Chase Coleman’s Tiger Global Said to Put New Private-Equity Fund Into Facebook (Bloomberg)
Tiger Global has $1 billion in commitments and plans to line up an additional $250 million by next month, said the people, who asked not to be identified because the information is private. Coleman, 35, has steered about $80 million from the new pool into Facebook, whose more than 600 million users make it the top social-networking site.
Treasury Announces Citigroup’s Warrant Auction (AP)
The government says it will sell 465.1 million warrants it holds from Citigroup in an auction on Tuesday. It is the latest effort to recoup costs from the $700 billion financial bailout.
Morgan Stanley Banker Drawn Into Galleon Probe (WSJ)
Kamal Ahmed, 42 years old, is the first Wall Street banker publicly drawn into the Galleon investigation. The government is preparing for Mr. Rajaratnam’s trial late in February. Mr. Ahmed wasn’t named in the filing but people close to the situation say he is the banker referred to anonymously by the government. Mr. Ahmed was put on leave on Friday in connection to the filing. He hasn’t been accused of wrongdoing and it isn’t clear if he will be charged in the case. The government filing on Friday said that the unnamed Morgan Stanley banker informed another person that ATI Technologies Inc. was going to be acquired by AMD. The other person, whose name was also redacted from the filing, told Mr. Rajaratnam about the acquisition, the filing says.
Obama’s Address Previews 2012 Race (WSJ)
The speech and the Republican response are likely to frame contrasting philosophies that will drive political discourse for the next two years. Mr. Obama has chosen “competitiveness” and “investment” as terms to guide discussion over how to create jobs, daring Republicans to resist his push for new spending in areas that he will call vital to the nation’s future. He will seek to wall off education, infrastructure, science and energy from cuts, in effect making them the ground on which the 2012 campaign is to be fought.
Mortgage Giants Leave Legals Bills To Taxpayers (NYT)
Taxpayers have paid $24.2 million to law firms defending three of Fannie’s former top executives: Franklin D. Raines, its former chief executive; Timothy Howard, its former chief financial officer; and Leanne Spencer, the former controller.
US Treasury’s Toxic Asset Fund Gains 27% (Reuters)
Since the funds were established in 2009, they have used about $5.2 billion of Treasury’s equity investment to buy toxic assets. As of the end of 2010, the funds have gained $1.1 billion to about $6.3 billion, according to the data.
Metals Traders Worth $3 Million at Wall Street Banks (Bloomberg)
Metals traders probably earned as much as 20 percent more last year than in 2009, with the most-profitable getting $2 million to $3 million, said Peter Henry, head of front-office search at Commodity Search Partners Ltd. The figure, confirmed by three other recruiters who declined to be identified because they aren’t authorized to speak publicly, compares with no change to a drop of 10 percent in pay across commodities personnel. “Metals traders are an exception when there’s pressure on banks to cut remuneration,” New York-based Henry said. They “are making more money than other parts of the banks and the bonuses reflect that to some extent,” he said.
Woman Dies in Driveway as Cold Hits Northeast (AP)
An arctic blast from Canada is responsible for some of the frigid temperatures in the northern U.S. and some of the coldest air to hit the Northeast in two years. The cold was linked to at least two deaths in the Northeast, including that of a woman whose frozen body was found in a driveway. Read more »