Write-Offs: 05.21.13

$$$The Nightmare for SAC's Steven Cohen Won't End Any Time Soon [BusinessWeek / Sheelah Kolhatkar]

$$$SAC Investors Fleeing As Cohen Faces Prosecutors [NYP]

$$$ For Anthony Scaramucci, chief executive of the hedge fund firm SkyBridge Capital and a friend of Mr. Cohen’s, sticking with SAC has as much to do with friendship and loyalty as it does its superior performance. “A lot of guys, when bombs are going off, you figure out very quickly who your friends are in the trenches,” Mr. Scaramucci said. “Most friends run from bullets, but your best friends run toward them. I have enormous amount of respect for the guy, and I think he’s misunderstood.” [Dealbook]

$$$Fed officials dampen talk of imminent bond buying cutback [Reuters]

$$$ He walked into a strip club, waved an invalid police badge and they waived the cover charge for him and a friend. Police say Darren Philip Walker, 24, came into Bare Assets on West New Haven Avenue in Melbourne with an Ammomack County Sheriff’s Office badge he bought off the internet while he was employed with the agency. The club’s manager told Brevard County Sheriff’s Deputies that Walker claimed to be an undercover federal agent and wanted to question and arrest a woman named “Mason.” When confronted, Walker said he had not been employed by any law enforcement agency since 2011. [Florida Today]

$$$Gupta Makes Case For Appeal [WSJ]

$$$Fannie Mae Said to Plan $2 Billion CMBS Offering to Cut Holdings [Bloomberg]

$$$Record python, nearly 19 feet, killed in South Florida [NP]