OH NO HE DI’INT


It’s about lowlives who spread falsehoods about Michael Lewis, with a subplot about the guy’s mom. Read more »

Bill Gross set to blow again in 5…4…3…2… Read more »

  • 26 Nov 2013 at 4:13 PM

Area List-Maker Too Good For Steve Cohen

Yesterday we highlighted a group of people who, despite all that has gone down, still love and appreciate Steve Cohen: the brothers of the University of Pennsylvania chapter of Zeta Beta Tau. Today, on the flip side, you’ve got this guy: Read more »

As some of you may recall, back in August, when Phil Falcone was on a suing people/things binge, one of the guys he decided to go after was Dish Network Chairman Charles Ergen, who Falcone’s Harbinger claimed had fraudulently acquired in LightSquared. Today Ergen asked a judge to throw out the lawsuit, in part because, according to Ergen, no fraudulent activity ever occurred (which seems like a pretty good reason). But also, if Ergen could add one thing? He finds it pretty rich that a man who just recently apologized for using investor money to pay his own personal taxes would be so quick to throw stones from inside the glass house that fraud built. Read more »

House Speaker John Boehner couldn’t hold back when he spotted Senate Majority Leader Harry Reid in the White House lobby last Friday. It was only a few days before the nation would go over the fiscal cliff, no bipartisan agreement was in sight, and Reid had just publicly accused Boehner of running a “dictatorship” in the House and caring more about holding onto his gavel than striking a deal. “Go f— yourself,” Boehner sniped as he pointed his finger at Reid, according to multiple sources present. Reid, a bit startled, replied: “What are you talking about?” Boehner repeated: “Go f— yourself.” The harsh exchange just a few steps from the Oval Office — which Boehner later bragged about to fellow Republicans — was only one episode in nearly two months of high-stakes negotiations laced with distrust, miscommunication, false starts and yelling matches as Washington struggled to ward off $500 billion in tax hikes and spending cuts.[Politico]

As you may have noticed, Jamie Dimon has had some unwanted attention thrown his way over the last several weeks, on account of one of his employees losing a few billion dollars. Though the JPMorgan CEO has been dealing with public displays of hate previously reserved for Lloyd Blankfein and Goldman Sachs, and will certainly be on the receiving end of a lot more tomorrow when he testifies on Capitol Hill, he has had a few people come to his (and his bank’s) defense. Yesterday Stephen Schwarzman told Bloomberg to lay off JD and JPM, noting that “occasional losses are inevitable” and “publicly excoriating JPMorgan serves no purpose except to reduce people’s confidence in the financial system,” while former Goldman exec Bill Archer said the whale fail makes him just “kind of shrug.” Lee Bollinger, who is President of Columbia and chairman of the Federal Bank of New York’s board of directors told the Journal that Dimon shouldn’t step down from his post as a director, as some have requested, and that those who cite conflicts of interest have a “false understanding of how [the Fed] works.” Some individuals from the Columbia community read that comment and are not very pleased. Enter, a strongly worded letter. Read more »

As you may have heard, earlier this afternoon, Facebook priced its initial public offering at $38/share, valuing co-founder Eduardo Saverin’s stake at approximately $2.9 billion. Since Saverin conveniently renounced his US citizenship last week, he will avoid paying millions in capital gains taxes and hang on to an estimated $67-$100 million that would have otherwise gone to the government, news that did not sit right with Chuck Schumer. Did the Senator from New York call the guy a “piece of shit miscreant“? No. Did he send him an email that included the line, “fuck with me and you will have a huge asshole“? No (not that we know of…). But Schumer was inspired to draft legislation aimed at tax-dodging ex-pats like Saverin and to let the kid know he makes him sick. Read more »

Earlier this week, a man named Greg Smith resigned from Goldman Sachs. Smith informed his bosses of his decision to quit around 6:40 AM local (London) time and, a few hours later, circled in the rest of the world with an Op-Ed in the New York Times, which he penned not out of a desire to violate his (former) employer in the most gruesome fashion possible in front of clients and other interested parties but because he believed it to be the right, nay, the only thing to do. In the piece, Greg explained that his decision to leave the firm after 12 years of service did not come easily. But, after months of beating down a nagging little voice, a moment of truth presented itself that he could not deny. During rehearsals for the college recruiting video he starred, Greg realized that the lines he was delivering re: Goldman being a great place to work were a lie. A bald-faced one, in fact. Goldman had changed in the years since the Greg-ster arrived, and whereas it once felt like home and the people in it family, he’d come to regard it as a den of evil, run by monsters. Monsters who called clients “muppets”; who only cared about making money; who valued “shortcuts” over “achievement.” Of the latter, Greg spoke from plenty of experience. Though his personal achievements are too numerous to mention in full, they include being named a Rhodes scholar (finalist), learning to tie his shoes at the age of 22, winning third place for table tennis at the Maccabiah Games, and being named captain of the South African national table tennis team. OR WAS HE? Read more »