After early doubts about the Fed chief's commitment to fighting inflation and charges that he was too candid about policy, investors are now giving the 53-year-old Bernanke a vote of confidence. The yield on the benchmark 10-year Treasury note has fallen to 4.65 percent -- from 5.25 percent in June -- even though he stopped raising interest rates in August with inflation above his declared comfort level.
It's like we always say-- never question the street cred of a man with a beard. It'll always come back to bite you in the ass. Always.
SEC Charges Trader (The Street) The SEC has filed a suit against John Mangan Jr., a former hedge fund manager, for the alleged insider trading of shares in a small company involved in private placement. The lawsuit is the “latest in a long string of regulatory actions to stem from the investigation into allegations of improper trading in [a 2001 investment in PIPE], which raised $12 million for Compudyne, a Maryland security-services company.
Apple ‘falsified’ files on Jobs’ options (Financial Times) Stevie-boy Jobs was reportedly given 7.5 million stock options back in 2001 sans the pesky little “required authorization” from Apple’s board of directors.
Records that purported to show a full board meeting had taken place to approve Mr. Jobs’ remuneration, as required by Apple’s procedures, were later falsified. These are now among the pieces of evidence being weighed by the Securities and Exchange Commission as it decides whether to pursue a case against the company or any individuals over the affair, according to these people.
Still adamant in his desire to “F the S.E.C,” Jobs apparently continued today barraging reporters with threats pointed toward the government organization in regards to his purported might as bizarrely derived by a recent series of television ads produced by Apple. “Have you seen our ‘I’m a MAC/I’m a P.C. commercials?” he was heard asking a reporter in a tone that was best described as sounding “psychotic.” “If you’d seen them you’d know the S.E.C. don’t have shit on me.” “No, really, I’m not kidding you, if you can’t agree with the statement ‘That Hodgman get my goat every time,’ you haven’t seen the commercials. Most people think the one with them in the boxes is the best but I think the best one is when P.C. and MAC are at a “marriage counselor” and they’re talking about how P.C. feels inadequate compared to MAC and oh my god it’s just hilarious, they’re pretending to be like a husband and wife, I kid you not, I’m in stitches every time I see that one. STICHES! I’m not kidding. I love those ads. I love them. I love them. [whispering] I love them. I love…[trails off].”
Seagate CEO apologizes for porn remark (Fortune) We just like that headline. Sue us for living.
PAYOLA SCORES ANOTHER $4.25M (NYP) Shocker: Hurricane Spitzer strikes again.
Lindsay gets a visit from Mr. Flash (WallStrip)