A New York lawyer who said he paid his ex-wife $2.7 million of the purported value of his account with Bernard Madoff can sue her to revise their 2006 agreement because of Madoff’s Ponzi scheme, an appeals court ruled. [Bloomberg]
Archive for January 2011
Great News For Anyone Looking To Stick It To Former Spouse Years After Divorce (Provided You Invested With Madoff)
By Bess Levin
The lock-up period’s not over yet but that’s just the kind of guy he is. There’ll be a small fee associated with the exit, of course, and the knowledge that you’ll never find a manager with a pair like Big Tepp. Continue reading »
How many times have you said to yourself, “I’m just doing the Wall Street thing for now- one day I’m going to quit this shit and do something that fulfills me- like brew moonshine”? Probably so many that your colleagues, friends, and family are sick of hearing about it. You’ve never actually done it because you’re weak or scared or haven’t yet found the perfect recipe. Unlike former portfolio manager Ed Tiedge, who in 2008 was faced with a choice– look for a new gig on the Street following the implosion of his firm or quit the biz to live out his dream of distilling vodka and gin with hints of things like honey, juniper berries, rose petals, lavender, galangal, and orange peel. He went with the latter and will perhaps inspire you to brew that first batch of illegal sauce today. Continue reading »
No, not talking about the possibility of blood clots or loud noises being the cause. Talking about something far more plausible. Continue reading »
Bloomberg Columnist Counsels Brett Favre To Find A Post-NFL Career That “Fills The Competitive Void”
By Bess Levin
Like some of his colleagues on the field, perhaps Favre should consider a gig on Wall Street. Continue reading »
Are you a lady financial services employee based in Chicago interested in getting in a boxing ring? Are you a male financial services employee who knows a lady that fits the previous description, who has either beat the shit out of you before or you simply get the sense it’s entirely possible she could? Continue reading »
Which Is The Most Plausible Lie Told By Fake Banker/Lawyer/Doctor/Duke/Dancer Lawyer Paul Bint
By Bess Levin
Paul Bint is a Brit whose only real job was a brief stint as a hairdresser. Figuring that’s not how one lands the ladies, he instead told a whole bunch of women (exact figure to be discussed shortly), over a period of years that he was a banker. And also a barrister. And a doctor. And a ballet dancer. And a Duke. It was pretty easy, Bint says, all he had to do was “read up on” his chosen profession steal some credit cards. In some instances, he pretended to be actual living people– murder prosecutor Orlando Powell, the Duke of Arundel, Director of Public Prosecutions Keir Starmer, etc– and did a pretty decent job. In fact, one women didn’t realize something might be fishy until, after breaking things off with him, he spray-painted the word ‘bitch’ on the side of her house. Recently released from prison, Bint took a few moments to talk shop. Continue reading »
Moynihan Fights Fire At Bank Of America Amid Book Value Doubts (Bloomberg)
“Brian’s got his hands totally full dealing with the internal issues and the external focus on some of the problems of the company,” Stephen A. Schwarzman, CEO of Blackstone Group LP, the world’s biggest buyout firm, said in an interview. “He is in firefighter mode, dealing with fires that will be contained but need attention.”
Illinois Has Days To Plus A $13 Billion Deficit That Took Years To Build (Bloomberg)
Anyone have any tips?
Blackbirds Died Of Blunt Trauma Mid-Air (KUAR)
Keith Stephens of the Arkansas Game and Fish Commission says between 4,000 and 5,000 of the birds are now believed to have rained on New Year’s Eve. “There was a lot of trauma in the breast tissue, blood clots in the body cavity and internal bleeding,” Stephens says. “So, it looks like maybe they got startled, they may have flown into each other, flown into a house, flown into a tree. They don’t have very good night vision,” he says, “and maybe they ran into each other, fell to the ground and died.”
Buffett Locks In Rates on New Bonds Amid Rising Yields (Bloomberg)
A unit of Buffett’s Omaha, Nebraska-based holding company issued $750 million of 4.25 percent, 10-year notes yesterday priced to yield 95 basis points more than similar-maturity Treasuries, according to data compiled by Bloomberg. It also sold $375 million of three-year, 1.5 percent notes and the same amount of floating-rate debt yielding 33 basis points more than the three-month London interbank offered rate, the data show. “The market scrutinizes Buffett’s moves very closely and this would indicate he’s thinking interest rates in the longer term may go up,” Vijay Chander, Hong Kong-based head of credit strategy at Standard Chartered Plc, said in a phone interview.
Cash Keeps Facebook’s Status Private (WSJ)
Who’s excited for the days/weeks/months of headlines incorporating Facebook terms?
Goldman Investment in Facebook May Draw SEC Scrutiny (Bloomberg)
Goldman Sachs invested $450 million in Facebook and is planning to create a special purpose vehicle for its clients to make additional investments worth as much as $1.5 billion. Some private companies avoid crossing the disclosure threshold when investors’ funds are channeled through a single entity, such as a private equity firm or hedge fund. “The real question is, what are the details of this special purpose vehicle?” said James Angel, a finance professor at Georgetown University’s business school in Washington. If the investment is designed to circumvent the rule, “the SEC should be looking very closely at it.”
Facebook May Not Be The Next Google (FT)
Oh, he went there. Continue reading »
$$$ Citadel Securities Loses Senior Executives: Boas, Kurtzman, Mayer [Bloomberg]
$$$ Goldman Clients Jockey for Shot at Facebook Shares [WSJ]
$$$ Obama Said To Consider JPMorgan’s William Daley For Top White House Post [Bloomberg]
$$$ Man Skis Down Park Avenue At 40 MPH [YouTube/Gawker] Continue reading »
Nothing to get too excited about but if he’s staying true to his September resolution, probably means you get a house! and you get a house! and you get a house! [Daily Mail]
