February 2010

  • News

    Marc Spilker To Leave Goldman Sachs, Start Hedge Fund With Seed Money From Jim Chanos

    I’m kidding, but seriously: the departing head of Goldman Sachs Asset Management (whose gig is being taken over by Edward C. Forst) is going to have a lot of time on his hands for stuff like unorthodox landscape architecture and now that he’s retired, will really want to “maximize [his] beach enjoyment.” Uncle Jim might […]

    / Feb 12, 2010 at 2:40 PM
  • Banks, News

    Remember To Recycle (The Old Banks)

    What is one supposed to do with all the failed banks? Buy them and create a new, prettier one! Former BofA and Wachovia execs are doing just this and are seeking $1 billion to fund their mega-bank, the Blue Ridge Bank N.A., to be based in Charlotte. And they’re hiring!

    / Feb 12, 2010 at 2:25 PM
  • News

    Citi, Community Organizer, Love Giver, Neighborhood Rescuer, Therapist

    Ok people, time to stop bitching about Citi and its desire to conquer (destroy) the world with its uber-derivatives. Those people have souls. They just launched a pilot initiative that will allow people to remain in their foreclosed homes for six months in six states and they would like the Blankfeins and Dimons of the […]

    / Feb 12, 2010 at 1:55 PM
  • News

    John Thomas Financial CEO, Defender Of Equal Rights For Wall Street, Most Likely Has Another Issue He’d Like To Address

    A few weeks ago, John Thomas Financial CEO Thomas Belesis demanded respect for a group of people, the denizens of Wall Street, who, while labeled “different” from the rest of society because of their alternative professions, are still human beings who deserve to be treated fairly. Belesi did so by organizing a rally on his […]

    / Feb 12, 2010 at 1:45 PM
  • Communiqués, News

    Lee Ainslie’s Advice For Weathering The Ups And Downs Of The Markets And Life

    Before losing your cool, take a TO to ask yourself the following: “3-2-1, 1-2-3, what the heck is bothering me?“. Also, don’t overeat (like someone who recently made partner at the firm), ’cause no one likes a fattie.

    / Feb 12, 2010 at 12:55 PM
  • News

    Houston Investment Bank Skeptical Of Cash Money Records Founders’ Foray Into Energy Business

    As noted earlier this week, Cash Money Records founders (and brothers) Bryan “Birdman” Williams and Ronald “Slim” Williams are trying their hands at the energy business, with the launch of Bronald Oil & Gas LLC (Bronald = Br(yan) + (R)onald). This has prompted some haters to wonder aloud whether or not this is some sort […]

    / Feb 12, 2010 at 12:44 PM
  • News

    Greek Prime Minister Not Impressed

    The Greek Prime Minister George Papandreou is not too pleased with the EU’s pledge of some sort of help yesterday, which lacks any concrete measures. Papandreou’s response came down to, “thanks guys, but too little, too late.”

    / Feb 12, 2010 at 12:17 PM
  • News

    What Is This 30 Rock Parody Of CNBC Missing?

    [clip via Business Insider] Can anyone put their finger on it? Caruso and Cabrera, ideas?

    / Feb 12, 2010 at 11:26 AM
  • News

    Some Barclays Employees Will Have Their Bonuses Cut This Year And Some Won’t

    In the former category: almost everyone. No specific numbers yet, but Barclays is expected to announce next week that only about 38% of revenue generated will go towards payouts (one of the lowest levels in the firm’s history). In the latter category: Bob Diamond. The Barclays Capital chief’s take home will be clocking in at […]

    / Feb 12, 2010 at 10:39 AM
  • News

    Bill Nighy’s Robin Hood Tax Video May Have Gotten Goldman Employees To Commit Voter Fraud

    Here’s the Bill Nighy video advertising the Robin Hood Tax, which is calling for a 0.05% tax on banking transactions. The tax could potentially raise at least $100 billion pounds to fight against child poverty and tackle poverty and climate change around the world, according to the campaign. At least one or two enterprising hackers […]

    / Feb 12, 2010 at 10:05 AM
  • News

    Bonus Watch ’10: Deutsche Bank

    From an unhappy German: Not a single investment banker I spoke with from any industry or product groups was happy with their number. A bonus of more than 140 resulted in 30-35% deferred compensation. Third year associates getting promoted were told they had to pay for their promotion and were “taxed.” The ranges for IB […]

    / Feb 12, 2010 at 9:45 AM
  • News

    Opening Bell: 02.12.10

    Buffett Covers Dinner Tab for Fund Manager Who Shared Research (Bloomberg) Want to have dinner with the Oracle of Omaha? Just shoot him a quick note: ” Cara Goldenberg, 29-year-old New Yorker who’s worked at Morgan Stanley, Highbridge, Brahman Capital, Carlyle Blue-Wave Partners, and co-founded Periam Investment Partners, sent her stock research to the 79-year-old […]

    / Feb 12, 2010 at 8:30 AM
  • News

    Write-Offs: 02.11.10

    $$$ Ex-Goldman Programmer Indicted Over Software Theft [BW] $$$ Ken Lewis’s drinking buddy retires. [Charlotte Observer] $$$ Lenny Dykstra might’ve scammed his son out of a little money. Which means he might be even more desperate than we thought, and is all the more reason for you to sign up for Nails Investments today. [ESPN] […]

    / Feb 11, 2010 at 5:20 PM
  • News

    Hank Paulson Not That Worried About People Claiming Innaccuracies In His Book

    GE CEO Jeffrey Immelt said today that while he did indeed have a discussion with Hank Paulson in September 2008, it had nothing to do with his irm’s commercial paper woes, as the former Treasury Secretary claims in his new book. Rather than get defensive about the whole thing, Hank, through his publicist, said that […]

    / Feb 11, 2010 at 2:17 PM
  • News

    Och-Ziff OZ Fund Returned 23.1% In ’09

    Och-Ziff, with $24 billion in aum, raked in $500 million during the past month and a half, with half being in capital inflows and half in performance-related appreciation. “The capital inflow cycle for the hedge fund industry has begun and our assets under management will grow over time.” Here are some highlights from Och’s SEC […]

    / Feb 11, 2010 at 1:47 PM
  • News

    Citi Pays Just As Well As Any Other Bank On The Street, Claims CFO

    Last week, Goldman Sachs management told an analyst that despite a lower than normal compensation ratio of 36% for 2009, they weren’t sweating people leaving the mothership because relative to everyone other bank on the Street, they’re still making it rain ka-ching! on people’s faces. Slightly arrogant, sure, but not necessarily untrue. Can this same […]

    / Feb 11, 2010 at 1:00 PM
  • News

    Elizabeth Warren: Will Anyone Be Doing Anything About The Impending CRE Sh*t Storm?

    Elizabeth Warren, head of the Congressional Oversight Panel for TARP, said in her monthly report that it would be nice if the government would wake up and do something about the commercial real estate losses yet to come, ’cause until they do, “the crisis will not end.” The “CRE is the next shit to hit […]

    / Feb 11, 2010 at 12:00 PM
  • News

    Are Chicks The Only Reason Anyone Cares About Bonuses?

    Would you gladly accept all-stock bonuses if you didn’t have to worry about RBS debt not impressing your girl (would-be wife or favorite Flashdancer)? This guy says yes. He also posits that in this world sans ladies (or sans the ladies who care about the size of your package), you people probably wouldn’t have gone […]

    / Feb 11, 2010 at 11:45 AM
  • News

    Opening Bell: 02.11.10

    Bloomberg Xs & O (NYP) Apparently Obama doesn’t love Dimon and Blankfein’s packages as much as Bloomberg would’ve had us believe. The White House claims the newswire took the Presidents statements out of context yesterday, and released a transcript of the interview, wherein he’d added, after saying all those nice things: “I do think that […]

    / Feb 11, 2010 at 9:00 AM
  • News

    Write-Offs: 02.10.10

    $$$ “We like to think of ourselves as a global exchange, not just a New York exchange,” said Ms. Mogavero. “There is no snowstorm in India right now, so we have to be open for those customers.” Everyone else can go home. Or not go home.[WSJ] $$$ AIG Plans Revamp [AIG] $$$ Bronx Man Looking […]

    / Feb 10, 2010 at 5:30 PM
  • News

    Las Vegas Ritz Shutting Down Due To Banker Bashing

    There’s been much talk about some bankers booking all of Wall Street surrounding area’s hotel rooms today, but if you want to be really charitable, just move your drunken asses from Stone Street’s bar stools and head to Vegas. The Ritz-Carlton, owned by a DB arm, is closing down, due to the “AIG-effect.” Maybe if […]

    / Feb 10, 2010 at 4:28 PM
  • News

    Just Putting It Out There: There Are Goldman Sachs Employees Sleeping At The Hotel Located Near Goldman Sachs Tonight

    So if you’ve been dying to sleep with a Master or Mistress of the Universe, and feel like you need a high concentration of them in one place in order to up your odds of scoring, knock on a bunch of doors at the Embassy Suites on Wall Street tonight. Eventually someone’s bound to let […]

    / Feb 10, 2010 at 3:52 PM
  • News

    Senator Larry?

    If it feels like the world is ending today it’s not because of a light dusting but rather that one DC resident is saying he has no problem whatsoever with Dimon and Blankfein’s bonuses, there was an earthquake in Chicago this morning and someone thinks Larry Kudlow could get elected to the Senate.

    / Feb 10, 2010 at 3:01 PM
  • News

    29 Year-Old Banker Attempts To Make Sense Of It All With Only One Hand Showing

    When one is struggling through something, trying to figure out how he got to where he stands, and the point of this called life, the best thing to do is sit down at some adorable little cafe in the West Village, not a Starbucks but one of those places that draws designs in the foam […]

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

    Bove: Continued Banker Bashing Will Force Executives Into Playing For The NBA

    Good day for the Goldmanites and Dimonites of the world. Following Obama’s acknowledgement that the whole banker-hatin’ was just a joke, Dick Bove has issued a report noting that the thing Obama said about bankers and ball players and pay? He’s said it for years. I have constantly pointed out that one can make more […]

    / Feb 10, 2010 at 1:43 PM
  • News

    Bonus Watch ’10: Goldman Sachs

    Goldman CFO David Viniar said today that he has no “magic formula” for pay this year, and that it would depend on a number of factors, including the firm’s performance, competition and mostly “the world around us.”

    / Feb 10, 2010 at 12:52 PM
  • News

    Traders Who Commute Psyched For Opportunity To Spend The Night In The City, Momentary Respite From The Old Ball And Chain

    Bloomberg reports that not everyone is freaking out over the prospect of a little more snow and are in fact keeping fingers crossed they’ll be forced to tell the wife/husband they’re stranded for the night. ‘Cause that’s when the real party* gets started. Weather advisories calling for as much as 20 inches of snow prompted […]

    / Feb 10, 2010 at 12:41 PM
  • News

    Happy Birthday, Lenny Dykstra *And* Jim Cramer

    That’s right ladies– the former friends share a date of birth, albeit different years. Cramer is turning 55 and Dykstra 47. I’m not sure what JC has to celebrate this year so let’s focus on Nails who’s turned it around just in time for the big day.

    / Feb 10, 2010 at 11:54 AM

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