Write-Offs: 02.22.13

$$$ U.K. Loses Top Aaa Rating From Moody’s as Growth Weakens [Bloomberg] $$$ Panic-driven austerity in the Eurozone and its implications [VoxEU] $$$ Judge extends freeze on account linked to Heinz trades [Reuters] $$$ "I asked ... if Citigroup had a policy of providing financial incentives to senior executives to encourage them to seek high-level federal jobs." [Bloomberg] $$$ "The bankrupt city of San Bernardino has hired a new city manager who, according to court filings, has twice declared personal bankruptcy ..." [Reuters] $$$ Pope Also Abandoning 1.5 Million People on Twitter [DI] $$$ Macquarie is looking for a structuring and risk management analyst for its energy markets division in Houston [DBCC] $$$ “Herbalife is bound by our self-regulatory code that prohibits [crimes]. Obviously, they wouldn’t be members of the association if we believed they were in violation.” [DealBook] $$$ Societe Generale planning CVA securitisation [Reuters] $$$ Don't Fix It, Call It a Risk Factor! [Credit Slips] $$$ Ex-SEC officials to risk council: Back off on money funds [Reuters] $$$ Resume includes "Drug dealer 2003-2005 small time supplier" [Gawker]
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$$$U.K. Loses Top Aaa Rating From Moody’s as Growth Weakens [Bloomberg]

$$$Panic-driven austerity in the Eurozone and its implications [VoxEU]

$$$Judge extends freeze on account linked to Heinz trades [Reuters]

$$$ "I asked ... if Citigroup had a policy of providing financial incentives to senior executives to encourage them to seek high-level federal jobs." [Bloomberg]

$$$ "The bankrupt city of San Bernardino has hired a new city manager who, according to court filings, has twice declared personal bankruptcy ..." [Reuters]

$$$Pope Also Abandoning 1.5 Million People on Twitter [DI]

$$$ Macquarie is looking for a structuring and risk management analyst for its energy markets division in Houston [DBCC]

$$$ “Herbalife is bound by our self-regulatory code that prohibits [crimes]. Obviously, they wouldn’t be members of the association if we believed they were in violation.” [DealBook]

$$$Societe Generale planning CVA securitisation [Reuters]

$$$Don't Fix It, Call It a Risk Factor! [Credit Slips]

$$$Ex-SEC officials to risk council: Back off on money funds [Reuters]

$$$ Resume includes "Drug dealer 2003-2005 small time supplier" [Gawker]

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Write-Offs: 12.20.12

$$$ TARP’s Smallest Recipient Repays, Treasury Reaps $62,000 [Real Time Economics] $$$ Peter Madoff Gets 10 Years for Aiding Brother’s Ponzi Scheme [Bloomberg] $$$ Role of Brokers in UBS Scandal Draws Scrutiny [WSJ] $$$ "At long last the New York Stock Exchange has achieved its main goal in recent years: consumption by a beast higher on the food chain." [NetNet / John Carney] $$$ This Handy Vibrator Is a Great Place to Store Your Pitch Decks [BetaBeat] $$$ Franklin Templeton is looking for a director of portfolio analysis and investment risk in San Mateo, CA [DBCC] $$$ San Bernardino paid $2 million in cash-outs before bankruptcy filing [Reuters] $$$ Making It Easier to Estimate Libor Losses [DealBook] $$$ US banks face rise in bad loans cover [FT] $$$ Pope already beating Justin Bieber’s rate of Twitter retweets — just a week after launching account [NYDN]

Write-Offs

Write-Offs: 02.27.13

$$$ Senate approves Lew as new Treasury chief [Reuters] $$$ J.C. Penney Posts Large Loss as Sales Sink Further [WSJ] $$$ Wall Street Junk Kings Selling Debt Poised to Lose Value [Bloomberg] $$$ Volcker Rule Could Be Delayed — Again [WSJ] $$$ Occupy the SEC is suing to force regulators to work faster on the Volcker Rule [Occupy the SEC] $$$ MBAs Assemble a Malm Bed from IKEA [YouTube / Wharton Follies] $$$ Citi Private Bank is looking for a senior taxable fixed income portfolio manager in Stamford [DBCC] $$$ Delaware Finds Reverse Triangular Mergers Aren't Assignments [Deal Lawyers] $$$ Calpers Claims Victory in Apple Vote That Didn’t Happen [Deal Journal] $$$ "If a bank's cost of funding went up idiosyncratically, the borrower got penalized. If a bank was suddenly considered a big credit risk, it's borrowers paid the premium." [NetNet / John Carney] $$$ 'Marijuana cannon' used to fire drugs over US border seized in Mexico [Guardian] $$$ Sallie Krawcheck: Going To An All-Girls School Was Tougher Than Working On Wall Street [The Jane Dough]

Write-Offs

Write-Offs: 03.23.12

$$$ Morgan Stanley wants all of Citi venture [Reuters] $$$ NYSE CEO Duncan Niederauer is not above gloating about BATS [CNBC via BI] $$$ Fannie and Freddie: Slashing Mortgages Is Good Business [ProPublica] $$$ Proposed names for Disney's Seven Dwarfs included Burpy, Hotsy, Shifty, Wistful, Doleful, Woeful, and Biggo-Ego [Lists of Note] $$$ JPMorgan is looking for a credit risk manager to cover banks and broker-dealers [DBCC] $$$ SEC demands Wells Fargo comply with subpoenas [Reuters] $$$ Lehman Ex-Broker Sentenced in Insider Case [WSJ] $$$ Ex-NBA Player Indicted on Ponzi Charges [WSJ] $$$ About forty people got out of their cars along Interstate 270 in Maryland and helped themselves to $5,795 in cash that fell out of an unsecured armored truck. ... Police are offering amnesty to anyone who returns the cash, but only $100 has been handed over so far. Heather Kelly described the scene on 270 to the AP: “It was in the traffic lanes and on the shoulders and just generally kind of like a snow globe of cash." [DI] $$$ Lacrosse players say the sport rewards the kind of determination required to do well on Wall Street. “By and large, lacrosse players aren’t necessarily the best athletes in the country,” says Joe Lizzio, a former Cornell player and co-founder of CapRok Capital. “We don’t have huge vertical leaps or run the 40 [meter dash] in 4.4 seconds.” The best lacrosse players “are smart kids that put in the long hours,” adds Cummings. “The same goes for finance, where you’re going to do well if you can outwork the other guy.” Another common attribute of lacrosse players is the kind of privileged upbringing that might have led them to banking careers even if they had never touched a stick. [BW]

Write-Offs

Write-Offs: 09.10.12

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Write-Offs

Write-Offs: 05.31.12

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Write-Offs

Write-Offs: 07.25.12

$$$ Schaeuble Declares Markets Wrong As Europe Heads To Vacation [Bloomberg] $$$ Don't Force Banks Into 'Draconian' Breakups: Whitney [CNBC] $$$ Morgan Stanley Stock May Be Worth $32 In Breakup, Mayo Says [Bloomberg] $$$ The Merkley plan to refinance underwater mortgages sounds pretty good [Reuters / Felix Salmon] $$$ Outspoken Analyst Kinnucan Pleads Guilty in Insider Case [WSJ] $$$ Man who rescued a 17-pound lobster "felt the nearly 100-year-old crustacean did not deserve to die with its parts soaked in butter. 'If he was 100, he saw World War I, World War II, man on the moon,' he said. 'Being in New England, he even saw the Red Sox win the World Series. So, he didn’t deserve the boiling water.'" [CBS] $$$ Due to recent regulatory requirements, a top bank in Charlotte is looking for a counterparty credit risk manager to be a Basel expert [DBCC] $$$ Libor scandal makes it more costly for bankers to get insured [Reuters] $$$ Europe Aims to Make Rate Manipulation a Criminal Offense [DealBook] $$$ Fund managers to lose securities lending profits [FT] $$$ The Securities and Exchange Commission drew sharp criticism from a federal judge who said they have failed to properly oversee a $55 million investor education fund created by a nearly decade-old settlement with Wall Street banks. The fund had been created as part of a roughly $1.5 billion regulatory accord in 2003 with Citigroup Inc, Goldman Sachs Group Inc, JPMorgan Chase & Co and other banks accused of publishing biased analyst research. U.S. District Judge William Pauley in Manhattan said the SEC has shown a "lack of oversight" and "indifference" toward how a nonprofit organization charged with distributing the money has been managed. ... Pauley pointed as an example to a two-year, $91,500 grant to the Genesee District Library in Flint, Michigan, that appeared to have resulted in just two events, one of which concerned "spending, sharing, and saving" for children ages two to five. "While there may be benefits to starting investor education early, toddlers seem beyond the pale," the judge wrote in an order issued Wednesday. [Reuters] $$$ Mitt Romney would restore 'Anglo-Saxon' relations between Britain and America [Telegraph]

Write-Offs

Write-Offs: 08.06.12

$$$ Standard Chartered Accused of Hiding Transactions With Iranians $$$ Banks Say Loan Applications Rise [WSJ] $$$ Chesapeake asset sale lifts profits, shares rise [Reuters] $$$ Swiss Brace for Talks with US on Secret Accounts [Reuters] $$$ U.S. judo Olympian kicked out for "accidentally" eating pot [NYDN] $$$ Harvard Management is looking for a quantitative risk analytics senior associate and a position management associate [DBCC] $$$ Magnetar synthetic CDO construction and marketing: the emails [ProPublica] $$$ German bank has CDO case against Aladdin, court says [Reuters] $$$ Facebook Bears Garner 500% Profit From Structured Product Bets [Bloomberg] $$$ What Mitt Romney Bought at the Hardware Store [DI]

Write-Offs

Write-Offs: 05.08.12

$$$ Greek left attacks ‘barbarous’ austerity [FT] $$$ Facebook Facebook Facebook Facebook [WSJ/FT/CNBC/Reuters] $$$ Freddie Mac Chooses CEO [WSJ] $$$ After McClendon's trades, Chesapeake board gave blessing [Reuters] $$$ Tim Sykes is still doing things [BetaBeat, earlier] $$$ "A bank robbery, in our imagination, provides the robber with a one-off high-risk opportunity to become incredibly wealthy, in comparatively guilt-free fashion: No one but the corporation loses any money, so, what the fuck? That used to be the case, but due to inflation — as well as a host of other factors — it no longer is." [The Billfold] $$$ CIBC Global Asset Management is looking for a high yield VP in Toronto [DBCC] $$$ House Republicans are complaining that the Fed is helping the economy too much, causing House Republicans not to want to help the economy [Real Time Economics] $$$ Could a Stock ETF Cloak Its Portfolio? [WSJ] $$$ Green Mountain Chairman Replaced After Stock Sales [WSJ] $$$ Nomura is growing headcount [Bloomberg] $$$ “It lived alongside our ancestors, and it probably ate them,” said Christopher Brochu, an associate professor of geoscience at the University of Iowa and a study author. “We don’t actually have fossil human remains with croc bites, but the crocs were bigger than today’s crocodiles, and we were smaller, so there probably wasn’t much biting involved.” [Bloomberg]