Bess Levin

Posts by Bess Levin

Two independent directors on the board that oversees HSBC’s British business may leave the bank over stricter rules aimed at holding bankers more accountable for reckless actions that may lead to the failure of a lender, according to a person with direct knowledge of the matter. Alan Thomson, a member of the audit and risk committees at HSBC Bank, has tendered his resignation and will leave the bank later this month, said the person, who was not authorized to discuss the matter publicly. John Trueman, deputy chairman of the bank’s British business, is also considering whether to leave over the new rules. [Dealbook]


[@DavidSchawel via @matt_levine]

Q: You have also received criticism from some on the left– including writer Matt Taibbi and Wall Street documentarian Charles Ferguson– who say that while you’ve convicted insider traders, you’ve missed the big guys who committed the mortgage fraud that led to the financial crisis. How do you respond do that? A: I would suggest that some of these critics go to law school and apply themselves and become prosecutors and make the case that they think we should be making. This is by reputation and track record the most aggressive office in white-collar crime in the country ever, and if we’re not bringing a certain kind of case, it’s because the evidence is not there. Pure and simple. [Worth]

  • 07 Oct 2014 at 12:42 PM

Is Tim Geithner Having The Best Week Ever?

Judging by this photo taken of him yesterday on his way to testify in the AIG case, we’re going to go with yes. But what specifically was the cause of that 5 mile long grin? Was it: Read more »

Frank Perkins Hixon Jr, who violated securities laws in the name of love (or something), has begun his sentence. Read more »

  • 06 Oct 2014 at 6:22 PM

Charlie Gasparino Has Sources In Every Dressing Room

This is Fox Business’s Senior Women’s Clothing Store Correspondent, reporting live: Read more »

  • 06 Oct 2014 at 5:31 PM

Here’s A Thing Bill Gross Said

“I’m in it to whip the pants off anybody competing on the same football field.” [InvestmentNews]

Billionaire Steven A. Cohen is reorganizing the equities business of his Point72 Asset Management investment firm into seven units to improve accountability. The seven units, organized along industry and geography lines, will each be run by a sector executive, according to a memo sent to employees today from Point72 President Douglas Haynes. The executives will supervise all money managers within their unit and be assisted by a sector executive officer overseeing the group’s analysts, the memo said. Each unit will have officers overseeing compliance, risk and research. The changes are effective immediately. [Bloomberg]