Write-Offs: 03.26.12

Author:: Dealbreaker
Updated:: Jan 14, 2019
Original:: Mar 26, 2012

$$$MF Global C.F.O. Says He Was ‘Not Involved’ In Customer Money [DealBook]

$$$AIG’s Benmosche Expects Up to $10B Profit for Taxpayers [CNBC]

$$$ Fannie and Freddie should force banks to write down second-liens by refusing to buy mortgages from them if they don't [Credit Slips]

$$$Bank Regulators Scrutinize Leveraged-Finance Loans [Deal Journal]

$$$Passport Capital Falls Short [AR]

$$$Fake Kazakh Anthem from "Borat" Accidentally Played at Sports Ceremony [NBC]

$$$Don't forget to send us your questions for “What Do You Think, Dealbreaker?”

$$$Green Mountain Founder Sold Stock Before Starbucks K-Cup Threat [Bloomberg]

$$$Deutsche Bank to settle MBS suit for $32.5 mln [Reuters]

$$$ Sandler O'Neill senior managing principal Jimmy Dunne left a briefcase containing $5,000 in cash, personal checks and private papers in a cab, and got it back via GPS or something [NYP]

$$$Michael Kors’ To Make Billions Thanks to IPO; Will Other Designers Follow Suit? [Fashionista]

$$$ A grandmother walked into the glass door of a Long Island Apple Store, broke her nose, and sued for $1mm claiming that Apple was negligent "in allowing a clear, see-through glass wall and/or door to exist without proper warning." [BetaBeat]

$$$ How would you like to be a structuring and collateral associate for Deutsche Bank's Structured Credit Products Financial Engineering Group? [DBCC]

$$$ Germany, Netherlands Rating Outlooks Cut To Negative By Moody’s [Bloomberg] $$$ Congress Presses New York Fed for More Details on Rate-Rigging Scandal [DealBook] $$$ China bids $15bn for Canada’s Nexen [FT] $$$ John Paulson Said To See 50% Chance That Euro Will Fail $$$ Bane's Plan to Bankrupt Batman Doesn't Make Any Sense [The Atlantic] $$$ A top bank is looking for a consumer/food sector M&A vice president or senior associate [DBCC] $$$ Citigroup Chairman O'Neill Takes Hands-On Approach [WSJ] $$$ An Ackman Protégé Plans to Strike Out on His Own [DealBook] $$$ Apple is a champion of planned obsolescence [Reuters] $$$ Snoop Dogg to Release Reggae Album as Snoop Lion [Gawker]

$$$ Tables turn on Spain with pressure to seek bailout [Reuters] $$$ 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]

$$$ Hedge Fund Manager Found Guilty of Insider Trading [DealBook] $$$ Citi chief rejects calls for bank splits [FT] $$$ E.C.B. Rejects Speculation About Its Bond-Buying Intentions [NYT] $$$ Condoleeza Rice and Darla Moore became the first women admitted to Augusta National [USAT] $$$ Apple Market Value Hits Record High $$$ Kansas lawmaker apologizes for nude Sea of Galilee swim [AP] $$$ Morgan Stanley is looking for an anti-money-laundering due diligence manager in New York [DBCC] $$$ Banks Use $1.77 Trillion To Double Treasury Purchases [Bloomberg] $$$ UBS Seeing Moat Of Secrecy Run Dry Vows Results To Lure Wealthy [Bloomberg] $$$ "Inspired by Google’s PageRank, the authors of a new paper create DebtRank, a measure of connection centrality. The vertical axis in the following diagram shows DebtRank (centrality) the horizontal axis asset shows size relative to the total network and the color indicates fragility/leverage. Institutions such as Wachovia, RBS and Barclays were relatively small but because of their centrality and fragility they imposed big risks on the system." [MR] $$$ Would it be better if analysts started earnings call Q&As by saying "terrible quarter, guys"? [Overheard]