April 2010

  • News

    Caption Contest Friday

    [Photo credit: Reuters]

    / Apr 23, 2010 at 12:02 PM
  • News

    Al Sharpton Impressed By Lloyd Blankfein’s Humble Upbringing

    It’s a pretty well-known fact that Lloyd Blankfein, unlike some of his other colleagues on the Wall Street, was not born a little rich boy. Because before he knew Street life, LB knew street life, lower-case ‘s,’ having grown up in the projects in Brooklyn. Apparently Al Sharpton was not aware of Lloyd’s bio, which […]

    / Apr 23, 2010 at 11:45 AM
  • SEC

    Buffett Couldn’t Care Less About SEC’s Goldman Charges


    / Apr 23, 2010 at 11:36 AM
  • News

    SEC Official Who Surfed Tranny Porn To Deal With Stress Of The Job– Not Alone!

    A couple months ago, we discussed an SEC worker who got in a bit of trouble with his employer for checking out a little porn while on the job. The unnamed supervisor made at least 1,800 logged attempts to check out some sites that included www.ladyboyx.com, www.ladyboyjuice.com, www.trannytit.com, and www.anal-sins.com, which, he admitted, “were kind […]

    / Apr 23, 2010 at 10:30 AM
  • News

    Lampert and Ackman Part Ways in Cheap Department Store

    Bill Ackman has finally persuaded his fellow hedgie Eddie Lampert to buy him out of Sears Canada for nearly double what he last offered. Bill has been calling Eddie a cheap SOB for over four years. In 2006, Ackman successfully blocked Lampert’s attempt to buy his stake in Sears Canada on the cheap. At the […]

    / Apr 23, 2010 at 10:05 AM
  • Opening Bell

    Opening Bell: 04.23.10

    Galleon Probe Turns To Goldman Buffett Deal (WSJ) Rajat Gupta, the Goldman director who will not be seeking reelection told Raj Rajaratnam about Warren Buffett’s $5 billion investment before a public announcement was made. Was that wrong? Should he not have done that? Greece Seeks Aid (Reuters) Prime Minister George Papandreou requested the 45 billion […]

    / Apr 23, 2010 at 9:20 AM
  • News

    Write-Offs: 04.22.10

    $$$ Goldman’s Dirty Customers [TDB] $$$ Dear Mr. President: Think Like A Trader [WSJ] $$$ Orszag Weighing Obama’s Appeal to Stay On as Budget Director [Bloomberg] $$$ Years ago, the investment world and its professionals believed in long-term relationships. That meant nurturing the economy and the companies and people in it. Two decades of cheap […]

    / Apr 22, 2010 at 6:39 PM
  • News

    Fabrice Tourre Tried To Exploit The Housing Crisis…

    …by convincing his landlord in London to lower the rent on the apartment his shared with his girlfriend in Myddelton Square, Clerkenwell. “He tried to get the rent down,” his landlord, Julian Jones, said. He renegotiated because there was a housing crisis. He said: ‘I think you should bring the rent down in line with […]

    / Apr 22, 2010 at 6:04 PM
  • News

    Lloyd Blankfein Had A Little Chat With The Guy Who Signs Matt Taibbi’s Paychecks

    When Lloyd Blankfein agreed to attend Obama’s speech this morning, only because he absolutely had to and not because he just has buckets of free time to mosey up to Astor Place, he knew there’d be some people there he didn’t want to see. Bob Diamond. Shmuck reporters. Obama’s favorite banker who can do no […]

    / Apr 22, 2010 at 4:58 PM
  • News

    A British Reporter Gets Nada from Lloyd

    Here’s The Guardian’s Andrew Clark on a peculiar encounter with Lloyd Blankfein at Obama’s speech today. Gary Cohn was more forthcoming. From The Guardian: “Mr Blankfein, I’m Andrew Clark from The Guardian,” I said. “What did you think of the speech?” Without a flicker of acknowledgement, Blankfein, 55, stared ahead and continued walking.

    / Apr 22, 2010 at 3:00 PM
  • News

    Chanos: Obama Speech was “Measured”

    / Apr 22, 2010 at 2:45 PM
  • News

    Why Isn’t John Mack at the Obama Speech?

    Here’s a list of notable attendees, released by the White House via The Washington Post, among the 700 who were invited to President Obama’s speech this afternoon. Curiously absent was John Mack who, in a moment of candor, famously said “We cannot control ourselves. You have to step in and control the Street.” To be […]

    / Apr 22, 2010 at 1:44 PM
  • News

    Obama’s Wall Street “Roast”

    Thoughts? Opening reaction– disappointed in the lack of Blankfein shout-outs (especially since Gary Cohn canceled a lunch to make this thing) and not enough jokes.

    / Apr 22, 2010 at 12:15 PM
  • News

    One Of The Foreclosed Owners John Paulson Made A Billion Off Of Gives The Hedge Fund Manager Props

    In a fun little exercise today, the Wall Street Journal got in touch with a few of the people who John Paulson correctly bet couldn’t pay their mortgages, which resulted in him making $1 billion, and them having their homes foreclosed on. If you assumed that some of them wouldn’t be in the mood to […]

    / Apr 22, 2010 at 11:38 AM
  • News

    Metro-North Officials Contemplating Ruining The Lives Of Connecticut-Dwelling Financial Services Hacks

    Listen up. Something serious is going on. I’m not talking about Goldman v. the SEC. I’m talking about the one thing that makes the lives of those of you slogging back to Connecticut each day after what was probably a miserable twelve hours on the job worth living– I’m talking about the right to get […]

    / Apr 22, 2010 at 10:45 AM
  • News

    Mary Schapiro is Pissed About Suggestions the Goldman Charges Were Politically Motivated

    “The SEC is an independent law enforcement agency. We do not coordinate our enforcement actions with the White House, Congress or political committees. We do not time our cases around political events or the legislative calendar. “The fact is that regulatory reform has been pending for over a year. We have brought many cases related […]

    / Apr 22, 2010 at 10:00 AM
  • Opening Bell

    Opening Bell: 04.22.10

    Obama To Castigate Wall Street (WSJ) “A free market was never meant to be a free license to take whatever you can get, however you can get it,” Mr. Obama will say, according to speech excerpts released Wednesday night. “That is what happened too often in the years leading up to the crisis. Some on […]

    / Apr 22, 2010 at 9:34 AM
  • News

    Write-Offs: 04.21.10

    $$$ Obama ‘Categorically‘ Denies Influence in SEC’s Goldman Case [CNBC] $$$ Government Goes High-Tech To Redesign $100 Bills [AP] $$$ Family Swindled By Madoff Fights $61 Million IRS Bill [Forbes] $$$ Paulson: On The Hook? [Absolute Return]

    / Apr 21, 2010 at 6:46 PM
  • News

    London Trader Facing Manslaughter Charges For Killing A Guy With One Punch

    A year or so ago, petroleum trader Jeremy Aylmer punched IT executive Charles Cox outside London nightclub Floridita. Now he might go to jail because Cox was knocked unconscious, never came to, and died 20 months later. According to the Aylmer’s lawyer, he never meant to kill the guy! Or even hurt him too much! […]

    / Apr 21, 2010 at 5:55 PM
  • News

    Accused Soc Gen High Frequency Thief Was Headed To Tower Research

    Editor’s Note: The following is a guest post by John Carney. The former Societe Generale trader arrested yesterday on charges of stealing Soc Gen’s computer code for high-frequency trading was set to begin work this week at Tower Research Capital, a New York based quantitative hedge fund, according to a source. Samarth Agrawal was charged […]

    / Apr 21, 2010 at 3:52 PM
  • News

    Fuld: We Needed a Liquidity Bailout

    More from Dick Fuld’s bizarre testimony yesterday in front of the House Financial Services Committee.

    / Apr 21, 2010 at 3:22 PM
  • News

    Before Getting Shut Down By The SEC, Gryphon Financial Took Time To Incorporate Goldman Case Into Sales Pitch

    Yesterday we discussed Gryphon Financial, and its status as the latest firm to be shut down in the SEC’s quest to ruin a good time. To recap, Grphyon is scam of a financial firm which swindled less than $20 million from investors and, in the process, told the best lies ever, which included: the fact […]

    / Apr 21, 2010 at 2:54 PM
  • News

    Senator Dodd Characterizes Suggestions That Timing Of Goldman Case and The Financial Reform Bill Are Anything But A Coincidence As “Ridiculous”

    And frankly, it’s insulting. Not unlike the fact that the Cliff Asness donated $71,600 to Republicans this year and $409 to the Senator from Connecticut.

    / Apr 21, 2010 at 2:39 PM
  • News

    Pitt Thinks SEC is Betting the House With Goldman

    Former SEC chairman Harvey Pitt, who now runs a consulting business, thinks the SEC is “betting the house” by going after Goldman Sachs. In a column for The Daily Beast, Pitt says the SEC erred in not notifying Goldman or having settlement discussions with them before making the suit public. He also points tout that […]

    / Apr 21, 2010 at 1:25 PM
  • News

    Jamie Dimon Not The Only CEO Whose Commencement Address Is Being Protested

    Let it be known: you do not have to be a strapping, beautiful, devastatingly charming bank executive and no friend of the city of Atlanta to have university students get their panties in a bunch over your speaking engagements at their school. Members of Columbia’s School of International and Public Affairs are “up in arms” […]

    / Apr 21, 2010 at 1:10 PM
  • News

    Bonus Watch ’10: JPMorgan

    An unhappy junior rainmaker writes: Analyst bonuses just got delayed until mid-August supposedly so that the firm can ensure we’re being paid on par with the rest of the Street and not getting underpaid. Nice try, but you’re going to have to wake up a lot earlier if you want to fool this UJR. He’s […]

    / Apr 21, 2010 at 1:00 PM
  • News

    Florida Grocery Arbitrageur Busted in $900M Ponzi Scheme

    Only in South Florida can a guy dupe investors out of $900 million by promising guaranteed annual returns of 10-26 percent from profits on arbitraging groceries. Reminds you of the Seinfeld episode when Kramer and Newman decided to collect empty bottles in New York and drive them to Michigan to get the extra deposit money. […]

    / Apr 21, 2010 at 12:23 PM
  • News

    Mark Your Calendars: Fabrice Tourre To Make His Television Debut April 27

    Bloomberg reports that the Fabulous Fab has agreed to testify at a Senate hearing on the Hill next week. He’ll do so alongside Lloyd Blankfein, which *could* be awkward! What else will happen? Who the hell knows but here’s a few items for the wish list: * He refers to himself in the third person, […]

    / Apr 21, 2010 at 11:44 AM

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