Write-Offs: 02.07.12 - Dealbreaker

Write-Offs: 02.07.12

Author:: Dealbreaker
Updated:: Jan 14, 2019
Original:: Feb 7, 2012

$$$Greece misses bail-out deadline [FT]

$$$Europe Bank Eases Way to Greek Deal [WSJ]

$$$ Yahoo chairman Roy Bostock, and three other board members, resigned [AllThingsD]

$$$Glencore and Xstrata face blocking threat [FT]

$$$Morgan Stanley,Goldman Clarify Clawback Policies [WSJ]

$$$Prosecutors Broaden Charges in Insider Case [WSJ]

$$$ "A New York man who was chased away by a naked resident from the Greenwich home he burglarized was sentenced Monday in state Superior Court." [Greenwich Time]

$$$ If your firm reads your emails and frowns upon swear words may we suggest "snozzcumber"? [Lists of Note]

$$$Gupta Faces More Tipping Allegations as Trial Is Delayed [WSJ]

$$$Prosecutor in Insider Crackdown Is Leaving U.S. Attorney’s Office [DealBook]

$$$Rajaratnam Judge Announces Departure From Bench in Press Release [Bloomberg]

$$$ Greg Lippman's LibreMax Capital has raised nearly $1.1bn [AR]

$$$Prosecutors are asking for the maximum sentence -- a year in jail -- for the one-legged Manhattan millionaire convicted of pummeling a beautiful "naked masseuse" in an oddball misdemeanor assault-by-Rolex case. Thomas Hartmann was supposed to be sentenced today on last month's jury conviction for striking Russian-born stripper Sophia Kandelaki with his gold-Rolex-clad wrist during a fight outside an Upper East Side restaurant in April. [NYP]

$$$This is a thing that happened [@grandparentscom]

Merrill broker banned; Twitter earnings; Clinton on Wall Street; "Barbecue Smoke Sparks Feud Between Florida Neighbors"; and more.

Twitter earnings; Greece, Standard Chartered seen better days; Convicted insider trader sentenced to jail sentenced to more jail; "Naked Idiot On The Field Absolutely Flattened By Rugby Player"; and more.

Herbalife beats expectations; Hedge fund manager takes on prosecutor; Singer puts his foot up Argentina's ass; iPhone causes third degree burn; AND MORE.

$$$ Eurozone delays Athens rescue funds [FT] $$$ Loans to Banks Cool Debt Crisis [WSJ] $$$ European Leaders Challenged by Rise in Joblessness [NYT] $$$ An explanation of that Barclays tax trade, with cartoons [FTAV] $$$ Sofa King can no longer advertise prices that are "Sofa King low" in the UK [Language Log] $$$ Mitt Romney has worn a garbage bag for rain gear $$$ Fed's Dilemma: Markets Want Both Growth—And Stimulus [CNBC] $$$ Facebook seeking bigger credit line [Reuters] $$$ Unlike other types of complex financial transactions, insider trading prosecutions usually do not require jurors to develop sophisticated knowledge of the financial markets or securities valuation. There is not a statutory definition establishing its parameters, so it can be applied to a wide variety of transactions, and the crime does not have complicated requirements for proving a violation. Prosecutors are cracking down on insider trading because there's no law telling people what's illegal and unsophisticated jurors will convict [DealBook] $$$ Oprah's Book Club makes people read less [MR] $$$ The personal assistant of Paris Hilton's sister's hedge funder ex-husband Todd Meister was maybe dating him while she was stealing $1mm from him, or something like that [NYP]

$$$ Facebook Posts Loss, But Emphasizes Mobile Growth $$$ 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]