According to a filing, the investigations are looking at “particular investments and trading in securities of particular issuers,” and it’s unclear as to who is conducting the probe (or if it’s related to the inquiry the Securities and Exchange Commission reported last week). One thing, however, is clear. Continue reading »
pigs who play the piano
Late last week, it was reported that in Phil Falcone had loaned himself $113 million from one of Harbinger Capital’s funds, where redemptions had been suspended, in order to pay personal taxes. The hedge fund manager said he checked with his lawyers before borrowing the money but investors still were fairly miffed anyway. Goldman Sachs pulled its entire investment, as did Blackstone, and one client informed Reuters, “You can’t treat the fund like a personal piggy bank to pay taxes. I don’t know that there is really anything illegal about it, but it is certainly disgustingly immoral and shows a complete lack of fiduciary care.”
Which is why the sensitive ones in the bunch should be thrilled to hear that the next time Falcone needed a little money, he simply went to the bank and asked for some coin to tide himself over, rather than taking it out of their pockets and risking another lecture from mom and dad about “right” and “wrong.”
Earlier this month, Falcone and his wife posted some of their “fine art” as collateral for a secured five-year loan from Bank of America, public records show. The so-called security agreement between Bank of America and the Falcones was filed with the New York Secretary of State’s office on Nov. 4.
Goldman Sachs Pulls $120 Million From Harbinger Capital After Falcone “Loans” Himself Money From Other Fund
By Bess Levin
Bloomberg reports that Goldman Sachs plans to pull its entire investment from Harbinger Capital’s flagship fund, for two reasons. 1) The returns weren’t very good and 2) Falcone “borrowed” $113 million from one of his firm’s smaller funds (where redemptions had been suspended) in order to pay personal taxes. Continue reading »
Is there nothing this woman can’t do? The answer is no. Whether it’s playing soccer in jewels, teaching a pig how to play the piano, demonstrating “school-girl chic,” keeping a hockey player happy, dressing herself while inebriated, attending galas on crutches, shoe shopping with a broken foot, dancing her ass off, and or producing an “emotionally touching” film, this chick does it all. Next, I say Phil gives her a shot at her own portfolio. Unless of course he’s threatened by her presumably formidable market savvy. [Hamptons]
Lisa And Phil Falcone’s Ungrateful Neighbors Can Only Think Of One Nice Thing To Say About The Couple
By Bess Levin
Imagine if this outfit had been put together while under the influence.
As you may have been aware, Phil Falcone and his wife Lisa bought the Bob Guccione manse in 2008 and are currently in the process of some major renovations. Such changes, which are costing the Harbinger founder around $10 million (on top of the $49 million he paid for the place originally) will bring joy not just to the couple and their twin daughters (who will have their own floor in the East 67th Street townhouse). And yet, rather than think about the fact that the Falcones will probably quite generously invite the neighbs over for a dip in their new 34-foot-long indoor swimming pool (the old one had to be replaced, on account of the whores), rather than step back, pause and thank whoever was responsible for insisting Lisa have a bar installed in one of her walk-in closets, which will undoubtedly kick the Mrs’s sartorial choices up Long Island Iced Tea notch*, all these people can do is bitch. Continue reading »
- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
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