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Opening Bell: 09.23.09

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Lehman Alums Eye Fund Launch (NYP)
Get in on this while you still can: " A little over a year after Lehman's demise, former top trader Alex Kirk is said to be joining with the former second-in-command, Bart McDade, to launch a fund called River Birch Capital. While details are scarce, sources said Kirk, a 25-year Lehman veteran, has been working the phones for months, with an eye toward getting the investment fund off the ground. River Birch could aim to purchase distressed assets and other fixed-income debt, including high-yield securities -- areas in which Kirk has expertise. One source said some of the billions in mortgages and other esoteric securities still owned by the defunct Lehman might be on the radar."
UKFI Sacks Headhunter Over RBS Appointment (NYT)
Apparently the group that oversees the UK government's stakes in bailed-out banks was not cool with employing Johnny Cameron, RBS's former head of investment banking (and "a close ally of tainted RBS boss Fred Goodwin"), as an adviser.
Review Says No Net Loss For Some In Madoff Scheme (AP)
Half Big B's clients lost nothing due to unwittingly well-timed withdrawals of more money than they originally invested.
US, Accused Bear Managers Fight Over Evidence (Reuters)
A lawyer for Rich Tannin believes the "allegation" that her client erased an incriminating Gmail account is "an eleventh-hour smear."
Hedge Funds Keep Watch On Washington (BW)
One client who runs a $4 billion hedge fund in San Francisco that employs 25 researchers recently told consulting firm GLG that while he never expected Washington to become "the financial capital of the world, now that it is, I have to understand."
Harvard, NYU Law Students Left Hanging as Firms Slash Offers (Bloomberg)
It could be worse-- you could've gone to law school and now been sitting by the phone waiting for a call that will never come while a sad trombone blows in the background.