Geithner warns of rift on EU regulation (FT)
A letter sent by Mr Geithner this month to Michel Barnier, Europe’s internal market commissioner, makes clear that the European Union is heading for a clash with Washington if it pushes ahead with what the US – and Britain – fear could be a protectionist law to regulate the hedge fund and private equity industries.
Ex-Cazenove Partner Found Guilty Of Insider Trading (WSJ)
Malcolm Calvert, a former partner at U.K. stockbroker Cazenove known by his peers as “Streaky,” was found guilty of five counts of insider trading in a case at London’s Southwark Crown Court on Wednesday.
HSBC Says Swiss Data Theft Affects 24,000 Accounts (ABC)
The bank was just kidding when it said previously that “less than 10 clients” were affected after Herve Falciani — a former HSBC computer specialist — stole client data from the bank which he handed over to French tax authorities.
Goldman Deal-Maker Now Advocates Regulation (NYT)
Gary Gensler’s conversion would seem to put him at odds with his mentors, like Robert E. Rubin, the former Treasury secretary, and with his former colleagues on Wall Street. “Wall Street’s interest is not always the same as the public’s interest,” he says now. “Wall Street thrives and makes money in inefficient markets, and I am creating efficiencies in the market.”
GMAC Bailout Could Cost Taxpayers $6.3 Billion (AP)
“Treasury missed many opportunities to improve accountability and protect taxpayer money,” panel chair Elizabeth Warren said in a conference call with reporters. She said Treasury didn’t make GMAC show how it would return the taxpayer money, or how the investment would increase credit to consumers. “These decisions mean that Treasury is now struggling to deal with a GMAC that is not financially rehabilitated, Treasury has no exit strategy and taxpayers are not fully protected,” Warren said.
Regulators Honing Size Of BofA (FBN)
According to Charlie Gasparino: “Executives at Bank of America are coming under increasing pressure to downsize the firm as federal regulators seek to prevent large, cumbersome financial institutions from once again tanking the financial system as they did in the fall of 2008.”
GM CEO Says U.S. Will Make Money on Bailout (Reuters)
Also: “It’s been tougher than I thought,” Ed Whitacre said about the CEO post. “As you might guess, after going through a big bankruptcy and a big disruption, people have to be motivated and see something ahead,” he said. “GM had a lot of baggage and that has to be changed and it is being changed.”
Rattner In Talks To Settle A Probe (WSJ)
Steven Rattner is in settlement talks to resolve his role in the “pay to play” investigation at the New York state pension fund, according to people familiar with the matter.
Whiteacre: “I think the government is going to make a lot of money … It will prove to have been a great investment.” Comments like that are grounds to be declared legally incompetent.
I think it is time to remove “Bear Stearns” from the list of hot topics above…
Tc- pics?
ok cluzo, what color panties ru wearing? hopefully dark so anal bleeding blends
Hey guys 8->
Greg and I did it!!!!!!!!The site opened on the first try!!
We will celebrate now!!!!http://www.theyoungturks.com/images/IndianPenis.jpg
That Elizabeth Warren, she’s a feisty one.
Anal_yst, any thoughts?
Re: yesterday’s Shia comment thread, if id’s can be taken does that mean Busty Lovin and Equity’s Privates are available handles?
PS: please o please Safari browser don’t triple post.
Someone send Lizzy Warren the links detailing the GMAC eating contest. Shed be thrilled.
@2 – Or at least change it to ‘JPM-BS’…and then, given sufficient time, we can change it to JPM and the fond memories of better (hazier) days will fade to black.
Tax Chick, will you be my Greek valentine?
-Muscle Milker
2nd AB @1, @9 good question (but probably not, although the issue would appear to require some more attention), @10 didn’t she participate in it?
On a semi-serious note, that’s probably the most reasonable thing Warren has said since she got into her current role. Perhaps there is hope for her, yet…
AT&T should get Gensler to be their 3G spokesman.
Isn’t “streaky” Greg’s nickname, or was that “skid mark”… easy to confuse.
Anal_yst. I know, right? Seriously.
@12 – Is this what you have in mind? http://www.thepinkpalace.com/
@15, TC – I thought it was Greg Focker aka Gay Focker.
ok, will the real tax chicky please stand up? this new format is quite confusing – I can’t tell who is who anymore!
Please remove Facedork and twit links. It makes the site load take about 30 seconds
@ 19 – like the Carnevale di Venezia!
@Cluzo – Never fear, I’m here.
@ 5- You bored or something?