• 13 Jan 2010 at 8:00 AM

Opening Bell: 01.13.10

By Yaël Bizouati

‘Tipper X’ Hangs Over Galleon (WSJ)
Tipper X = Thomas Hardin, formerly a trader at Lanexa Global Management, one of Julian Robertson’s Tiger Seeds. X was tipped off on July 2, 2007, to a Blackstone Group Inc. takeover of Hilton Hotels Corp., according to the SEC complaint. After receiving the tip, the SEC says, Tipper X then tipped Gautham Shankar, a trader involved in the alleged “Octopussy” ring, about the takeover. Tipper X “traded profitably” on the tip, according to the SEC complaint, while Mr. Shankar bought 25,000 shares of Hilton and made a profit of $156,000, the complaint says. Mr. Shankar pleaded guilty to insider-trading charges and is cooperating with the government’s investigation as well.
SEC Sues Bank Of America Again, on Merrill Losses (Reuters)
The suit claims “Bank of America kept shareholders in the dark” and should have disclosed “fundamental changes” in Merrill’s health. It is seeking a fine and other remedies.
Fed Paid Record $46.1 Billion to Treasury In 2009 (NYT)
“This is a silver lining in that big cloud of the Fed having to intervene massively and expand its balance sheet. The good news is, there’s a little extra money.”
SEC To Name Investigative Chiefs (WSJ)
Enforcement Director Robert Khuzami is expected to announce the moves at a news conference today, along with the release of guidelines meant to encourage individuals to cooperate to earn credit for substantially aiding cases, people familiar with the matter say.
Is China The Next Enron? (NYT)
Thomas Friedman’s open letter to Jim Chanos.
Wall St Must Pay “Mad Scientists” Well (Reuters)
Wall Street executives in line for big bonuses are akin to “mad scientists” whose brilliance justifies the size of their pay packages, the head of the U.S. Chamber of Commerce said on yesterday. “They are like mad scientists,” Thomas Donohue said at a news conference held to discuss the chamber’s legislative priorities. “They are all mathematicians, and they are very mobile. They can go to private equity and hedge funds.”

Comments (19)

  1. 1
    Posted by guest | January 13, 2010 at 4:08 AM

    Friedman = idiot

  2. 2
    Posted by guest | January 13, 2010 at 4:09 AM

    @1 true

  3. 3
    Posted by guest | January 13, 2010 at 4:14 AM

    http://www.nytimes.com/2010/01/13/opinion/13wed1….

  4. 4
    Posted by guest | January 13, 2010 at 4:20 AM

    Does anyone have first-year mad scientist numbers?

  5. 5
    Posted by guest | January 13, 2010 at 4:24 AM

    I blinded her with science and some 90210 Kush.
    - Mad Scientist

  6. 6
    Posted by guest | January 13, 2010 at 4:28 AM

    Dr. Fellatio=mad scientist

  7. 7
    Posted by guest | January 13, 2010 at 4:30 AM

    i was actually just wondering what thomas 'the hack' friedman thought about current investing opportunities. thanks nyt

  8. 8
    Posted by guest | January 13, 2010 at 4:36 AM

    MAYO!

  9. 9
    Posted by guest | January 13, 2010 at 4:37 AM

    IS the NYTimes bankrupt yet?

  10. 10
    Posted by guest | January 13, 2010 at 4:37 AM

    5=Kush Dr, in Venice?
    and how is it that people fail to take the NYT with a commie grain of salt? effin pinkos- all of em.

  11. 11
    Posted by guest | January 13, 2010 at 4:41 AM

    Thomas Donahue = idiot.

  12. 12
    Posted by guest | January 13, 2010 at 4:42 AM

    Friedman = Thomas Donahue [sic] ?

  13. 13
    Posted by guest | January 13, 2010 at 4:43 AM

    @9 not until I say they are. They have their uses in the meantime
    -Carlos Slim

  14. 14
    Posted by guest | January 13, 2010 at 4:56 AM

    12=mathematician. examine your bonus.

  15. 15
    Posted by guest | January 13, 2010 at 5:02 AM

    math, science, PE, HF, same diff no diff.

  16. 16
    Posted by guest | January 13, 2010 at 5:17 AM

    Freiedman manages a wad of cash thrown off from Handbridge Capital. He's been very diligent in maintaining liquidity.

  17. 17
    Posted by guest | January 13, 2010 at 5:27 AM

    Finkle=Einhorn

  18. 18
    Posted by Cincinnatus C | January 13, 2010 at 5:31 AM

    Two hilarious pieces on Thomas Friedman, whose only good work was From Beirut to Jerusalem (and I read that a long time ago and am starting to wonder…)
    http://www.nypress.com/article-19271-flat-n-all-t...
    http://www.nypress.com/article-11419-flathead.htm...

  19. 19
    Posted by guest | January 13, 2010 at 10:15 AM

    Zerohedgers dacing like a Hebrew wedding:
    http://www.nytimes.com/2010/01/14/business/14sec….
    S.E.C. Suggests Curbs on High-Speed Trading

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