Opening Bell: 02.18.10

Author:
Updated:
Original:

Citadel's DePietro Uses Hedge-Fund Skills to Direct First Movie (Bloomberg)
"The Good Guy," written by former Citadel partner Julio DePietro, centers on a romantic triangle involving smart, sexy Beth (Alexis Bledel of TV's "Gilmore Girls) and two Wall Street traders -- macho hotshot Tommy (Scott Porter) and his sensitive, book-loving co-worker Daniel (Bryan Greenberg). It mixes a complex love story with the fast-paced, high-pressure world of Wall Street, making it what one critic called a hybrid of "The Notebook" and "Boiler Room."
SEC, Cuomo May Face Off Over BofA (WSJ)
In a swipe at New York Attorney General Andrew Cuomo, the Securities and Exchange Commission said in a court filing that the December 2008 firing of Bank of America Corp.'s general counsel had nothing to do with his opinion about ballooning losses at Merrill Lynch & Co. just before the securities firm's takeover by the giant bank.
Goldman Sues Seven Former Executives For C.Suisse Move (Reuters)
In the complaint, Goldman requested the court restrain the defendants from using or disclosing Goldman's proprietary information and to return any company documents that maybe in possession of the defendants.
Spitzer Says Brokerage Fees, Now Reinstated, Fueled `Improper Practices' (Bloomberg)
"The contingent commissions created inherent conflicts and tensions that led to improper practices that we were trying to eliminate," Spitzer said yesterday in a phone interview. "It was part of a larger reform effort to protect consumers and ensure the integrity of the marketplace." Spitzer, 50, declined to comment on the removal of restrictions.
AIG drops derivatives portfolio sale plan (FT)
AIG has shelved plans to sell the whole of its derivatives portfolio, which nearly destroyed the insurer in 2008. It believes that keeping up to $500bn worth of complex positions could help it to survive as an independent entity and repay US taxpayers.
Entrepreneur Closes Doors On Criminals (NYT)
"I'd never been a crime activist or particularly concerned about my personal safety," said the founder of CrimeReports.com, who was working as a Washington lobbyist when he began attending community policing meetings in the D.C. suburb of Arlington, Virginia. "But I raised my hand, everybody clapped, and I was off the races."
Hedge Funds Still Favour London (Reuters)
Sorry, CT.

Related