The US banks didn’t like the British weak at the knees response to public anger…
David Kiely, internet sensation, Miranda Kerr fan and Macquarie Bank employee…
David Kiely, repidly becoming Australia’s best known banker, is taking some involuntary time out…
Always wished you weren’t too small fry for hedge fund investing…?
Despite all the hype and all the posturing a serious banker exodus is not that likely…
Stocks tanked and the pundits came out…
John Mack will step down from his position as chief of Morgan Stanley early next year, CNBC’s Charlie Gasparino reports. He will be replaced by James Gorman.
Gorman joined Morgan Stanley in 2006, to become the president and chief operating officer of the Global Wealth management Group. He has been co-president of Morgan Stanley since 2007. Prior to joining Morgan Stanley, Gorman held several senior executive positions at Merrril Lynch.
Related PostsJohn Mack’s new contract with Morgan Stanley…Morgan Stanley Chief John …
Didn’t Tony Blair play one too. Perhaps we should get him back to solve the UK’s financial crisis.
Related PostsWho is the Richest Man in the World: Warren Buffett or Bill Gates?Gates and Buffett Fall Down ‘World’s Richest’ Behind Mexican Carlos Slim HeluBrazilian President Blames Blue-Eyed White People For The Financial CrisisBuffett Berates Wall StreetBlackstone Defends FT.com Password Sharing Charge
In case you were wondering where on earth all that money went that you shoveled into the black hole known as AIG, we now have a pretty good idea.
* $13 billion of it went to Goldman Sachs
* $12 billion went to Soc Gen
* $12 billion went to Deutsche Bank
* $9 billion went to Barclays
* $7 billion went to Merrill Lynch
…
Some say Wall Street still doesn’t get it:
NYT: “People come here because they want to work hard and get paid a lot for working hard,” one investment banker said Friday as he wended his way, lunch bag in hand, through the World Financial Center. “I think there’s a disconnect between Wall Street and Main Street.”
There’s definitely a disconnect.
But perhaps is it us bankers?
Related PostsWall Streeters Ignore The Baying MobBuffett Berates Wall StreetWall Street 2: As Inspirational as the …
The Russian may no longer be the wealthiest in the football world, but at least he has his hot girlfriend and their place on the moon.
CNN: Russian billionaire Abramovich has slipped to third place behind Manchester City’s new owner Sheikh Mansour bin Zayed Al Nahyan.
Sheikh Mansour, a member of the Abu Dhabi royal family, has a fortune of £15 billion ($22.04B), according to the Football Rich List, researched and published by FourFourTwo magazine.
Abramovich has …
Carlyle Group, the world’s second largest private equity fund, is laying off 10% of its worldwide workforce, or about 100 people. Carlyle has $91.5 billion in assets under management.
“In response to extraordinary market conditions, Carlyle has taken measured steps to balance its cost structure with the current investment climate,” the company said.
Related PostsABN Amro culls 6,500…UBS Cull 9k…Merrill Lynch + BoA culling jobs….Insurer Cooper Gay to share £170m windfall. Lloyds Banking cull continues.Morgan Stanley to secure supertanker to store crude …
File this one under “Unfortunate Ad Placements.” On a day that the Dow dropped 680 points (7.7 percent), MarketWatch ran the Jack Daniels banner ad in the screenshot above (sent to us by reader Scott Murff). The ad shows the “countdown to the close” of the market in minutes and seconds, suggesting that might be a good time for a drink. Juxtaposed with the headline “Bears Refusing To Hibernate,” it takes on additional meaning.
Related PostsLloyds’ Eric Daniels Waives BonusLloyds’ …
The New York Times chronicles a now-familiar tale of incompetence and greed that led to the (all but) destruction of another legendary global financial services firm:
Oblivious CEO (Chuck Prince)
Idiot risk manager who assured oblivious CEO that everything was great until the day it wasn’t (David Bushnell)
Inadequate risk controls, wet-noodle risk managers pushed around by big swinging dicks who made 100X as much money
Trading boss incented …
From The Economist:
An important reason why the American economy has been so resilient and recessions so mild since 1982 is the energy of consumers. Their spending has been remarkably stable, not only because drops in employment and income have been less severe than of old, but also because they have been willing and able to borrow. The long rise in asset prices—first of stocks, then of houses—raised consumers’ net worth and made saving seem less necessary. And borrowing became easier, …
NBC News reports Obama will nominate: Tim Geithner.
Related Posts“Goldman Sachs In Talks To Acquire US Treasury Department”Confirmed: Obama’s economics teamGeithner’s Expletive TiradeTreasury Passes the Bonus Buck to ShareholdersLehman the London-Washington Cock-up
Most major global markets now point to deflation
- Consumers are not buying houses because they think that house prices will be lower
- Consumption has screeched to a halt
- 1% growth in online commerce
Paul Kedrosky points to a graph on Bloomberg that does seem to suggest that deflation may be more of a reality than widely expected.
Related Posts“Some Bankers May Have Knowingly Sold Complex Assets Based on Flawed Valuations”Bruiser Bernie fights over stocksProfit Pressure = Ditched Dividends so Everyone Buy One …
some more action from our pals at bankruptcybill
Related PostsBankruptcy Bill NEEDs your supportBankruptcy Bill – Strip #8 – General Motors BankruptcyBankruptcy Bill: Bap-kuh-pahOrganic Bankruptcy..Bankruptcy Bill: HEADhunters
Hello from Bankruptcybill
Related PostsBankruptcy Bill NEEDs your supportBankruptcy Bill – Strip #8 – General Motors BankruptcyBankruptcy Bill: Bap-kuh-pahOrganic Bankruptcy..Bankruptcy Bill: HEADhunters
We buy their cars, helping them to annual revenues of £5.2 billion, we give them the cache of the uber trendy and make them mystical in the eyes of the civilian populace, and this is how they treat us. You should be aware of Porsche’s recent moves to squeeze the short sellers on Volkswagen’s shares which came to light this week.
Related PostsVDub and Porsche make outHedgie Fined £140k for Manipulating Value of Trading PositionsThe Hot 50 HedgiesScandal: Hedge Fund …
