Galleon Asia Employees Said to Hold Discussions With Fortress (Bloomberg)
Galleon Group LLC's Singapore-based staff have held discussions about the possibility of joining Fortress Investment Group LLC following the arrest of their commander in chief.
Governor Paterson Goes To Wall Street With Words Of Thanks (NYT)
Shockingly, Citi chairman Dick Parsons called the gov's speech, 'terrific': "Some people think that if you deny the bonuses, that the money's coming back to the American taxpayers," Mr. Paterson said. "It's actually the other way around: If you deny the bonuses, the money stays in the firms. It's when you pay out the bonuses that you start to get the huge tax collections that New Yorkers see."
AIG Units Omit Name And They Excel (NYT)
Ixnay on the iganticgay uckfay upay: "Just months after dropping the telltale "A.I.G." from its sales brochures, the company has leapfrogged its competitors and reclaimed a title it held for many years before its bailout -- the top seller of fixed annuities to bank customers. People buying the annuities in bank branches may be surprised to know they are signing up with A.I.G. The contracts are being offered under the names of two subsidiaries, Western National Life and First SunAmerica. Until last June, they carried the name of A.I.G. Annuity."
Barclays Denis 'Secret' Gains In Lehman Deal (Reuters)
And any insinuation to the contrary is downright insulting. In court papers filed on Wednesday and earlier this week, Barclays said creditors had been made "fully aware" of how the deal was structured before it closed and that a gain Barclays recorded after the sale was not the result of "secret" negotiations to transfer undisclosed assets. "There was nothing 'secret' about this contract or its terms," Barclays said in the court papers.
Ex-Bear fund chiefs face SEC civil case (FT)
Edward Little, an attorney for Ralph Cioffi, is pretty sure the regulators will be sorry: ''We had met with SEC and urged them to drop the case. They've not yet responded definitively but we don't expect that they will. We are not interested in settling and we will go to trial," Mr Little told the Financial Times.
Jeff Immelt: Era Of Meanness, Greed Drawing to End (Reuters)
Also, sensitivity is in: "I decided that I needed to be a better listener coming out of the crisis," Immelt said. "I felt like I should have done more to anticipate the radical changes that occurred."
Soros Sure Greece Won't Be Allowed to Default (CNBC)
"There has to be pressure on Greece to put its house in order but I'm sure that Greece will not be allowed to default. The same applies to the United Kingdom," Soros told Sky News television.
Sarkozy Said to Consider Bank Bonus Tax, Following U.K.'s Brown (Bloomberg)
The French prez is considering a tax on 2009 banker bonuses exceeding 27,000 euros ($39,800).
Credit Suisse Names Urs Rohner as Next Chairman (WSJ)
Promoted from vice-Chairman.