Opening Bell: 10.12.09

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Huge Profits Put Goldman On Track For Bonus Bonanza (Telegraph)
GS is expected to dole out $6 billion or $700,000 per employee this year, though nothing is set in stone and if people don't quit their bitching about "obscene bonuses at Goldman" maybe they'll give out nada.
Elinor Ostrom, Oliver Williamson Win Nobel Prize for Economics (WSJ)
Ms. Ostrom "challenged the conventional wisdom that common property is poorly managed and should be either regulated by central authorities or privatized," the Nobel judges said. Mr. Williamson, who is at the University of California at Berkeley, was cited for "for his analysis of economic governance, especially the boundaries of the firm."
Citi fined amid tax crackdown (FT)
$600,000 "over derivatives transactions that were partly designed to help foreign clients avoid taxes on dividends in a move that could herald a wider crackdown against Wall Street banks that used similar strategies."
Bruce Wasserstein Hospitalized After Irregular Heartbeat (WSJ)
Lazard said last night Wasserstein's condition "is serious, but he is stable and recovering
Barclays to sell £4bn assets (FT)
The Brits are hoping the spin off will please shareholders. There will be a 'codename' involved.
Wesley Gets 'Sniped' (NYP)
Wes may have been the victim of a Ponzi scheme during the same time he was choosing not to pay taxes.


Summers To GOP's Boehner: Recovery Act Is Working (WSJ)
"Thanks largely to the Recovery Act, alongside an aggressive financial stabilization plan and a program to keep responsible homeowners in their homes, we have walked a substantial distance back from the economic abyss and are on the path toward economic recovery," Summers said in a letter to House Republican Leader John Boehner, R-Ohio.
Citi Sold Phibro to Shed Risk-Taking Tag on CEO's Payout Plan (Bloomberg)
No shit, really?

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