Bess Levin

Posts by Bess Levin

Bankers may yet face federal prosecution for their roles in the 2008 financial crisis, U.S. Attorney General Eric Holder said today. “We have ongoing investigations that may perhaps produce individual prosecutions,” Holder said, defending the Justice Department’s handling of probes that have resulted in large financial settlements but few criminal prosecutions. [Bloomberg]

What makeover show in hell?

What makeover show in hell?

Remember Aubrey Lee Price? Georgian banker who screwed investors out of millions, faked his own death, was on the lam for about 18 months, during which time he set up a grow house in Florida and transformed his look from southern banker to the love child of James Lipton and Dave Navarro? Got caught when some local cops pulled him over for having illegally tinted windows? Today he was sentenced to 30 years in prison and will also be ordered to pay approximately $46 million in restitution. How will he come up with the cash? Oh, he’s got a plan. Read more »

  • 29 Oct 2014 at 12:53 PM

Bonus Watch ’14: US Bankers

…are feeling pretty good about their odds this year. Read more »

bill grossMay 2014: “…during a meeting of about 20 Pimco executives at the firm’s investment committee, Mr. Gross halted Jeremie Banet, a French-born executive vice president and portfolio manager, while he was sharing his views. “I never understand what you’re saying,” Mr. Gross said, according to people in the room. “Ever.” A day after the exchange, Mr. Banet announced his resignation and said he planned to operate a food truck selling croque-monsieur sandwiches in Los Angeles. In an email, Mr. Banet said there was no connection between the meeting and his departure from Pimco. He said he has “enormous respect and admiration for Bill Gross.” September 2014: “Bill Gross is joining Janus Capital Group, effective September 29.” October 2014: “PIMCO has hired Jeremie Banet, who previously worked for the firm and will return as an Executive Vice President and Portfolio Manager for real return strategies, including Treasury Inflation Protected Securities (TIPS).” [WSJ, CNBC, Pimco via Matt]

kim kardashianThe 34-year-old reality television star shared her love for the Canadian gadget at a conference Monday night hosted by technology website Re/code. “A BlackBerry, it’s my heart and soul. I love it. I’ll never get rid of it,” Kardashian said. “I do have an iPhone – I use that for photos – but if you have to handle an e-mail and you have to type fast I need to feel that board,” she said, referring to BlackBerry’s trademark keyboard…Kardashian said she stocks three BlackBerry Bolds at all times, just in case one breaks. “I have anxiety that I will run out and I won’t have a BlackBerry. “I’m afraid it’ll go extinct,” she said. “I’m on a mission to make that not happen.” [Globe And Mail]

deutsche-bankDeutsche Bank AG , which has struggled to overcome investor concerns about its financial strength, is replacing its longtime finance chief with a Goldman Sachs Group Inc. partner, according to people familiar with the matter. Stefan Krause , who has faced criticism from investors over his financial leadership of the giant German bank, will take a newly created position within Deutsche Bank, with responsibilities including strategy, cost-cutting and other issues, the people said. His replacement, Marcus Schenck, was the finance chief of German utility E.ON AG from 2006 through 2013. He joined Goldman Sachs last year. [WSJ]

Sage KellyHis estranged wife also claims in a court filing that he held a one-man scavenger hunt for said shrooms. Read more »

Bill AckmanIf this hedge fund manager thing doesn’t work out, he’s got a plan B. Also a C, which is star in the first season of HGTV’s, Flip or Flop: Billionaire Edition. It’s pretty obvious Ackman could sell the hell out of a 4 bed, 3.5 bath tudor style house featuring a “spacious open concept living/dining/kitchen area, finished basement and luxurious master suite.” Read more »