Write-Offs: 07.18.13

Author:: Dealbreaker
Updated:: Jan 14, 2019
Original:: Jul 18, 2013

$$$Detroit Files Biggest U.S. Municipal Bankruptcy [WSJ]

$$$Moody's Affirms U.S. Triple-A Rating [WSJ]

$$$Former boss disputes Tourre's description of mortgage deal [Reuters]

$$$Blackstone Second-Quarter Profit Triples as Fees Rise [Bloomberg]

$$$"I Had Sex With My Cat And Everyone Knows," Aggrieved Oklahoma Woman Explained To Arresting Officer [TSG]

$$$JP Morgan Set For Record Fine [WSJ]

$$$Dell postpones meeting on buyout as more votes needed [Reuters]

$$$ So what does the Wall Street menswear crew do to beat the blazing hot temps? Well… they loosen their ties. They wear lighter-weight suits. They look down at their smartphones a lot. [Fashionista]

$$$ Prosecutors said Ms. Zieminski and Mr. Forteau bought front-row tickets to an N.B.A. playoff game, field-level seats to a Jets football game and tickets to Walt Disney World in Florida, where Mr. Forteau proposed to Ms. Zieminski at Cinderella’s Castle. (“Make no mistake, Amanda Zieminski is no Cinderella and Clyde Forteau is far from Prince Charming,” Daniel M. Donovan Jr., the Staten Island district attorney, said in a statement.) The couple left a trail of their spending in photographs on Facebook. One shows them in a happy embrace while standing in front of the castle lighted with pink lights. Another shows a Cinderella cake etched with the words “Will you marry me?” sitting next to a glass slipper. Mr. Forteau’s brother, Jerome, 25, was also charged in the scheme. A Facebook page of the brothers’ rap duo, called Yung Squad, shows the two sitting in expensive seats at sporting events, seats that prosecutors said were paid for with stolen money. [NYT]

$$$ Eurozone delays Athens rescue funds [FT] $$$ 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]

$$$ After Knight Loss, SEC Looks to Tighten Trading Controls [WSJ] $$$ Knight Is Said To Have Spurned $500 Million Citadel Loan [Bloomberg] $$$ Standard Chartered questions New York action [Reuters] $$$ Gary Gensler wants to replace Libor with something transaction-based [NYT] $$$ Former SIGTARP Neil Barofsky took questions at Gawker [Gawker] $$$ "Please explain your rationale for the rainbow." [BI] $$$ Genworth financial is looking for a senior credit analyst in Stamford to cover private placements [DBCC] $$$ S&P Cuts Greece's Outlook to 'Negative' [CNBC] $$$ SkyBridge’s Scaramucci: Asia Is His Next Frontier [II] $$$ Facebook ventures into online gambling [FT] $$$ Gold Trove Found At Israel Castle Reveals Crusaders’ Forex Moves [Bloomberg] $$$ The top floors of the Woolworth Building will apparently become luxury condos [NYT]