Write-Offs: 04.01.13

Author:
Publish date:

$$$Dark pools are in decline as trading moves back to exchanges [NYT]

$$$Stockton is not eligible for bankruptcy protection [Reuters]

$$$Goldman is getting out of all high-yield debt investing due to the Volcker Rule [WSJ]

$$$ U.S. banks have pretty much given up on trying to get around EU bonus caps [FT]

$$$ Bank directors are underpaid and overworked [NYT]

$$$ If you don't get into the college of your choice the best Plan B is to publish a racist op-ed in the Wall Street Journal [WSJ]

$$$Steinberg indictment raises questions about popular SAC computer program [Reuters]

$$$ Nasdaq is getting out of the electronic bond trading business [Bloomberg]

$$$ Argentina's debt exchange offer should work [Reuters / Felix Salmon]

$$$Michael Dell’s Letter to Employees: ‘Everything Is Fucked’ [WSJ]

$$$The FCC will never let people outside New York have a 212 area code [Bloomberg]

$$$Businessman Does His Work Lying On Bed Like Schoolgirl [Onion]

Related

Write-Offs: 10.23.12

$$$ Facebook Posts Loss, But Emphasizes Mobile Growth $$$ LightSquared Executives Get $6 Million in Bonuses Approved by Judge [Deal Journal] $$$ Bernanke QE3 Stocks Miss Greenspan Irrational Exuberance [Bloomberg] $$$ ‘I’m Quite Concerned About Fiscal Cliff’: Greenspan [CNBC] $$$ Argentina won't kneel down before 'vulture funds,' says Cabinet Chief [BA Herald] $$$ Gupta is no Rajaratnam. Gupta tipped inside information about one company to Rajaratnam, while Rajaratnam traded on confidential information collected from many sources. So you’d expect that Gupta would be treated differently when he appears for sentencing. Federal sentencing guidelines, however, suggest a prison term for him that’s similar in length to the 11 years Rajaratnam is serving. And prosecutors want a sentence within those guidelines, just as they want for the hundreds of defendants sentenced in federal courts nationwide every day. Because what Gupta and Rajaratnam did is so different, though, sentencing Gupta to anything like the time Rajaratnam is serving undermines the whole purpose of the sentencing scheme that prosecutors say they want to uphold. [Slate] $$$ For several years now, Marc Lasry, the co-founder of Avenue Capital, has decorated his mansion on East 74th Street with bloodied bodies hanging from the balcony, skeleton heads, a giant inflatable ghost, swinging bats and a life-size, clothed skeleton affixed to a tree on the sidewalk. One afternoon last week, tourists and children gathered to take pictures of a dancing skeleton beside the front door. It was singing “Super Freak.” (Perhaps in the spirit of competition, the hedge fund manager Philip A. Falcone and his wife, Lisa Maria, have lavishly decorated the exterior of their 27,525-square-foot house on East 67th Street even though it is currently a construction site.) [NYT via BI] $$$ Adveq, a leading asset manager investing in private equity and real asset funds globally, is looking for an investor relations and development representative for North America [DBCC] $$$ Former Soros CIO nears launch of Anderson Global Macro early next year [AR] $$$ Wall Street Is Rethinking Commodity-Trading Role [WSJ] $$$ This is a story about LBO companies getting equity financing from long-only investors to pay down debt to manageable levels before an IPO [Term Sheet] $$$ This is a story about a management consultant who is also a self-published poet [BBW] $$$ "My wife ... penetrated to the heart of the debate in a single sentence tonight when, only about 15 minutes into the exchange, she observed: 'Romney’s flag pin is much larger than Obama’s flag pin.'" [NR] $$$ Obama Takes Out Romney With Mid-Debate Drone Attack [The Onion] $$$ NYC-Based Soup Chain Offers Free Cup of Soup, Personal Service from a ‘Cunt’ Named Mary [Gawker]

Write-Offs: 03.01.12

$$$ Eurozone delays Athens rescue funds [FT] $$$ Loans to Banks Cool Debt Crisis [WSJ] $$$ European Leaders Challenged by Rise in Joblessness [NYT] $$$ An explanation of that Barclays tax trade, with cartoons [FTAV] $$$ Sofa King can no longer advertise prices that are "Sofa King low" in the UK [Language Log] $$$ Mitt Romney has worn a garbage bag for rain gear $$$ Fed's Dilemma: Markets Want Both Growth—And Stimulus [CNBC] $$$ Facebook seeking bigger credit line [Reuters] $$$ Unlike other types of complex financial transactions, insider trading prosecutions usually do not require jurors to develop sophisticated knowledge of the financial markets or securities valuation. There is not a statutory definition establishing its parameters, so it can be applied to a wide variety of transactions, and the crime does not have complicated requirements for proving a violation. Prosecutors are cracking down on insider trading because there's no law telling people what's illegal and unsophisticated jurors will convict [DealBook] $$$ Oprah's Book Club makes people read less [MR] $$$ The personal assistant of Paris Hilton's sister's hedge funder ex-husband Todd Meister was maybe dating him while she was stealing $1mm from him, or something like that [NYP]

Write-Offs: 12.11.12

$$$ Boehner, Obama Exchange New Cliff Proposals [WSJ] $$$ Greece's lenders left to plug 450 mln euro hole after buyback [Reuters] $$$ Dragon Systems Founders Take Goldman to Trial Over Advice [Bloomberg] $$$ For employees of Bloomberg LP, a megabonus deferred [CapitalNY] $$$ Cayman Island Police Arrest Premier Over Credit Card Use [Bloomberg] $$$ An institutional equity research, sales and trading firm is looking to hire a senior biotech equity research analyst in Greenwich [DBCC] $$$ "Traders wanting to place bets on the U.S. Consumer Demand Index — a monthly reading of household spending sentiment — can now pay to get the data before anyone else." [MarketBeat] $$$ Not All Companies Would Welcome a Lower Tax Rate [DealBook] $$$ Argentina debt case weakens incentives to settle [Reuters] $$$ There's a dinosaur named after President Obama v [Fox]