Math Is Hard (NYT Magazine)
NYT: You met last year with Mary Schapiro, the current head of the S.E.C. How did that go?
HM:I would say she was coldly polite. Her general counsel, David Becker, did most of the talking. He and I did not get along at all. He was getting ready to come across the coffee table and strangle me.
RBS paid £1.3bn bonuses on profit of just £1bn (Telegraph)
RBS did not dispute the analysis but declined to comment. Insiders pointed out that roughly 7,000 jobs have been cut in the investment bank in the past two years and the management overhauled. They produced record revenues despite a huge restructuring. The "non-core" assets are now handled by an entirely different team.
Hedge Funds Profit From Greek Debt (FT)
“We have no physical presence in Greece or any other eurozone country and 90 per cent of our portfolio is in North America,” Paulson and Co. said. “There are many better informed investors, economists and government regulators to comment on European fiscal matters.”
Toyota Chief Apologizes To China (WSJ)
No hard feelings?
Warren Buffett: Economic War "Going Slightly Our Way" (CNBC)
"We got past Pearl Harbor. We will win the war, and it's going slightly our way."
AIG Agrees to Sell Asia Unit (WSJ)
Prudential is the lucky guy, for $35.5 billion!
Free tip: Want to get in good with Warren Buffett? Stick a centerfold in your annual report.