wow

  • Banks

    Maybe Think Twice About Accepting That Deutsche Bank Board Seat

    While the U.S. has at last gotten around to maybe kinda sorta prosecuting a few banks for their crisis-era misdeeds, you cannot throw a bank in jail. And no U.S. bankers have been thrown in jail for doing things that, cumulatively, contributed to a situation that led to the expenditure of $1 trillion taxpayer dollars, […]

    / Oct 31, 2013 at 5:11 PM
  • News

    Eliot Spitzer Is Willing To Suspend Judgment Before Determining Whether Or Not The New York Fed Let Barclays Molest Young Boys

    Maria Bartiromo: Tim Geithner apparently flagged the problem 5 years ago. Why didn’t he do more about this? He basically called the Bank of England and said he was worried about the approach in terms of Libor, that they needed to change it. Did he do enough?

    Eliot Spitzer: Look I think it would be preemptory to say one way or the other. This is something that needs an awful lot of examination. I think the fact that he knew in ’07, sent a memo in ’08 is only the first layer of inquiry. Did he follow up on it? Libor, as everyone who watches CNBC knows, is the heart and soul, it is the blood stream of the financial system. If anyone is rigging it or playing games with it then you must follow up. Anybody who is in the regulatory position that Tim Geithner was in, in my view the most important bank regulatory position in the world, how do you not follow up and say wait a minute guys what have you done? So it’s unclear, and I hate to use this metaphor perhaps but was this the sort of memo that was being sent at Penn State where you just kind of brush it aside or was it really and effort to do something?

    MB: Oh god…

    ES:…This bears an awful lot of inquiry. Because it goes to the very real question of whether the NY Fed did not fulfill its fundamental function to ensure the soundest [and] security of the balance sheets of the banks all the way through the period leading up to the crisis. Is this one piece of evidence that runs contrary to that or one piece of evidence that supports it? We don’t know yet.

    MB: What a comparison.

    ES: Well let me tell you Maria, unfortunately when you see memos at the top being written like that, you never know, you have to ask the question, what preceded it, what came after it, otherwise you don’t understand the texture of what was being done by that senior person.

    Spitzer Talks Wall Street [CNBC]

    / Jul 13, 2012 at 5:49 PM
  • News

    Banker Couple’s Dog Savagely Murdered

    Since it became de rigeur to hate on Wall Street, one of the most common refrains we hear about are financial services employees’ abuse of animals. “Goldman Sachs clubs baby seals in the basement of 85 Broad” this, “bankers kick puppies and have a good laugh about it” that. Well look who the sick fucks […]

    / Jul 14, 2010 at 12:14 PM
  • News

    Ken Lewis Kind Of Sucks At Nicknaming People

    Would’ve thought this would be an area he’d excel, but no. This was the best he could come up with.

    / Jul 6, 2010 at 10:12 AM
  • MBAs, News

    So This Is Now Happening

    Jumping off point question for the group: is this meant to indicate he’s only passed (or maybe just taken and will later find out he failed) Level I?

    / Jun 23, 2010 at 12:56 PM
  • News

    (UPDATE) RBC Capital Markets Comments Taken Out Of Context Regarding President Obama

    Update: We’ve spoken with several other conference participants who tell us the slide wasn’t meant to demonstrate how RBC sees President Obama but rather reflect sellers‘ current thoughts on the fear of the White House raising long term capital gains taxes. RBC said in a statement: “This [slide] is not representative of RBC’s viewpoint. We […]

    / Jun 15, 2010 at 6:00 PM

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