As you may have heard, Meredith Whitney has lately been saying that we’re going to be looking at the scariest environment imaginable when as many as 50 to 100 cities and other municipal issuers will supposedly default on their debt this year. Charlie Gasparino, however, is suspect. No one he knows has seen a copy of Whitney’s report (entitled “State Budgets: The Day of Reckoning”) and until he gets a peak and can evaluate it, Chaz doesn’t think we should be buying what this broad is selling. Continue reading »
Archive for January 2011
Kevin Connors, co-head of global G10 FX sales, is “leaving” the bank following “a breach of internal compliance procedures.” [Bloomberg]
Last month, UBS issued a 44-page set of style commandments for its client-facing employees that included wearing flesh-colored undergarments (never anything red or otherwise flashy), not eating garlic (or anything else that might cause breath issues), how to tie a tie, how to apply make-up, what kind of cologne and perfume to use, a strong opinion against facial hair and one in favor of watches (which demonstrate “trustworthiness and a serious concern for punctuality”). Continue reading »
$$$ PIMCO Cuts US Holdings, Sees Outflows [WSJ]
$$$ El-Erian: ‘Exciting Time‘ for Investors Despite Debt Issues [CNBC]
$$$ Programming note: we’ll be off for the holiday, enjoy the long weekend and see you Tuesday! Continue reading »
Vincent McCrudden’s Unique Way Of Interacting With People Not Just Reserved For Mary Schapiro, Other Regulators
By Bess LevinAccording to McCrudden’s broker registration form, the guy who would go on to accuse CFTC officials of being “corrupt midget mother fuckers” and threaten to murder them also had some issues with colleagues prior to starting his own firm. Continue reading »
According to the complaint, McCrudden noted on his website, which has since been scrubbed, “There are no good ways to execute this plan. These people have got to go! And I need your help, there are just too many for me alone [.]” (He also provided a list of the people he intended to cross off, including Mary Schapiro, Richard Ketchum and Gary Gensler, among many others.
2010 performance. Continue reading »
Here’s An Example Of An Email The Money Manager Arrested For Threatening To Kill 47 Regulatory Officials Sent
By Bess LevinPer the complaint, this note, which went to a CFTC staffer, was accompanied by the subject line “You’re not getting away with this…Merry Christmas!”
Here’s another sent 16 hours later to the chairman of the CFTC one involving midgets. Continue reading »
If so, someone didn’t tell money manager Vincent McCrudden, who, according to CNBC, was arrested today by the FBI for things of that nature (he allegedly made told a total of 47 “US financial regulatory officials” that he might kill them). Continue reading »
Proving yet again that in this country, we don’t let banks fail even if they want to. Continue reading »
