February 2010

  • News

    Write-Offs: 02.26.10

    $$$ Gatorade drops Tiger Woods [WSJ] $$$ Another Madoff Defendant From the Fringes [Dealbook] $$$ A new way to buy and sell ideas. [The Atlantic] $$$ Are the Feds getting closer to nailing NIR Group for stock kickback scheme? [CTNews] $$$ Petra sets record, sells diamond for $35 million [Reuters] $$$ Utah Developer Provides A […]

    / Feb 26, 2010 at 5:32 PM
  • News

    Ken Lewis Wasn’t Completely Gypped Last Year

    No, he didn’t take a salary or bonus last year, which chafes. But don’t cry Strawberry Hill tears for Boone’s Boy just yet. ‘Cause there’s this: Former Bank of America CEO Ken Lewis received…$32,171 in 2009 as the bank struggled with loan losses and repaid billions in federal bailout money, according to an Associated Press […]

    / Feb 26, 2010 at 4:45 PM
  • News

    Vikram Is Watching You

    Team Citi can’t keep track of its own money, but they will track yours and that of your neighbor, thanks to the Bundle, which “removes the veil of secrecy from how other people save and spend their money.” For example, you can learn that “Singles, 36- to 49-year-olds in Dallas spend $57 per month on […]

    / Feb 26, 2010 at 3:13 PM
  • News

    Winners And Losers

    Apparently John Paulson’s luck hasn’t run out just yet.

    / Feb 26, 2010 at 3:10 PM
  • News

    Jamie Dimon No Longer Wanted In Hotlanta

    As of Wednesday, Jamie Dimon couldn’t fly through Atlanta, because he was at risk of being arrested, for illegally dumping used tires, according to CBS news. Apparently, though, ha ha, it was just a bit of a mix up.

    / Feb 26, 2010 at 2:56 PM
  • News

    How Will Eliot Spitzer Back Governor Paterson?

    As you’re aware, Governor Paterson won’t seek reelection ’cause of a few little bombshells in the Times. So Mr. P is having a press conference at 3 and we’re hoping he’s going to announce a Spitzer involvement in some capacity (as we wrote last week, the Gov has been asking Spitzer to “advise” him on […]

    / Feb 26, 2010 at 2:20 PM
  • News

    RBS Bonuses Maybe Not So Bad This Year?

    The other day we mentioned that RBS had been granted permission to give out bonuses, though casually suggested the sums wouldn’t be anything to write home about, unless you’re into subordinated debt, in which case, buckle up. There’ve been a few stories out about how the numbers were actually pretty okay, and while Bambi at […]

    / Feb 26, 2010 at 1:40 PM
  • News

    Robert Benmosche Loves You All

    As you know, AIG’s fourth quarter results came in– not so good!. In any case, Bobby B. is happy and wants the world to know it. AIG reported a loss of $8.9 billion in the fourth quarter, which is an improvement from the $61.7 billion loss in the year-ago period. And this, my friends, is […]

    / Feb 26, 2010 at 12:59 PM
  • News

    Chuck Grassley Wants To Talk To Lloyd Blankfein

    Senator Chuck Grassley would like Lloyd Blankfein to please stand up, leave his nuclear balls behind and explain what the deal is with the ad Goldman placed in Politico about being “one of the principal underwriters of the “Build America Bonds” program. Specifically, Grassley is interested in finding out whether “the big Wall Street investment […]

    / Feb 26, 2010 at 12:40 PM
  • News

    The ‘Brotherhood’ Of The SAC

    Bloomberg Markets magazine has a long profile on SAC Capital today, and the grand poobah who runs the place, Stevie C. For those of you who’ve never had the pleasure of working for the king, here’s a bit of a primer. * For the serious neophytes, who should be ashamed of themselves for not knowing […]

    / Feb 26, 2010 at 11:15 AM
  • News

    Opening Bell 02.26.10

    AIG reports $8.9 bln quarterly net loss (MarketWatch) AIG Chief Executive Robert Benmoshe said the insurer is making “significant strides” toward selling two big businesses, American International Assurance Company, Ltd. and American Life Insurance Company. Blonde captures attention at TZ Ltd bail-out (SMH) “The room was sealed from prying eyes and shareholders were safely ensconced […]

    / Feb 26, 2010 at 10:00 AM
  • News

    Write-Offs: 02.25.10

    $$$ A little more info on the changes at Pirate/Captain Jack/Doubloon Capital we’ve been writing about. [WSJ] $$$ Bonus Watch: RBS [Guardian] $$$ The Street’s jobless recovery [Reuters] $$$ Jon Corzine To CNBC? [HuffPo]

    / Feb 25, 2010 at 6:10 PM
  • News

    Correction: Citi Loves The Gays

    There were some rumors today that Citi hated the gays after the bank account of Web site Fabulis was shut down. But Citi now says it was all based on technical issues and the account has been unblocked, and Fabulis just wants to put the whole thing behind them. Also, Citi would like to remind […]

    / Feb 25, 2010 at 6:00 PM
  • News

    A Sign You’ve Truly Arrived

    It’s not when you’ve installed an ice skating ring in the backyard and it’s not when you no longer need to rent but rather own your own ice smoother. It’s not when Rolling Stone writers are claiming your balls are equipped with TNT. It’s not when you’ve bought your wife a rhinestone encrusted Lamborghini but […]

    / Feb 25, 2010 at 5:45 PM
  • News

    SEC Kicking Things Up A Notch

    As you might have figured out, the SEC can’t do anything right besides ranking the best top 10 porn sites, and relies on “crazy-brave” people to go after gangsters and do all the legwork for them. Today, though, the agency really showed some initiative by charging Madoff’s director of operations, Daniel Bonventre, with some wrongdoing, […]

    / Feb 25, 2010 at 4:49 PM
  • News

    Harry Markopolos Contemplated Killing Bernie Madoff And Blaming It On The SEC

    Not so much because Bernie was a crook ruining the lives of thousands of people, Kevin Bacon included, but because Markopolos was just so damn fed up with the idiots running the Securities and Exchange Commission. So it was kind of perfect, see, because a) Berns really did need to go down for the dirt […]

    / Feb 25, 2010 at 3:59 PM
  • News

    Harry Markopolos Wishes He’d Looked Eliot Spitzer In The Eye

    As we wrote yesterday, Harry Markopolos has a book hitting the shelves next week. But, as Marko is realizing, the price of fame is high and calling Madoff the “lowest form of scum” can be hazardous. He now has to wear more disguises (mostly wigs) and is afraid for his safety. But he is “crazy-brave” […]

    / Feb 25, 2010 at 2:45 PM
  • News

    Ben Bernanke Taking A Look At Greece

    Ben Bernanke is looking into Goldman’s Greek shenanigans, which may or may not have been strictly kosher- depending on if you pray at the House of LB or the house of Taibbi. The deals were brokered in 2001, so yeah, nine years seem about a reasonable amount of time for the Fed to start worrying. […]

    / Feb 25, 2010 at 1:13 PM
  • News

    Madoff Daughter-in-Law, Grandchildren Looking To Ixnay On The Adoffmay Amenay

    It’s not that Stephanie Madoff, wife of Mark, sister-in-law of Andy, D-in-L of Bernie and Ruth isn’t proud of the name or family she married into. Far from it. It’s just that she’s been thinking about it and it just doesn’t “mesh” so well with the image she’s going for. Stalin would be better. Or, […]

    / Feb 25, 2010 at 12:29 PM
  • News

    Shark-Filled Aquarium Leaks– Damien Hirst’s Whereabouts Currently Unknown

    New Dubai Mall evacuated after cracks appear in giant aquarium [DM via BI] Related: You Hear That? That’s The Sound Of Some Serious Lip Smacking In Southern Connecticut

    / Feb 25, 2010 at 12:04 PM
  • News

    Horse Semen, Scalding Hot Coffee: Matt Taibbi Suddenly Making So Much Sense

    When all is said and done, there are two types of men in this world. In one camp you have the kind who, when faced with criticism, will ably defend themselves, either through words or fists, or simply brush it off. In the other, you have the impotent little bitches. These are the ones who […]

    / Feb 25, 2010 at 11:47 AM
  • News

    Mack Thinks Size Matters

    John in-the past-we-took-comp-too-far Mack still thinks that the industry “doesn’t get it” and that the administration has been focusing too much on comp structure issues and not on size, which yes, is the only thing that matters. So the Mackster, who might be bored with his downtime and who does get it, is offering to […]

    / Feb 25, 2010 at 11:15 AM
  • Opening Bell

    Opening Bell: 02.25.10

    Obama Defends His Policies to C.E.O.’s (NYT) “Most Americans, including myself, do not begrudge reasonable rewards for a job well done,” he said. “What’s outraged people are the outsized bonuses at firms that so recently required massive public assistance. Once that money is fully repaid, I don’t believe it’s appropriate for the government to be […]

    / Feb 25, 2010 at 8:15 AM
  • News

    Write-Offs: 02.24.10

    $$$ Inmate named in extortion bid of SAC Capital: “Legal sources identified Hayim Regensberg, 44, as the inmate whom Balkany said he had spoken to about SAC. Regensberg was convicted last year of defrauding about a dozen people in a three-year long Ponzi scheme.” [Matt Goldstein] $$$ How A Texan Bagged Europe [WSJ] $$$ Ex-Street […]

    / Feb 24, 2010 at 5:43 PM
  • Communiqués, News

    Eddie Lampert Reads

    ESL founder and Sears Chairman Eddie Lampert released his annual letter to shareholders yesterday, in which he unloaded a year’s worth of angst. First, the rating agencies. While Eddie understands that they sometimes err on the side of caution, he just doesn’t agree “with all of the critical qualitative conclusions.” Next, business leaders, regulators, public […]

    / Feb 24, 2010 at 5:08 PM
  • News

    Poll: Should Stephen Schwarzman Kill A Whale Today?

    By now you’ve probably heard about the killer whale, Tilikum, that savagely murdered an SeaWorld employee today in front of a packed audience (according to a guest, the trainer was “thrashed around pretty good” and at one point, one of her shoes flew off). A devastating tragedy, and something that perhaps calls for an avenging. […]

    / Feb 24, 2010 at 4:52 PM
  • News

    Analyst Looking For A Cost-Benefit Analysis Of Chugging A Bottle Of Olive Oil For $2k

    He actually already did it but, you know, for future reference. Obviously your report should detail immediate-term physical effects. Update: Some added color: “He wasn’t allowed to puke for an hour starting 2.5 hours ago. Still has it down, but went home, apparently not feeling too well.”

    / Feb 24, 2010 at 3:51 PM
  • News

    Harry Markopolos On The SEC

    “They’re a bunch of idiots” the Whistleblower-in-Chief told New York Times magazine, demonstrating commendable restraint in not calling them “retards.” In related news, Marko’s book, No One Would Listen: A True Financial Thriller, co-written by hedge fund manager-cum-auteur David Einhorn, is hitting shelves next week. A signed copy is being sent Bernie’s way as we […]

    / Feb 24, 2010 at 2:45 PM

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