When we last checked in with Erin Callan, post-Lehman life was going pretty well for the retired CFO. It included living in East Hampton in the house she bought for $3.9 million in 2005, dating firefighter Anthony Montella, who she met in high school at St. Francis Prep, taking spin classes at Ride the Zone, where her instructor said she’s “the best student in the class” and just generally looking happy and “better than ever,” likely a result of 1) getting laid on the reg and 2) the fact that she’s been working on her ass, an effort that has apparently not gone unappreciated. While it’s been forever since we heard from Dick Fuld’s former gal-pal, she apparently had a pretty good excuse for not keeping in touch– girlfriend was busy planning her wedding! The nuptials took place in November at 620 Loft and Garden at Rockefeller Center and included white calla lilies and Callan’s dogs. Left off the guest list? Not a problem- Dealbook has “reviewed” photos posted online by the event’s photographers and will make you feel like you were right there. Continue reading »
Lehman Brothers
George Soros: European Crisis Will Make Dick Fuld’s Recurring Nightmare Look Like Child’s Play
By Bess Levin
“This crisis has the potential to be a lot worse than Lehman Brothers,” said George Soros, the hedge fund investor, citing the lack of an authoritative pan-European body to handle a banking crisis of this severity. “That is why the problem is so serious. You need a crisis to create the political will for Europe to create such an authority, but there is still no understanding as to what the authority will do.” [NYT]
While today’s Lehman lawsuit ruling is of most interest to those directly involved (Dick Fuld, Erin Callan, certain firefighters, UBS, Ernst & Young), it also contains a little item that may interest those involved in the structured notes business.
Continue reading »
It could also be interpreted as the greatest veiled threat since Angelo Mozilo said Bank of America “will reap the benefits of what [Countrywide] has sowed.” Continue reading »
Securities And Exchange Commission Can’t Find Any Grounds On Which To Sue Former Lehman Brothers Execs, May Release A Strongly Worded Letter Of Disappointment Instead
By Bess Levin
Remember Lehman Brothers? Bank that went under in 2008? Had some maybe questionable business going on with its balance sheet? The SEC has been trying its darndest for a while now to prove the company and its senior staff, led by a guy named Dick, violated securities laws but in over two years have come up with nothing and are pretty tuckered out. The Commission knows some people will be pretty ticked off if no lawsuits are ever brought against Richard Fuld and his backup dancers, which is why they’ve come up with an alternative that they think is nearly as good. No civil actions but instead- tell them what you think of this- Lehman Brothers is publicly rebuked? That’ll send a message, eh? Continue reading »
It would be a “moral disaster” if the United States were to default on its debts and become unable to pay its obligations, Jamie Dimon said at an appearance in Colorado Thursday evening. The U.S. is the financial linchpin of the world, and the economic effects of the U.S. defaulting could be “potentially catastrophic,” he said at a dinner for the University of Colorado Denver Business School. “It will dwarf Lehman,” Dimon said. [HP]
Poll: Has Jamie Dimon Emerged From The Crisis As A Winner Because He’s Easy On The Eyes?
By Bess Levin
Serious question- has James Dimon, he of JPMorgan, come out looking better than some other Wall Street CEO’s because of a nice face, “fluffy white, unbankerish hair” and an ass you could bounce a quarter off of? Alternatively, has Dick Fuld become something of a villain not because of that business with Lehman Brothers’ balance sheet, per se, but because he’s got a mug that will haunt your dreams? Both are theories currently being floated. Continue reading »
Sayeth Chaz: Continue reading »
According to Charlie Gasparino, who’s been tailing him. Continue reading »
Last March, we got a glimpse into Erin Callan’s post-Lehman life. It included living in East Hampton in the house she bought for $3.9 million in 2005, dating firefighter Anthony Montella, who she met in high school at St. Francis Prep, taking spin classes at Ride the Zone, where her instructor said she’s “the best student in the class” and looks “so great on her bike,” and just generally looking happy and “better than ever,” likely a result of 1) getting laid on the reg and 2) the fact that she’s been working on her ass, an effort that has apparently not gone unappreciated.
What’s she been up to of late? A lot of the same, though things with The Firefighter seem to have been taken to the next level. John Carney did a little investigating and reports that Erin is featured in Tony’s Facebook and Twitter profile pictures (so huge!); it also appears as though they’ve moved in together. Montella, for some reason, posted pictures of the love nest they’ve been co-habitating in on the internet, including one of where the magic happens. Continue reading »
J.P. Morgan Chase fired back at Lehman Brothers Holdings Inc.’s attempt to dismiss a J.P. Morgan lawsuit against it, citing emails it says suggest Lehman knowingly misled J.P. Morgan into keeping “goat poo” securities that Lehman brokerage buyer Barclays Group PLC didn’t want. In a bankruptcy court filing made Thursday, J.P. Morgan says two Lehman employees “referred to both RACERS and another security called Fenway [commercial paper securities] as ‘goat poo’ to be scattered in ‘other people’s backyards.’” The J.P. Morgan suit is in response to a lawsuit Lehman filed in May, alleging that J.P. Morgan illegally siphoned billions of dollars from Lehman as it collapsed in September 2008. [Dow Jones]
