Opening Bell: 12.16.09

Author:
Publish date:
Updated on

Person Of The Year 2009 (Time)
Annnd it's Ben Bernanke, pictured at left with his alto sax. Lloyd Blankfein, Bernie Madoff, and Tiger Woods were among the 25 people who "mattered" in 2009.
Bank of America Board's Split Said to Spur Kelly's Withdrawal (Bloomberg)
Supposedly Bob Kelly voluntarily withdrew due to a divided board (half want an insider, half an outsider), though that's not how BNY recalls is: "Mr. Kelly was very flexible on compensation -- in fact it was at the bottom of his list -- but the more important drivers of his decision were the strategic opportunities for growth at BNY Mellon," Kevin Heine, a spokesman for the New York-based bank, said in an e-mail.
WaMu Seeks to Investigate US Regulators, Others (CNBC)
In papers filed Monday, WaMu said it wants to review e-mails and other materials to determine if suitor JPMorgan Chase undermined its value by disclosing confidential information that may have contributed to the nation's biggest bank failure ever.
Abu Dhabi Fund Seeks Citi Deal Scrapped Or £2.5 Bln (Reuters)
Rochdale Securities banking analyst Dick Bove said Citigroup may not want to set a precedent by refunding the investment, but must respond to the claim from an important client in a key area of the globe. "It's in Citigroup's interest to have Vikram Pandit get on a plane to Abu Dhabi and cut the conversion price to $10 a share and make this problem go away," Bove said. "They used to be the primary bank outside the Arab banks (in the Gulf region)."
What About the Four in Galleon Case Not Indicted? (NYT)
"It appears the four have cut deals because the government certainly would have waited two extra days and indicted the six together," Bradley D. Simon, a criminal defense lawyer and former assistant United States attorney for the Eastern District of New York, told The Times. "It is highly unlikely that the U.S. attorney's office will present multiple indictments to a grand jury in the same matter over a two-day period."

Related