Opening Bell: 08.27.09
Feinberg to Formally Approve AIG CEO Pay Next Week (Reuters)
Benmosche (still on vacation?) will likely get the green light for his $7 million a year salary. Meanwhile, the Compensation Cop has not yet been convinced that Andy Hall, pouting in his German castle, "really wants this."
Hedgie Paulson Mad About Citi (NYP)
JP has allegedly acquired a two percent stake in Vikram's funhouse.
US Court Rejects TurboTax Defense (Bloomberg)
Good enough for Tim Geithner apparently does not fly for a couple of bros in Ohio: "Petitioners were not permitted to bury their heads in the sand and ignore their obligation to ensure that their tax return accurately reflected their income," the court said in an opinion issued yesterday. "In the end, reliance on tax return preparation software does not excuse petitioners' failure to review their 2006 tax return."
Treasury warns regulator off financial tax talk (Reuters)
The Treasury warned the chief financial regulator on Thursday to stay out of taxation policy after he said he would support higher taxes on the financial services industry.
A Treasury spokesman said taxation was "a matter for the Chancellor (finance minister)" after Adair Turner, chairman of the Financial Services Authority, said he would back "special taxes" on banks to rein in their activity.
Economic Crisis Strikes Irish Heartland (WSJ)
The Gaelic Athletic Association needs warm bodies.
Stanford's Private-Equity Stakes to Be Sold (Bloomberg)
And Sir Stan is not happy about it, though really the only recourse he has is to bitch and moan like an impotent prick via his lawyer.
Blackstone Gem (NYP)
Steve Schwarzman's unit grew 25 percent to $25 billion through the first half of the year, beating HSBC and Man Investments, whose assets dropped 52 and 46 percent, respectively. Crab Hands for everyone.
James Paulsen Sees A Sweet Spot At The 5 Minute Mark (CNBC)