Write-Offs: 11.18.11

Author:: Dealbreaker
Updated:: Jan 14, 2019
Original:: Nov 18, 2011

$$$Hedge-Fund Manager Sentenced to 5 Years in Insider Case [WSJ]

$$$Smaller Deficit Deal Discussed as Deadline Looms [WSJ]

$$$ Bethany McLean: "The reality is that the EFSF wasn’t meant to be an active institution; it was supposed to be a fire extinguisher behind glass: never to be used." [Reuters]

$$$ Rajat Gupta, Raj Rajaratnam: Gupta's lawyer sometimes forgets which one's which [DealBook]

$$$ The 1% Burger has foie gras, gold leaf, Grey Poupon; the 99% Burger has Wonder Bread [Eater via Mogulite]

$$$The MF Global Money Is Probably Gone: Source [NetNet]

$$$ When people get fired, they often carry their belongings out in boxes. Sometimes they're photographed and these pictures accompany stories about said firings. Apparently this is hilarious. [Dealbook]

$$$ Former hedge fund manager occupies Greenwich [Greenwich Time]

$$$ Is DTCC in fact the 98%? [FTAV, related?]

$$$ If you want to be an investment banker, it helps to go to Harvard or Yale [EconLog]

$$$ Tomorrow is The Game [Bloomberg, related, related]

$$$ Spain reveals €100bn capital flight [FT] $$$ Spain Says It Has Months to Raise Bank-Bailout Funds [WSJ] $$$ Market Braces for What Could Be Another Weak Jobs Report [CNBC] $$$ Goldman’s Cohn Warns Of Poaching Risks From Further Cuts [Bloomberg] $$$ Larry Fink's hedge-fund-manager son Josh isn't having a great time of it [AR-Alpha] $$$ "T. Boone Pickens, who apparently follows Drake on Twitter, sure isn't [impressed], replying 'The first billion is a helluva lot harder' with a mic-drop retweet." [Gizmodo] $$$ RAND Corporation is looking for a business analyst in Santa Monica [DBCC] $$$ Blankfein Expected to Testify at Gupta Trial [WSJ] $$$ JPMorgan CIO Swaps Pricing Said to Differ From Bank [Bloomberg] $$$ Felix Salmon is in a fight with a startup that has "has the best part of $300,000 in interest-free financing repayable at a time of its choosing in underwear." [Reuters] $$$ "'They signed off on their messages with LOL — laughing out loud,' Police Commissioner Ray Kelly said. 'Well, there was a person who was laughing out loud. That was Police Officer Michael Rodrigues of the 77th Precinct.'" [NYP] $$$ Try "the Douche Burger, a $666 edible fiscal disaster that piles caviar, lobster & truffles on top of a foie-stuffed, gold-leaf-wrapped Kobe patty, smothers it with Gruyere melted with Champagne steam, and finishes it off with BBQ sauce made using Kopi Luwak coffee that's passed through the digestive tract of the Asian Palm Civet, explaining why it 'may not taste good, but will make you feel rich as f*ck.'" [Thrillist via Copyranter]

$$$ U.S. Banks See Strong Profit [WSJ] $$$ U.S. court says Argentina does not need to make $250 mln deposit [Reuters] $$$ Former Goldman Director Gupta to Stay Free Pending His Appeal [DealBook] $$$ Banks book record profits off Fannie and Freddie [Term Sheet, related] $$$ "The online brokerage of Bank of America Merrill Lynch rolled out something it is calling Face Retirement. ... Here’s how it works: It’s a website that takes your current image, using a web cam, and makes you old and decrepit — the kind of person who will need some cash socked away." [Deal Journal] $$$ "Prosecutors said there is no such thing as a $500 million Federal Reserve note" [UPI] $$$ The CME is looking for an executive director for equity index products [DBCC] $$$ Corporate bond "turnover has not collapsed 80 percent in the same way as dealer inventory, and in fact daily volumes are on a par with where they were in 2007." [Bond Vigilantes] $$$ CME Deliverable ‘Swap Futures’ See Comfortable Debut [MarketBeat] $$$ High Rollers Are Still Big Losers 18 Months After Online Poker's "Black Friday" [BuzzFeed, also MR: "Even if some of these sites were fraudulent, one wonders if the players would not have better off without government 'protection.'"] $$$ The "gentleman groper" is a lawyer, not a banker [ATL, earlier] $$$ "Can a dog be trained to drive a car? New Zealand's Society for the Prevention of Cruelty to Animals proved it could be done." [CBS, video!!!]

$$$ Merkel's Dilemma: Risk Euro Zone or Her Government [WSJ] $$$ S.E.C. Pays Out First Whistle-Blower Reward [DealBook] $$$ Fed probes RBS over dealings with Iran [FT] $$$ Barry Diller's IAC offers $300 million for About.com [Reuters] $$$ Fifty Shades of Grey Is Now the Only Hope Our Economy Has [DI] $$$ Red Lobster Waitress Attacked For Filling Water Glasses Too Often At St. Louis Location [HuffPo] $$$ A broker-dealer is looking for experienced emerging market credit salespeople in Stamford [DBCC] $$$ Subprime Whodunit A Case of Semantics [WSJ, related] $$$ Best Buy Suspends Profit Outlook & Buybacks After Ending Deal Talks [Reuters] $$$ Sometimes VCs sell stock, deal with it [Fred Wilson] $$$ "Prince Harry tried to end Ryan Lochte’s championship reign Monday, duking it out with the Olympic hero in an after-hours race at a boozy Las Vegas pool party." [NYDN] $$$ The Koch brothers' less famous younger brother built a fake Western town for some reason [Gawker]

$$$ Inside a Star Hedge Fund: Lots of Big Bets, Built Fast [WSJ] $$$ Fed pushes banks to ignore rivals when setting bonuses [Reuters] $$$ JPMorgan Board Backs CEO Dimon as Chairman, Pays Zames More [Bloomberg] $$$ The Senate Drafts the SEC's Case Against JPMorgan [BBW] $$$ "A J.P. Morgan Chase employee climbed onstage at a black-tie dinner held on Wall Street Thursday night and accepted an award on behalf of the embattled bank for 'best crisis management.' ... Kathy Hu, an executive director in J.P. Morgan’s investor relations department, accepted the award and quipped: 'Can I just say, "Crisis? What crisis?"' J.P. Morgan beat out nominees Chevron Corp., which struggled with a refinery fire last year, and St. Jude Medical Inc., which battled heart-device problems." [Deal Journal] $$$ Pope calls Argentine kiosk owner to cancel paper delivery [CNA] $$$ Hey, Let Harvard Alumni Have Their Fun This Morning [DI] $$$ Deutsche Bank mulls raising fixed pay to counter EU bonus rules [Reuters] $$$ Judges’ Spat Strikes a Chord Among Deal Makers [DealBook] $$$ "Now some distressed debt investors get to find out what exactly it is you buy when you buy American-issued debt in a company incorporated in the Cayman Islands and doing business in China. I suspect the answer will be 'not much.'" [DealBook] $$$ "Henry Blodget is, in all seriousness, an artist of the internet whose methods should be studied and analyzed for future generations." [Gawker] $$$ "Finally I should note that the rectal gonorrhoea is the reason for my odour." Investment research! [Bronte Capital]