Write-Offs: 09.08.09

Publish date:

$$$ Ken Griffin (Meredith Whitney, Blankfein, Spitzer, etc) reflect on Lehman biting the big one : "I was at my grandmother's house late Sunday afternoon when a colleague called and said it looked like bankruptcy was inevitable for Lehman. My grandmother, who is 96, lived her whole life in fear of the next depression. But in a great bit of irony, she took this catastrophe in stride. I, however, had been very worried. When the market was down only a few percentage points on Monday, I felt like the boy who cried wolf. But then the First Reserve money market fund broke the buck, and money markets stopped buying the commercial paper of financial institutions. What was set in motion was an underwater earthquake. There would be rumors in the days following that Morgan Stanley, Goldman Sachs, and Citadel would be next to fall. I credit my team for doing everything possible to make sure we were prepared for the worst." [Fortune]
$$$What it feels like to hug Dick Fuld [Daily Intel]
$$$ Cuomo considers charges against Bank of America execs. [MarketWatch]
$$$ Pornographer busted for faking it. [The Deal]
$$$Fairfield Greenwich Settles Massachusetts Regulatory Action [Reuters]
$$$ In case you're looking to meet up with Shia LaBeouf tonight. [FG]
$$$ Or tomorrow morning. 77th between Lex and Third. 6AM.