Write-Offs: 11.06.12

$$$ “UBS AG, Switzerland’s biggest bank, fired its head of credit-default swaps index trading, David Gallers, last week, with no plan to fill the position, according to two people familiar with the matter. Instead, the bank replaced Gallers with computer algorithms that trade using mathematical models.” [Bloomberg]

$$$ Morgan Stanley should not boost bond trading: analyst [Reuters]

$$$ Sheila Bair has a crazy plan for Congressional pay-for-performance [Fortune]

$$$ Goldman Research Implies Big Obama Electoral Win [Deal Journal]

$$$ “One of the most striking differences between U.S. presidents is how they choose to stock the White House bar.” [TMN via The Hairpin]

$$$ A premium bank is looking for an analyst or associate candidate for the Corporate Strategies group within the investment banking division in New York[DBCC]

$$$ Recycled legal claims make banks look like victims [Breakingviews]

$$$ Citigroup Discloses Libor Inquiry in Singapore [WSJ]

$$$ “Some genius paired 50 Cent’s In Da Club with a video put out by the Jehovah’s Witnesses to encourage deaf people not to masturbate” [Kottke]

$$$ Defendant In Murder Trial Who Wanted To Get Back To His Cell In Time For Monday Night Football: “I Did it, So What?” [Deadspin]

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Comments (11)

  1. Posted by P | November 6, 2012 at 6:36 PM

    Majorly incorrect URL on that third one.

  2. Posted by P | November 6, 2012 at 6:38 PM

    And fifth. And ninth. And tenth. Are you guys drunk?

  3. Posted by guest | November 6, 2012 at 6:46 PM

    It's marg o'clock somehwere!

  4. Posted by D Gartman | November 6, 2012 at 7:47 PM

    I predicted this would happen.

  5. Posted by Clark G | November 6, 2012 at 8:56 PM

    Obama did it!

  6. Posted by Hair Helmet | November 6, 2012 at 11:04 PM

    America is now a super country again!!

  7. Posted by GS Research Dept | November 7, 2012 at 12:03 AM

    I'm sure he'll be glad we were pulling for him all along and we'll all get along great now!

  8. Posted by S.T.A.R. | November 7, 2012 at 8:06 AM

    UBS algorithms suck.

  9. Posted by Dateraider | November 7, 2012 at 9:00 AM
  10. Posted by VonSloneker | November 7, 2012 at 9:19 AM

    Anyone whose psyche is so precariously balanced that it can be upset by a dram or two, is not someone you want to rely upon to get things done. Never trust big things to a man that doesn't drink.

    - The Ghost of Vonsloneker's grandfather

  11. Posted by Mittens Bromney | November 7, 2012 at 9:39 AM

    Well, after last night's shellacking I've decided there might be something to this fire-water. I'll be posted up at Richard Kimball's place where we'll be enjoying retirement with a few select friends until further notice. Also, to whoever sent numerous letters to the campaign begging if I'd have an O'Doul's with them, sure, whoever "LaxBro" is.