reader polls

  • kimkardashianapp

    News

    How Much Will This Kim Kardashian-Backed/Starring App Raise In VC Money?

    The object of the game (“Kim Kardashian: Hollywood”) is to get rich and famous and involves an animated Kim saying things like “You’re a natural in front of the camera” for a successful photo-shoot and telling you you suck for not hitting on someone’s animated boyfriend. We live in a world in which Morgan Stanley […]

    / Jun 25, 2014 at 5:27 PM
  • saccapitalfleece

    The hedge fund formerly known as SAC Capital

    Poll: What Should SAC Capital 2.0 Be Called?

    Over at the Journal today you will find a highly disturbing report: as the firm begins the process of converting into a family office, “SAC, which took the initials of its founder, Steven A.Cohen, has also had internal discussions about whether to change its name, in part to forge a new identity following its legal […]

    / Dec 13, 2013 at 12:25 PM
  • ben-bernanke

    Serious question of the day

    Should Ben Bernanke Take Over As Chairman Of Men’s Wearhouse?

    It’s a legitimate question and when legitimate questions need answering, there is no group of people more fit to answer them than the Dealbreaker community. So let’s get right to it. The facts: Ben Bernanke’s second term as Chairman of the Federal Reserve ends on January 31, 2014. Ben Bernanke has “already stayed a lot […]

    / Jun 19, 2013 at 4:38 PM
  • operationflushthejohns

  • timgeithner3

    News

    Now You Listen Here: Tim Geithner’s Bags Are Packed

    Earlier today, it was reported that Timothy P. Geithner has informed people that he “plans to leave the administration by the end of January, even if President Barack Obama and congressional Republicans haven’t reached an agreement to raise the debt ceiling.” Will this actually happen? Those unfamiliar with the Treasury Secretary’s attempts to leave his post in the past will say yes. He’s leaving, ship-shape. Those who’ve watched TPG try and fail to bust out of Washington for the last nineteen months, however, know better. More than likely, he’s not going anywhere and it’s not because deep down inside he doesn’t actually want to go home but because his bosses won’t let him. Witness, if you will, a small sampling of examples in which his requests have been denied, either directly (via someone laughing in his face) or indirectly (by giving those who’ve applied to replace him the wrong directions to their interview):

    / Jan 3, 2013 at 4:11 PM
  • nikesweatband

    News

    This Is A Story About A Person Who Volunteered To Run A Marathon While Hungover For $1,000

    The following note was found in our inbox earlier this afternoon:

    “Our junior guy came in this morning hung over and stinking like booze. After a few of us made comments on how awful he looked, he responded by letting us know that he’s in good enough shape to run a marathon, right now. Almost in sync and without hesitation, we said “done.” He named his price: $1000 (WAY TOO LOW) and within 2 minutes, he had $1000 cash on his desk. He just left the trading floor and is headed back to his apartment to change into running clothes. He initially said he could finish the 26.2 in less than 5 hours in his work clothes as long as we let him change into sneakers. We decided to let him change into running gear, since we’re good guys, but he still has the 5 hour time limit. We’re tracking him via his iPhone’s GPS. Happy Friday.”

    / Dec 14, 2012 at 4:14 PM
  • larrysummers

    News

    Larry Summers Supposedly Too Rough Around The Edges To Be Named Fed Chairman

    Who should replace Ben S. Bernanke as Chairman of the Federal Reserve when his term ends in January 2014? If anyone cared to ask us, we’d say no one: we like our Fed Chairman soft-spoken, bearded, and just as comfortable in dad jeans as they are in their bespoke Jos. A. Bank suits. But nobody asked and, according to Andrew Ross Sorkin, Bernanke has told “close friends” that regardless of whether or not Obama wins a second term, he’s ready to move on. Apparently qualified successors are few and far between and while Larry Summers is said to be “at the top of the list,” the fact that Treasury Secretary Tim Geithner may finally be granted freedom from his own personal Guantanamo Bay and will also necessitate a replacement who will have to work closely with the new Fed Chair poses some staffing issues, on account of the perception that Summers is somewhat difficult to work with.

    …[Summers is] a serious economist who knows his numbers and has a worldview that is similar to the president’s. He would be expected to continue the loose money policy of Mr. Bernanke. But one of the knocks against Mr. Summers is that he has a reputation for not playing well with others. He has had his own run-ins with the president. And if you consider the Treasury secretary and Federal Reserve chairman as a tag team, you would have to be confident that whomever you pick for Treasury secretary would get along well with Mr. Summers.

    So he called some former students assholes. So he’ll cut a bitch for getting between him and his steady stream of Diet Coke. So he chooses to sleep through co-workers’ particularly boring presentations. So he makes female colleagues feel like “pieces of meat.” So he shoots people unequivocal death stares that say, “I could have you killed and no one would find out” for the mere suggestion he might want to consider wearing socks. Is all that to say he’s not an otherwise affable guy who’d make a fine workmate and prized addition to an office softball team?

    Casting Dual Roles At Treasury And The Fed [Dealbook]

    / Oct 23, 2012 at 1:27 PM
  • News

    Reader Poll: What Is The Appropriate Way To Close A Letter Informing Your Employer You’ve Lost It A Couple Billion Dollars?

    “Regards”? “Best wishes”? “Very yours truly”? “Sincerely”? “All the best”? “Love”? “Again, really sorry”? “Well I guess I’ll take off now”? “It’s been a pleasure working with you”? “TTYL”? “Keep in touch”? Kweku Adoboli, UBS’s alleged rogue trader, who does sound genuinely sorry for the “shit storm” he brought on the bank, went with “thanks.”

    Via the FT:

    “Dear Will

    It is with great stress that I write this mail. First of all the ETF [exchange traded funds] trades that you see on the ledger are not trades that I have done with a counterparty as I have previously described.

    I used the bookings as a way to suppress the PnL losses that I accrued through off book trades that I made. Those trades were previously profit making, became loss making as the market sold off aggressively through the aggressive sell-off days of July and early August. Initially, I had been short futures through June and those lost money when the first Greek confidence vote went through in mid June.

    In order to try and make the money back I flipped the trade long through the rally. Although I had a couple of opportunities to unwind the long trade for negligible loss, I did not move quickly enough for the market weakness on the back of the first back macro data and then an escalation eurozone crisis cost me the losses you will see when the ETF bookings are cancelled. The aim had been to try and make the money back before the September expiry date came through but I clearly failed.

    These are still live trades on the book that will need to be unwound. Namely a short position in DAX futures [which had been rolled to December expiry] and a short position in S&P500 futures that are due to expire on Friday.

    I have now left the office for the sake of discretion. I will need to come back in to discuss the positions and explain face to face, but for reasons that are obvious, I did not think it wise to stay on the desk this afternoon.

    I will expect that questions will be asked as to why nobody was aware of these trades. The reality is that I have maintained that these were EFP [exchange for physical] trades to the member of my team, BUC [the accounts department], trade support and John Di Bacco.

    I take responsibility for my actions and the shit storm that will now ensue. I am deeply sorry to have left this mess for everyone and to have put my bank and my colleagues at risk.
    Thanks, Kweku.”

    Transcript Of UBS Trader’s ‘Bombshell Email’ [FT]

    / Sep 14, 2012 at 4:13 PM
  • insider-trading

    Reader Poll: How Long Will Raj Rajaratnam Suffer The Indignity Of Unflattering Jumpsuits?

    At some point tomorrow, Raj Rajaratnam will be sentenced for the 14 counts of securities fraud and conspiracy he was found guilty on in May. The prosecution, which claims the Galleon founder netted “at least” $50 million in ill-gotten gains, has requested he go away for anywhere between 19 years and seven months to 24 […]

    / Oct 12, 2011 at 1:52 PM
  • News

    Poll: How Long Must Coke Fiends Wait ‘Til The Olive Garden Currency Is More Valuable Than The Dollar?

    Hoping to receive $10 worth of cocaine in exchange for Olive Garden salad in a to-go box, a Salt Lake City woman instead was charged with a third degree felony by an undercover police officer. In addition to the salad, the woman also offered the officer $2, and vowed to return later with more money […]

    / May 24, 2011 at 5:54 PM
  • News

    Are Investment Banking Hours Worth It Anymore, Considering The Modest Pay?

    Time was, you worked an ungodly amount of hours, sacrificed your personal life, health and so on and so forth in a banking gig because your employer was going to make it rain ka-ching! on your face at the end of the day. In these harrowing, post-crisis times, though, things have changed. The slave labor […]

    / Apr 26, 2011 at 9:46 AM
  • News

    How Much Should One Investment Banker Tip Cabbie Driving Him And A Pal From New York To LA?

    A week or so ago, Dan Wuebben woke up at his best bud John Belitsky’s apartment. The duo had been celebrating Dan’s 31st birthday, and they wanted to keep the party going. “It seemed like everybody was away,” Belitsky said. “And I said, ‘Let’s do something great and fun and serious and magical and bigger […]

    / Apr 25, 2011 at 10:27 AM
  • News

    Anyone Wanna Run BP?

    Tony Hayward hasn’t actually resigned yet but at the present he’s not in so good with the Prez and a li’l accident– a blip, really– did go down on his watch. Reuters already has a list of fill-ins prepared in the event Big T involuntarily resigns. It includes Andy Inglis (head of BP’s core exploration […]

    / Jun 17, 2010 at 2:37 PM
  • News

    What Should Dennis Kneale Do With The New Time He’s Got On His Hands?

    I don’t want anyone to get too upset but yes, Dennis Kneale is off of Power Lunch. And while he’ll remain employed by the network, as a reporter covering media and tech, and seems to be in okay spirits (Kneale told us, “I had a ball co-anchoring Power Lunch, and I’m excited about my new […]

    / Jun 8, 2010 at 5:32 PM
  • News

    Is Erin Burnett Going To Go Veronica Corningstone On Mark Haines’ Ass?

    [via BI] I only ask because she herself suggested there might be some bringing of pain in the break room later, following a debate they had on last night’s blown call. Erin thought it was no big deal and doesn’t get what people are getting so bent out of shape about. Mark felt a tad […]

    / Jun 3, 2010 at 10:35 AM
  • News

    Why Did Obama Get Distant With Warren Buffett?

    Things were going great and WB was thisclose to fulfilling his lifelong dream of performing an Angry Pirate in the Lincoln bedroom and then boom! Out of nowhere, The Oracle stops hearing from the guy. Jonathan Alter reports: Warren Buffett, who had been in contact with Obama every week as the economy collapsed in the […]

    / May 24, 2010 at 1:44 PM
  • News

    John Carney Needs Help

    My dear friend and former colleague John Carney will be joining CNBC.com as a “senior editor” in the coming weeks and will also be “appearing regularly on CNBC’s Business Day programming.” Over the last few years John has been on the network as guest commentator but now that he’s an official member of the team, […]

    / May 12, 2010 at 2:22 PM
  • News

    Who Could Take Over For Lloyd Blankfein?

    First off, let it be known that I don’t think LB should or will go anywhere. Nevertheless there are some people, some haters, talking about that very possibility. Dick Bové said it a couple weeks ago but she was on the rag at the time and not to be taken seriously. Now there’s a story […]

    / May 5, 2010 at 2:12 PM
  • News

    Is A London-Based Investment Banker About To Make A Few Million Pounds Off Lloyd Blankfein?

    Almost three months ago, an absurd story appeared in the Wall Street Journal, which quoted an unnamed senior London-based investment banker, who’d said he’d bet a bunch of people at Davos a few million pounds that Lloyd Blankfein would be out as CEO of Goldman Sachs within two years. It was ridiculous! We thought so, […]

    / Apr 19, 2010 at 12:30 PM
  • News

    Who Actually Ruined Jon Corzine’s Dinner–Charlie Gasparino, Or His Bodybuilding Childhood Friend?

    The Post writes today that Jon Corzine’s dinner at Elio’s the other night was ruined by the presence of Charlie Gasparino. Supposedly, because of an appearance on CNBC a few years ago in which Chaz “sandbagged” the then governor of New Jersey over raising taxes, JSC is absolutely terrified of CG. Apparently the mere mention […]

    / Mar 30, 2010 at 1:00 PM
  • News

    Do A Lot Of Hedge Funds Bounce Back From 86 Percent Losses?

    I’m not asking for myself, I’m asking for Ebullio Capital Management, and its founder, Lars Steffensen. In February the commodities fund took a 86 percent hit, after declining 70 percent in January, and YTD, is down 96 percent. Investors are forming a disorderly line for the exits. From the outside in, things look ass-bleedingly bad. […]

    / Mar 16, 2010 at 1:30 PM

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