Ex-banker Steven Mandala steals $780,000 from Merrill Lynch, buys Ferrari (NYDN)
Oh no he di’int! “The money went into his parents’ checking account to purchase the sports car,” Korenstein said. “He purchased the Ferrari, drove the Ferrari, but it’s registered to his father’s name.”
Fox Business lures Gasparino away from CNBC (WaPo)
“I always wanted to work for Fox,” Gasparino says. “I don’t take chances with stories. I do take entrepreneurial chances with my career.” Gasparino denies that tensions at CNBC were a factor in his decision, saying “newsrooms are generally seething places” and he tends to “wear my heart on my sleeve.” But he did issue a warning to his former employer: “My job is to rip the lungs out of the competition for Fox Business Network.”
Busy Buffett Ends An Annual Meeting Tradition (Reuters)
Citing “escalating attendance and time constraints,” Berkshire Hathaway said on Tuesday Buffett will discontinue a traditional “meet and greet” session with shareholders from outside the United States and Canada.
Citigroup Stock Proving Irresistible to Hedge Funds Led by Paulson, Soros (Bloomberg)
Everyone wants a piece of that Vikram.
Elders Of Wall Street Favor More Regulation (NYT)
The Olds: “While the younger generation, very visibly led by Lloyd C. Blankfein, lobbies Congress against such regulation, their spiritual elders support the reform proposed by Paul A. Volcker and, surprisingly, even more restrictions. “I am a believer that the system has gone badly awry and needs massive reform,” said John Bogle, the 80-year-old founder and for many years chief executive of the Vanguard Group, the huge mutual fund company.”
Goldman Sachs, Greece Didn’t Disclose Swap, Investors ‘Fooled’ (Bloomberg)
The swaps used by Greece to manage debt were “at the time legal,” Greek Finance Minister George Papaconstantinou said on Feb. 15. The government doesn’t use the swaps now, he said.
Case Is Said to Link HSBC to U.S. Tax Evasion Inquiry (NYT)
Just an FYI, if UBS isn’t treating you like it used to, vis-a-vis helping to evade taxes, hop on over to HSBC. They’ll do you up right.
Ex-Fed chair Volcker marries long-time assistant (Reuters)
The lucky lady is Anke Dening, PV’s assistant of 20 years.
Here Are Some Thoughts On Men And Wall Street
Jerk Running Ferry To Fire Island Not Up On The Celebs Of Financial Reform
“I do take entrepreneurial chances with my career.”
no one takes charlie gasparino as seriously as charlie gasparino.
@1 but some people do take him in the ass more.
“Prosecutor Hope Korenstein charged that Mandala lived large by never returning money loaned to him by the now-defunct Wall Street giant.”
…never realized bankruptcy was a crime.
Besides, it’s not like they’re going to jail all those people who haven’t repaid TARP money yet…am i right, am i right…ah, forget it.
Honeymooning at 82 is the new killin’ it.
Does anyone actually watch Faux Biz? Don’t they have like 34 viewers? I can’t believe its possible for a network to be more of a joke than CNBC but I guess it happened.
Goldman made a $1b after arranging $15billion in bond sales. Really? 6.67% fee?
“My job is to rip the lungs out of the competition for Fox Business network”
Other things he could have said:
“My job is to deny Dennis Kneale his moment with my collie”
“My job is to provide much better “service” than either Erin or Maria”
“My job is to show more leg and cleave than Amanda or Liz combined”
Screw it, what he meant to say was
“My job is to act like the same first class A$$clown that traffics in anonymous “sources” for a third rate comedy show that provides less insight and information than the Cartoon network that I used to work for”
When Gasparino signed his contract to join Fox News, do you think that Rupurt Murdoch was standing over him in a black cloak going “Yes, yes, let the anger flow through you and join us”?
@8=DUMB
9=GAY
bob, I’d like to buy a tag for $100 please…
9, 10 = Principal’s Office
10- captain of D&D team/gimp
@cluzo- opening bell has never had tags.
@14 – time for change I can believe in!
It is unreal how boring this site has gotten. Any monkey can cut and paste, or set up links and make stupid comments.
Bess – Get a real job in Finance and then you can ridicule people, but don’t sit behind a screen and write idiotic comments.
Lastly, do NOT edit, remove comments arbitrarily just because you do not like what they write…you do no live in Russia – and if this comment is edited or removed, just wait to see what is written as a result.
@7 Cartoon Network puts out some quality programming. Smart, funny, good production values.
Why did you post a photo of Horatio Sanz?
@ 16= Jayson Blair
CNBC is doomed. Doomed I tells ya.
@ 16 – charter member of Oprah’s Book Club, Farmington Hills, Michigan
16=back office pro
Bess, PLEASE remove @16’s comment so we can see what is written as a result.
Ok, so they say this ML “Banker” stole $ loaned to him from the firm. Since the NYDN failed, that I could tell, to provide any further details as to his employ, I’m guessing he was a broker who jumped ship there and got 2-3x previous year’s production as an advance and proceeded to blow it all.
Doesn’t sound like a banker, in the sense most DB readers would say, no?
@Anal. You are correct sir. A nifty FINRA Brokercheck indicates he jumped to ML in April of 2009 blew the cash and was terminated July 2009.
You know what “speculative activity” is? Loaning money to poor people. That’s as speculative as it gets.
@ 24 = major homo
@26. False.
Is that really a picture of Anal_yst? Come on, you can tell us.
Bankers are thugs and cheaters who display weird attention to their private parts.
~Roger C
Famous Professional Baseball Player
Oiled Nuts, TX
Bess is getting her ashes. She’ll be here momentarily.
@28/EPD OK why not and/or what’s more speculative?
-26
another bad server day at DB?
Anyone else think Gaspo on FBN is going to slightly resemble the Fonze on Happy Days?
@33
system/data migration is my guess, but you know best laid plans of mice (IT guys) and men, that whole thing
Did Chazzy G. eat the servers?
How can a guy “wear (his) heart on (his) sleeve” when all of his shirts are sleeveless?
-Ancient Chinese Proverb