$$$UBS To Pay $50 Million In Crisis-Related Settlement [WSJ]
$$$Billionaires’ Battle Over LightSquared Breaks Into the Open [Dealbook]
$$$Wall Street watchdog says scammers going retro with phone calls [Reuters]
$$$Hedge funders split on NYC mayoral race; Loeb likes Quinn, Icahn boosts Lhota, and Lasry sits out [HFI]
$$$Billionaire Soros Backs De Blasio in New York Mayoral Race [Bloomberg]
$$$SAC prosecutor hits the media trail [Dealbook]
$$$ Fiscal Cliff Talks to Get Fast Track [WSJ] $$$ William Dudley: Solving the Too Big to Fail Problem [FRBNY] $$$ EU Should Reach Deal on Greek Aid Next Week, Grilli Says [Bloomberg] $$$ Work Still Needed to Reduce Repo Market Risks: Fed Official [MarketBeat] $$$ Taliban Reveal Identities of Their Mailing List Members [ABC] $$$ Do Not Expect a Hug From Mayor Bloomberg [DI] $$$ Prudential is looking for a senior financial writer to do product marketing in Newark [DBCC] $$$ How Hostess Failed: Hedge Funds vs Unions [NetNet / John Carney] $$$ Don't worry, Twinkies will survive [Term Sheet] $$$ Man Group to Sell Lehman Legal Claims for $456 Million [DealBook] $$$ Lee Buchheit on Greek debt reprofiling with Felix Salmon [Reuters] $$$ Judge Tells Drug Trafficking Defendant He Can’t Have Another Joint ‘For Old Time’s Sake’ [ATL] $$$ Britain has invaded all but 22 countries [kottke]
$$$ Citigroup Said to Cut Investment Bankers’ Bonuses by 20% [Bloomberg] $$$ HSBC to Pay $249 Million in Foreclosure Settlement [WSJ] $$$ "For most of its history, Dell appears to have followed advice from investment banks — advice that ill-served long-term shareholders to the benefit of corporate executives. The company paid out billions of dollars to buy back stock, and only last year began to distribute some of the money to shareholders who chose to stick with it rather than bail out. It has spent more money on share repurchases than it earned throughout its life as a public company. Most of those repurchases were at prices well above current levels." [NYT] $$$ Matt Yglesias on the Fed: "There's no solving for the desired result. There's just a presentation of a scenario and then a bunch of chit chat and discussion of operational details." [Slate] $$$ Vibrator With 3 Balls Can’t Win EU Trademark, Court Says [Bloomberg] $$$ Levin Report on JPMorgan Whale Said to Fault Regulator [Bloomberg] $$$ Assured Guaranty Cut by Moody’s on Muni Insurance Outlook [Bloomberg] $$$ All Dutch securities have been dematerialized [FTAV] $$$ Chinese labour pool begins to drain [FT] $$$ A sonnet version of the Diff'rent Strokes theme song [VC]
Economists convinced on rate hike; Warren Buffett of China is missing; "Naked man who carjacked a Federal Express delivery truck--but then fled the vehicle when he could not figure out how to drive it--has been arrested"; and more.
Forex Tumult good for banks; "How 300 Emails Led to a Summer Job on Wall Street"; Snow Kone Joe vs. Mr. Ding-A-Ling Ice Cream Truck; and more.