May 2010

  • News

    Write-Offs: 05.28.10

    $$$ Fitch: Here’s Why We Stripped Spain of AAA Rating [WSJ] $$$ Steve Wynn Takes on Washington, Vegas & EBITDA [CNBC] $$$ Canada Home Foreclosure Wave Not Likely [Financial Post] $$$ Free Financial Advice To The Stars Re: Ponzi Schemes [TRB] $$$ Gary Coleman Dead At 42 [NYT]

    / May 28, 2010 at 1:12 PM
  • Communiqués, News

    Scottwood Capital Would Like To Take A Moment To Address The Unprecedented Ass-Bleeding

    They don’t typically do so but this has been an extraordinary month and one which begs a whole bunch of questions, including but not limited to, what happened, where are we now, were we drinking too much of our own Kool-Aid and, most importantly, what does rectal prolapse really feel like?

    / May 28, 2010 at 12:28 PM
  • News

    Greenhill Capital Partners Employee Ices Dustin Diamond

    I’ve received this no fewer than 15 times so here’s your photographic evidence and the summing up of the event: “He was at the bar and I finally had enough of him, so I iced him and left.” (There was also allegedly an icing at RBS yesterday, which I appreciate a whole lot, though no […]

    / May 28, 2010 at 12:02 PM
  • News

    A Word Of Advice To Those Considering Taking Up Insider Trading, Courtesy Of Pequot

    So you’re contemplating being on the giving or receiving end of some hot tips are you? Before you do so, may we make a suggestion? Obviously we’re not going to tell you to stop and think about the fact that it’s still currently frowned upon to trade on material non-public information. You’ve made your decision […]

    / May 28, 2010 at 11:00 AM
  • Opening Bell

    Opening Bell: 05.28.10

    On Doomed Oil Rig, “Nobody Was In Charge” (WSJ) The chain of command broke down at times during the crisis, according to many crew members. They report that there was disarray on the bridge and pandemonium in the lifeboat area, where some people jumped overboard and others called for boats to be launched only partially […]

    / May 28, 2010 at 9:20 AM
  • News

    Write-Offs: 05.27.10

    $$$ JP Morgan Official on Lehman Suit: ‘Total Waste of Time‘ [FBN] $$$ Warren Buffett to testify under FCIC subpoena after resisting commission’s request [Fortune] $$$ John Carney reports: Two Top BofA Executives Get Along Just Fine [CNBC] $$$ US Probes Goldman’s Timberwolf Deal, Alleged Victim Says ‘Whole Thing Was Fraudulent Concoction’ [HP] $$$ Obama: […]

    / May 27, 2010 at 6:01 PM
  • News

    Kenneth Starr’s $7.5 Million Ponzi Palace

    Kenneth Starr’s $7.5 Million Ponzi Palace

    / May 27, 2010 at 5:04 PM
  • News

    Former Scores Stripper Took Cash in Ponzi Scheme

    In the land of mini-Madoff’s, Kenneth Starr isn’t the biggest one out there. But, he did have a list of A-list clients that rivals only Bernie himself. Plus, his wife was a stripper at Scores, which is a lot more than you can say for Ruth Madoff.

    / May 27, 2010 at 4:54 PM
  • News

    Vikram Gets In On The Action

    From the mailbag: “2 analysts at Citi were iced. No pics but let’s give them a hand for stepping up to the plate.” Related: Goldman Sachs Not Only Wall Street Firm To Get In On Icing Phenom

    / May 27, 2010 at 4:20 PM
  • News

    Latest Instance Of BS At RBS

    Last week, RBS’s Stamford trading floor lost power for about ten minutes. Many wondered what was going on, and with no official word from the bank, imaginations ran wild. Had someone kicked over some crucial cords? Was RBS going out of business? As is our wont, we printed a rumor from the inside about what […]

    / May 27, 2010 at 2:40 PM
  • News

    Cramer: Get Yourself A Piece Of Citi ASAP

    Faster, Vikram wants a pony!

    / May 27, 2010 at 2:38 PM
  • News

    Sweet Gigs: This Guy Collects $400K a Year for Doing…Not Much

    So there’s this guy. A mild-mannered professor who retired a decade ago and decided he would serve as an independent director of this new booming financial product called a CDO. He collected a few thousand bucks a year for basically signing a some documents. Sounded like a decent gig and a good way to make some extra pocket change.

    / May 27, 2010 at 1:02 PM
  • News

    Art Samberg, Pequot Settle Insider Trading Charges for $28 Million

    Like we told you several weeks ago, Art Samberg and Pequot Capital Management today agreed to settle insider trading charges with Securities and Exchange Commission for $28 million.

    The SEC Division of Enforcement’s also brought a case against the alleged tipper, David Zilkha, a former Microsoft employee. That case will continue in an administrative proceeding before the Commission.

    / May 27, 2010 at 11:42 AM
  • News

    Is Ken Lewis’s Wife Involved In A Pyramid Scheme?

    That’s what some local Charlotte TV station is alleging, claiming that Donna Lewis has been working as a sales rep for FHTM, “a multi-level marketer recently fined as a pyramid scheme.” The wife of KL doesn’t deny working for the company but takes offense to the notion that anything illegal is going down. “It is […]

    / May 27, 2010 at 11:17 AM
  • News, Private Equity

    New Tax on Sales of PE Firms Discovered in Carried Interest Bill

    Private equity firms picking through the proposed tax hike on carried interest have discovered an alarming provision buried in the legislation that will raise taxes on sales of their firms.

    / May 27, 2010 at 10:40 AM
  • News

    David Einhorn’s Ira Sohn Conference Speech

    An abbreviated version of Einhorn’s speech ran as an Op-Ed in this morning’s Times. We’ve obtained the full text of yesterday’s chat.

    / May 27, 2010 at 9:40 AM
  • Opening Bell

    Opening Bell: 05.27.10

    Unusual Decisions Set Stage For BP Disaster (WSJ) BP made choices over the course of the project that rendered this well more vulnerable to the blowout, which unleashed a spew of crude oil that engineers are struggling to stanch. BP, for instance, cut short a procedure involving drilling fluid that is designed to detect gas […]

    / May 27, 2010 at 9:10 AM
  • News

    Write-Offs: 05.26.10

    $$$ Buffett to Testify to Crisis Panel on Moody’s [WSJ] $$$ Goldman Sachs Girds for Battle With the SEC Over Fraud Case [CNBC] $$$ Managers Prefer European Stocks Without Much Europe [Bloomberg] $$$ Ken Langone still not feeling good about Spitzer but can appreciate Ashley Dupree [NYO]

    / May 26, 2010 at 7:01 PM
  • News

    Highfields’ Jacobson Worried About the “Clowns” in Washington

    Jonathon Jacobson, founder of Highfields Capital, doesn’t mince words when talking about Washington politicians. In fact, Jacobson pretty much sums up what most of us think about the people in the nation’s capital. Here he is from the Ira Sohn Conference today.

    / May 26, 2010 at 5:35 PM
  • News

    Blanche Lincoln’s Derivatives Provision All But Dead Now

    Blanche Lincoln’s famed derivatives legislation, which would basically prevent any big bank from ever trading CDS again, has already been chastised by Barney Frank. Now, a senior Treasury official has essentially delivered another blow to the Lincoln legislation.

    / May 26, 2010 at 4:50 PM
  • News

    Some Days, The Lucky Brass Balls Don’t Even Work

    Also, Balls has a $27 price target on on BAC. Related: David Tepper’s Lucky Charm(s)

    / May 26, 2010 at 4:48 PM
  • News

    Goldman Sachs Not Only Wall Street Firm To Get In On Icing Phenom

    Last week we mentioned that Goldman Sachs, in spite of the assumption it was immune from taking part in peasant-like drinking games, had played host to at least one confirmed icing on its premises at 200 West Street. For the uninformed, “Icing” is the new game the kids are playing these days, wherein you surprise […]

    / May 26, 2010 at 3:15 PM
  • News

    Joe Perella Wants You to Stop Whining About Higher Taxes

    “I hope people wake up — America has to suck it up.” Mr. Perella said at a panel discussion on Wednesday hosted by Thomson Reuters. “The country is 40 percent overweight, Bloomberg tries to close down schools that turn out only 25 percent of the ‘products’ that work and he can’t, the budget is completely […]

    / May 26, 2010 at 3:00 PM
  • News

    Eddie Lampert Takes 15 Percent Beating This Month

    Last week, we told you about certain Tiger Cubs that were having a rough go of it this month. Today, we get some updated numbers thanks to Hedge Fund Alert. Eddie Lampert is taking a beating, off 15 percent this month.

    / May 26, 2010 at 2:39 PM
  • News

    Trader Takes Road Less Traveled When Breaking Into Mistress’s Apartment

    You’re a married trader carrying on an affair with a receptionist who’s only seeing you because you’ve promised to leave your wife. She wants a committed relationship so she breaks it off with you and starts seeing a new man, one who’s not married. You’re the jealous type and not happy at all about this. […]

    / May 26, 2010 at 1:15 PM
  • News

    CEO’s No One Gives A Rat’s Ass About Bravely Gave The Finger To 2009’s Compensation Trend

    Wells Fargo’s John Stumpf. Travelers Cos’s Jay Fishman. Chubb Corp’s John Finnegan. According to the July issue of Bloomberg Markets, all three men “are defying a trend,” by taking home $21.3 million, $20.6 million, and $19.2 million, while many of their fellow CEO’s dialed it down on payday. Why were they able to take such […]

    / May 26, 2010 at 1:08 PM
  • News

    Disney Duo Arrested in Insider Trading Scheme

    A former Walt Disney employee and her boyfriend have been arrested for allegedly trying to sell tips about the media giant to a bunch of hedge funds for $15,000 each.

    / May 26, 2010 at 12:54 PM
  • News

    Do Hedge Funds Have Chuck Schumer in Their Back Pockets?

    That’s basically the contention of Washington Examiner columnist Timothy Carney, who pins his thesis on a former Schumer staffer who went on to lobby for the hedge fund and private equity industries.

    / May 26, 2010 at 11:30 AM

Our Sites

  • Above the Law
  • How Appealing
  • ATL Redline
  • Breaking Defense
  • Breaking Energy
  • Breaking Gov
  • Dealbreaker
  • Fashonista
  •