Barclays Cheaper Than Peers Fuels Breakup Talk (Bloomberg)
The break-up discussion will be one of the first issues facing new chairman David Walker, who will succeed Marcus Agius as chairman of Barclays on Nov. 1. Walker said in an interview with the Telegraph newspaper that “my view is that this should continue to be a universal bank,” according to the Aug. 11 article. Agius has also defended the so-called universal banking model, which combines consumer lending with corporate and investment banking.
Paul Ryan And What Wall Street Should Know (Dealbook)
While Mr. Ryan may appear to be a friend of business, he doesn’t agree with the industry’s biggest talking point these days, the Simpson-Bowles deficit reduction plan. He was a member of the commission and voted it down, arguing that it did not go far enough in overhauling health care entitlements. He later criticized President Obama for not supporting it. That prompted Gene Sperling, director of the National Economic Council under President Obama, to retort on CNN: “Paul Ryan, talking about walking away from a balanced plan like Bowles-Simpson is, I don’t know, somewhere between laughable and a new definition for chutzpah.”
Greece Completes Largest Debt Sale In Two Years (WSJ)
Give it up for Greece, everyone: “The Greek Public Debt Management Agency said it sold €4.063 billion ($5.01 billion) of 13-week treasury bills at an auction, which included a 30% noncompetitive tranche. The uniform yield was 4.43%. Most of the funds will go to repay €3.1 billion in bonds held by the ECB that mature Aug. 20. That will ensure that the country avoids a default that would make it impossible for Greek banks to continue borrowing from the ECB, on which they currently depend for their survival.”
Wilbur Ross: Just Let Greece Go, It’s Fine (CNBC)
“I’ve been in favor of Greece going out, frankly both from the Greek point of view and the EU point of view,” Ross said. “I think there are enough firewalls being built up, particularly now that (European Central Bank chief) Mario Draghi is acting like the lender of last resort, that I don’t think it would be that traumatic anymore. Most of the indebtedness of Greece is official debt, no longer private debt, so you don’t have the domino problem.”
Crocs co-founder George Boedecker blames ‘girlfriend’ Taylor Swift following arrest for drunk driving in Colorado (NYDN)
A witness called Boulder authorities early Saturday evening after seeing Crocs co-founder George Boedecker passed out at the wheel of a Porsche with the engine running, according to the Denver Post. Boedecker was busted on suspicion of driving under the influence and is free on $500 bond. When confronted by cops, the 51-year-old Boedecker said that it was actually the 22-year-old Swift who was driving the car, according to a police report obtained by The Smoking Gun and the Denver Post. According to the report, Boedecker said that his “girlfriend” left the vehicle after they got into a fight. When asked who his girlfriend was, Boedecker told the officer she was a “really (expletive) famous” singer, then asked the officer if he knew who Taylor Swift was. When the officer asked Boedecker where Swift was, Boedecker gestured toward a nearby yard, and “said she was in Nashville,” according to the police report. He also described his girlfriend as “bats— crazy.” Authorities could not find anyone in the area, and Swift is currently dating Robert F. Kennedy Jr.’s 18-year-old son, Conor. Boedecker reeked of booze and was uncooperative with cops, saying “I’m not doing your f—— maneuvers” when asked to take a sobriety test. When asked for his address, Boedecker replied, “I have 17 (expletive) homes,” and also told the cops he would have their badges, according to the police report.
Knight $440 Million Loss Sealed By New Rules On Canceling Trades (Bloomberg)
Knight, whose market-making unit executes 10 percent of U.S. equity volume, lost $440 million on Aug. 1 and its stock has plunged 73 percent after a computer malfunction bombarded the market with unintended orders that exchanges declined to cancel. A decade ago, the firm suffered almost no consequences in a similar breakdown when officials agreed to void trades after Knight mistakenly sold 1 million of its own shares.
Peregrine CEO Is Indicted (WSJ)
The chief executive of Peregrine Financial Group Inc. was indicted Monday on 31 charges of lying to government regulators regarding the failed brokerage’s operations. Russell Wasendorf Sr. faces a maximum sentence of 155 years’ imprisonment on the charges and fines of about $7.75 million, according to a statement from the U.S. Attorney’s Office for the Northern District of Iowa.
Hedge Funds Have $74 Billion As Europe Fire Sale Delayed (Bloomberg)
Apollo Global Management, Oaktree Capital Group, Avenue Capital Group, and Davidson Kempner Capital Management are among U.S. firms that have flocked to Europe, setting up offices and raising funds to benefit from the most severe period of distress in the region. The money raised for distressed-debt funds gives the firms about 100 billion euros to spend on deals including leverage, according to PricewaterhouseCoopers LLP.
Facebook Shares Unlocking (WSJ)
An avalanche of privately held Facebook shares could begin hitting the market this week—potentially putting further pressure on the company’s stock—as rules expire that have kept some early investors from cashing out.
Record 17-foot python caught in Everglades (Herald Tribune)
Scientists say they’ve caught the biggest Burmese python ever recorded in Florida. The python weighed in at 164½ pounds and measured 17 feet, 7 inches long. It was pregnant with 87 eggs. The snakes are native to Southeast Asia but have established a population of tens of thousands in the Everglades, where the latest find was recorded Friday. It was euthanized and is being studied at the Florida Museum of Natural History.
Team Edward!!!!!!!!!!!!!
Dey got snakes out ther dis big?!?!!?!?
87 eggs? That's nothing.
- L. Tilton
Just sitting there sleeping in the car? Pussy.
shut the fuck up
George – maybe you and Taylor can do a double date with me and Cary Rae Jepsen???
"Knight $440 Million Loss Sealed By New Rules On Canceling Trades"
"..the firm suffered almost no consequences in a similar breakdown when officials agreed to void trades after Knight mistakenly sold 1 million of its own shares."
It would appear we have some decent competition.
- UBS "UBS Sucks" MD
You spelled "there" wrong.
- Knight Spelling Quant
He says Taylor Swift is his girlfriend? What a Croc!
-Guy who just had to do that
Having 17 homes and an imaginary GF = NKI
i want these 87 moterfucking snakes out of my motherfucking belly.
-leanne the floridian python
Hard enough to look straight, let alone walk straight in crocs…
When's the biased media gunna start calling Mitt Romney by his 1st name! Willard! I can't see myself having no president named Willard! Nope it ain't right. Used to be you graduated high school and could get a decent middle class job pushing a broom at a factory! But guess what? All the brooms went over seas! People gotta start reading labels like me and you'll see all the crap is made in Asia! What's the point in voting if the illuminati has already bought and sold the election??!!? I'm calling my local news station and I'm gunna have them post my tax returns for the past 10 years! Why can't Romney release his, I'm putting pressure on him you see? People gotta get some smarts! Damnit GM laid me off!!!!!
17' foot python? Not impressed.
- J. Falcon
We don't always test our trading strategies, but we when do, we do it in production.
– Knight Capital Group, The Most Interesting Market Maker in the World
L. Tilton jokes stopped being witty many retards ago
This is why are on at night
I am gonna say they were never that great
"I'm not doing your f—— maneuvers"
-G. Soros, wedding vows
there is a trade there
Get off my lawn.
Descriped as "bats –crazy"
-Amen!
Signed,
Joe Jonas, Taylor Lautner, John Mayer, Jake Gyllenhaal, Bess Levin
What a Pot.
- Cockney rhymer
There is nothing wrong with sleeping in your car while it is still running.
- Tony LaRussa
guess what? Half time is over. We are in the third quarter now America, and we are way behind.
- SNL
The perp confessed to co-founding Crocs. That alone would merit 50 lashes in my country.
- Saudi ExIm Bank flogging quant
SNL < Mad TV
~ Fox Broadcasting Company
- Mckayla Maroney*
Fixed it for you
So, you remembered that guy's name or you searched for 'longest penis.' Either way you lose.
I have had it with these motherfucking snakes in these motherfucking glades!
- Gianna Michaels**
Fixed it for you
About 58 minutes late
How the fawk did you get a pic of my CLOSET!
M. Batali
If you like pushing brooms so much I know a naked Indian who could use some help
Karma.
UBS Fashion Quant
About 54 minutes late
doesn't that mean you did too
English, motherfucker, do you speak it?
- Samuel L Jackson
Get lost, you maggot.
C. Beeks
Beef jerky time!
Agreed.
-Government of Singapore Investment Authority
Used to use 'em like sandbags…
*Gasping crowd
how'd we miss this photo ? http://www.flickr.com/photos/skylargolf/163785430…
Players gonna play, haters gonna hate.
From Bloomberg: "Knight Capital Group Inc. (KCG)’s $440 million trading loss stemmed from an old set of computer software that was inadvertently reactivated when a new program was installed, according to two people briefed on the matter. Once triggered on Aug. 1, the dormant system started multiplying stock trades by one thousand
Yes, Yes, a thousand times yes.
UBS Trading Desk
from bloomberg via Zerohedge
From Bloomberg:
The historic population of america scares the shit out of me…
fixed it for ya****
- fareed zakaria citation and fact check quant
No thank you son, it give me the wind something fierce.
Seconded.
I think Willard is a very presidential name. Harumph to you sir…
- The Ghost of Millard Fillmore
Willard and Ben are busy planning the final ZOlution…….Guy who grew up in the 70's
Where is the guy who sung that theme to Ben now?
I'd sit and drink on my own lawn but GM laid me off! You Mitsubishi driving finger painter.
Tonight?
-JT Marlin JerzeyShore Quant
Government Of Singapore Investment Corporation. Other than that no concerns.