The Dish Network chief and Phil Falcone bête noire is not as big a fan of the TWC-Comcast marriage as John Paulson. But if it goes through, he’d just like to remind everyone that it would then be totally unfair not to let him have his way with DirecTV. Read more »
The Pershing Square chief thinks that Fairholme Capital and Perry Capital will win their lawsuits re: the government stealing Fannie Mae and Freddie Mac from their shareholders and directing every last cent of profit into Jack Lew’s slush fund. And he’s figured out how to make even more money from said victory than they will: It begins with not having to pay lawyers to sue the government and ends with common shares doing better than Fairholme and Perry’s preferred shares. Read more »
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Group AG Chief Executive Brady Dougan is scheduled to testify Wednesday at a U.S. Senate subcommittee hearing on offshore tax evasion, a move that comes as the Swiss bank seeks to settle allegations it helped Americans evade their obligations. According to a witness list made public on Monday, Robert Shafir and Hans-Ulrich Meister, who jointly run Credit Suisse’s private banking and wealth management division, as well as Romeo Cerutti, the bank’s general counsel, will join Mr. Dougan at the hearing. A separate panel will include Kathryn Keneally, U.S. assistant attorney general for the Justice Department’s tax division. The hearing will focus on “efforts to hold Swiss banks and their U.S. clients accountable for unpaid taxes on billions of dollars in hidden assets,” according to a press release from the U.S. Senate Permanent Subcommittee on Investigations, which is conducting the hearing. [WSJ]
Back in November, UBS worked out a prettay, prettay, prettay sweet deal for itself re: Libor manipulation. Like many another bank, UBS’s employees had their way with London Interbank Offered Rate. Unlike many other bank, which faced stiff penalties for doing so, the Swiss struck an immunity deal with the EU wherein it paid a relatively small fine and then, in exchange for cooperating with authorities and “turning over information about other banks,” found itself in the clear. Anyway, that worked out so well for UBS last time that it’s decided to take the same approach with a new rate-rigging investigation, and save itself a coupla bucks. Read more »
Located in the tropical paradise of the Mexican Riviera is the Hidden Beach Resort. At the striking gated entryway as you walk past duo statues of stone frogs (symbolizing cleansing, renewal and transformation) and through massive solid wood doors, a different kind of luxury awaits.
When you enter, it feels like a real-life Garden of Eden and Champagne is handed to you upon arrival, enhancing the welcoming atmosphere. For those that have never heard of Hidden Beach, it is an au naturel resort (clothing optional).
Hidden Beach Resort by Karisma Hotels is the only all-inclusive, luxury nudist resort in the Mexican Caribbean. The property is made up of 42 gorgeous beachside suites with perfectly manicured grounds decorated with luxurious sun beds, palapas, a gourmet restaurant, two bars, a disco, gym, giant hot tub and pools. Read more »
$$$ Fed Failed to See Lehman’s Fallout for Economy, Transcripts Show [Bloomberg]
$$$ Fannie Mae Payments to U.S. Will Exceed Bailout [Bloomberg]
$$$ With Ban on Ads Removed, Hedge Funds Test Waters [Dealbook]
$$$ “We’re creating a sort of thermometer for sex,” co-creator Tyler Elick, 29, told The Huffington Post. In addition to how long you’re lasting, Spreadsheets can keep track of thrusts per minute, audio levels, and frequency of sex. [HP] Read more »
Executing Insider Trades In An Account Set Up Under Baby Mama’s Name Not The Fool-Proof Plan Ex-Evercore Director Thought It’d BeBy Bess Levin
From 2010 to 2014, when he was working in Evercore’s mining and metals group, Frank Perkins Hixon Jr. occasionally found himself on the receiving end of material non-public information. Sometimes it was about forthcoming acquisitions. Sometimes it was about his own company’s earnings. In both cases, FPH Jr. knew he could sweeten things for himself by trading on the 411. Naturally, he didn’t want to get fired from Evercore for securities fraud, as it would put a damper on his ability to obtain inside info, so he couldn’t be too obvious. Placing the trades in an account under his own name was obviously out. Same went for anyone with whom he shared a last name, like his mom or dad. And that’s when the lightbulb went off: Read more »