As you may have heard, the FDIC has sued three former Washington Mutual execs, including CEO Kerry Killinger, COO Stephen Rotella, and home loans president David Schneider, whose “extreme and historically unprecedented risks with WaMu’s held-for-investment home loans portfolio” resulted in the bank’s collapse (according to filing, the bank’s chief risk officer told Killinger WaMu’s “DNA” was missing “the risk chromosome,” a few weeks before it went into receivership, to which Killinger likely scoffed and called the guy a pussy). The regulator wants $900 million from the trio and they’re not the only ones Sheila Bair says better start cutting checks- Killinger and Rotella’s special lady friends (Linda and Esther) have been named in the suit as well. Continue reading »
Archive for March 2011
Taped Conversations Of Rajat Gupta Sharing Information About Goldman Sachs With Raj Rajaratnam Not So Bad, Say Legal Professionals
By Bess Levin
Here’s some news that should be comforting not only to former Goldman Sachs board member Rajat Gupta, but anyone who has in the past or is considering in the future leaking non-public details about a company to a hedge fund manager who’ll proceed to trade on them– should you be caught on tape doing just that, criminal charges are unlikely. Continue reading »
The least Goldman-y of the bunch were let go from the trading division yesterday, with more cuts a’ coming. Continue reading »
Despite reports by Charlie Gasparino, who said he’s heard from friends of Lloyd that he “might be planning to step down by the end of the year,” GS has reassured the world that LB will be with us for many years to come, and possibly even longer, if Lucas van Praag can get him to agree to be cryogenically frozen. Future generations shouldn’t be punished for not being born in his lifetime. [Reuters]
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Banks
Barney Frank Wants Steve Cohen To Pay For Housing Programs Republicans Would Cut
By Bess Levin
As you may have heard, Republicans want to get rid of several housing programs, including the Neighborhood Stabilization Program and the Home Affordable Modification Program. Representative Barney Frank does not want them eliminated but understands the other party has issues with federal spending and has therefore proposed a compromise for where the money can come from. Continue reading »
This is important: “FYI, there are bagpipe players performing on the balcony over the UBS trading floor in Stamford right now.” Continue reading »
To everyone who signed up- congratulations on making the right call. As one component of the prize package is dinner at Peter Luger, which does not take credit cards, I’m most excited to meet the winner in an alley to pass off an envelope stuffed with cash.** Now, some words and numbers from your Pool Manager, Dealbreaker Commenter and Friend, NakedShort. Continue reading »
“Is Lloyd Blankfein ready to leave the firm?” Chaz has apparently hunted down some of Lloyd’s “friends,” who may or may not have told him LB might be ready to leave the firm, might not be ready to leave the firm or hasn’t decided what he’s feeling at the moment. Continue reading »
Great News For Any Socially Awkward And/Or Busy And Important Chicago B-School Students
By Bess Levin
If social issues, a punishing course load or sheer laziness prevent you from getting out there and mixing it up with members of the same or opposite sex, a new site by U of Chicago students is here to help. UChicagoHookups.com. Continue reading »
Ray Dalio’s Bridgewater Associates clocked in as the hedge fund of choice among public pension plans, in a recent popularity contest, with 21 out of 150 PPP’s investing with the firm. If they can’t get a piece of Ray, the funds people will settle for are: Continue reading »
