Also, “Lloyd’s done a much better job than some of the publicity [would indicate].” Corzine’s one suggestion: “speak a little less.”
Archive for February 2010
Don’t get too excited, young chippies– the bank has merely been told it’s allowed to pay out 1.3 billion pounds ($2.01 billion) as decreed by its overlords (the U.K. Treasury and U.K. Financial Investments, and the Queen’s corgis).
In a recent interview, Pay Czar Kenneth Feinberg finally strayed from his usually scripted remarks, getting really worked up about a certain person, who he won’t name, but is among those who “really do believe they are entitled to $9 million, [which] is a problem.” But what really got to Kenny, is that this $9 million -unnamed- person had the (nuclear) balls to ask him what was up with all the bonus backlash and why people were so mad at him. “Why don’t you like me?” that anonymous “bigwig” asked him.
Feinberg also opened up about his relationship with Timmy G., to whom apparently one can’t say “no”(“You try”). Also, he’s not a fan of AIG people who are just greedy b&*@#$.
Citi in Talks to Sell Hedge-Fund Business (WSJ)
It’s got about $4 billion in assets– anyone interested? Otherwise SkyBridge Capital is just gonna take it.
Pangalos: Italy Masked Finances Worse Than Greece (Reuters)
Greek Deputy Prime Minister Theodoros Pangalos criticised Germany’s attitude towards the Greek crisis, saying Athens had never received compensation for the economic impact of the Nazi occupation during World War II. “They took away the Greek gold that was at the Bank of Greece, they took away the Greek money and they never gave it back. This is an issue that has to be faced sometime in the future,” he said.”I don’t say they have to give back the money necessarily but they have at least to say ‘thanks’,” he said. “And they shouldn’t complain so much about stealing and not being very specific about economic dealings.”
HSBC Said to Scrap Plans for CEO Pay Rise After Investors Balk (Bloomberg)
Sad trombones for Michael Geoghegan.
Daring to Think ‘Private Jet’ Again (NYT)
Breathe a huge sigh of relief: “Gingerly, some business travelers are venturing back into private aircraft after the battered economy — and a public outcry against that perk of fat cats, the corporate jet — walloped the general aviation industry starting in 2008.”
Round Two: Bernanke Faces More Grilling From Congress (CNBC)
Oh, and apparently this time they might get a little nasty with him, not with any real substance behind the digs, but just for show, which has never happened before in any of these hearings.
Steve Wynn to take Foxwoods helm (Philly)
Steve Wynn announced yesterday that he is stepping in as the managing general partner of the Foxwoods casino project planned for Columbus Boulevard at Reed Street.
$$$ Kanjorksi: Bankers Are Like Incontinent Dogs [DI]
$$$ Wall Street Career Change: “Why did cupcakes need to be magical? They’re not magical for me. Where’s the masculine aesthetic?” Arrick said. “We needed to butch it up, buttercup.” [FINS]
$$$ AIG didn’t see didn’t see bailout rage coming. [BW]
$$$ You should play in this poker tournament. We’ll be there (not participating, natch, though taking part in the drinks situation). [Caesars]
Donald Trump is dueling it up with activist investor Carl Icahn over Atlantic City’s Trump Entertainment Resorts. Specifically, the two are fighting for ownership of the property, which Trump does not currently own. Don’s argument is that the casinos “would be hurt if Icahn won because it would take the Trump name off them.”
Erin Callan took a leave of absence from her job at Credit Suisse over a year ago. Since then, we’d heard nary a peep from the old girl. In our minds we knew she’d likely extended her vacation to something more permanent, but in our hearts we hoped against hope to wake up one morning and see her going at it with David Einhorn on Squawk Box, or posing in front of black cars in the Wall Street Journal. Today Charlie “I’m gonna nut in Maria Bartiromo et al’s eyes” Gasparino has crushed that dream. The ace reporter, working the phones all morning, delivers this devastating blow sure to rock your world: “Callan has formally ‘retired’ from the securities business, according to people with knowledge of the matter.” The situation is not fluid.