Also, “Lloyd’s done a much better job than some of the publicity [would indicate].” Corzine’s one suggestion: “speak a little less.”
Posts by Yaël Bizouati
In a recent interview, Pay Czar Kenneth Feinberg finally strayed from his usually scripted remarks, getting really worked up about a certain person, who he won’t name, but is among those who “really do believe they are entitled to $9 million, [which] is a problem.” But what really got to Kenny, is that this $9 million -unnamed- person had the (nuclear) balls to ask him what was up with all the bonus backlash and why people were so mad at him. “Why don’t you like me?” that anonymous “bigwig” asked him.
Feinberg also opened up about his relationship with Timmy G., to whom apparently one can’t say “no”(“You try”). Also, he’s not a fan of AIG people who are just greedy b&*@#$.
Donald Trump is dueling it up with activist investor Carl Icahn over Atlantic City’s Trump Entertainment Resorts. Specifically, the two are fighting for ownership of the property, which Trump does not currently own. Don’s argument is that the casinos “would be hurt if Icahn won because it would take the Trump name off them.”
Congratulations Alan Greenspan! The former fed chair, who people are hoping will die soon, has won the Dynamite Prize in Economics, which is basically what the Razzie Awards are to the Oscars. Greenspan was awarded the honor as the economist most responsible for blowing up the global economy.
You can’t take the pressure at your job, you’re tired of getting kicked in the nuts and blamed for everything’s that’s wrong in the world. You need some lovin’ and can’t seem to get it anywhere. You”re completely burned out. Where to turn? If you’re Fritz Henderson, you go crawling back from whence you came. Only this time, you play hard ball, and you do it on your terms. That’s how the former GM CEO, who resigned in December after eight months on the job, is doing it. He’s back, baby, but now as a “consultant” for GM, in a gig that pays about $59,000 per month, for 20 hours- or about $3000 an hour.
CNBC’s Becky Quick is going to Omaha next week to have a little chat with Warrren Buffett over Oreo Blizzards and cherry Cokes, in anticipation of the Oracle’s annual letter to Berkshire Hathaway shareholders. And she’s going to be asking him your questions. Anything you’d like to hear more about from WB?
The Volcker Rule -aka the euthanasia principle- got some fresh backers over the weekend, with five former Treasury secretaries sending a letter to the WSJ to voice their support. While this must be good news (late wedding gift?) for Paul, the former secretaries don’t add much to the initial argument. They’re just reiterating what Paul’s been saying from the start: This is just one component of a much broader picture, banks should not engage in speculative activity unrelated to essential bank services, prop trading is a bad, bad, thing. Right. Doesn’t do much to convince the haters.
In other news, today is National Margarita Day.
After months of back and forth, Judge Jed Rakoff finally half-assedly approved the $150 million BofA settlement today. But Jed, who seems to be having a hard time letting go of his newfangled celebrity, didn’t want to go down without panache and poetic prose.
“Given the somewhat tortured background of these cases and the difficulties the motion presents, the Court is tempted to quote the great American philosopher Yogi Berra: “I wish I had an answer to that because I’m getting tired of answering that question.”‘
You probably think you know Paul Krugman, Nobel Prize winner and NYT columnist extraordinaire. But after reading the New Yorker‘s profile on the bearded columnist, you’ll realize you had no idea. He’s so much more than that. He’s just a simple guy, who relaxes by getting costumed, throwing voodoo parties and relaxing in St. Croix with his wife, mostly on the west end, “where the whites who’ve gone native live.” There, Paul can wear the same shirt for days, (a short-sleeved plaid cotton shirt) and bathing trunks. In the late afternoon he sips piña coladas on the beach and bitches about Jamie and LB, wondering how they can be “so comprehensively boneheaded.”
Elitzabeth Warren, the chair of the Congressional Oversight Panel for TARP, believes that the problems couldn’t be more obvious and solutions for financial regulation are as obvious but for some reason, “we can’t seem to put the two together.”
“Six months ago, I thought we were on brink of financial reform, I really did,” Liz told Bill Maher. “The reason we’re not changing things right now is that banks have lobbies in Washington in numbers I’ve never seen. They’re coming not just once a month, once a week or even once a day. These guys are coming two, three times a day. And they just keep slamming in the same direction over and over and over. It’s a David and Goliath story.”