As has been previously mentioned, while there is much to get excited about at the new Goldman Sachs building (a panorama that includes New York Harbor, the Sky Lobby cafeteria offers “a deep panini lineup and deadly cupcakes,” safe rooms on every floor), there is something that many GS employees are not enthused about at all. And that’s seeing each others’ asses, etc, in the company steam room. Today we have yet another complaint from the inside, again related to an aversion to being grossed out by each others’ bodies. An anonymous Mistress of the Universe writes: Continue reading »
Archive for May 2010
To everyone shrieking “Goldman Sachs broke the law,” “Goldman Sachs is evil,” “Goldman Sachs is this,” “Goldman Sachs is that,” to the SEC, to the peasants, to the window, to the wall, one voice of reason– the only one that counts– is here to say “Stuff it. These guys are cool.” His (nick)name is Bubba and in a wide-ranging interview with Maria Bartiromo that will air on CNBC this afternoon, he told her we should all consider getting off GS’s nuts (vis-à-vis BS lawsuits). Continue reading »
We thought Waddell & Reed was swallowed up ages ago by some big bank. But apparently the money management firm is still around. . .and helped to trigger the massive slide in the market last week.
According to an internal CME document obtained by Reuters, Waddell sold 75,000 S&P e-mini futures contracts in a 20 minute span on May 6 during the market crash and subsequent rebound. Continue reading »
Following his pit-stop for wings in Buffalo yesterday, Obama spoke at a campaign fundraiser at The St. Regis hotel, which you might’ve assumed would be attended by top Wall Street brass. Jamie, since they’re buds. Lloyd, because he has to. Vikram, because his plans always fall through. But you would’ve assumed wrong! The bank CEO’s decided they were all good and opted not to pay the $50,000 entrance fee to hear the prez talk about buzz-kill topics like “reform” and “responsibility” (he also said “there are a lot of good people who work in the financial industry who do things the right way,” so they missed out on that free ego boost). Continue reading »
Goldman Leads Race To Save Chicago Bank (WSJ)
Bill Brandt, chairman of the Illinois Finance Authority, a state economic development entity, says Goldman agreed to join the consortium within the past few days. “I’m told that Mr. Blankfein … has used his good offices to try and further this deal. … I’m told this was just within the last few days,” Mr. Brandt said. “I know that Mr. Blankfein and his marvelous organization have been much in the news of late, and I can sympathize with their desire to change the narrative.”
The Charmed Life Of Hedge Funds (BW)
“Unlike almost all the other actors on the stage of financial regulation in Washington, we were the pure capitalists,” says James Chanos, president of Kynikos Associates, a short-selling hedge fund in New York. “If we made bad decisions, we lost money and suffered the consequences.”
Ackermann Has Doubts About Greece (WSJ)
Joe said on a German television talk show late Thursday that he was unsure that Greece could overcome severe budget deficits and be able to repay all its debt. “I consider it doubtful whether Greece over time will really be in a position to achieve this,” Mr. Ackermann said on Germany’s ZDF television.
Volcker Sees Euro ‘Disintegration’ Risk From Greece (Bloomberg)
“You have the great problem of a potential disintegration of the euro,” Volcker, 82, said in a speech in London yesterday. “The essential element of discipline in economic policy and in fiscal policy that was hoped for” has “so far not been rewarded in some countries.”
’85 Plot To Sic Thugs On Keith (NYP)
Bernie Carbo said he tried to hire goons to find Hernandez and “break his arms” after the former All-Star first baseman outed Carbo in federal court as the man who introduced him to cocaine. “I knew some people, and I had $2,000, and I asked them to break his arms,” Carbo told ESPN’s “Outside the Lines,” in an interview airing Sunday. Continue reading »
$$$ Millennium seeks aid from regulatory insiders [Reuters]
$$$ Jon Corzine Is Working at MF Global. Say What? [BW]
$$$ CEO’s: The Most Beautiful People In The World? [Deal Journal]
$$$ Circuit Breaker Rules To Be Unveiled Next Week [CNBC]
$$$ Here’s What Critics Of Goldman’s ABACUS Deal Don’t Understand [BI]
Also, while you’re giving them props, feel free to inform Goldman Sachs and RBS that shouldn’t hesitate to S a D.
Because his 1987 hit attacked the personal ethics of financiers — and the director is pals with Hugo Chavez — it’s not surprising that several banks didn’t want Stone to shoot scenes inside their New York offices. The director notes that the “conservative banks would not deal with us. Goldman sealed their floors to us.” But an unlikely knight saved the day: “Our biggest break came when the Royal Bank of Canada called back, and they were extremely gracious, they said, ‘By all means, we’d love you to shoot here.’ The Royal Bank of Canada was one of the few banks that behaved impeccably in this period and made a profit and continued on. And everyone applauded Canada’s behavior because they had different rules. Europe was going down, the whole world was affected. But here was the Royal Bank of Canada — unlike the Royal Bank of Scotland, which was a disaster — the Royal Bank of Canada was impeccable!
You want him to just flush the financial reform bill down the toilet? Shut it about bonuses, unless he’s telling Main Street how deserved they are? Take note: plying him with Duff’s wings and compliments on his ass will get you far. Continue reading »
Tonight, Jim Chanos is being named the Hellenic American Bankers Association 2010 Executive of the Year. Baby steps!
I’d like a show of hands– who among us is looking to throw her/her office the best holiday party ever? I know what you’re thinking– we’re quite a long ways away from the holiday party season. Which is a good thing, because what I’m about to tell you needs to be dealt with months in advance. In fact, I’m slightly worried that it’s too late but if you get on the horn now it might be salvageable. To those of you who answered my question in the affirmative, nod along with me as we all agree that while food is important, as are celebrity waiters on the catering staff, music is essential to a successful soiree. You can’t just have any old shit DJ or band. You need the finest talent money can buy, and for those of you on your ways to an extremely profitable year, I’m advising you now– stop what you’re doing and book this guy today. Continue reading »
Oliver Stone: People Are Shelling Out $10,000 A Ticket To See Shia LaBeouf’s Gucci Loafers
By Bess Levin
At least that’s what he claimed to Vulture on the eve of Money Never Sleeps premiering at Cannes.
What are you doing to relax before your movie premieres tomorrow?
[Laughs.] I’m trying to get tickets for people. “Friends.” It’s insane here. You know what a ticket’s going for here on this film, on the black market? 8,000 Euros! That’s about $10,000, I think … which is approximate, but still, amazing for a movie ticket.It’d be kind of ironic if this film in particular sparked a dangerously volatile futures market.
It’s a scalping thing. I heard we were the highest ticket at the festival. I had 25 “friends” call on the last day [before the film screened] to get in. That’s a dilemma you can’t get out of.
Stone also told the interviewer that though he had the chance to get Lloyd Blankfein’s notes on the flick, he declined to screen it for the li’l fella, assuming he wouldn’t like it, due to the criticism of “the banking class.” Which I think it unfair! Would LB have opened the doors of 85 Broad and allocated multiple partner managing directors to give Shia an insider look at what life is like at GS (and what it takes to get hired at the place) if he wasn’t looking forward to this thing?! Continue reading »
