Lieutenant Governor Richard Ravitch knows. Continue reading »
Archive for December 2010
DealBreaker MadLibs: What Kind Of Borrowing Schemes Are Wall Street Bankers Out There Peddling?
By Bess Levin
As you may or may not have noticed, things have really been looking up at Citi. The bank beat Goldman at something, it got the government’s ball-gag removed from its mouth and today comes the news it was able to land a big hire in academic rainmaker, Peter Orszag, whose job description is “youngest member of Citi’s Senior Strategic Advisory group, a counsel of Wall Street wise men that its bankers can call on to parachute in with advice on complex deals.” And that’s not all. Continue reading »
Prince William broke the record for the largest foreign currency trade when he joined his father to take part in the ICAP fancy-dress charity day on Wednesday. He joked with one bank: “I have got Batman and Robin standing either side of me… They are very slow here. I have had to come and give them some help.” There was loud applause when the prince eventually completed the deal, which saw Barclays trade €17bn (£14.2bn) with Credit Suisse based on the projected currency value for Wednesday and Thursday.
Earlier: Sarah Jessica Parker, Darryl Strawberry, Magic Johnson And Tyra Banks Walk Onto A Trading Floor
Yesterday, we introduced you to a tremendous woman– former equity analyst turned interracial relationship consultant, JC Davies. Davies, who spent a decade on Wall Street working at ING Barings, then Goldman Sachs and finally RIM Securities, is the author of the book, “I Got The Fever” (the self-diagnosed fever she got is for men of every color of the rainbow). I said I’d be requesting an interview but before I could, this arrived: Continue reading »
November performance. Continue reading »
Yesterday it was suggested that bonuses at JPMorgan will be roughly equal to 2009. Apparently that’s only if you’re lucky. Continue reading »
A lot people would probably tell you that bond investor Jeffrey Gundlach’s awesomeness stems from the staggeringly impressive sex toy and porn collection he kept in his office at TWC before he was fired/quit last year (itemized here). And while being Wall Street’s foremost dildo collector and having the entire Dr. Fellatio series, as in volumes 1-16, on hand is certainly something to admire someone for, it’s not actually the attribute that defines Gundlach or makes him stand out from the pack. Arguably, JG’s most defining characteristic– the one that just makes you want to squeeze his cheeks– is how much Jeffrey Gundlach loves himself some Jeffrey Gundlach. Continue reading »
Back in August, the Daily News ran this photo of Billy Joel on a bike with an unnamed blonde woman, who the paper claimed was an employee of Morgan Stanley and Joel’s new lady love. In October, a report claimed she was actually a Goldman Sachs “banker” (a tip possibly sourced to the GS c-suite, where they would just love to be able to say one of their own is tapping Joel). Today, the saga has finally been put to bed. The woman has gone public to say her name is Alexis, she works at Morgan Stanley and she’s in love with Mr. B. Continue reading »
Morgan Stanley Set To Trim Executive Pay (WSJ)
The bank has told executives to budget some 10% to 25% less for bonuses this year as the securities firm tries to put a tight lid on pay while wrestling with turbulent market conditions and the company’s makeover, according to a person familiar with the situation. Dozens of managing directors who oversee groups of employees at the New York company have been informed of the estimates, which are preliminary and subject to change in the coming weeks, this person said. The cuts would affect traders, back-office staff and other major employee groups, though unusually strong performers in equity capital markets and investment banking could be spared. Top executives also might be pressed to take less.
Larry Summers: White House Still Committed To Trimming Deficit (Reuters)
“We have been successful in achieving the first prerequisite for meaningful deficit reduction, namely taking measures that will significantly accelerate growth,” National Economic Commission Director Lawrence Summers said in an interview. Summers said he expected the tax cut plan hammered out between the White House and congressional Republicans to be enacted by Christmas and said it would actually reduce the budget deficit in 2015 because of stepped-up growth and changes associated with corporate expensing provisions.
Mike Bloomberg: I’m Not Running For President (CNBC)
FYI.
US Initial Jobless Claims Fell 17,000 To 421,000 Last Week (Bloomberg)
“The labor market is moving in the right direction, slowly but surely,” said Ryan Sweet, a senior economist at Moody’s Analytics Inc. in West Chester, Pennsylvania. “Things look a little better than they first appeared, but we’re still not creating enough jobs to lower the unemployment rate.”
More Than Half Of Americans Want Fed Reined In Or Abolished (Bloomberg)
While three-quarters said they’d like to see Bernanke sans beard. Continue reading »
$$$ US Aims To Sell $15 Billion In AIG Shares [WSJ]
$$$ “The SEC alleges that the patent agent tipped material, non-public information about the EXAS transaction to his brother, who relayed it to his fraternity brother Cohen. For example, the patent agent’s brother sent Cohen an e-mail asking, “[a]ny word related to Blu H@rsesh0e? La Jolla says the times are ripe.” The movie Wall Street uses the phrase, “Blue Horseshoe loves Anacot Steel,” as a code for insider trading. “La Jolla” references the fact that the patent agent lived and worked near La Jolla, Calif.” [SEC]
$$$ Walmart Interested In Wine Vending Machines [CBS]
$$$ Two Investment Strategies for The Payroll Tax-Cut [NetNet]
$$$ Dick Parsons: Citi Too ‘Interwoven‘ To Fail [CNBC]
Continue reading »
At least, that’s what one might gather from the fact that some potential investors receive just Doubloons with their market materials, while others get pirate-branded currency and mouse pads. Continue reading »
