Updated:

Jan 14, 2019

Original:

Nov 13, 2009

Did Charlie Gasparino Bring Wall Street To The Brink?

Author:

I've long maintained that Charlie Gasparino's "I'm just a country reporter" image is a façade. In reality, he is a dangerous, dangerous man who, if you know anything, nearly brought Wall Street and the country to its knees. Look behind any monumental fuck-up of the past several years-- nay decades-- that contributed to the financial crisis and you'll find Gasparino (convincing Bear Stearns to load up on subprime doesn't even scratch the surface, nor does his encouraging Angelo Mozilo to "just go one shade darker"). So it's nice to see at least one unnamed (take your best guess) Wall Street exec is agreeing with me, finally.

Charlie Gasparino's résumé is jam-packed: on-air editor for CNBC and contributor to the Daily Beast, the New York Post and Forbes. But at least one Wall Street executive has a different description: "A monumental asshole, who added dramatically to the financial instability during '08 and early '09."

Business Books [Time]

The Fox Business Senior Girlie Mags ‘N Skin Flicks Correspondent asked this question of asset management intern turned erotic arts performer Veronica Vain earlier today, in a wide ranging interview that included a discussion of "the feminist critique of porn" and a debate on who is cooler, the men of the adult entertainment world or Wall Street.

Mark your calendars.

Some people are such founts of generosity that on their birthday, they think not of themselves and what they will receive, but rather of how they can brighten the days of others. Charles Gasparino is one such selfless, gallant human being. On this special day, January 28th, the 50th anniversary of his entrance into the world, Mr. Gasparino has chosen to present us with a priceless gift: the secrets of his success. Print them out, mark them up, use them to advance your own cause, or simply give thanks to the god of journalism for his magnanimous spirit.

Point: "The latest urban legend to spread on trading desks and through the executive suites on Wall Street goes something like this: coming this fall, as President Obama makes his final push for a second term, his Justice Department will finally give the public what it wants in the form of an arrest of a major Wall Street figure for his role in the financial crisis. The men at the top of this "October Surprise" list are two of the more infamous figures in the banking business: former Lehman Brothers chief executive Dick Fuld and current Goldman Sachs chief executive Lloyd Blankfein. Using the Justice Department for political purposes is, of course, pretty sleazy." Counterpoint: "...But after speaking to my law enforcement sources -- and you can throw people who work at the Securities and Exchange Commission and the Justice Department in this category -- I give low probability for this urban legend coming to fruition." Regardless: "Here's what I am told, confirmed by two senior law enforcement officials involved in the insider trading probe: investigators are looking at charging someone they describe as a "big fish." The person has been described as someone I would know, which since I cover Wall Street, means that it's a major financial type implicated in the matter. I cannot be certain of this because my sources refused to provide any additional details; the case isn't complete. It involves cooperators, which means that it might go forward or it might not. So the October Surprise is a very real possibility, much to delight of journalists like myself. But before rejoicing we in the media should take a deep breath. These same law enforcement sources investigating insider trading among Wall Street fat cats and other corporate titans are also looking at the alleged improprieties of a major journalist who covers stocks. That case, like the other, isn't completed, but both have been described as "moving forward." In other words, stay tuned. An October Surprise On Wall Street [HP]

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