oh okay

  • 07 Nov 2012 at 4:39 PM

Donald Trump Won’t Be Stepping Out With Mitt Romney Anytime Soon Because He “Doesn’t Like To Be Associated With Failure”

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When the campaign decided to go for it, they went all out. Staffers and surrogates lobbied their contacts in Trump’s office, and senior campaign strategist Stuart Stevens called a person close to the Celebrity Apprentice star and asked what they could do to win him over. The friend’s advice: “Flattery goes a long way with Mr. Trump.” And so, in September 2011, the candidate himself paid a visit to Trump Towers in New York City. Other GOP contenders had already made the journey to kiss The Donald’s ring — including Herman Cain, Michele Bachmann, and Rick Perry — but Romney was considered the most serious candidate at that point. Rather than hold a big press conference outside the building like others did, Romney slipped in and out of a back door, dodging the photographers lurking nearby. No one knows what was said behind those closed doors — only Romney and Trump were present — but whatever it was, the candidate had “charmed” him, according to a source who spoke to Trump afterward. The source added that Trump had seriously considered backing Perry, but Romney’s meeting put him over the edge. “I think it’s a rich-guy thing,” Trump’s friend told BuzzFeed…Would they stay in touch now that the election’s over? “Trump doesn’t like to be associated with failure,” the source responded. “Trump’s a winner. My guess is today he’s pretty disappointed.” [BuzzFeed via Heidi Moore, related]

  • 27 Mar 2012 at 3:09 PM

MF Global’s General Counsel Didn’t Sign JPMorgan’s “This Transfer Does Not Contain Customer Money” Assurance Letter On The Off-Chance It Did Even Though That Is Thing That Would NEVER HAPPEN

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MF Global General Counsel Laurie Ferber twice resisted providing assurances to JPMorgan Chase that the company was complying with rules to segregate customers’ collateral, saying language in a draft provided by the bank was too broad. JPMorgan was “specifically interested in two transfers” that occurred the morning of Oct. 28, Ferber said in testimony prepared for a House Financial Services subcommittee hearing tomorrow. The first was a $200 million transfer from a segregated account at the firm’s brokerage to a “house” account, followed by a move of $175 million from the house account to a London subsidiary’s account at JPMorgan, she said. “Although I had no reason to believe that any non- compliant transfers from segregated accounts had occurred or would occur, I did not think that any individual officer or employee should be asked to issue such a broad certificate,” Ferber said in in her testimony. Any employee making such an assurance would have had to personally handle all the transfers or been able to review all the transactions within the available timeframe, she said. [Bloomberg]

  • 31 Oct 2011 at 11:20 AM

Lynn Tilton: Ask And Ye Shall Receive

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“For many years I had men asking me on the phone each day what I was wearing and what color my underwear was,” Tilton said. “And so I sent out a Christmas card with me in a red lace sort of teddy, and red cowboy boots and a Santa hat, wishing them a Merry Christmas.” [ABC, earlier]

  • 13 May 2011 at 5:13 PM

Guy Explains Decision To Have ‘The Formula That Caused The Financial Crisis’ Tattooed To His Arm

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It’s been hitting me pretty hard what happened just a few years ago. Then you see [Senator] Carl Levin and the Senate looking to bring criminal charges against Blankfein. There are some key learnings that came out of that period in history, and it felt like it was a really appropriate thing to eulogize on my body… to me this represents the recipe for human greed. It was severely misappropriated by traders, the way it was oversimplified and reduced it to a single gamma number – and they couldn’t stop using it even knowing the inherent fallibility in it. I’m going to come off like such a f———g socialist in this, but to me it perfectly embodies what went wrong. And in that way it was the closest thing I’ve seen to the economic paradigm that we’re in. [Easy Street]

  • 21 Apr 2011 at 11:56 AM

Raj Rajaratnam Defense: Prosecution’s Witness Are Liars

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Earlier this morning, Raj Rajaratnam’s 7-man legal team led by attorney John Down gave its final remarks in the insider trading case. While the Galleon founder is, of course, innocent until prove guilty, much of the evidence brought by the prosecution has made him look prettay prettay prettay bad, including but not limited to recordings of Raj complimenting Danielle Chiesi on how she “played” a tech exec into giving her material non-public information and one of him telling a friend he knew to buy shares of a company because “one of our guys is on the board,” as well as testimony from a former McKinsey exec that Raj paid him $1 million for his tip about AMD’s acquisition of ATI and the previously undisclosed fact that the defense’s big witness, Richard Schutte, was gifted with a $15 million investment in his hedge fund by the Rajaratnam family two weeks prior to speaking glowingly of Raj. How did Dowd explain all that in his wrap-up? It’s pretty simple, really. Everyone who said something that suggested his client was guilty is a liar. Read more »

  • 15 Dec 2010 at 11:30 AM

Morgan Stanley Guy Who Committed Hit And Run Provides Pretty Legit Excuse For Faux Pas

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Back in November, it was reported that last summer, Morgan Stanley financial adviser Martin Joel Erzinger, pictured, had driven over a doctor who was on his bike and then kept going, “until he reached a Pizza Hut parking lot, where he stopped and called Mercedes auto assistance to report the damage to his vehicle.” Dr. Steven Milo suffered damage to his knees and scapula, spinal cord injuries, bleeding to the brain, in addition to ‘disabling’ headaches and the possibility of multiple surgeries. The part of the story that was somewhat more shocking was that rather than be slapped with serious to quite serious charges, a court decided that for his crime, MJE would be hit with two misdemeanour traffic violations and restitution to the victim. People were somewhat outraged, to say the least. But! That was prior to hearing all of Marty’s side of the story. Read more »

  • 17 Sep 2010 at 3:50 PM

Emma Lasry Explains “Closet Bitch”

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“It wasn’t meant to be like, one of these songs that showcases your voice,” she told Daily Intel of her debut track, the video for which she’s removed from YouTube. Also: “Everyone assumes I don’t do anything and I just spend my father’s money. My dad does investing for a living, so he’s like, ‘You’re my investment. If you make it big, you’ll be able to pay me back.’” [DI]

  • 09 Jul 2010 at 4:36 PM

Here’s Why Sean Michael Carey Wants You To Punch Jamie Dimon In The Balls

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Yesterday a fellow named Sean Michael Carey started a Facebook group called “Punch Jamie Dimon (CEO of JPMorgan Chase) in the Balls,” the stated purpose being exactly that. He didn’t say why he wanted someone to inflict harm on JD’s (glorious, possibly cup-protected) sack, only that after doing so, you should add “Sean Michael Carey sends his regards, fucker.” Today Daily Intel found out the source of SMCs beef toward James: after bouncing a few checks, Chase froze his account and said they were investigated him for check fraud. And then: Read more »

  • 13 May 2010 at 10:25 AM

Government Totally Got The Wrong Impression About Galleon Group

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You know how when someone reads your emails or listens in on your phone calls and sees or hears something they weren’t supposed to hear and flips out and confronts you about it? And how on a few occasions you can plead total ignorance and convince them they took everything completely out of context and be like “OMG, that’s what you thought? When I said I was going to ‘choke a bitch’? Wow!” And they feel like an idiot (and a bit of a degenerate) and vow to never stick their nose in your shit again for fear of looking stupid? That’s kind of the approach Raj Rajaratnam is trying to take with this whole insider trading investigation. Read more »

  • 15 Apr 2010 at 11:45 AM

Stan O’Neal Speaks, Clarifies The Whole Destruction Of Merrill Situation, Explains What The CDO Problem Felt Like (“Being Punched In The Face…Kicked In The Balls”)

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A lot of people are of the mind that many of the decisions made by Stan O’Neal were responsible for the fall of Merrill Lynch. Decisions such as the ones to fire very senior, long-time employees once he was named CEO, take on a massive amount of risk, perhaps more than was, let’s just call it “prudent,” in the name of profit, etc, etc, etc. The fact that he increased ML’s investments in CDOs from around $1 billion to around $40 billion (-ish) in about 18 months or so, which caused the bank to writedown $8 billion (give or take a few mill) in October 2007, and book its largest quarterly loss ever ($2.24 billion) are things such people cite when they make this argument. But here’s another theory, which is being tested out this morning. Tell me what you think of it: None of this was Stan O’Neal’s fault.

Now, before you jump down my throat, hear me out. This lesser known interpretation of facts comes from someone extremely familiar with the firm, and events that transpired during the O’Neal era. Someone who could tell us, definitively, if we’ve been wrong all along about the former CEO. Obviously, I’m talking about Stan O’Neal. Read more »

  • 06 Apr 2010 at 2:04 PM

FYI, Your (Bonus) Package Is Not Making You Better In Bed

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It’s just that its size helped prime your lady to get off. Read more »