Write-Offs: 01.18.12

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$$$Investors Are Facing Up to Reality of Greek Debt Default [CNBC]

$$$U.S., Banks Near 'Robo-Signing' Settlement [WSJ]

$$$BNY Mellon Settles Part of Foreign-Exchange Trade Suit With U.S. [Bloomberg]

$$$ Art history majors are 2.5x more likely than computer science majors be in the top 1% of Americans by income [NYT]

$$$“We call these bonds hybrid counterfeit instruments because there’s no such thing as a $500 million Treasury bond,” explains Gombar, who has chased global funny-money rings from the Secret Service’s Rome outpost since 1998. “It’s like counterfeiting a $3 bill, something that doesn’t exist.” [Bloomberg]

$$$Mark Wahlberg apologized for saying, about 9/11, ""If I was on that plane with my kids, it wouldn’t have went down like it did. There would have been a lot of blood in that first-class cabin and then me saying, 'OK, we’re going to land somewhere safely, don’t worry.'" [NYP]

$$$ Hilarious contrarian rating agency Egan Jones downgraded Germany [CNBC]

$$$ Would you like to read a French philosopher blathering about rating agencies? Now you can. [HuffPo]

$$$U.S. charges man with stealing software from NY Fed [Reuters]

$$$U.S. Regulators to Defend Volcker Rule Ban on Proprietary Trades [Bloomberg]

$$$Right at the top of his campaign’s home page, Mr. Romney proclaims, “We have a moral responsibility not to spend more than we take in.” The United States’ debt is such a problem, it’s like an addiction: “The first step toward recovery is admitting we have a problem and refusing to allow any more irresponsible borrowing,” his site says. It’s almost as if Mr. Romney never worked in — what’s that other phrase for private equity? — oh yes, a leveraged buyout firm. [DealBook]

$$$Captain of Stricken Vessel Says He Fell Overboard in Passenger Panic [NYT]

Related

Write-Offs: 06.05.12

$$$ European Union Proposes Central Banking Regulator [NYT] $$$ Spain says markets closing on it, seeks help for banks [Reuters] $$$ Ken Lewis's script to tell John Thain he was worried about Merrill's losses [Deal Journal] $$$ Using Confidential Information in a Hostile Offer [Harvard Law] $$$ Mitt Romney Surprised That Tall Man ‘Wasn’t in Sport’ [DI] $$$ Alpine Woods Capital Investors is looking for an experienced equity income Associate Portfolio Manager/Analyst in Westchester [DBCC] $$$ Hedge Funds Failing To Deliver Taxes To Connecticut [Bloomberg] $$$ Have a Bad Boss? Treat Him Like a Toddler [CNBC] $$$ Thomas H. Lee to Take Control of Party City [WSJ] $$$ Lax bros. Lax bros. [Boston Globe]

Write-Offs: 10.23.12

$$$ Facebook Posts Loss, But Emphasizes Mobile Growth $$$ LightSquared Executives Get $6 Million in Bonuses Approved by Judge [Deal Journal] $$$ Bernanke QE3 Stocks Miss Greenspan Irrational Exuberance [Bloomberg] $$$ ‘I’m Quite Concerned About Fiscal Cliff’: Greenspan [CNBC] $$$ Argentina won't kneel down before 'vulture funds,' says Cabinet Chief [BA Herald] $$$ Gupta is no Rajaratnam. Gupta tipped inside information about one company to Rajaratnam, while Rajaratnam traded on confidential information collected from many sources. So you’d expect that Gupta would be treated differently when he appears for sentencing. Federal sentencing guidelines, however, suggest a prison term for him that’s similar in length to the 11 years Rajaratnam is serving. And prosecutors want a sentence within those guidelines, just as they want for the hundreds of defendants sentenced in federal courts nationwide every day. Because what Gupta and Rajaratnam did is so different, though, sentencing Gupta to anything like the time Rajaratnam is serving undermines the whole purpose of the sentencing scheme that prosecutors say they want to uphold. [Slate] $$$ For several years now, Marc Lasry, the co-founder of Avenue Capital, has decorated his mansion on East 74th Street with bloodied bodies hanging from the balcony, skeleton heads, a giant inflatable ghost, swinging bats and a life-size, clothed skeleton affixed to a tree on the sidewalk. One afternoon last week, tourists and children gathered to take pictures of a dancing skeleton beside the front door. It was singing “Super Freak.” (Perhaps in the spirit of competition, the hedge fund manager Philip A. Falcone and his wife, Lisa Maria, have lavishly decorated the exterior of their 27,525-square-foot house on East 67th Street even though it is currently a construction site.) [NYT via BI] $$$ Adveq, a leading asset manager investing in private equity and real asset funds globally, is looking for an investor relations and development representative for North America [DBCC] $$$ Former Soros CIO nears launch of Anderson Global Macro early next year [AR] $$$ Wall Street Is Rethinking Commodity-Trading Role [WSJ] $$$ This is a story about LBO companies getting equity financing from long-only investors to pay down debt to manageable levels before an IPO [Term Sheet] $$$ This is a story about a management consultant who is also a self-published poet [BBW] $$$ "My wife ... penetrated to the heart of the debate in a single sentence tonight when, only about 15 minutes into the exchange, she observed: 'Romney’s flag pin is much larger than Obama’s flag pin.'" [NR] $$$ Obama Takes Out Romney With Mid-Debate Drone Attack [The Onion] $$$ NYC-Based Soup Chain Offers Free Cup of Soup, Personal Service from a ‘Cunt’ Named Mary [Gawker]

Write-Offs: 03.15.12

$$$ AIG Said to Boost U.S. TARP Recovery to 80% With Payment [Bloomberg] $$$ Trio of Deals Show IPO Strength [WSJ] $$$ Scrap Over Easing IPO Rules [WSJ] $$$ "The biggest recent change on Wall Street has been semantic, not substantive. The word 'client' has become Orwellian doublespeak. Goldman’s leaders talk uniformly about the importance of serving clients, but the firm’s salespeople know who is a client and who is a mere a counterparty." Frank Partnoy says sensible things about Muppetgate [FT] $$$ Fruit flies who strike out with the lady fruit flies drink to forget their troubles [NYT] $$$ Banks hike fees, cut costs to boost profits [Reuters] $$$ Glencore poised for joint bid for Viterra [FT] $$$ The New York Times paid executives multimillion dollar bonuses for achieving returns that were a fraction of its cost of capital, so that's kind of awkward [BreakingViews, via William Wright] $$$ Would you like some hyperbolic metaphors with your intimations of criminality? Enjoy! [Rolling Stone] $$$ "The Real Question re Goldman: Why doesn't Goldman have its employees sign non-disclosure agreements?" I know, right? [Credit Slips]

Write-Offs: 09.24.12

$$$ Tables turn on Spain with pressure to seek bailout [Reuters] $$$ Maybe David Viniar will be Goldman's chairman when Lloyd retires and Gary is CEO? [WSJ] $$$ "The study found that for a sample of modifications to securitized subprime mortgages, a 10 percent reduction in the monthly payment was associated with a 4.5 percentage point reduction in the twelve-month redefault rate." [New York Fed] $$$ "If Apple continues on its current trajectory, something remarkable might happen on April 9, 2015, at around 11 a.m. That is, statisticians and investors I've spoken with say, a conservative estimate of when Apple could become the first company ever to be valued at $1 trillion." [NYT!] $$$ Welcome to the world Quartz! [Qz] $$$ "To call the Berenstains anthropomorphized bears insults both humans and bears." [NetNet / John Carney] $$$ Credit Suisse is looking for a research analyst for commodity strategies in asset management in New York [DBCC] $$$ U.S. Corporate Bond Tally Could Top $100 Billion in September [WSJ] $$$ Meredith Whitney is still pretty sure banks will fire a lot of people [CNBC] $$$ William Cohan confuses himself horribly about Whaledemort [Bloomberg] $$$ Mario Batali is paying $1.15mm to Del Posto employees to settle a lawsuit over wages, tips, overtime and discrimination [Diner's Journal] $$$ Hillary Clinton Aide Tells Reporter To “Fuck Off” And “Have A Good Life” [BF] $$$ Mitt Romney Doesn’t Get Why Airplane Windows Don’t Open [DI]