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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]
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$$$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]

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Write-Offs: 02.16.12

$$$ Athens faces tough bail-out terms [FT] $$$ ECB to Exchange Greek Bonds [WSJ] $$$ I give up, what would you do about Greece? [Crooked Timber] $$$ Yelp Sets Terms for March IPO [WSJ, possibly related] $$$ Goldman hires Harvard students because Harvard is bad at educating them [Bloomberg / Ezra Klein, possibly related] $$$ Australia's richest person wrote the universe's worst poem ("Develop North Australia, embrace multiculturalism and welcome short term foreign workers to our shores / To benefit from the export of our minerals and ores" etc.) [Telegraph via The Jane Dough] $$$ You could be a Credit Risk Senior Analyst at Genworth in Stamford [eFinancialCareers] $$$ Icahn Offers to Buy CVR Energy in at Least $2.6 Billion Deal [Bloomberg] $$$ The SEC raised the qualifications for being charged 2 and 20 [SEC] $$$ Merrill brokers are fine selling bad advice but draw the line at selling BofA banking services [Reuters / Felix Salmon] $$$ Welcome to six months ago Art Cashin. Some tips: buy NFLX; don't take any Tuscan cruises. [MarketBeat] $$$ Former U.S. Vice President Al Gore wants to end the default practice of quarterly earnings guidance and explore issuing loyalty-driven securities as part of an overhaul of capitalism which he says has turned many of the world's largest economies into hotbeds of irresponsible short-term investment. [Reuters] $$$ Toddler Rescued From Inside Claw Game [ABC]

News

Write-Offs: 02.25.13

$$$ Italy Vote Shows No Clear Winner, as Berlusconi Rises [WSJ] $$$ Goldman to begin fresh round of job cuts [Reuters] $$$ Remember That $83 Billion Bank Subsidy? We Weren't Kidding [Bloomberg, earlier] $$$ "There appears to be a growing trendin dying industries: The bosses want to hold their bedside vigils in private." [Deal Journal] $$$ Banks to sell complex CDS books [IFR] $$$ "As an excellent student with advanced people skills and an exciting resume, with a desire to be part of a challenging, energetic, and reputable organization, I will be a valuable addition to The Catholic Church as your new Pope." [McSweeney's] $$$ A top-tier investment management firm is looking for a VP, behavioral finance specialist in New York [DBCC] $$$ Wells Fargo Role in Heinz Deal Is Credit Negative, Moody’s Says [Bloomberg] $$$ Leveraged loan market on fire [Sober Look] $$$ Banks Face Key Hurdle in Libor Fight [WSJ] $$$ RBS plans IPO for U.S. arm Citizens in next two years [Reuters] $$$ John Kerry Brings Democracy to Kyrzakhstan [DI]

News

Write-Offs: 08.23.12

$$$ Gawker acquires semi-public audited financials of Bain Capital funds, orgasms all over them [Gawker, related] $$$ Bain Capital's conversion of management fees into carry may have been tax aggressive [Victor Fleischer] $$$ Republicans eye return to gold standard [FT] $$$ New York Fed Sells Last of AIG Bonds, at a Profit [WSJ] $$$ "Hedge Funds, Grimacing, Open the Kimono" [Bloomberg] $$$ BlackRock would like to hire a securities lending accounting associate in San Francisco, if that's your cup of tea [DBCC] $$$ The Downsizing of the American Butler [CNBC] $$$ What's up with Best Buy? [DealBook] $$$ Citi passed its make-up stress test [Reuters] $$$ Seven-Year-Old Wins Iceland Ram Groping Contest [Iceland Review via MR]

News

Write-Offs: 06.18.12

$$$ Clogged Credit Weighs on Fed Policy Makers [WSJ] $$$ Ex-Expert Network Consultant Pleads Guilty in Insider Case [WSJ] $$$ TCI is trying to guilt the FSA into forcing Lloyds to redeem TCI's holdings of Lloyds contingent capital bonds at above-market prices [FT] $$$ Homeowner Aid Boosts Big Banks [WSJ] $$$ World's population is 17 million tons overweight [MSNBC] $$$ Do you have plans on July 17? Do you fancy yourself a poker player? A really good poker player? Do you think you could beat David Einhorn, even if he’s working the table like it's Lehman Brothers circa 2007/2008? Do you think it would not be so awkward that the two of you could then enjoy a meal together and talk shop after which he picks up the tab? If David's not your thing, do you think you could envision yourself in the same scenario but with Bill Ackman? If you answered yes to most of the above and also consider yourself a fan of humanity, helping others and all that jazz, you should most definitely clear your schedule next Wednesday and sign up for a World Poker Tournament benefiting the Rewarding Achievement (REACH) program, which was co-founded by Bill Ackman and Whitney Tilson and gives inner-city high school students academic support and scholarships for passing AP exams. The event is taking place at Gotham Hall in New York and Einhorn (your competition) will be playing, as will Ackman and Tilson. Prizes for winners include the aforementioned meal (a lunch), with Bill, David or Seth Klarman, five nights at a “world-class private beach home in Lamu, Kenya,” a private poker lesson with 2011 WSOP bracelet winner and 2011 WPT Player of the Year, Andy Frankenberger and more. Alternatively, if you’re not one for cards but still want to help kids, you can also just register for the cocktail hour. $$$ Would you be interested in a job as a credit team director at a distressed-focused private equity firm in New York? What if I told you it's at Patriarch Partners? [DBCC, also available] $$$ Likelihood of Grexit Still 50-75%: Citi [CNBC] $$$ Alvarez Says Fed Hasn’t Seen Other JPMorgan Risk Problems [Bloomberg] $$$ Millionaire Parents Say Their Kids Are Unfit to Inherit [CNBC] $$$ New Jersey Man Allegedly Calls 911 From His Pillow Fort, Demands To Speak To Tim Tebow [DeadSpin]

Write-Offs

Write-Offs: 08.24.12

$$$ Jury reaches verdict in Apple-Samsung trial [Reuters] $$$ Greece not written off, says Merkel [FT] $$$ RBS closing in on LIBOR settlement [Reuters] $$$ HSBC In Settlement Talks With U.S. Over Money Laundering [Bloomberg] $$$ John Hempton looks at Focus Media [Bronte Capital] $$$ Hey Look, It’s the DMX-”Reading Rainbow” Mashup You Never Knew You Wanted [Popdust] $$$ Highland Capital is looking for a credit trader in Dallas, if that's your thing [DBCC] $$$ Bernanke Letter Defends Fed Actions [WSJ] $$$ The Effectiveness of Unconventional Monetary Policy at the Zero Lower Bound: A Cross-Country Analysis [BIS] $$$ The commodity-basket standard is even dumber than the gold standard [Slate / Matt Yglesias] $$$ "You can’t fight inflation by taxing the wealthy. And since fighting inflation is the primary reason our government would need to raise taxes, the proposals to raise taxes on the wealthy just don’t add up" says MMT true believer John Carney [NetNet] $$$ Olympian Nick Symmonds may have finished a mere fifth in the 800M during the 2012 London Olympics, yet he has redeemed himself completely by downing a beer before running each of the four laps required to complete a mile in record time. ... Symmonds finished his mile (and chugging of 4 beers) in a very impressive 5 minutes and 19 seconds. The mark was good enough for first in US, but only fifth place all-time. “That’s a good first mark,” says Symmonds. “I’ve got some training to do.” [Cosby Sweaters] $$$ Count von Count died [The Awl]

Write-Offs

Write-Offs: 01.04.13

$$$ Hedge fund chief Einhorn disappoints, Loeb has big 2012 [Reuters] $$$ JPMorgan Faces Sanction for Withholding Madoff Documents [Bloomberg] $$$ Ackman's Herbalife thesis: someone from the government will help poor people and billionaire hedge fund managers ... [Bronte Capital] $$$ Connections are key for the careers of male Wall Street analysts. For females, it’s education and forecast accuracy [AEI] $$$ Tom Wolfe: "Up until 2006 a spirit of manly daring had pervaded Wall Street’s investment bankers" but apparently not any more [Newsweek] $$$ ‘Teens’ Caught Egging Suburban Home Turn Out to Be Off-Duty Police Officers [Gawker] $$$ Mosaic Financial Markets is looking for a capital markets business analyst in New York [DBCC] $$$ You should buy a lot of Turkish stocks because they're guaranteed to go up! [Bloomberg, FTAV] $$$ New rule could turn U.S. hedge funds into informers on fraud [Reuters] $$$ Cerberus Close to Supervalu Deal [WSJ] $$$ How the World Has Changed [Alea] $$$ Historical Echoes: The Origins of the Piggy Bank [NY Fed] $$$ Finally, the Accessory We’ve Been Waiting For: A Wearable Cat Tail That Wags In Response to Your Heartbeat [Fashionista]

News

Write-Offs: 11.30.12

$$$ Plaintiffs' lawyers somehow turn nonbinding "say on pay" votes into shakedown opportunity [Reuters, related] $$$ How a desperate HP suspended disbelief for Autonomy deal [Reuters] $$$ Virtu, Getco Start Examining Knight Trading’s Books [Deal Journal] $$$ Carl Icahn and the Oshkosh board are still fighting [WSJ] $$$ National Bank of Poland Working Paper: "Would it have paid to be in the eurozone?" (Spoiler: no) [NBP] $$$ John Cochrane and Cliff Asness critique Warren Buffett on taxes [Grumpy Economist] $$$ Somebody's using bitcoins [BBW] $$$ A financial institution is looking for a risk manager in Charlotte [DBCC] $$$ Detroit on the Verge of Insolvency, Again [WSJ] $$$ Duke Energy’s Latest C.E.O. Drama [DealBook] $$$ Goldman Pushes Subprime ABX Index as Housing Rebounds [Bloomberg] $$$ BlackRock, Rialto Dump Some of Their ‘Skin’ in CMBS Game [MarketBeat] $$$ Lindsay Lohan Gets Unsolicited Legal Advice from Manhattan Madam Kristin Davis [NYO]

News

Write-Offs: 03.05.13

$$$ Dow Hits Highest Close Ever [WSJ] $$$ Venezuela's Hugo Chavez dies from cancer [Reuters] $$$ FBI joins SEC in computer trading probe [FT] $$$ Wall Street 'Deal Toy' Indicator Flashes a Bullish Sign [CNBC] $$$ A Friendly Conversation with a Banker [The Billfold] $$$ There Is A Petition To Make R Kelly's “Ignition (Remix)” The National Anthem [BuzzFeed] $$$ An international trading house is looking for a Dodd-Frank compliance officer for its swap dealer business [DBCC] $$$ Citigroup Books $579M for Pay Plan Shareholders Panned [Bloomberg] $$$ Board Patience Wears Thin at Penney [WSJ] $$$ Buybacks, M&A, and de-equitisation [FTAV] $$$ ISDA to Send Credit-Default Swaps Changes to Traders [MarketBeat] $$$ The FBI is looking for a drone, if you've seen it [FBI]