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]
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Write-Offs: 04.08.13

$$$ J.C. Penney Ousts Ron Johnson, Rehires Myron Ullman [WSJ] $$$ Capital markets: Is Citi the new golden child of Wall Street? [Euromoney] $$$ White Confirmed as SEC Chairman [WSJ] $$$ A.I.G. Seeks to Bar Greenberg From Suing U.S. on Its Behalf [DealBook] $$$ David Stockman's dystopia [Fortune] $$$ Wrestling’s Private Equity Champion [DealBook] $$$ Google Glass Already Being Banned from Strip Clubs [BetaBeat] $$$ The Fine Line Between Political Intelligence and Insider Trading [DealBook] $$$ Hedge Funds Wagering on Fannie Reincarnation [Bloomberg] $$$ As Deadline Looms, Few Companies Sign Up to Trade Swaps [WSJ] $$$ Costs of derivatives clearing stack up for buy-side [Reuters] $$$ Volcker: Central banks are too aggressive [CNN] $$$ Market Crash Likelihood Goes Up If Stocks Continue to Rally: Marc Faber [CNBC] $$$ Science proves women like men with bigger penises [NBC]

Write-Offs: 04.30.12

$$$ Here are Dick Fuld's call logs from March through September of 2008. Tim Geithner, Hank Paulson, Lloyd Blankfein, Jamie Dimon, Ken Lewis, Rodge Cohen, Raj Rajaratnam ... [Jenner] $$$ The quants and derivatives traders of Occupy Wall Street [WaPo] $$$ Spain in talks over ‘bad bank’ scheme [FT] $$$ [@JeffMacke] $$$ Duke University grad doesn't want to waste her unique talents working on Wall Street, works in management consulting instead [DealBook, earlier] $$$ A leading M&A boutique is looking for a class of 2011 or 2010 FIG associate [DBCC] $$$ Large layoffs loom on Wall Street [Fortune] $$$ SEC Charges Mother, Daughter, and Their Attorney in Illegal Penny Stock Scheme [SEC] $$$ Barnes & Noble’s Nook Unit Is Worth More Than Its Parent Company [DealBook] $$$ “If mortgage REITs were not delivering to investors they would not be in a position to raise capital. Last I checked, the United States was still a capitalist country despite efforts to the contrary.” This quote from the CEO of mortgage REIT Annaly is not encouraging [Bloomberg] $$$ "But the debate between Krugman and Paul on Bloomberg TV this afternoon was more awkward than awesome, like a special episode of the Sopranos with the character of Tobias Funke." [DI] $$$ This novel by a former Lehman MD begins "The weight of the cufflinks was palpable." [Fiction Studio]

Write-Offs: 09.14.12

$$$ As His Fraud Trial Opens, Ex-UBS Trader Is Accused of Brazen Gambling [DealBook] $$$ Thanks, Goldman, for Giving My Peers Their Lives Back [Bloomberg] $$$ FDIC’s Hoenig Wants Simpler Rules Than Basel III [Deal Journal] $$$ Occupy Wall Street's one-year anniversary demonstrations start tomorrow [The Awl] $$$ Hard-money types talk too much about the gold standard, not enough about the bacon standard [CNBC] $$$ "I'm kind of a Snooki fan. Look how tiny's she's gotten. She's lost weight. She's energetic. Just her spark-plug personality is kind of fun." - Mitt Romney [DI] $$$ TIAA-CREF is looking for an insurance wholesaling director in Boston [DBCC] $$$ Miller Says U.S. Should Issue Simplified Volcker Rule [Bloomberg] $$$ Private equity needs more strategic deals [Term Sheet] $$$ Home Depot is leaving China, "where cheap labor has stunted the do-it-yourself ethos and apartment-based living leaves scarce demand for products like lumber" [WSJ] $$$ Allocating Risk Through Contract: Evidence from M&A and Policy Implications [Harvard Law] $$$ Naked German monk found wandering Bavarian forest after tripping on some bad berries [NYDN]

Write-Offs: 05.22.12

$$$ EXCLUSIVE: Here's The Inside Story Of What Happened On The Facebook IPO [BI / Henry Blodget] $$$ "A senior Nasdaq Stock Market official told customers Tuesday afternoon that it would have pulled the plug on Facebook Inc.'s initial public offering had it known the full extent of the technical problems that plagued its systems." [WSJ] $$$ Occupy Wall Street Alternative Banking Group Files Amicus Brief on Side of Judge Rakoff in SEC v. Citigroup; the brief is very clever [NC] $$$ A former high frequency trader proposes eliminating the subpenny rule [Chris Stucchio] $$$ Auction of Reagan's Blood Sparks Outrage [Reuters] $$$ Prudential Capital is looking for an investment associate in Chicago/Minneapolis [DBCC] $$$ At Hearing, Regulators Discuss JPMorgan Investigation [DealBook] $$$ Zuckerberg’s Property Status, Post-Marriage [NYT] $$$ Disclosure by Short-Sellers Would Improve Market Clarity [DealBook / Steven Davidoff] $$$ "A Silicon Valley tech executive faces charges after authorities say he put fake bar codes on hundreds of Lego sets at various Target stores so he could buy the toys at steeply discounted prices, then sell them online for thousands of dollars in profits." [AP]

Write-Offs: 09.27.12

$$$ Banks’ M&A earnings drop to Lehman low [FT] $$$ Spain's crisis budget aims at spending cuts not tax rises [Reuters] $$$ There isn't really a Spanish deposit flight [FTAV] $$$ SEC Charges Investment Bank Analyst with Illegally Tipping College Friend About Nonpublic Merger Deals [SEC] $$$ Lawyer for Ex-Goldman Programmer Criticizes Prosecutors and Firm [DealBook] $$$ "Hedge Fund Pivot Joins BTG to Defy Bacon’s Investment Desert" is a real Bloomberg headline [Bloomberg] $$$ Canada cheese-smuggling ring busted [BBC] $$$ TCW is looking for a credit analyst in LA [DBCC] $$$ RIM's Earnings Beat Expectations; Shares Up 16% [WSJ] $$$ Geithner Urges an Overhaul of Rules on Money Market Funds [DealBook] $$$ SEC’s Gallagher Calls for Floating Price for Money Market Funds [Bloomberg] $$$ Mortgage rates are at all-time lows [CR] $$$ Houses on "Places" cost more than houses on "Streets" [Atlantic Cities] $$$ This happened [Twitter]

Write-Offs: 03.22.13

$$$ Inside a Star Hedge Fund: Lots of Big Bets, Built Fast [WSJ] $$$ Fed pushes banks to ignore rivals when setting bonuses [Reuters] $$$ JPMorgan Board Backs CEO Dimon as Chairman, Pays Zames More [Bloomberg] $$$ The Senate Drafts the SEC's Case Against JPMorgan [BBW] $$$ "A J.P. Morgan Chase employee climbed onstage at a black-tie dinner held on Wall Street Thursday night and accepted an award on behalf of the embattled bank for 'best crisis management.' ... Kathy Hu, an executive director in J.P. Morgan’s investor relations department, accepted the award and quipped: 'Can I just say, "Crisis? What crisis?"' J.P. Morgan beat out nominees Chevron Corp., which struggled with a refinery fire last year, and St. Jude Medical Inc., which battled heart-device problems." [Deal Journal] $$$ Pope calls Argentine kiosk owner to cancel paper delivery [CNA] $$$ Hey, Let Harvard Alumni Have Their Fun This Morning [DI] $$$ Deutsche Bank mulls raising fixed pay to counter EU bonus rules [Reuters] $$$ Judges’ Spat Strikes a Chord Among Deal Makers [DealBook] $$$ "Now some distressed debt investors get to find out what exactly it is you buy when you buy American-issued debt in a company incorporated in the Cayman Islands and doing business in China. I suspect the answer will be 'not much.'" [DealBook] $$$ "Henry Blodget is, in all seriousness, an artist of the internet whose methods should be studied and analyzed for future generations." [Gawker] $$$ "Finally I should note that the rectal gonorrhoea is the reason for my odour." Investment research! [Bronte Capital]

Write-Offs: 03.20.12

$$$ A 'Corzine Rule' for Funds [WSJ] $$$ BofA Merrill Lynch prunes Canadian workforce [Financial Post] $$$ Fed Is Ready to Act if Europe Falters Again: Bernanke [Reuters] $$$ Chinese prison labor is making your internet gaming whatsits [Guardian] $$$ Surely everyone from Occupy Wall Street to Ron Paul will be convinced by this and we'll never hear about the gold standard again [BI] $$$ One person's Op-Ed is another's opportunity? A major investment bank is currently looking to expand its equity derivatives flow desk with a senior salesperson and a senior flow trader [DBCC] $$$ So long, BarCap [DealBook] $$$ BarCapJust Barclays thinks large European banks would have passed the US stress tests [DealBook] $$$ Santorum: "I don't care" about unemployment rate [Reuters] $$$ "Heand several colleagues were accused of selling unsuitable and overly risky investments. The case, regulatory records show, involved the stocks of Stearns & Lehman, a specialty food products company." That does sound risky. [NYT] $$$ "The only thing that Internet Explorer is good for at all is downloading other browsers." This is true, but watch this Microsoft commercial anyway. [Matt Yglesias / Slate]

Write-Offs: 05.17.12

$$$ Santander, BBVA Among Spanish Banks Downgraded By Moody’s [Bloomberg] $$$ Spain denies bank run reports [FT] $$$ Big banks need extra $566bn, says Fitch [FT, FTAV] $$$ Icahn Takeover of CVR Gets Support From 55% of Holders [Bloomberg] $$$ JPMorgan's Dimon says will testify before Congress [Reuters] $$$ Occupy Wall Street is staging an intervention with Jamie Dimon [NC] $$$ BlackRock is looking for a performance analyst in Princeton [DBCC] $$$ At CME, an Uproar Over Trading Hours [WSJ] $$$ SEC Probes Role of Hedge Fund in CDOs [WSJ] $$$ Which Biglaw Firm Accidentally Released Embarrassing, Unredacted Documents About Goldman Sachs? [ATL] $$$ Floyd Norris: "For market makers, who may buy unwanted securities that customers want to sell, hedging may be wise and prudent. But it will also be short term, until the bank trades out of whatever position it took on in the course of making the market. But if banks hedge long-term investments, as JPMorgan evidently did, the hedge is also likely to be long term. It will consist of buying something that, in normal times, should move in the opposite direction of their investment. The result is that they will be making convergence trades that are indistinguishable from what Long Term Capital Management did. Given the size of the big banks, they will have to do so in huge volumes that can come back to haunt them if markets move the wrong way." [NYT] $$$ The Boldface Names on the Witness List for Gupta’s Trial includes Lloyd Blankfein, Gary Cohn, Ken Chenault, Raj Rajaratnam, James Barnacle, and Adam Smith [DealBook]