Write-Offs: 04.12.13

$$$ Gold Sinks Into Bear Territory [WSJ] $$$ JPMorgan Switches Risk Model Again After Whale Loss [Bloomberg] $$$ US Senate scales back insider law [FT] $$$ Spain Eases Rules in Move Seen Helping Convicted CEO [WSJ] $$$ Ex-Credit Suisse trader pleads guilty in MBS case [Reuters] $$$ Mayo Tells Wells Fargo Execs Results ‘Stunk’ [Deal Journal] $$$ When options trading ahead of deals raises eyebrows [Reuters] $$$ Notes from the DoubleLine Lunch with Jeffrey Gundlach, Spring 2013 [Reformed Broker] $$$ Doubts over new CDS futures [IFR] $$$ High-Speed Trader Said to be Considered for SEC Post [Bloomberg] $$$ Billionaire Koch Wins $12 Million Verdict in Wine Trial [Bloomberg] $$$ Sarasota Man Steals Ten Cans Of Axe Deodorant From Publix Store, Assaults Security Guard, Broken Bicycle Chain Foils Getaway [Global Dispatch]

Author:
Updated:: Jan 14, 2019
Original:: Apr 12, 2013

$$$Gold Sinks Into Bear Territory [WSJ]

$$$JPMorgan Switches Risk Model Again After Whale Loss [Bloomberg]

$$$US Senate scales back insider law [FT]

$$$Spain Eases Rules in Move Seen Helping Convicted CEO [WSJ]

$$$Ex-Credit Suisse trader pleads guilty in MBS case [Reuters]

$$$Mayo Tells Wells Fargo Execs Results ‘Stunk’ [Deal Journal]

$$$When options trading ahead of deals raises eyebrows [Reuters]

$$$Notes from the DoubleLine Lunch with Jeffrey Gundlach, Spring 2013 [Reformed Broker]

$$$Doubts over new CDS futures [IFR]

$$$High-Speed Trader Said to be Considered for SEC Post [Bloomberg]

$$$Billionaire Koch Wins $12 Million Verdict in Wine Trial [Bloomberg]

$$$Sarasota Man Steals Ten Cans Of Axe Deodorant From Publix Store, Assaults Security Guard, Broken Bicycle Chain Foils Getaway [Global Dispatch]

$$$ Fed's Early Minutes Release Went to Some Banks [WSJ] $$$ Ex-SAC Trader Gets Court Permission for African Honeymoon [DealBook] $$$ Dimon Sees More Regulator Scrutiny After Whale Loss [Bloomberg] $$$ FBI found KPMG auditor via golf buddy, his lawyer says [Reuters] $$$ Goldman deal with union group lets Blankfein keep dual roles [Reuters] $$$ Underdog Undergrads From Jersey City Win Investing Competition [MarketBeat] $$$ Dodd-Frank 'Written in Anger,' Needs Fixing: Chamber CEO [CNBC] $$$ Chaos of rulings on toxic CDOs means uncertainty for investors [Reuters] $$$ Bank Investors Press Breakups to Add Value, Burnell Says [Bloomberg] $$$ 'Warehouse Games': Base Metals Supply Crunch on the Horizon? [AOL Energy] $$$ S&P, TrueEX Team Up on CDS Futures [WSJ] $$$ Beyonce and Jay-Z Cuba Trip Called ‘Educational’ by Treasury [Bloomberg]

$$$ Dow Hits Highest Close Ever [WSJ] $$$ 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]

$$$ Italy Vote Shows No Clear Winner, as Berlusconi Rises [WSJ] $$$ 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]

$$$ Goldman Fined for Failing to Block Trader’s $8.3 Billion Bet [Bloomberg] $$$ Key SEC Holdout in Money-Fund Overhaul Reverses Stance [WSJ] $$$ Canada Approves Cnooc-Nexen Deal [WSJ] $$$ JPMorgan nears £500m bonus tax deal [FT] $$$ Rant: At Top Law Firms, a Class Conflict During Bonus Season [BBW / Elie Mystal] $$$ Lloyd bought a house [DealBook] $$$ The 200 West Street Goldman cafeteria (1) is really very good, (2) features food from a former banker [DealBook] $$$ 100 Women in Hedge Funds names Ivanka Trump to its board, consists of 10,000 women, mostly not in hedge funds [AR] $$$ UBS is looking for a credit officer for securities backed lending in New Jersey [DBCC] $$$ Morgan Stanley's 2013 adviser pay to reward new loans [Reuters] $$$ Brokers Must Disclose Bonuses to Clients in Finra Proposal [Bloomberg] $$$ "It’s always a mistake to use microeconomic intuition in macro," quantitative easing edition [Scott Sumner] $$$ Whale’s Trade in Comeback as Junk Fervor Fades [Bloomberg] $$$ "If Harvard wishes to retain its primary existence as a gigantic profit-maximizing hedge fund ..." [American Conservative via John Carney] $$$ Ivy League Cracks Down as Students Spiral Out of Control [Bloomberg] $$$ "I am tired of fooling around, he said. I’m forming a legal team. We have case studies, an office outside Lexington. He swept the strips off the table and held the beak in the air. We’re looking for a poet to write our anthem!" [The Awl]

$$$ Foreclosure Settlement Amounts to Peanuts for Most Borrowers [AB] $$$ FBI probes trading as KPMG quits as Herbalife, Skechers auditor [Reuters] $$$ Big Dell Shareholder Prefers Two Rival Bids [DealBook] $$$ Ackman may be eyeing exit as JC Penney bet in tatters [Reuters] $$$ The leverage story banks want to hide [FT] $$$ DirecTV Adds DogTV Channel to Appeal to Canine Audience [Bloomberg] $$$ Regulators Are Concerned About Municipal-Bond Deals [WSJ] $$$ Activist Investors Find Allies in Mutual, Pension Funds [CNBC] $$$ Pimco's Gross Turns Positive on 10-Year Treasurys [WSJ] $$$ Swap traders’ morning fix under scrutiny [FT] $$$ Former Vice Mayor of Tennessee Town Accused of Terrorizing Dozens of Women with ‘Drive-By Masturbation’ [Gawker]

$$$ Former Barclays trader "has cooperated" with Libor probe [Reuters] $$$ Towards a transaction-based Libor [FTAV, and the Wheatley Review] $$$ Carl Levin not letting up on Goldman Sachs [Politico] $$$ SEC Asked Herbalife Same Questions Einhorn Raised [Deal Journal, earlier, also] $$$ Here’s Rex Ryan Wearing An “I’d Hit That” Shirt [Deadspin] $$$ How would you like to be a financial industry recruiter at The Bachrach Group in New York? [DBCC] $$$ Icahn accuses Forest of hiding poison pill agreements [Reuters] $$$ Ex-Carlyle Consultant Gets Probation For Insider Trading [Bloomberg] $$$ Job Churn Hits Insider Probe [WSJ] $$$ The first known use of "OMG" was in a 1917 letter to Winston Churchill [BuzzFeed]

$$$ Euro Zone Economy Shrinks, Darkening Outlook [WSJ] $$$ Greece seeks two-year austerity extension [FT] $$$ Knight Upgrade Triggered Old Trading System, Big Losses [WSJ] $$$ Goldman executives win dismissal of mortgage, TARP lawsuit [Reuters] $$$ Reservoir poised to seed ex-Goldman trader Buck Ratchford with $200M+ [AR-Alpha, related] $$$ You should really be drinking more at work [Economist] $$$ United Airlines Lost My Friend's 10 Year Old Daughter And Didn't Care [Bob Sutton] $$$ A Chicago hedge fund is looking for a senior quantitative strategist to develop commodity futures high frequency trading strategies [DBCC] $$$ In Ski-Resort Bankruptcy, FDIC Tries Role of Lender [WSJ] $$$ Steve Cohen, George Soros Purchased Facebook Shares [Deal Journal] $$$ Rakoff better able to review SEC-Citigroup pact [Reuters] $$$ BATS Proposes Plan to Offer Discounts on Retail Orders [Reuters] $$$ Biden Says Romney Would Put Middle Class ‘Back In Chains’ [Bloomberg] $$$ The head of Hungary's far-right anti-Semitic party found out he's Jewish [AP]

$$$ More Probes Add to Barclays's Woes [WSJ] $$$ Corzine Searches for What's Next [WSJ] $$$ London Whale’s Boss Martin-Artajo Sued by JPMorgan [Bloomberg] $$$ “The growth in [European government bond] futures volumes is unbelievable,” said one senior credit trader. “The same short interest still exists – economically it’s identical. If you thought the short interest was hurting the market then it makes no sense to say cleared derivatives are good and OTC derivatives are bad.” [IFRE] $$$ Remember: it's not Halloween if you're in New Jersey [nj.gov via Counterparties] $$$ Dear College Kids, If You Dress in an Ironically Racist or Insensitive Costume, You May Get Punched In the Nose Like I Did [Gawker Updates] $$$ A private equity firm is looking for an associate in San Francisco [DBCC] $$$ When Is There a Strong Transfer Risk from the Sovereigns to the Corporates? Property Rights Gaps and CDS Spreads [NY Fed] $$$ Citigroup Staff Uprooted for Weeks as Sandy Slams Wall Street [Bloomberg] $$$ On Mayor Bloomberg's sign-language interpreter: "The perception that we non-signers have that these hand movements and facial expressions are particularly 'animated' and 'expressive' is precisely due to our lack of experience with them as linguistic features." [LL] $$$ Bloomberg on hurricane sushi, part 2 [BBW, earlier] $$$ Baby walrus rides out hurricane at NYC aquarium WITH VIDEO [MSNBC]