Write-Offs: 06.03.13

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$$$New York Sues HSBC [WSJ]

$$$We are dead I tell you,” Bruno Iksil, a London-based trader at JPMorgan Chase & Co. (JPM), messaged an associate on March 23, 2012. “It is hopeless now.” Iksil, a Frenchman who would soon become known as the London Whale because of the size of his trades, had lost $44 million on corporate-credit bets three days earlier and was down more than $500 million for the year, Bloomberg Markets will report in its July issue. He and junior trader Julien Grout, under pressure from their manager, had tried to hide the extent of losses that would swell to more than $6.2 billion, the bank’s biggest trading blunder ever. “They are going to destroy us,” Iksil wrote to Grout that Friday in one of hundreds of e-mails, instant messages, transcripts of recorded conversations and other documents released in March by the U.S. Senate’s Permanent Subcommittee on Investigations after a nine-month probe. [Bloomberg / Dawn Kopecki / Michael J. Moore]

$$$AIG, Prudential Named Systemically Important by Panel [Bloomberg]

$$$Porsche Ex-CFO Found Guilty of Fraud [WSJ]

$$$4 llamas involved in car crash in SW Florida [AP]

$$$Jain Says Fed Should Start Withdrawing Stimulus After Rally [Bloomberg]

$$$Warren Buffett Lunch Bids Quickly Top Apple CEO Cook's Coffee [CNBC]

$$$‘Cronut’ Craze Creates Black Market for Tasty New Treat [TIME]

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Write-Offs: 07.26.12

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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]