Skip to main content

Write-Offs: 10.05.10

  • Author:
  • Updated:

$$$SocGen Arm Says Clients Still Shun Equities [Reuters]

$$$ AIG's Chief Risk Officer Robert Lewis is stepping down after saying that the company underestimated the risk of bets tied to subprime mortgages. “We were wrong about how bad things could get,” Lewis told the Financial Crisis Inquiry Commission in June. “What ended up happening was so extreme that it was beyond anything we had planned for.” [Bloomberg]

$$$Meet the enemy of the MBA [Fortune]

$$$Former Pershing Square Partner Starts Hedge Fund With Blackstone Financing [Bloomberg]

$$$ Lehman Is Firing...And Hiring [FINS]

$$$Traders' Payouts May Drop [CNBC]

$$$ Och-Ziff Europe Unit Sues London Firm Over Impersonation, Name Usage [Bloomberg]