• 20 Jul 2010 at 8:30 AM

Opening Bell: 07.20.10

Goldman Sachs Reports 2010 Second Quarter Earnings Per Common Share of $0.78. Excluding the Impact of the U.K. Bank Payroll Tax and the SEC Settlement, Earnings Per Common Share were $2.75. (GS)
Revenue of $8.84 billion, conference call at 11am.

Fabrice Tourre Denies Charges (WSJ)
The 31-year-old Goldman vice president, in a court filing late Monday in response to the Securities and Exchange Commission’s complaint, said that he can’t be held responsible for “for any alleged failings” made by the firm. Mr. Tourre said he was simply doing his job. “The purported claims against Mr. Tourre and the allegations upon which they are based are improperly vague, ambiguous and confusing, and omit critical facts,” according to the 13-page response. “The purported claims against Mr. Tourre are based solely on alleged actions and omissions concerning information known to many different Goldman Sachs employees working in various aspects of its business, including Legal, Compliance, sales and trading.”

BNY Mellon, State Street Report Higher Earnings (Reuters)
Bank of New York Mellon reported second-quarter profit attributable to shareholders of $658 million, or 54 cents a share, up from $176 million, or 15 cents a share, a year earlier. Revenue climbed 3 percent to $3.3 billion. State Street said earnings on an operating basis climbed to $464 million from $441 million a year earlier, as earnings per share rose to 93 cents from 89 cents.

Pimco Sells Black Swan Protection as Wall Street Markets Fear (Bloomberg)
Pimco, Deutsche Bank and Citi are among firms offering clients tail-risk protection, either through funds or traded instruments that act as hedges. Nassim Taleb said few will have the stomach to stick with the strategy. “They will drop like flies,” said Taleb. “They and their customers will give up at some point. I’ve seen it before.”

Mega Banks Pressure Smaller Players (WSJ)
Bank of America, JPMorgan and Wells Fargo, which hold about $3.50 of every $10 in local deposits, are “squeezing” and “hoarding” customers “any way they can,” says Jeff Wagner, chief financial officer at Florida Business Bank. Corporate customers are being told by the biggest lenders not to move their deposits to other banks or else they might not get a new loan, he says.

AIG’s Tucker Said to Tell AIA Staff He’ll Triple Unit’s Value (Bloomberg)
Mark Tucker, who was named head of American International Group Inc.’s main Asia division, told staff that he plans to triple the unit’s value to $100 billion, according to a person with knowledge of his remarks.

SEC May Add 800 New Positions as Part Of Reform (Reuters)
Lock up your trannies.

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Comments (58)

  1. Posted by guest | July 20, 2010 at 8:43 AM

    Evelyn Davis will not be pleased.

  2. Posted by Anonymous | July 20, 2010 at 8:50 AM

    no link to the hot IR chicks?

  3. Posted by WCBURRS87 | July 20, 2010 at 8:50 AM

    IR Dimes is out!

  4. Posted by Anonymous | July 20, 2010 at 8:53 AM
  5. Posted by Anonymous | July 20, 2010 at 8:56 AM

    Is that even legal? Okay. Right. I know. I’m having a hard time keeping a straight face, too.

  6. Posted by Anonymous | July 20, 2010 at 8:57 AM

    GS numbers are moo-sic to my ears!

  7. Posted by Anonymous | July 20, 2010 at 9:07 AM

    no love for Rebellion Research on the IR dimes list?

  8. Posted by sladd | July 20, 2010 at 9:12 AM

    drum roll for the IR Dimes……

  9. Posted by guest | July 20, 2010 at 9:16 AM

    “SEC May Add 800 New Sex Positions as Part Of Reform”
    -fify

  10. Posted by Anonymous | July 20, 2010 at 9:18 AM

    Let Bess link to IR Dimes in her own time, eaaasy boys

  11. Posted by Anonymous | July 20, 2010 at 9:20 AM

    I am wondering who Bess thinks is hot by the pictures she pulls to promo the piece….

  12. Posted by Anonymous | July 20, 2010 at 9:23 AM

    @ 11, uh, Bess is a girl, and the IR pics will be girls, so that makes NO sense.

  13. Posted by Anonymous | July 20, 2010 at 9:30 AM

    @ 12, you have the creativity of a piece of chalk. try to refrain from sharing in the future

  14. Posted by Anonymous | July 20, 2010 at 9:36 AM

    @13, chew cud.

  15. Posted by Anonymous | July 20, 2010 at 9:37 AM

    Those bitches look like Oj’s wife in 2004.

  16. Posted by Tito | July 20, 2010 at 9:42 AM
  17. Posted by Anonymous | July 20, 2010 at 9:51 AM

    All I can say about that list is, PIGBOMB!

  18. Posted by Guest | July 20, 2010 at 9:54 AM

    I use to think we had the ugliest IR girls at my last fund, but apparently I was wrong. Woof.

  19. Posted by Anonymous | July 20, 2010 at 9:58 AM

    “Brownbags of the Buyside” aka Hottest IR Nickels is more like it

  20. Posted by Anonymous | July 20, 2010 at 9:58 AM

    In Soviet Union, Cocoa corners you!

  21. Posted by Ass_ociate | July 20, 2010 at 10:03 AM

    Anyone know if the Grad girls are sisters? Same last name, two years apart at Cornell.

  22. Posted by WCBURRS87 | July 20, 2010 at 10:04 AM

    The list peaked last week in my head. It’s been all downhill since reality hit.

  23. Posted by Tito | July 20, 2010 at 10:08 AM

    Are you sure these girls don’t work for Citi investor relations? The only hottie is the one from the teaser post a few wks ago.

    This just proves girls can’t properly judge other girls correctly. You focus too much on the handbags and shoes.

  24. Posted by Anonymous | July 20, 2010 at 10:11 AM

    Fact: Chelsea’s Facebook wall has a picture of her holding a Black Express card, with the following comment: “Love when I get to use this one — Rented Maserati – 5th Ave… on my way! SoHo House — see ya later!”

    Well that’s embarrassing…

  25. Posted by guest | July 20, 2010 at 10:11 AM

    @10, we’re adults and we can open the presents whenever we want.

  26. Posted by Anonymous | July 20, 2010 at 10:11 AM

    @23 – correct. Focus should be on funbags and Wizard Sleeves.

  27. Posted by Anonymous | July 20, 2010 at 10:14 AM

    With those mugs, now I see why that many IR asses were bleeding during 2008-2009.

  28. Posted by Tito | July 20, 2010 at 10:19 AM

    @26, I agree there were some nice boobies. So should the post be butterfaces of wall st?

  29. Posted by Anonymous | July 20, 2010 at 10:19 AM

    This list is an abovineation!

  30. Posted by sladd | July 20, 2010 at 10:21 AM

    I am confused I thought the IR girls was Bess’ idea, and I see it at nymag.com, with another writer alongside Bess on the article. Is Bess moonlighting for nymag.com? Bess you are not leaving us are you?

    Bess, before you go off, I am not criticizing, just thinking out loud…you are still mt DB bff

  31. Posted by NakedShort | July 20, 2010 at 10:21 AM

    Why buy the cow when you can get the milk for free?

  32. Posted by Anonymous | July 20, 2010 at 10:23 AM

    LiLo could really use Double Rainbow Guy in her life right now. Ahh hell, we could all use him in our life. And a few tacos.

  33. Posted by Anonymous | July 20, 2010 at 10:25 AM

    Hmmm how did this happen?

  34. Posted by sladd | July 20, 2010 at 10:26 AM

    Elizabeth Bock, Lauren Gross, and Ashley Fochtman, were definitely my favs. The rest not so much, but still attractive, or um, attractive features…

  35. Posted by ExtraordinaryPopularDelusions | July 20, 2010 at 10:36 AM

    Paige Snyder. In the barn. With the milking machine.

  36. Posted by Kim Jong Il | July 20, 2010 at 10:37 AM

    These bitches couldn’t sell me free checking…

  37. Posted by Anonymous | July 20, 2010 at 10:40 AM

    Paige must be the most succesful Florida Atlantic graduate in histroy.

  38. Posted by Anonymous | July 20, 2010 at 10:43 AM

    That’s a frame from Napolitano’s sex tape, amiright?

  39. Posted by Anonymous | July 20, 2010 at 10:47 AM

    OH MY!

  40. Posted by Bess Levin | July 20, 2010 at 10:47 AM

    1. The list was Hottest IR girls. Not Hottest Girls On Earth, not Hottest Girls In NYC, not Hottest Girls At A Strip Club, not Hottest Girls On Wall Street in general.

    2. These were the people YOU nominated (in some cases, many times).

    3. Having said all that, many of you here would (attempt to) bang (at least) half those girls.

  41. Posted by Anonymous | July 20, 2010 at 10:54 AM

    What the fuck was that, 16?

  42. Posted by Tito | July 20, 2010 at 10:57 AM

    @bess: I think your 1 & 2 are good points

    #3: after 14 cases of scotch, yes.

  43. Posted by Anonymous | July 20, 2010 at 11:00 AM

    Bess, you have my full attention.

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