November 2011

  • News

    Trades Not Workin’ Out For Ya? Area Hedge Fund Manager Will Show You How To Save A Buck

    “I save a small fortune in taxi and subway fares—plus untold hours sitting in traffic or on a subway platform—by riding my bike everywhere in Manhattan,” Whitney Tilson told the Journal, which estimates you can save “at least $4,000 a year,” in addition to what you spend on the gym, using Tilson’s chosen mode of […]

    / Nov 21, 2011 at 5:57 PM
  • News

    Hank Greenberg Wants To Know Why His Bailout Was So Much Crappier Than Everyone Else’s

    The complaint in Hank Greenberg’s lawsuit against America is now online, and strange and entertaining in equal measures. I’m pretty sure Occupy Wall Street will be interested to hear his theory that the Constitution allows Fed bailouts of struggling financial institutions, but requires those bailouts to be much gentler than the one handed to AIG. […]

    / Nov 21, 2011 at 4:26 PM
  • News

    What? No One Ever Said Math Was Their Forte

    The trustee overseeing the wind-down of MF Global Holdings Ltd.’s brokerage said Monday that more than $1.2 billion in customer funds could be missing from the failed firm, more than double the original estimate of missing cash. [NYP]

    / Nov 21, 2011 at 2:46 PM
  • News

    Layoffs Watch ’11: Credit Suisse

    The Swiss bank sent a handful of employees to a farm upstate earlier today.

    / Nov 21, 2011 at 12:58 PM
  • News

    Hank Greenberg Estimates If The Government Had Minded Its Own Damn Business Back In ’08, AIG Would’ve Been At Least $25 Billion Ahead Right Now

    Remember September 2008? Remember how American International Group was doing in September 2008? Kind of not so hot? Maybe needed the government to front it some cash to the tune of $85 billion? Maybe needed even more money after that, even though they swore they just needed that one hit, just to get them by? […]

    / Nov 21, 2011 at 11:47 AM
  • News

    Jefferies: Nothing Is Fucked

    Whatever you’ve heard, whatever you’ve read, whatever you’ve seen, whatever you saw- lies, all lies, spread by a hedge fund that Jefco isn’t going to dignify with a name-check.

    / Nov 21, 2011 at 11:23 AM
  • Opening Bell

    Opening Bell: 11.21.11

    U.S. Debt Supercommittee Ready to Announce Failure (Bloomberg) A debt-reduction committee with special powers that was supposed to dissolve congressional gridlock in Washington is instead on the brink of failure, setting the stage for $1.2 trillion in automatic spending cuts. The 12-member bipartisan supercommittee likely will announce today that it can’t reach agreement on deficit […]

    / Nov 21, 2011 at 8:56 AM
  • Write-Offs

    Write-Offs: 11.18.11

    $$$ Hedge-Fund Manager Sentenced to 5 Years in Insider Case [WSJ] $$$ Smaller Deficit Deal Discussed as Deadline Looms [WSJ] $$$ Bethany McLean: “The reality is that the EFSF wasn’t meant to be an active institution; it was supposed to be a fire extinguisher behind glass: never to be used.” [Reuters] $$$ Rajat Gupta, Raj […]

    / Nov 18, 2011 at 7:04 PM
  • News

    Comment Of The Day: 11.18.11

    Guest on Wall Street Protests 2011: Snapple Guy Doesn’t Take Shit Or Prisoners:

    / Nov 18, 2011 at 6:43 PM
  • News

    All In All, Larry Fink Would Prefer It If You’d Buy His ETFs, Not SocGen’s

    Today’s all-the-things-are-the-same-thing news, sort of, is Bloomberg’s report of the tiff between BlackRock’s Larry Fink and a guy at “Lyxor,” which is the name of SocGen’s ETF business and also a good way to make me think of the words “pyramid,” “casino,” “typo” and now “SocGen” all at the same time, which does not make […]

    / Nov 18, 2011 at 6:12 PM
  • News

    Mayor Bloomberg Expected More From Occupy Wall Street’s ‘Day of Protest’

    Instead he was left feeling pretty meh about the whole thing.

    / Nov 18, 2011 at 4:55 PM
  • News

    Still Waiting On A Response From Syracuse Alums

    “This is alleged to have occurred…what? Twenty years ago?” Jim Boeheim said in an interview with Syracuse.com. “Am I in the right neighborhood? It might be 26 years ago? So we are supposed to what? Stop the presses 26 years later? For a false allegation? For what I absolutely believe is a false allegation? I […]

    / Nov 18, 2011 at 4:47 PM
  • News

    Confidential To Any Hedge Fund Managers Tired Of Seeing Red: Try Yellow

    Are you a down on your luck hedge fund manager who hasn’t had a good and/or original idea in a while? Did you get your face ripped off the last two years by going the wrong way on everything? Do you sense that your investors are only sticking around to be nice and/or because you […]

    / Nov 18, 2011 at 3:22 PM
  • Drinks

    Wall Street Protests 2011: Snapple Guy Doesn’t Take Shit Or Prisoners

    As you may have heard, following the middle of night raid on Zuccotti Park by the NYPD, Occupy Wall Street protestors kicked things up a notch Thursday, with full-scale gatherings in downtown Manhattan, a rally outside the stock exchange and a march back to the Brookefield-owned place they call home. Things escalated quite quickly, with […]

    / Nov 18, 2011 at 1:57 PM
  • Ratings Agency

    Ratings Agencies Incentivized By Incentives, Part 2

    A thing about credit ratings is that issuers pay for ratings, and the issuers who pay more get better ratings. This is a problem that many people want to solve either by the obvious approach of having someone else pay for ratings or by the fancier approach of having issuers pay for ratings but not […]

    / Nov 18, 2011 at 12:45 PM
  • Banks

    Occupy London Protestors To Show UBS How To Run A Bank Without Losing Money

    Occupy London campaigners have taken over a derelict building owned by investment bank UBS…The building they have taken over at Crown Place belongs to, but is not occupied by, UBS and no business transactions take place there. The activists plan to set up a “bank of ideas” there tomorrow and open the disused offices and […]

    / Nov 18, 2011 at 11:28 AM
  • Opening Bell

    Opening Bell: 11.18.11

    Draghi turns tables on eurozone leaders (FT) Mario Draghi has turned the tables on eurozone leaders by demanding they implement urgently measures to combat the escalating debt crisis, and warned of massive economic and social costs if instead the European Central Bank’s credibility was put at stake. In an uncompromising message, the new ECB president […]

    / Nov 18, 2011 at 8:41 AM
  • Write-Offs

    Write-Offs: 11.17.11

    $$$ NYPD appear to take Wall Street protester’s pants off, for some reason [Kateoplis] $$$ Dick Bové: US Banks Could Benefit From Europe’s Crisis [CNBC] $$$ Paulson’s Profit On Delphi May Top $400M [FINalternatives] $$$ Former ‘Car Babes‘ Are Gaining a More Active Sales Role—and New Professional Clothes [WSJ] $$$ Yelp Files To Raise $100 […]

    / Nov 17, 2011 at 6:20 PM
  • News

    Wall Street Wives Promises Not To Rub People’s Faces In It

    Back in July we learned that a long-held dream was in reach: Lisa Maria Falcone and her singing, swinging, and generally dazzling pig, Wilbur F. Falcone (*the ‘f’ stands for Fucking-fabulous), in our living room, every week. Wall $treet Wives was coming to town. Not too soon after that, said dream was shattered. The preliminary […]

    / Nov 17, 2011 at 6:19 PM
  • News

    Comment Of The Day: 11.17.11

    A group effort by Guest and Herb Schmertz on Penn State Alums/Merrill Lynch Wealth Managers “Struggle” To Understand Why This Had To Happen To Them:

    / Nov 17, 2011 at 5:47 PM
  • Banks, News

    Layoffs Watch ’11: UBS Planning To Downsize Its Rogue Trading Division

    Here are two things that you don’t hear every day, just almost every day: layoffs at UBS and not so hot supervision of trading at UBS. Actually the good news is, strictly speaking, there were no new layoffs announced today, anyway: The bank also announced an additional 300 job losses on top of the 1,575 […]

    / Nov 17, 2011 at 3:36 PM
  • News

    Columbia Alums Now Have Their Turn To Look Into The Abyss

    The Columbia University marching band has been banned from performing at Saturday’s home finale against Brown, after poking fun at the Lions’ losing ways following a 62-41 defeat last weekend at Cornell. After every game, win or lose, the Columbia band plays the school fight song, “Roar, Lion, Roar.” But last Saturday, the band altered […]

    / Nov 17, 2011 at 3:34 PM
  • News

    NYPD Now Wants Protesters In Zuccotti Park

    In fact, they’re reportedly not letting anyone leave the park (all exits have been closed off), unless they’re being arrested.

    / Nov 17, 2011 at 2:04 PM
  • News

    Layoffs Watch ’11: Bank Of America

    Cuts are said to have gone down at the House of Moynihan yesterday.

    / Nov 17, 2011 at 1:35 PM
  • News

    At Least They Didn’t Sodomize Anyone?

    Around 11 a.m., hundreds of protesters streamed into Zuccotti Park, shoving aside barricades and flowing into the granite expanse that they had been ousted from on Tuesday. They chanted “our park” and lifted barricades in the air near Cedar Street…A line of police officers wielding batons pushed into the crowd near Cedar Street, but after […]

    / Nov 17, 2011 at 12:58 PM
  • News

    Penn State Alums/Merrill Lynch Wealth Managers “Struggle” To Understand Why This Had To Happen To Them

    Two weeks back, former Penn State defensive coordinator Jerry Sandusky was charged with 40 counts of sexual abuse perpetrated against young boys, including an alleged incident in which Sandusky raped a 10 year-old in the shower. Since then, even more victims have come forward, and it’s been difficult to imagine how they’re coping, particularly when […]

    / Nov 17, 2011 at 12:26 PM
  • Opening Bell

    Opening Bell: 11.17.11

    Thousands Mass Near Wall Street To Start Day Of Protests (WSJ) Thousands of people have gathered near the former home of Occupy Wall Street in Lower Manhattan to start a citywide day of demonstrations to mark the movement’s two-month anniversary, blocking streets and sidewalks and facing an army of police in riot gear and on […]

    / Nov 17, 2011 at 9:27 AM
  • Write-Offs

    Write-Offs: 11.16.11

    $$$ UBS Chief Ermotti to Follow Gruebel in Shrinking Investment Banking Unit [Bloomberg] $$$ Malcolm Gladwell is now a Bank of America employee, kind of. [MarketWatch] $$$ Lululemon’s Ayn Rand bag irks some [Globe and Mail] $$$ Occupy Wall Street Has A Real Office Now [Daily Intel]

    / Nov 16, 2011 at 7:20 PM

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