US Probes Morgan Stanley (WSJ)
Among the deals that have been scrutinized are two named after U.S. Presidents James Buchanan and Andrew Jackson, a person familiar with the matter said. Morgan Stanley helped design the deals and bet against them but didn't market them to clients. Traders called them the "Dead Presidents" deals.
Roubini Says Greece May Lead Euro Exodus, China Faces Slowdown (Bloomberg)
A “real depreciation” in the euro is needed to restore competitiveness in nations including Spain, Portugal and Italy, he said in an interview on Bloomberg Television today. The euro will remain the currency for a smaller number of countries that have “stronger fiscal and economic fundamentals,” Roubini said.
`Perfect Quarter' for Four Banks Shows Fed-Linked Revival on Wall Street (Bloomberg)
“The trading profits of the Street is just another way of measuring the subsidy the Fed is giving to the banks,” said Christopher Whalen, managing director of Torrance, California- based Institutional Risk Analytics. “It’s a transfer from savers to banks.”
Market Inquiry Focuses On One Trader (NYT)
Gary Gensler, the chairman of the Commodity Futures Trading Commission, said at a Congressional hearing on Tuesday that during that crucial time period, the futures trader, whom he would not identify, accounted for about 9 percent of trading volume in the most actively traded stock-index derivative contract, known as the 500 e-mini futures contract.
Fragments from Goldman Sachs! The Musical (New Yorker)
John Paulson! Singing and dancing!
Miracle Boy (NYP)
A Libyan plane crashed Wednesday on approach to Tripoli's airport, killing at least 96 people and leaving a field scattered with smoldering debris that included a large chunk of the tail painted with the airline's brightly colored logo. A 10-year-old Dutch boy was the only known survivor.