Write-Offs: 09.16.11

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Updated:: Jan 14, 2019
Original:: Sep 16, 2011

$$$UBS Trader Hires Firm That Advised Leeson [Bloomberg]

$$$Arrest of UBS Trader Rattles Banks In Europe [Dealbook]

$$$Stimulus Fatigue Stymies Obama in Rounding Up Votes for Full Jobs Package [Bloomberg]

$$$Paul Touradji, founder of commodities hedge fund Touradji Capital Management LP, said he is looking for “world-class” leaders to replace Chief Financial Officer Tom Dwan and President Sang Lee. [BusinessWeek]

$$$Ms. Romer, the book says, once passed a note to Mr. Summers threatening to walk out of a dinner with Mr. Obama and outside economists after the president polled his guests for their recommendations but failed to recognize her. “It was lighthearted. It was not me threatening to walk,” Ms. Romer said in an interview from Berkeley, Calif., where she is a professor at the University of California. [NYT]

$$$ Denny Hardin's weapon against the U.S. government: his own private bank [Pitch]

$$$CIT Shops a $1 Billion Commercial-Loan Portfolio [WSJ]

$$$An experiment in Delta None [FT Alphaville]

$$$ Charlie Gasparino: Fuld May Have a Story to Tell [FBN]

$$$ "They call them Delta desks because it sounds like Seal Team 6...young traders with a lot of testosterone aspire to be on those desks." [Jeff Macke]

$$$ ECB Seen Favoring Bond Buying Over Bank Loans [Bloomberg] $$$ Swiss overhaul unsettles asset managers [FT] $$$ Homeowners give boost to US banks [FT] $$$ Treasury: Taxpayers Likely to Profit From Financial Rescue Programs [WSJ] $$$ Independent traders staged a walkout in one of CME Group Inc.'s CME busiest interest-rate futures pits, protesting a large, privately negotiated trade a day earlier that they claimed was unfair. The action by several dozen floor traders, which lasted about an hour, made prices harder to come by for some contracts used by banks and hedge funds to protect against shifts in some interest rates and threatened to deplete volumes in the market. ... Thursday's trade "was sort of the straw that broke the camel's back" for the protesters, said David Stein, an independent trader who was standing outside the pit Friday and who helped organize the protest. Mr. Stein said allowing privately negotiated block trades was "anticompetitive" and "un-American." [WSJ] $$$ A broker-dealer is looking for someone to trade equities in Dallas [DBCC] $$$ Obama likely paid higher tax rate than Romney in 2011 [Reuters] $$$ "The Securities and Exchange Commission is reviewing a proposal to create the first diamond-backed exchange-traded fund." [NYT] $$$ Facebook Acquires Mobile Marketer Tagtile [CNBC] $$$ Analysts Worry Gucci Will ‘Underperform’ Luxury Peers as PPR’s Stock Falls [Fashionista] $$$ Bloomberg unveils Muppets as NYC ambassadors [AP] $$$ “Hardcore Porn” Mistakenly Interrupts “Good Morning America” Broadcast In Two Towns [The JaneDough]

$$$ Del Missier Says Diamond Told Him To Lower Libor Submissions [Bloomberg] $$$ Banks behave badly redux: Is it killing confidence? [Reuters] $$$ Goldman Sachs And The $580 Million Black Hole [NYT] $$$ Treasury probe cites officials for soliciting prostitutes, accepting industry gifts, FOIA docs reveal [TheHill] $$$ "What appeared to be sewing needles were found in sandwiches served in business-class cabins on four Delta Air Lines flights to the U.S. from Amsterdam on Sunday, the airline confirmed." $$$ Surveys Give Big Investors an Early View From Analysts [NYT] $$$ JPMorgan Blaming Marks on Traders Baffles Ex-Employees [Bloomberg] $$$ JPMorgan Has Bigger Worry Than ‘London Whale,' says Bové [CNBC] $$$ An Indecent Proposal From Sarah Silverman For Billionaire Sheldon Adelson, Involving Her Scissoring Him [SideSplitter]