December 2011

  • News

    BarCap Has No Idea What The Wall Street Journal Is Talking About

    Barclays Capital, the investment-banking division of Barclays PLC, has run up significant losses trading base metals this year after a series of bets it made on copper, nickel and aluminum turned sour, people familiar with the situation said Thursday. Traders at the London Metal Exchange familiar with Barclays Capital’s trading positions said could amount to […]

    / Dec 22, 2011 at 1:48 PM
  • News

    Get In On Sandy Weill’s Blow-Out Sale Today

    For reasons that are not yet entirely clear, Sandy Weill is selling all his worldly possessions. (He claims he and the wife are “downsizing a little bit” but this smacks more of someone having a feng shui attack.) Earlier this month it was Sando’s 15 Central Park West penthouse, which was bought for $88 million […]

    / Dec 22, 2011 at 1:19 PM
  • News

    Getting Facials Will Get You Further On Wall Street

    Today we’re going to talk about something really important: your beauty routines. What you do to look good, what buy to look better. Hard numbers re: what kind of coin you’re dropping on toners and moisturizers. Thinking about claiming you don’t use any of that crap? Let’s not play that game. You’re slathering $95 eye […]

    / Dec 22, 2011 at 12:17 PM
  • Opening Bell

    Opening Bell: 12.22.11

    Facebook’s Goal: to Be a Blue Chip (WSJ) …interviews with Mr. Zuckerberg and others inside Facebook reveal the eight-year-old company is trying to emulate the influence, staying power, and meticulousness of the biggest technology companies. Since last year, Facebook executives have been crafting dummy scripts for quarterly earnings calls, addressing imaginary questions from analysts about […]

    / Dec 22, 2011 at 9:30 AM
  • Write-Offs

    Write-Offs: 12.21.11

    $$$ Goldman Preps for New Age of Regulation [FBN] $$$ Collapse in M&A amid debt turbulence [FT] $$$ Money market funds are risk averse [FT] $$$ “On my economic forecast, I drew a picture of a dragon,” other charts [WaPo] $$$ On the menu, dishes like a mix of seafood in a white wine and […]

    / Dec 21, 2011 at 6:27 PM
  • News

    Bonus Watch ’11: Eleventh Year Jefferies CEOs

    Richard Handler has declared himself not worthy.

    / Dec 21, 2011 at 5:39 PM
  • News

    Occupy Darien Could Use A Hand Here

    The first day of the Occupy Darien demonstration got off to a slow start at a wet Tilley Park in Darien on Wednesday morning with about 10 protesters coming out for the event…Tommy Fox, a veteran of several Occupy Wall Street protests, came from New York to take part in the event. He blamed the […]

    / Dec 21, 2011 at 5:31 PM
  • Banks, News

    What We Talk About When We Talk About Bank Capital

    Boy, those new Fed regulations, they are long. They have lots of things. Like stress tests, and liquidity buffers, and the thing where you can’t have credit exposure of more than 10% of your regulatory capital to one bank.* But the thing that they mostly have are capital requirements, which are kind of not that […]

    / Dec 21, 2011 at 4:27 PM
  • News

    Bank Of America Still “Reaping The Benefits Of What Countrywide Hath Sowed”

    Remember, back in ’08, when Angelo Mozilo cried while telling a bunch of Countrywide shareholders that Bank of America, which had just bought the place, would “reap the benefits of what we have sowed“? Obviously that was was Moz-Speak for “you’re about to find out what it’s like to be forcibly sodomized for all eternity,” […]

    / Dec 21, 2011 at 3:46 PM
  • News

    Soliciting Weed Money In Times Square Actually Somewhat Lucrative

    He calls himself the Weed Man, and he has become a familiar presence in Times Square, standing near Planet Hollywood and holding aloft a placard that stands out even in this part of the city. “Help!” the sign, in green letters, reads. “I Need Money for Weed!” The man, Joshua Long, has become a favorite […]

    / Dec 21, 2011 at 1:50 PM
  • News

    Area Man Successfully Identifies Bank Of America’s Achilles’ Heel

    Are you frustrated with Bank of America? Do you have one simple request, but have found it impossible to get through to anyone? Do you feel like no one’s listening? Maybe you’re an employee who wants to have a frank talk about bonuses, and if you can expect to get one this year. Maybe you’re […]

    / Dec 21, 2011 at 1:05 PM
  • Banks

    RBS Not Taking A “Knee-Jerk” Approach To Laying Off Employees

    Earlier this week, it was reported that RBS would be taking the next couple months to decide which businesses it wants to “remain in” and which it doesn’t. Management was said to be considering “shutting or selling” its equities unit and, as these things go, laying off the 1,000 people it employs, as well as […]

    / Dec 21, 2011 at 11:29 AM
  • News

    Opening Bell: 12.21.11

    ECB Lends Banks $645B, Exceeding Forecast (Bloomberg) The European Central Bank will lend euro-area banks a record amount for three years in its latest attempt to keep credit flowing to the economy during the sovereign debt crisis. The Frankfurt-based ECB awarded 489 billion euros ($645 billion) in 1,134-day loans today, the most ever in a […]

    / Dec 21, 2011 at 9:33 AM
  • Write-Offs

    Write-Offs: 12.20.11

    $$$ Fed Proposes New Capital Rules for Banks [NYT] $$$ Strong take-up of ECB loans expected [FT] $$$ Ex-NFL Player Willie Gault Charged in Stock Scam [WSJ] $$$ David Einhorn on GMCR: “Simply saying that you take allegations with misconduct seriously does not mean that you actually take the allegations of misconduct seriously.” [Reuters] $$$ […]

    / Dec 20, 2011 at 6:14 PM
  • News

    Life Choices For $500. The Answer Is: “You Will Be A Worse Person If You Do It”

    As you may have heard, several weeks ago a fed up Harvard Crimson staff ran an impassioned editorial urging Occupy Wall Street protesters on campus to leave Goldman Sachs, and those hoping to gain employment with the firm, alone. The last straw had been a group of Occupy Harvard supporters who “attempted to disrupt a […]

    / Dec 20, 2011 at 5:20 PM
  • News

    Pre-IPO Investors Are Not Supposed To Lose Money. Fix That, Morgan Stanley.

    Two things that I have thought before and occasionally committed to these pages are: (1) conflicts of interest at investment banks are actually sort of interesting and potentially value creative and not to be dismissed with knee-jerk “ooh conflicts evil,” and (2) it just cannot be that hard to execute basic common stock capital markets […]

    / Dec 20, 2011 at 3:49 PM
  • News

    People Who “Coined” Operation “Perfect Hedge” Don’t Know What “Coined,” “Hedge” Mean

    “We coined this investigation ‘Perfect Hedge’ because if you’re armed with that insider’s information, you can initiate the perfect hedge,” FBI agent David Chaves said in an interview of the largest hedge fund investigation ever. “You’re always protected — the upside and the down side.” [Bloomberg]

    / Dec 20, 2011 at 3:34 PM

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