• 28 Jan 2010 at 9:30 AM

Opening Bell: 01.28.10

By Dealbreaker

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 U.K. banks have considered raising base, or cash salaries–funds that won’t be subject to the country’s new 50% tax on bonuses.
Obama: Don’t Run For The Hills (NYT)
Also, the bank bailout was “about as popular as root canal.” T/F?
BofA’s Moynihan Gets 19% Raise (WSJ)
Approved by the Charlotte, N.C., bank’s board, the salary ($950,000) represents a 19% rise from the 50-year-old Mr. Moynihan’s base pay in 2008. His predecessor typically received a base salary of $1.5 million.
Subprime: The Lung Cancer of Banking? (DealBook)
In Davos, one senior banker, sipping his cup of espresso, sighed deeply when asked about the trust deficit in the financial industry these days. “Tobacco companies have it so easy by comparison,” he said.
Goldman Sachs Seen as Favored by Regulators, New York Fed’s E-Mail Shows (Bloomberg)
Are you blown away by this revelation?
Soros Warns Gold Is Now The ‘Ultimate Bubble’ (Telegraph)
Jorge from Davos: “When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold.”
Enter Geithner, The Politician (WSJ)
As Rep. Michael Turner put it in a congressional hearing Wednesday about Mr. Geithner’s role in the bailout of American International Group Inc., “you are absolutely a politician.” “Is that a compliment?” Mr. Geithner responded.

Comments (18)

  1. 1
    Posted by guest | January 28, 2010 at 5:43 AM

    bout damn time. I was going through withdrawal

  2. 2
    Posted by guest | January 28, 2010 at 5:44 AM

    re first link, nice of the wsj to credit dealbreaker on a story it had a week ago. not.

  3. 3
    Posted by guest | January 28, 2010 at 5:49 AM

    Erin is looking pretty good this morning.

  4. 4
    Posted by guest | January 28, 2010 at 5:56 AM

    I usually watch CNBC without wearing pants.

  5. 5
    Posted by guest | January 28, 2010 at 5:59 AM

    "The ultimate asset bubble is gold"
    OH YEAH, SOROS? FIAT CURRENCY FROM UNCLE BEN WON'T SAVE YOU WHEN THERE IS ANARCHY ON THE STREETS. DOLLAR = TP! GO GOLD!
    -HuffingPoofBlogger and sometime ZH contributor

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

    @4, me too!
    -Jim Cramer

  7. 7
    Posted by guest | January 28, 2010 at 6:35 AM

    @5 Have you seen/read 'The Road' yet?
    When it all goes to shit, lead will be the only 'currency' in 'circulation'.

  8. 8
    Posted by Eli | January 28, 2010 at 6:48 AM

    @5 – charcoal will be far more valuable than gold in the anarchy scenario.

  9. 9
    Posted by guest | January 28, 2010 at 6:48 AM

    @4 – I didnt know there were times we're expected to wear pants. Can you advise further on this new protocol?

  10. 10
    Posted by guest | January 28, 2010 at 6:51 AM

    Erin's top definitely lifts and separates.

  11. 11
    Posted by guest | January 28, 2010 at 6:52 AM

    @5,
    Please remove the testicles from your eye sockets. They are obscuring your view of reality.
    Thanks,

  12. 12
    Posted by guest | January 28, 2010 at 6:52 AM

    I never wear pants when I watch the Westminster Dog Show.
    D. Kneale

  13. 13
    Posted by guest | January 28, 2010 at 6:53 AM

    @9 – it's nothing that you wouldn't expect, with the exception that for formal events the bow tie around Mr. Happy should be solid. Polka dots and stripes are no longer acceptable.
    -Not 4

  14. 14
    Posted by guest | January 28, 2010 at 6:55 AM

    12,
    Well done.

  15. 15
    Posted by guest | January 28, 2010 at 7:08 AM

    @11 http://dictionary.reference.com/browse/sarcasm
    -not 5

  16. 16
    Posted by guest | January 28, 2010 at 7:16 AM

    True. And like a root canal, the pain lingers long after you've settled the bill.

  17. 17
    Posted by guest | January 28, 2010 at 7:26 AM

    Serious question, why does Hugh Son hate Goldman Sachs?

  18. 18
    Posted by guest | January 28, 2010 at 7:41 AM

    If anyone was worried about Obama not getting it. Dont worry, it seems Washington is to blame not him. For some reason, he isnt part of Washington and apparently has nothing to do with it.
    I sure do hope he goes to Washington soon to clean things up.
    Washington is fucking up everything and now seems to really want to shit on NYC.
    I wonder if he will pick up that mop…

Leave a comment

You can log in with your account or comment as a guest below.

   or