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$$$ New York Fed reveals Twist schedule (FT)
$$$ Buffett Says Tax Rich Money Shufflers to Ease Burden on American Families (Bloomberg)
$$$ Deal Would Unite S&P With DJIA (WSJ)
$$$ Wall Street Decathlon Gives Executives Their Own Athletic Competition (Bloomberg)
$$$ Kodak Hires Lawyers, Weighs Bankruptcy Filing (DealBook)
$$$ Lenders left Tarp too soon, says audit (FT)
$$$ “Here is one thing that can help you. Tomorrow, wear a polo and khakis.” (Reddit)
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I am far enough behind on CFA studying that I have not yet learned how to do a DCF (is that on Level I?), but I’m pretty sure that even at Level IV you might have trouble modeling this acquisition: Continue reading »
“Bring me my purse, Chris.” Continue reading »
You might think that an agency that missed the Madoff fraud for years even after being told about it would have some sympathy for people who are, not bad guys necessarily, just a little sloppy on the whole looking-out-for-investors front. But you would be wrong:
Securities and Exchange Commission officials are trying to make it easier on themselves to hold more individuals responsible for wrongdoing during the financial crisis.
The good news, though, is that the way they’re going to make life easier for them is by reducing the stakes, pursuing negligence cases where they only have to show that someone acted “without reasonable care, even if there was no intent to harm investors.” The tradeoff for the SEC is:
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And then? BofA will be snapping necks and cashing checks. Continue reading »
On October 13, Judge Richard Holwell will pass down a sentence for convicted insider trader, Raj Rajaratnam. If the prosecution has its way, the Galleon Group founder will go away for twenty-four years. Obviously, the defense would prefer a little less time and in August, following Raj’s brother’s unsuccessful appeal for people to send character letters to the judge asking for lenience, turned to Plan B: breaking the news that Raj is suffering from a disease the likes of which you can’t even imagine, noting in a court filing that he will die from “unique constellation of ailments ravaging his body” if given anything even approaching twenty years. This, clearly, was well-played. Continue reading »
“The protesters are protesting against people who make $40-50,000 a year and are struggling to make ends meet. That’s the bottom line,” Bloomberg said, presumably meaning service workers on Wall Street, adding that “we all” share blame for taking on too much risk, not just the financial industry…Asked if there’s an “end-game” for the protesters and if they will be allowed to stay in Zuccotti Park, which is privately owned but open to the public, Bloomberg said, “We’ll see. [VV]
