Write-Offs: 07.20.12

$$$ Spain's Recession to Linger as Austerity Bites [WSJ] $$$ Euro Bailout Bid Gets Vote Of No-Confidence [Bloomberg] $$$ As the Justice Department weighs the possibility of criminal charges in the unfolding Libor rate-setting scandal, it may want to consider the record of the Swiss banking giant UBS. At UBS, a series of immunity, nonprosecution and deferred prosecution agreements in recent years — evidently the government’s preferred approach to corporate crime — seems to have had scant, if any, deterrent effect. “It’s depressing,” Representative Peter Welch, Democrat of Vermont, a member of the House oversight committee, told me this week after we discussed UBS’s recent transgressions. “The Justice Department has to decide: Is the day of consent decrees and settlements, where you pay a fine, one passed on to shareholders, are those days over? Are the days of jail time here?” [NYT] $$$ Jamie Dimon Opens Wallet For JPMorgan Shares, Picks Up 500000‎ [Forbes] $$$ Someone stole hundreds of David Hasseloff life-sized cutouts [NYDN] $$$ Credit Suisse chair says board backs Dougan [Reuters] $$$ Ex-BofA Executive Indicted For Fraud In Municipal Bond Probe [Bloomberg] $$$ BMW ‘stolen’ from Hooters is found [WaPo]
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$$$Spain's Recession to Linger as Austerity Bites [WSJ]

$$$Euro Bailout Bid Gets Vote Of No-Confidence [Bloomberg]

$$$As the Justice Department weighs the possibility of criminal charges in the unfolding Libor rate-setting scandal, it may want to consider the record of the Swiss banking giant UBS. At UBS, a series of immunity, nonprosecution and deferred prosecution agreements in recent years — evidently the government’s preferred approach to corporate crime — seems to have had scant, if any, deterrent effect. “It’s depressing,” Representative Peter Welch, Democrat of Vermont, a member of the House oversight committee, told me this week after we discussed UBS’s recent transgressions. “The Justice Department has to decide: Is the day of consent decrees and settlements, where you pay a fine, one passed on to shareholders, are those days over? Are the days of jail time here?” [NYT]

$$$ Jamie Dimon Opens Wallet For JPMorgan Shares, Picks Up 500000‎ [Forbes]

$$$ "A man spotted dressed in a goat suit among a herd of wild goats in the mountains of northern Utah has wildlife officials worried he could be in danger as hunting season approaches." [AP]

$$$Credit Suisse chair says board backs Dougan [Reuters]

$$$Ex-BofA Executive Indicted For Fraud In Municipal Bond Probe [Bloomberg]

$$$Someone stole hundreds of David Hasseloff life-sized cutouts [NYDN]

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Write-Offs

Write-Offs: 08.15.12

$$$ Paul Singer wants Mitt Romney to regulate banks more [FT] $$$ JPMorgan, UBS Said Among Banks Queried In Libor Probe [Bloomberg] $$$ Apollo Said To Seek Up To $12 Billion For Flagship Fund [Bloomberg] $$$ Consider taking trading advice from a 23-year-old who day-trades equities in Dallas for his own account and talks about it with Business Insider [BI] $$$ Police Seize Pimping Rules During Raid [TSG] $$$ Shitterton named most unfortunate place name in UK [Scotsman] $$$ Legg Mason is looking for a US product strategist in Baltimore [DBCC] $$$ Standard Chartered eyes joint deal after backing down in U.S. [Reuters] $$$ Jana Disappointed With Agrium Talks [WSJ] $$$ The Harvard Business Review is pro-reading [HBR] $$$ Locals faced with medieval tax to pay for castle renovations [DutchNews] $$$ Lifeboats kill more people than they save [Brendan Koerner]

Write-Offs

Write-Offs: 5.8.15

UBS currency plea coming next week; Investors like Bojangles; Puerto Rico needs cash; "Natalie Portman To Play Supreme Court Justice Ruth Bader Ginsburg"; and more.

Write-Offs

Write-Offs: 03.12.12

$$$ Citigroup could be surprise winner in stress tests [Reuters] $$$ Goldman Buoyed by Credit Rally Seen Leading Bank Trading Gains [Bloomberg] $$$ Will Portugal Follow Greece Into Debt Relief? [NetNet] $$$ Highland Capital is looking for a distressed investments senior analyst-- you? [DBCC] $$$ Wily, Elusive Foragers Invade Upstate New York [NYT] $$$ Bradley H. Jack a former investment banking chief at Lehman and an owner the most expensive residential property in Fairfield, has been charged for the second time in less than a year with forging a prescription for a controlled substance. [CTP] $$$ Citigroup CEO Vikram Pandit Says Anger With Wall Street Is ‘Understandable’ [NYO] $$$ Peter Thiel, university-hater, heads to campus [Reuters] $$$ Groupon of a lifetime: "$12,500 for a signed Titanic DVD and 13-day ocean voyage with tour of the Titanic (a $59,680 value); departs from St. John’s, Newfoundland, on July 26 and returns August 8" [G]

Write-Offs

Write-Offs: 02.07.13

$$$ Overheating in Credit Markets: Origins, Measurement, and Policy Responses [Fed, also Free Exchange] $$$ Justice Department, states weigh action against Moody's [Reuters] $$$ Apple Jumps After Saying in Discussions to Return Cash [Bloomberg] $$$ Christie Conditionally Backs New Jersey Internet Gambling [WSJ] $$$ "Italian Prime Minister Mario Monti was presented with a small white dog he dubbed Empatia during an appearance on a TV program. ... Bignardi then asked Monti if he would also like to adopt a dog and brought out the small mixed-breed canine. Monti said holding the fluffy dog felt 'magnificently good.'" [UPI] $$$ Cohen & Steers is looking for a US REITs research associate in New York [DBCC] $$$ "Last October, certain Dell employees were forced to sell some of their company stock at just $9.55 per share. Now the company is being sold to founder Michael Dell for $13.65 per share." [Fortune] $$$ K.K.R.’s Profit Jumps 22% on Investment Gains [DealBook] $$$ Ackman to Herbalife: You’re Not the Girl Scouts [DealBook] $$$ Generic Brand Cat Can't Hide His Disappointment [Copyranter]

Write-Offs

Write-Offs: 08.08.12

$$$ Ex-UBS Traders Offered Deal by U.S. in Rate Probe [WSJ] $$$ The history of the invention of Libor [Reuters] $$$ British MPs accuse US of anti-City agenda [FT] $$$ Why investors should avoid hedge funds [Reuters / Felix Salmon] $$$ "Brazilian central bank employees staged their first work stoppage in five years today ... demanding an average pay increase of 23 percent to compensate for inflation since June 2008." [Bloomberg via Slate] $$$ Pole Vaulter Realizes It’s Not His Day As His Pole Shatters Mid-Vault [Deadspin] $$$ J.P. Morgan is looking for a Java developer to work on interest rates derivatives pricing [DBCC] $$$ Carbon Credits Gone Awry Raise Output of Harmful Gas [NYT] $$$ "I propose an expanded system of company registration under which companies would have to trade in private markets for a seasoning period, with mandatory disclosure, before they would be allowed to sell their shares to the public at large." [Harvard Law] $$$ On retail vs. institutional investors: "As for small investors vs. little guys, there’s a difference. If you have enough money that you’re investing it through brokers, I personally don’t count you as small, even if you appear small to Goldman Sachs." [Mathbabe] $$$ A Hundred Horses Are Ford’s Pride After Flipping Tainted Banks is really a Bloomberg headline [Bloomberg] $$$ Beck's next album will be released only as sheet music [McSweeney's]

News

Write-Offs: 09.06.12

$$$ JPMorgan Said To Face Escalating Senate Probe Of CIO Loss [Bloomberg] $$$ J.P. Morgan Names New Chief Investment Officer [Deal Journal] $$$ Banks now like to do quarterly calls with bondholders [WSJ] $$$ Some people still like big banks [Bloomberg] $$$ FINRA is suing a test-prep firm for taking Series 7, etc., exams 64 times, failing 52 of those times, and memorizing the questions to tell their students [Reuters; the complaint is also amusing] $$$ [Harvard] Economics concentrator Ali E. Evans ’13 received his [Harvard Business School] acceptance email on Wednesday while sitting in class next to his roommates. He said he celebrated silently and texted his parents. Evans said he has visited classes at the Business School with his tutors at Kirkland House since sophomore year. "Leading my own company one day is definitely a goal of mine, and so business school definitely fits in with that plan," he said. [Crimson] $$$ Pimco is looking for a diversity & inclusion coordinator in Newport Beach [DBCC] $$$ Qatar Imperils Big Merger of Commodity Companies [DealBook] $$$ There's a new Kindle Fire and it's cheaper [WSJ] $$$ Citigroup, Goldman, UBS Sued Over Mortgage-Backed Bonds [Bloomberg] $$$ Goldman must face mortgage debt claims - 2nd Circuit [Reuters] $$$ European political leader says "Some fans of group sex say that it’s better than one-on-one because, as with any collective work, you can skive off," is not Silvio Berlusconi [Telegraph]

News

Write-Offs: 08.03.12

$$$ U.S. To Sell $4.5 Billion In AIG Stock In Public Offering [Bloomberg] $$$ Hiring Climbs but Jobless Rate Ticks Up [WSJ] $$$ Bloomberg wants to develop a Libor alternative and call it Blibor [WSJ] $$$ What's the Exxon Valdez up to these days? [Bloomberg] $$$ "I think there's just something about getting into chlorine water that you just automatically go." - Ryan Lochte [AP] $$$ An investing bank is looking for a Ph.D. quant for their derivatives modeling team, if that's of interest [DBCC] $$$ Or consider supporting a second edition of Doug Henwood's book Wall Street, "the best leftwing book on actually-existing-capitalism that’s been written in the last couple of decades," if that's more your thing [Crooked Timber] $$$ Financial weapons of mass irony [Reuters] $$$ Futures are swaps in reality but not in regulatory arbitrage [Streetwise Professor] $$$ Mustaches keep you safe from radiation [WaPo]

Write-Offs

Write-Offs: 03.12.13

$$$ Cliff Asness: The Hidden Tax Behind Wall Street Reform [WSJ] $$$ Banks’ Debt Addiction Said to Face Scrutiny at Basel Group [Bloomberg] $$$ Citigroup Joins Roster of Banks Advising Dell Buyout [Deal Journal] $$$ Bloomberg: still really into the $83bn TBTF subsidy [Bloomberg, earlier, etc.] $$$ Ms. White got a warmer welcome from some members of the panel, which is set to vote on her nomination before it moves to the full Senate. "The more I find out about you, the more I like you," said Sen. Tom Coburn (R., Okla.), adding that he had already decided to support her nomination. Sen. Charles Schumer (D., N.Y.), introducing Ms. White at the beginning of the hearing, described the lighter side of a woman known mostly for locking up terrorists and mobsters. He told the packed hearing room that Ms. White served as chairman of the American Society for the Prevention of Cruelty to Animals, likes to "crack open a cold can of Bud" and was effective on the basketball court as a member of a New York women's basketball league. [WSJ] $$$ A sinkhole swallowed a golfer on the 14th fairway [DM] $$$ A resource focused boutique investment bank is looking for an associate in New York [DBCC] $$$ An Asset Manager’s Guide to Swap Trading in the New Regulatory World [DPW] $$$ SEC asked Goldman to disclose more about illiquid assets - filings [Reuters] $$$ Funds pick Credit Suisse over UBS on revamp risks [Reuters] $$$ "There is nothing funny about these photos, in which Mitt Romney celebrates his 66th birthday by eating fluffernutter cupcakes and wearing a stupid birthday hat." [DI] $$$ 'Wolf of Wall Street' Gets $1M Pay Day for Movie Rights [FBN]