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