Spain eyes pension reform with aid package in sight (Reuters)
Spain is considering freezing pensions and speeding up a planned rise in the retirement age as it races to cut spending and meet conditions of an expected international sovereign aid package, sources with knowledge of the matter said. The measures would save at least 4 billion euros a year as well as fulfil European Union policy recommendations issued in May which senior euro zone sources said were being used as a blueprint for the terms of a sovereign aid program.
Banker Breakups May Help Spur U.K. Divorce Law Changes (Bloomberg)
The review of U.K. divorce law was triggered in part by the case of German heiress Katrin Radmacher and ex-JPMorgan investment banker Nicolas Granatino, lawyers said. In October 2010, the U.K. Supreme Court ruled for the first time that a U.S.-style pre-nuptial agreement on asset-division, reached before marriage, should be decisive. In London, it’s common for big divorce payouts to go to partners with less money even if that spouse is relatively young, the relationship was brief and there aren’t children, Gallagher’s lawyer, Katie O’Callaghan, said. “People actively try to get divorced in this country because if they are the financially weak party, they can expect a bigger payment,” said O’Callaghan.
Paulson and Co Victimized By Copycat Fraudsters (Forbes)
Starting around December 2010 through November 2011, the John and Jeffrey Fowler solicit investors to wire funds into bank accounts they controlled for investment in a purported gold futures investment program. And not just any gold futures program but one supposedly run by Paulson & Co. Inc. Being imbued with the American spirit of entrepreneurship and innovation, the Fowlers created a Florida corporation: Paulson & Co. Inc. (“Paulson-Florida”), through which office space was leased and corporate bank accounts opened. If you didn’t know any better, you might have thought that this Paulson-Florida was one and the same as the real Paulson &Co.Inc. Which of course, appears to have been the Fowlers’ plan. Certainly, it was not John Paulson’s.
Porsche, Daimler Indicate Europe’s Car Crisis Spreading (Bloomberg)
“If a downturn lasts for longer, which this one is, premium is not immune from pricing trends,” said Arndt Ellinghorst, a London-based analyst at Credit Suisse Group AG with an outperform recommendation on BMW, Porsche and VW, and a neutral on Daimler. “The pricing environment in Europe is the biggest problem,” with incentives spreading from Italy, Spain and France to Germany.
Ray Dalio: Big Fan Of Gold (CNBC)
Dalio: I think gold should be a part of– everybody’s portfolio to some degree because– it diversifies the portfolio. It is the alternative money. We have a situation now where– when you have too much debt– too much debt leads to printing of money to make it easier to service. So all of those things mean that some portion– should be in– in gold. Andrew Ross Sorkin: Warren Buffett won’t touch gold. Dalio: Okay. Yeah. ARS: You think he’s wrong? Or clearly you must. Dalio: I think he’s making a big mistake, yeah. Gold is my cash. It’s an alternative version of cash. So over the long term, it’s not the best investment. Over long term, it’s– you know, a little bit better than cash over long term.
Cain says he’d be leading Obama if he were nominee (TGS via DI)
Cain told members of the media after the speech that Republican presidential nominee Mitt Romney’s recent “47 percent” comment was a “non-story” being blown out of proportion by the media. But Cain said he would have been doing better if he was the nominee, saying that he’d probably have a “substantial lead” on President Barack Obama at this point. “The reason is quite simple: I have some depth to my ideas,” he said.
US Seeks To Patch Laundering Net (WSJ)
U.S. regulators are proposing to enlist companies across the financial sector—and possibly beyond—as a front-line defense against money laundering. A sweeping proposal by the U.S. Treasury Department’s Financial Crimes Enforcement Network, known as FinCen, could require financial institutions to collect and verify information on all customer accounts. If adopted, the new rules would create a broad new compliance structure that banks and others say would increase costs and add to complexity for the firms and their customers.
Senate JPMorgan Probe Said to Seek Tougher Volcker Rule (Bloomberg)
Staff members of the Permanent Subcommittee on Investigations, headed by Senator Carl Levin, have interviewed JPMorgan officials as well as examiners and supervisors at the institution’s regulator, the Office of the Comptroller of the Currency, said the people, who spoke on condition of anonymity because the inquiry isn’t public. One focus of the queries is whether JPMorgan’s wrong-way bets on derivatives would have been permitted under regulators’ initial draft of the Volcker ban on proprietary trading, the people said.
Exchanges Catch Heat On Hill Over High Speed Trading (WSJ)
Sens. Jack Reed (D., R.I.) and Mike Crapo (R., Idaho) and several witnesses at the Senate Banking subcommittee hearing took aim at the complex technological tools developed and sold by exchanges to lure the high-speed traders that dominate the stock market and drive exchange profits.
Greek Bailout Fight Looms (WSJ)
All sides, including Athens, are determined to keep Greece in the euro, officials say—they just don’t know how yet. The trio must agree to a plan by November at the latest, when the government in Athens—already in financial arrears—could run out of money altogether.
Correction officers at Rikers having ‘rampant’ sex on and off job: lawsuit (NYDN)
Correction officers are turning city jails into their personal playpens, engaging in “rampant” sex both on and off the job, an explosive lawsuit claims. Correction Officer Tomara Bryan charges that male guards face no repercussions for bedding their counterparts — but the frisky females become targets of abuse. Bryan should know. She was one of them, the suit says. Bryan had a stormy two-year affair with a married warden named Emmanuel Bailey — and even had his last name tattooed across her lower back. In the discrimination suit filed in Bronx Supreme Court, Bryan claims that after their kinky relationship came to light she was verbally and physically abused by female supervisors, forced to take a “bogus” random drug test and given dangerous assignments.
Hey Pizza Guy, don't blame us for being sour.
Herman Cain wears Bonobos too.
Agreed; Herman Cain would have been a better Republican nominee than Romney.
-UBS Electoral College Quant
Bonobos knows Rikers.
Great, now there is two of them
Corrections officer? Sounds like a new page to the playbook.
The Fowlers were acquitted after it was discovered that the Paulson-Florida checking account investment outperformed Advantage by a cumulative 60%
Scottish common law says that we have the option to shrink President Clinton to the size of a field mouse and then force him to fight spiders for our amusement. Are we going to do this? Probably. All I'm saying, Strom Thurmond has a shrinking ray.
999 is much deeper than slash slash slash
Wait so are they eyeing pension reform or keeping the aid package in sight?
-UBS Optometry Quant
He's a bit too black.
-Guy who has spent the last ~4yrs faping to the fact he voted for a colored person
Just between us girls, nothin' gets my vadge wetter than a black man singing
fapping? do it properly, bro
- Jeff G.
Voting for Obama made me feel good about myself and I was always taught that my self esteem is the most important thing.
-Zoe State U class of 2013
At this point I would rather see pictures of the probably hideously overweight and trashy female Rikers prison guards than look at another Bonobos ad.
Hey, wanna go see my co-located server?
–Guy who knows how to lure high speed traders
Those two things aren't mutually exclusive you know.
-Bonobos Marketing VP / law school dropout who realizes the 8th amendment prohibition on cruel and unusual punishment doesn't apply without state action + has a couple bucks left in his budget this quarter + is a really, really, really disturbed individual.
Rikers is the new Minetta's.
Not Proven
-Arlen Specter
memory lane ?
Hey !
3-d chess sets and really weird japanese porn work, too.
Matt, there are better ways to tell me what you want for Chanukah this year, and I'm not buying you that second thing.
Similarly, the IRS was pleasantly surprised when Harbinger – Florida used supposedly gated client funds to pay its tax bill – that never really existed!
I'm worried about Rick Santelli. Dude needs to chill…
- Guy who wants Steve Liesman shut down until the end of time
Meet me in Cell C, Block Q in the broom closet. Tattoo my name and likeness on your back so that I know it's you.
Rikers, you say? Hmmmmm. My Xmas card list just got a LOT bigger if you know what I'm saying. And I think you do.
Fast food.
–Nomura DB Leitmotif Detector Quant
That Herman Cain picture is on point.
I count six. I'm drunk though.
Not really, but we sure miss the food trucks to battery park from last year on release date
-recidivist rikers guy
Think of our ideas like pizza, Romney's are more thin crust while I'm a deep-dish crust idea kind of guy
- Herman
Why does everyone keep coming up to me, yelling FRESH FISH, and then sticking their dick in my ear?
-Dennis Kneale
The glasses say "I'm a relatively serious intellectual"
but the smiles says " I love to ride white bitches Gangnam style!"
corrections officer not-your-husband
WTF…why is that cracker reading Jet Magazine Online?
- Guy walking past your desk seeing your monitor filled with Herman Cain and Bonobo ads
Is the Bonobos guy Herman Cain's Son?
Nein, nein, nein, now please, examine your motives.
I've often pondered how Bess & Matt (or the rest of the DB team?) came up with the opening bell pic.
I just decided that whoever chose today's pic, did it just to torture us.
Then why did you always want me to "rough you up a little " ?
joke briefer ?
Que? He looks so regal in that pic.
There have 2-d chess sets now?!
Well Caleb, maybe I needed a change of pace after pegging you for an hour?
-Zoe
Really just couldn't resist here huh Bess
met him ?
personable guy , maybe now hes bigtime
ALWAYS out in the CBOE plaza hacking a but.
about 5'1, no bs
ran a desk at pru bach is mostly what he was associated with on the floor in chi
What do you mean "them"?
Sounds like my desktop background.
-SEC Lawyer
Its rampant at NYC kennels too
Under the Articles of Confederation, we may have the authority to take President Clinton to a deserted island and hunt him for sport. If he survives, he's acquitted. If we bag him, we get to cook him in a large pot and eat him. Now. I'm not saying we're going to do this. I'm just saying, Strom Thurmond has an island.
I guess 18-24yr demo also doesn't understand racism… or is just oblivious to racist terms so engrained in his lexicon that he still uses phrases like 'colored person'. btw – racism is DEF NOT the NKI.
Using the term colored person instead of person of color is not racism.
Making a big deal about it is evidence of Marxist PC brainwashing.
Pinterest.com is that way =======>
I WAS IN THE POOL!