Mr. Dimon Goes To Washington (WSJ)
At a recent White House lunch with President Barack Obama and a handful of other executives, Mr. Dimon, 54 years old, complained to the president that the administration's anti-bank rhetoric "isn't helpful," because it demoralizes businesses and employees, according to a person familiar with his comments.
Goldman Tells Its Side Of '09 In Letter To Shareholders (WSJ)
Goldman reiterated that it didn't "bet against" clients using short positions it took on before the residential real-estate market crashed. Goldman was one of the first Wall Street firms to reduce its real-estate exposure, even as some clients were sticking with their bullish bets. The short positions "served to offset our long positions," Messrs. Blankfein and Cohn wrote in the letter. "Our goal was, and is, to be in a position to make markets for our clients while managing our risk within prescribed limits."
Will Rubin And Prince Apologize? (Reuters)
Also, will we get an answer to this question on Thursday: The FCIC will likely look into why Prince was so wrong about the pending crisis, said Simon Johnson. "Is he a hapless chump or is he the guy that had the incentive to get it wrong?"
Paulson & Co Has A Good March (MarketWatch)
Paulson Advantage Plus, which has more than $10 billion in assets and focuses on corporate events such as acquisitions and reorganizations, returned 2.58% in March, according to a recent investor update. That left the fund up 1.37% so far this year. Paulson Advantage, a smaller, less-leveraged version of the strategy, gained 1.74% in March, leaving it up 0.8% in the first quarter of 2010.
Wall Street 2: The Return Of Corzine (NYO)
On Saturday, March 20, Goldman’s former chief executive was in a New York office building, touring the ninth-floor headquarters of an unremarkable futures brokerage named MF Global. He was smiling. It reminded him of an office he knew when he was a junior Goldman bond trader. “You know,” he said, “this feels like 55 Water Street.”
Corzine, New Jersey Officials Cut Line for Springsteen Tickets (Bloomberg)
Why else would one run for governor?
SEC to Track High-Frequency Trading (Reuters)
Under the new plan, the Securities and Exchange Commission would give the trading firms unique identifiers, which would tag every high-frequency transaction.