Write-Offs: 01.07.13

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$$$Banks Reach Settlements on Mortgages [NYT]

$$$Citi Names Forese, Medina-Mora Co-Presidents [WSJ]

$$$ "We find that the probability of both a credit rating downgrade and bankruptcy increase, with large economic magnitudes, after the inception of CDS trading. This finding is robust to controlling for the endogeneity of CDS trading. Beyond the CDS introduction effect, we show that firms with relatively larger amounts of CDS contracts outstanding, and those with relatively more “no restructuring” contracts than other types of CDS contracts covering restructuring, are more adversely affected by CDS trading. Moreover, the number of creditors increases after CDS trading begins, exacerbating creditor coordination failure for the resolution of financial distress." [SSRN via Bloomberg View]

$$$ Dick Parsons is reviving a Harlem jazz club [NYT]

$$$AIG Damaged by Government Run Amok, Ex-CEO Greenberg Says [Bloomberg]

$$$ BNP Paribas Investment Partners is looking for a fixed income investment specialist in New York [DBCC]

$$$Former Goldman Partner Cahilly Joins NBA as CFO, VP of Strategy [Bloomberg]

$$$RBC Hires Tarnished Ex-Citi Internet Analyst [WSJ]

$$$S.E.C. Names New Top Lawyer [DealBook]

$$$Coming Soon to UK Schools: Bankers! [FT]

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Write-Offs: 07.24.12

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Write-Offs: 11.09.12

$$$ Crédit Agricole Posts Record Loss After Greek Sale [WSJ] $$$ Dimon: America Still The Best There Is [CNBC] $$$ Regulators Postpone Some Basel Rules [DealBook] $$$ Jury Is Told Ex-UBS Trader Was Made a Scapegoat for Bank’s Woes [DealBook] $$$ U.S. judge insists Argentina must pay holdout creditors [Reuters] $$$ Charles Darwin Gets 4,000 Votes in Georgia Congressional Race [DI] $$$ The SEC is looking a financial economist in the Division of Risk, Strategy, and Financial Innovation, Office of Risk Assessment and Interactive Data in DC [DBCC] $$$ Exec Who Allegedly Enabled Fraud Runs Chase’s Effort to Compensate Foreclosure Victims [ProPublica] $$$ A Run on Groupon’s Shares as Growth Slows Again [DealBook] $$$ Judge: Kodak Didn’t Mislead Market By Keeping Mum on Bankruptcy Prep [Deal Journal] $$$ "The IMF, on the other hand, is an old hand at bailouts and has learned a lot of expensive lessons. It isn’t willing to throw money into Greece without an actual, credible plan, as opposed to the tissue of optimistic assumptions and politically conditioned forecasts that the EU habitually uses to disguise the true state of affairs from itself and the voters." [Via Meadia] $$$ A trip to outer space (that will "qualify you as an official astronaut") — for just $95,000 [MW]