Offs: 01.29.10

    $$$ UBS Currency Man Drops Bonus to Run Luxury Ski-Maker [Bloomberg] $$$ Matt Goldstein: AIG filing casts doubt on “limited exposure” claim [Reuters] $$$ Brian Moynihan Is Super Humanly Immune To Cold [BI] $$$ Wall Street 3: Money Never Sleeps [TRB] $$$ The Gorilla Juicehead Economy [NYM]

    / Jan 29, 2010 at 5:23 PM
  • News

    Tool Of The Week: What To Expect In The 15th Goldman Interview

    Earlier this week, thespian-cum-market moving BSD Shia LaBeouf offered a little piece of wisdom re: getting yourself hired at Goldman Sachs. Sayeth ShiLa: “I talked to a lot of Goldman Sachs people, and one of the requirements of getting a job takes place in the first five minutes of an interview. They take you out […]

    / Jan 29, 2010 at 3:52 PM
  • News

    Gunfight At Davos

    It’s getting ugly in Davos. As we wrote previously, everybody is mad at everybody and the booze is missing, which is not helping people’s mood. (Except for Vikram, who, as a commenter noted, looks in the CNBC interview “like he’s sitting in the Zen garden of his dreams.”) “Both the banks and the regulators think […]

    / Jan 29, 2010 at 3:43 PM
  • News

    Barclays Banker Prevails: Son’s School Will Be Drag-Show Friendly Zone

    Back in November, former Lehman Brothers head of investment banking/current Barclays employee of the same title Hugh “Skip” McGee wrote a tear-stained letter to his son’s boarding school. The Skipper had held his tongue until then, but no longer could he sit by and watch as he flushed thousands of dollars down the toilet each […]

    / Jan 29, 2010 at 2:53 PM
  • News

    Sheila Bair Not Yet Sure How She Feels About Obama Proposals

    SheBair is oddly pulling a Geithner, flip flopping around the prop trading ban proposal. Just like her nemesis, she’s adopting a “yeah, it’s a great idea but I don’t know” attitude toward Obama’s proposal. At Wednesday’s AIG hearing, Congressman McHenry asked Timmy G. how he could back the Volcker Rule while having said that he […]

    / Jan 29, 2010 at 2:09 PM
  • News

    Buy Lenny Dykstra’s House– BYO Toilets

    What’s this joyous news you hear? I’ll tell you what– Lenny Dykstra’s house is back on the market! It’s the same one– Wayne Gretzky’s old place– that Nails tried to sell back in June 2008 for $24,950,000, hoping for a 33% return (LD bought the Thousand Oaks manse for $18.5 million on in August 2007), […]

    / Jan 29, 2010 at 12:48 PM
  • News

    Stiglitz: As Far as I Know, CDOs Squared Didn’t Solve World Peace

    And back at the let’s break-the-banks-or-not Davos game–today: Stiglitz gives his two cents. The Nobel Prize laureate, on team Roub-WB, is calling for more regulation. “When they win they walk off with the profits, when they lose the taxpayer pays,” he pointed out. “We really need to go more directly at these issues like incentives.”

    / Jan 29, 2010 at 12:07 PM
  • News

    Help Name Charlie Gasparino’s New Book

    In chronicling the ‘unholy alliance among Big Business, Big Banking, and Big Government,’ which has brought this country to its knees, a sober voice is required to uncover and distill the backdoor deals, the smoke and mirrors, and the ultimate tragedy found within. That voice belongs to Charlie Gasparino. Which is why it is with […]

    / Jan 29, 2010 at 11:40 AM
  • Banks, News

    Stephen Schwarzman: Stop Bashing the Banks

    “The tone against them is so difficult that they may lack the confidence to just start doing their normal function.”

    / Jan 29, 2010 at 11:02 AM
  • News

    Roubini Needs You to Find Him a New Name

    Nouriel Roubini is not happy with his Dr. Doom nickname anymore. It’s getting old, it’s not funny anymore and it just plain sucks. He doesn’t want to go down in history with such a horrible moniker, and what with his glam life and vagina walls- it just doesn’t match.

    / Jan 29, 2010 at 10:28 AM
  • News

    Ask An Expert: What’s Love?

    Whenever I need advice on something, I like to go to an expert in the field. Protein shakes: Charlie Gasparino, ritual sacrifice: Lloyd Blankfein, foreign objects in ass: Ping Jiang, you get the idea. To that end, the last time I needed some real talk on love, I opened up my Rolodex and flipped through […]

    / Jan 29, 2010 at 10:15 AM
  • News

    Opening Bell: 01.29.10

    AIG Staff Accept Bonus Cuts (WSJ) 95% of employees agreed to take a 10% cut to their retention bonus in order to get the money February 5 instead of March 15. Brian Moynihan: Bank of America Is No Too Big (CNBC) “Bank of America is not too big,” Moynihan said at the World Economic Forum […]

    / Jan 29, 2010 at 8:30 AM
  • News

    Write-Offs: 01.28.10

    $$$ Morgan Stanley looking into legal action against ZeroHedge [Greenwich Time] $$$ Frog Named For ADM’s Appleby [FINalternatives] $$$ JPMorgan Names Black Vice-Chairman [Reuters] $$$ Happy Days Aren’t Here Again [DealBook]

    / Jan 28, 2010 at 6:55 PM
  • News

    Forbes‘ Favorite Billionaires

    Forbes dropped its list of the world’s most powerful billionaires and none other than Hizzoner holds the first spot, thanks to a fortune estimated at $17.5 billion and an ever-growing media empire, and the fact that he doesn’t take shit from anyone. Check out who else made the list. Anyone overlooked?

    / Jan 28, 2010 at 4:46 PM
  • News

    Senate Stickin With Beard

    / Jan 28, 2010 at 4:00 PM
  • News

    Wall Streeters Demand Equal Rights, Respect

    Most of you are too proud to complain about this but there’s something that’s been irking me for a while now. We’ve dancing around the subject but neither dancing nor silence get us anywhere and it’s time to speak up. You, my lovies, are being treated unfairly. Discriminated against for something you have no control […]

    / Jan 28, 2010 at 3:40 PM
  • News

    Davos Attendees Pissed About Lack Of Free Booze

    So here’s what really’s pissing off Davos attendees. It’s not some bankers’ behind-the-door plotting. It’s not the endless convos about whether breaking up the banks is a good or a bad thing and it’s not how to help Haiti. Nope. None of those trivialities. What people are really angry about is that this year -just […]

    / Jan 28, 2010 at 2:51 PM
  • News

    The Fruits Of Shia LaBeouf’s Labor

    Hours shadowing BSD’s on the trading floor. Months riding the highs and crashing the lows of having an online brokerage account. Countless meetings with Goldman Sachs executives. It’s all come together. For this moment.

    / Jan 28, 2010 at 2:10 PM
  • News

    Depraved Reuters Reporter Violates Stephen Schwarzman, Erin Andrews-Style

    We’ve written previously about the sick sons of bitches running the smut factory known as the Wall Street Journal. So this is the sort of thing I would expect from them, and not from Felix Salmon or the rest of the gang at Reuters but surprise! I was wrong. After the jump– I won’t put […]

    / Jan 28, 2010 at 1:56 PM
  • News

    Peter Madoff: Deaf, Dumb Or Stupid

    Totally forgot about Madoff, what with the AIG hearings, Ben B.’s confirmation and Davos face-offs. But there were news from the Madoff household yesterday, with Peter, Bernie’s brother and the firm’s former compliance officer, being the subject of a criminal investigation related to the foundation of Senator Frank Lautenberg. We’re shocked to learn that Peter’s […]

    / Jan 28, 2010 at 1:15 PM
  • News

    The Mysterious Case of AIG’s Schedule A

    Kudos to Matthew Goldstein who yesterday got a hold of AIG’s much sought-after Schedule A, “List of Derivatives Transactions.” Let’s hope that Hollywood optioned the AIG saga, because the story is too good to pass. (I’m digressing for a moment, but any thoughts on who could play Geither? Blankfein? Liddy?) While the unveiling of Sked-A […]

    / Jan 28, 2010 at 12:20 PM
  • News

    Bonus Watch ’10: BofA/Merrill Lynch

    “S&T, Junior VPs: bonuses $250-350k on top of $150k base, but structure blows. 20% cash upfront, 10% equity this year, 10% equity next year, 60% cash paid out in 3 years. Rumors of clawback being tossed about on deferred.”

    / Jan 28, 2010 at 12:10 PM
  • News

    God Had Paulson’s Back During The Crisis, Sarah Palin Got Too Close For Comfort

    Hank Paulson’s memoir, The Day I Threatened To Break Ken Lewis’s Legs, is out February 1. Presumably there’ll be many pages devoted to the topic closest to the the former Treasury Secretary’s heart– birds– but today we get a sneak peak at the role of another one of HP’s homeboys– God. As most of you […]

    / Jan 28, 2010 at 11:46 AM
  • News

    Happy Birthday, Charlie Gasparino

    On this most significant day in history, Charles Gasparino has has gifted us all with an overflowing bounty of mirth.

    / Jan 28, 2010 at 11:00 AM
  • News

    John Mack: In The Past, We Took Comp Too Far

    In the last few years “there’s been some discipline” but bankers “still need to be a lot more thoughtful and sensitive about how they pay themselves.”

    / Jan 28, 2010 at 9:59 AM
  • News

    Opening Bell: 01.28.10

    Banks See Ways Past Pay Limits (WSJ) Bank of America Corp. and Citigroup Inc. are doling out shares that employees can sell within months–much sooner than normally allowed. Other giant banks, including Goldman Sachs Group Inc. and Royal Bank of Scotland Group PLC, let certain employees borrow money to relieve personal cash crunches. And some […]

    / Jan 28, 2010 at 9:30 AM
  • News

    Write-Offs: 01.27.10

    $$$ Matthew Goldstein reveals AIG’s Schedule A, which Janet Tavakoli says “would have deeply embarrassed Goldman Sachs and Merrill,” had it come out in the public domain late in 2008, obviously failing to realize that Goldman doesn’t embarrass, which is an emotion of peasants. Goldman only says fuck yes, these are the facts, do we […]

    / Jan 27, 2010 at 5:38 PM

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