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Write-Offs: 07.24.13

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$$$Ergen charges in, offers $2.2B for Falcone’s spectrum [NYP]

$$$ On Wednesday, SEC lawyer Matthew Martens zeroed in on a January 2007 email Mr. Tourre wrote indicating that Paulson & Co. was acting as the sponsor of the transaction and laying out details of the proposed transaction. "I wasn't trying to confuse anybody," Mr. Tourre said, referring to the email, which went to executives at bond insurer ACA Financial Guaranty Corp. ACA helped choose mortgage bonds underlying the transaction. Dressed in a black suit, Mr. Tourre leaned forward in his chair as he answered questions in order for his voice to be picked up by a courtroom microphone. At one point, he accidentally knocked over a carafe of water as he moved a large binder of documents. "Is there a difference, in your mind, in something being inaccurate and false?" Mr. Martens said. "There is," Mr. Tourre said. [WSJ]

$$$'Neighbor vs. neighbor' in US cities, Whitney says [CNBC]

$$$Detroit can enjoy the protections of bankruptcy, including immunity from lawsuits related to the case, a federal judge ruled, extending that shield to Michigan Governor Rick Snyder. [Bloomberg]

$$$ There is no First Amendment right for students to write of their physical feelings for their college instructors, a federal judge ruled Tuesday. Joseph Corlett sued Oakland University, in Michigan, after he was suspended over a "Hot for Teacher" essay in his writing journal. In the essay, he quoted the Van Halen song and then goes on to talk of his affection for an instructor. He writes of her physical characteristics, and says that there's "no way I'll concentrate in class," when he can see "a sexy little mole on her upper lip beckoning...." In another entry, he says he is "not a maniac for every female," but that he tries to "find something attractive about everyone." [IHE]

$$$Fed Chief Choice Shapes Up as Race Between Summers, Yellen [WSJ]

$$$S.E.C. Says Texas Man Operated Bitcoin Ponzi Scheme [Dealbook]

$$$Woman Fingers Ex-Girlfriend In Sex Toy Theft [TSG]