When the Sanford Bernstein analyst closes his eyes, he pictures Lloyd and Co going out of their way to get on Carl Levin’s good side, possibly going so far as to praise his work. Read more »
If you’ve been keeping up with your HBO original programming schedule, you know that Too Big To Fail, the movie based on Andrew Ross Sorkin’s 2009 book, airs next Monday evening. Last night was the premiere at the Museum of Modern Art and while the trailers looked promising, in order to make sure none of you wasted any of your precious time or DVR space in the event it wasn’t worth it, I attended to see how things turned out and report back. Warren Buffett did the same, though was initially met with some opposition at the door, in an encounter that went like this:
Door girls: Do you have your ticket?
Door girls: You need your tickets.
Buffett: Oh, uh…we were invited..
[One of Buffett's dates]: This is Warren Buffett.
[The group is seated]
Other people in attendance who did have their tickets, included but were not limited to: George Soros (with a entourage of lady friends), Meredith Whitney in a white pinstriped suit, Becky Quick, Rodgin Cohen, Regis Philbin, Michael Douglas and all the actors from the flick (William Hurt, Paul Giamatti, Billy Crudup, James Woods, Bill Pullman, Evan Handler, Tony Shalhoub, Matthew Modine, Ed Asner), though not all the real life people they portray (Jamie Dimon was getting ready for today’s JPM shareholder meeting in Ohio, Fuld was probably busy plotting his comeback).
The movie condenses Sorkin’s 539 page book into about 90 minutes and traces the slightly tense moments that were 2008 just after Bear Stearns was bought to the day Paulson locked the top bank CEO’s in a room and and forced them to accept his capital injections. William Hurt does a pretty badass Hank– who gets the most screen time by far– having spent a few days fishing with him in preparation for the role (during which one would hope HP described what it was like threatening to send Ken Lewis home in a body bag if he backed out of the Merrill Lynch deal). I liked it, you probably will too.** Now let’s get down to the nitty gritty. Read more »
We have no idea but apparently he’s been spotted “cruising around the trading floor with a bunch of senior guys this afternoon, shaking hands, etc, with hair that looks like it hasn’t been cut in months.” Wild speculation encouraged at this time. Read more »
As you may have heard, Goldman Sachs will hold its annual shareholder meeting tomorrow. Unlike the past 12 years, in which the event has been held in New York, Friday’s meeting will go down in the Garden State. The bank has not explained the move, and while it does have a building across the river, one would hope you’re not falling for that. Read more »
“They’re totally freaked out about Volcker,” said a Goldman lobbyist who declined to speak on the record for fear of losing the contract. “People are working on that a lot, with agency staff, with lawmakers, you name it.”…”Before the crisis, Goldman was basically non-existent in Washington,” said a former Congressional staffer who now works as a policy analyst at a Wall Street bank. “Post-crisis, Goldman is everywhere.” [Reuters]