Opening Bell: 07.07.09
Goldman Trading-Code Investment Put at Risk by Theft (Bloomberg)
"The bank has raised the possibility that there is a danger that somebody who knew how to use this program could use it to manipulate markets in unfair ways," Assistant U.S. Attorney Joseph Facciponti said, according to a recording of the hearing made public today. "The copy in Germany is still out there, and we at this time do not know who else has access to it."
Sergey Aleynikov Makes Bail (Reuters)
Apparently three "fiscally responsible individuals" put up the $750,000, which is nice. Also, Aleynikov's house in New Jersey is for sale (two-story Colonial), if anyone's interested.
Big Banks Don't Want California's IOU's, Signed Copies Of Junior (WSJ)
The group of banks included Bank of America Corp., Citigroup Inc., Wells Fargo & Co. and J.P. Morgan Chase & Co., among others.
Not The Bair Minimum (NYP)
Supposedly people think SheBair "overstepped her authority" with last week's proposal to limit private-equity firms' ability to buy banks. Also, there's this:
AIG Brands Hank Greenberg 'Liar' (FT)
AIG attorney Ted Wells said that the 84-year-old acted as if he could "walk through raindrops and not be touched" and that he had disrespected the witness stand by dodging questions and lying under oath.
Goldman Says Morgan Is All Wrong About Fed's Quantitative Exit (Bloomberg)
"Joachim Fels, co-chief global economist at Morgan Stanley, sees a risk that the Fed will keep the easiest credit since the Great Depression for too long. Ed McKelvey, U.S. economist at Goldman in New York, says those concerns are overblown, and that officials have time to deploy as many as 10 options for ending their $1.1 trillion aid to the banking system and economy without letting consumer prices climb."
Accountant Accused of Stealing Nearly $780,000 from Harvard Hillel (Crimson)
William O'Brien, a Hillel accountant contracted from New England company Insource Services, is accused of having "stolen significant sums of money through fraud."
Soros: The System Is Flawed (WSJ)