Review Comments

Review Comments | 08.25.09

Phil_9 box_round 2.jpgUnfounded Rumor Of The Afternoon: Dick Fuld Staging Dress Rehearsal For Comeback? – If Fill made his way over to 345 Park to get his 9 box review and you didn’t inform us, we don’t even want to begin to tell you about the wrath that will ensue. [DB]
White House Raises Long-Term Deficit Forecast – “The Obama administration shaved $262 billion from its estimated 2009 federal budget deficit but said the U.S. will run a $9 trillion deficit over the next 10 years — $2 trillion more than it forecast earlier this year.” Can we all agree that the government needs to quit releasing stats? Great, thanks. [WSJ]
Brewers Planning to Raise Beer Prices – If you didn’t have an excuse to revolt before, you’ve got one now. [WSJ]
Bernie Madoff mistress Sheryl Weinstein to send copy of book to scammer in prison – The class on this gal continues to impress. [NYDN]

Review Comments | 08.21.09

geithner-tim-4.jpgGeithner: U.S. Dealings With Goldman Were Appropriate – “We have been forced to do just extraordinary things and, frankly, offensive things to help save the economy,” Mr. Geithner said. “I am completely confident that none of those decisions…had anything to do with the specific interest of any individual firm, much less Goldman Sachs.” We’re done here. [WSJ]
Informant in UBS Case Gets 40 Months in Prison – That was worth it. [DealBook]
Humble pie for bust billionaire – He called Russians not in the bil-club ‘losers’. Classy. [BBC]
Meredith Whitney Predicts More Than 300 Bank Failures – Meh. [Bloomberg]

Review Comments | 08.20.09

clunker.jpg‘Cash for Clunkers’ to End Monday – “The move comes as the department tries to get an accurate accounting of how much money is left in the program, formally called the Car Allowance Rebate System.” Auditors needed? [WSJ]
Benmosche Says He’ll Rebuild Units to Repay U.S. – That’s a bold statement. [Bloomberg]
Harold Ramis Answers History’s Most Burning Question – “One Microsoft Excel owner recently speculated that Bill Murray’s character spent a total of eight years, eight months, and sixteen days reliving the same 24-hour period in Groundhog Day.” Okay, which one of you is wasting your billable hours on this? [Vulture]
The problem with PowerPoint – Where do you start? [BBC]
In a first, Starbucks lowers price of some drinks – Everybody breathe…Okay, got get one. [Reuters]
Will Bank Regulators Diverge from GAAP? – Why the hell not? It’s not like anyone wants to converge with anyone else, anyway. [CFO]

Review Comments | 08.19.09

Dispute with E&Y forces Vantis delay – Accountants arguing against auditors. The incestuousness is making us sick. [FT.com]
UBS to Give 4,450 Names in Settlement – “[The IRS] said the criteria used to select the 4,450 accounts to be turned over is being kept confidential.” [WSJ]
Scholes, Merton Says Banks Should Value Assets Better [Bloomberg]
BBVA Likely Winner for Guaranty – “According to people familiar with the auction, the most likely scenario is that regulators would seize Guaranty’s banking unit, Guaranty Bank, and then sell all or most of it to the winning bidder. That is similar to the government’s handling of Colonial Bank, the Colonial BancGroup Inc. unit that failed last Friday and was sold to BB&T Corp.” [WSJ]
Business to fight SEC director nominations – The most shocking new of the day. [FT.com]
Citigroup’s Asset Guarantees to Be Audited by TARPYesterday’s victims. Here you go. [Bloomberg]

Review Comments | 08.18.09

favre.jpgBrett Favre Returns to NFL, Signs With Minnesota – Look, we don’t like to talk much sports here but would someone do something about this FOR THE LOVE OF GOD? [Bloomberg]
Backdating Likely More Widespread – “The study identified 141 companies with such advantageous options-granting practices that the researchers concluded they were highly likely to have been involved in backdating. Ninety-two of those companies never were publicly linked to investigations or announced earnings restatements related to backdating.” [WSJ]
UBS’s American Clients Face U.S. Criminal Probes – “U.S. tax authorities are expected to obtain the identities of potentially thousands of other American UBS clients soon as part of a legal settlement finalized last week between the bank and the U.S. and Swiss governments.” [WSJ]
Regulators urged Citi to replace CFO – In case you were short on the government meddling in private business affairs news. [FT.com]
Bernie Madoff’s Greatest Scam Of All – Size matters? Whose size? [Dealbreaker]

Review Comments | 08.17.09

facebook at work.jpgFacebook’s Evil, Genius Plan to Own Your Life – Was there ever any doubt that this was the plan? [The Atlantic]
Three Indicted in Major Hacking Case – “Three men were indicted Monday on federal charges of conspiring to hack into computer networks of major U.S. retail and financial organizations and stealing data related to more than 130 million credit and debit cards.” [WSJ]
Sordid Penn Station Needs Overhaul for $9 Billion Tunnel LinkFor the love of all that is good and holy why not use $9 billion get the human feces out of there? [Bloomberg]
A.I.G. to Pay New Chief Executive $7 Million a Year – Seven million times more than the last one. Appears reasonable. [DealBook]
Federal Prosecutors May Let Andy And Mark Madoff Enjoy Labor Day Weekend – Because it’ll be your last! [Dealbreaker]

Review Comments | 08.14.09

kelly_wallpaper8.jpg• Don’t forget to follow us on Twitter and join our group on Facebook!
It’s Official…Accountants are Normal – This woman is looking for an accountant. This could be you. Okay, probably not. [Accounting Nation]
Postal Clerk Admits $600,000 Stamp Theft – Beats the hell out of using an AK on the co-workers isn’t it? [WP]
Madoff Feeder Will Auction Assets “Tremont Group Holdings Inc., which lost more than $3 billion in client assets through investments with Ponzi mastermind Bernard Madoff, has reached a deal to auction off the bulk of its remaining hedge-fund assets.” [WSJ]
RIP, Colonial Bank, and good luck BB&T [JDA]
Auditor Independence: Will “Crisis” Cause Compromise? [Re: The Auditors]

Review Comments | 08.13.09

arrested.jpgFinally, something we can agree on [A Whole Lotta Nothing]
California To Stop Issuing IOUs As Budget Stabilizes – FTW Arnie. [NPR]
PwC, do you have some Colonial Bank sins to confess? [JDA]
UBS tax deal forged in sweat-drenched talks: source Morons should’ve known the a/c was going to get turned off. Chocolate probably melted too. [Reuters]
Rick Pitino Not Coming to Samford Law – Nope. He’s being extorted by a woman who he paid $3k to have an abortion. [ATL]

Review Comments | 08.12.09

ben_old.jpgFed Suggests Economy Is Stabilizing – “U.S. Federal Reserve officials on Wednesday left official interest rates near zero but suggested the economy is on more stable ground, more confirmation that the severe recession is either already over or will be very soon.” Does anyone know if this really means anything? Are we stabilizing in crappiness? [WSJ]
Save This Store – A case for big bonuses. [Floyd Norris/NYT]
Colonial: No 2Q report due to irregularities – FTW guys. [AP via Miami Herald]
Simplifed Reporting: Forgotten in the Crisis? – An advisory group gave the SEC a 170 page report to recommend how to simplify accounting rules. Anyone see a problem here? [CFO]
Presented Without Comment: Ragnar Danneskjöld Lives? Damn Swedes. [DB]
Rivkah, an Israeli woman, paid $32K to fly her dog, Orchuk, in business class from Paris to Tel Aviv – ‘He is my child, not a dog. And he deserves the best.’ Appears reasonable. [NYDN]

Review Comments | 08.11.09

thumbs down col.gifBankruptcy Filing Near for Taylor Bean – “The motion, submitted in the U.S. District Court for the Northern District of West Virginia, was filed on Aug. 6, one day after the privately owned Ocala, Fla., company ceased its lending operation and dismissed most of its work force.” No surprise, but that sucks guys. Try to keep truckin. [WSJ]
Benmosche Said to Start AIG Tenure With Croatian Trip “plans to spend part of his first month leading the insurer in Croatia on vacation, according to two people familiar with the situation.” The guy’s got stones, that’s for sure. [Bloomberg]
IRS Impostors Burglarize House “The IRS impersonators made off with a weed trimmer, chain saw, jewelry and a utility trailer.” [Web CPA via TaxProf Blog]
The Sweet Sixteen: A List of Audits I Need in my Life [Accounting Nation]

Review Comments | 08.10.09

oompa.jpgangelo_mozilo.jpgBank of America Will Pay $55 Million to Settle Claims – In other news, Angelo Mozilo still appears that he has, at least partially, descended from Oompa Loompas [Bloomberg]
U.S. recession seen ending in third quarter – Hold your breath in 3…2…1…[Reuters]
Huron Shareholders Sue over Accounting Scandal – Yes, P. Dubya is named. [Web CPA]
Swiss Cabinet Discusses UBS’s Legal Woes – It’s pretty clear that IRS is just going to nag the living crap out of the Swiss Government until they give the Service all the bloody names. [WSJ]
OMG I HATE MY JOB!! Facebook bitching about work will get you insta-fired. – Best to stick to the trite statements about your weekend plans, hating Mondays, how nice/crappy the weather is, etc. [Adland]

Review Comments | 08.07.09

mary_schapiro_1218.jpg• Don’t forget to join our group on Facebook!
Enforcement push gives SEC image boost Let it be known that we still think very lowly of the SEC. [FT.com]
Ethics Panel Clears Dodd in Countrywide Refinancing If only Chris Dodd had that Angelo Mozilo glow there might have been more of an obvious connection. [Bloomberg]
A Defense of Bank of America’s Chief FTW Ken Lewis! [DealBook]
Former Rabbi Charged in $35M Tax Fraud Scheme 3,300 tax returns using the names of prison inmates. [Web CPA via TaxProf Blog]
D.C. Circuit Slams IRS, Opens Door to Billions of Dollars Telephone Excise Tax Refunds [TaxProf Blog]

Review Comments | 08.06.09

bill-clinton.jpgNorth Korea Wanted Only Bill Clinton for Mission to Free Women – And Bill Clinton wanted the mission to free women. Worked out great. [Bloomberg]
Senate Votes 68-31 to Confirm Sotomayor – Senator Stuart Smalley Al Franken presided over the vote, which Bill O’Reilly will hate, which we, in turn, will love. [ATL]
AIG’s Hank Greenberg Pays $15 Million to End SEC Suit [Bloomberg]
Unemployed Man Getting Really Good At Unemployment Not surprisingly, it’s pretty easy. [The Onion]

Review Comments | 08.05.09

stanford10.jpgWho Will Defend R. Allen Stanford? – There’s always…hmmm, anyone? [DealBook]
Judge Orders Sale of Creation Science Theme Park to Pay Evangelist’s Tax Debts Agnostic judge probably. [TaxProf Blog]
The alleged grifter who duped corporate giants – The fairer sex, taking it to the man. [Fortune]
A Battle of Goliaths: Michael Bloomberg and His Gun Control Group Take on the NRA – At least this is a fair match. [Washington Post]
Huron’s ex-CEO cashed out $8.3 million since last July But it wasn’t about the money. [Greg Burns/Chicago Tribune]
IRS Commissioner Joins alliantgroup [Press Release]
Bernard Madoff and the Solo Auditor Red Flag [Ross D. Fuerman]
Going Concern is now on Facebook! Join the group.

Review Comments | 08.04.09

bill-clinton.jpgKim Pardons Journalists – Arkansas moxie does it again. We never doubted it for a second. [WSJ]
SEC accuses GE of accounting fraud – Cue a smug but probably still unsatisfied Bill O’Reilly. [FT Alphaville]
PayPal Users Hit by Global Service Outage – How will anyone pay for the Lehman schwag? [WSJ]
SEC set to target flash trading – “The US Securities and Exchange Commission is preparing to clamp down on lightning-fast “flash” trades made on electronic trading systems amid growing concerns that the practice puts some investors at a disadvantage.” And disadvantages are not the American way. [FT.com]

Review Comments | 08.03.09

ruthie.jpgRuth Madoff Can’t Spend $100 Without Telling Trustee – Don’t forget to call before buying that Metrocard Ruthie. [Bloomberg]
Investor Ross: ‘Washington Is The New Wall Street’ – Blasphemy. [NPR]
BofA settles Merrill bonus case with SEC for $33 million – Classic case of not admitting or denying charges, just throwing money at the problem. End of story. [Reuters]
A.I.G. Appoints a New Chief Executive – The self-loathing is contagious today. [DealBook]
Antidepressant Use in U.S. Doubled Over Decade to 10% in 2005 – Depressing news. Where the hell is our Prozac? [Bloomberg]

Review Comments | 07.31.09

clunker.jpgHouse Votes to Extend ‘Clunkers’ Program – We just printed more money. It’s fine. [WSJ]
U.S. House Passes Bill Allowing Ban on Incentive Pay None of that printed money will be going to bankers. [Bloomberg]
Court Orders Shorter Sentence For Ex-Qwest CEO – Might have been worth it had there been some adultery involved. [NPR]
Nothing like a little shameless PR… – Deloitte providing accounting services, pro bono [Accounting Nation]

Review Comments | 07.30.09

cuomo.jpgN.Y. Attorney General Details Bonuses At Bailed-Out Banks – Cue populist outrage [NPR]
Subpoenas Issued to Goldman Sachs, JPMorgan, U.S. Senator Says – YES! Political theatre to ensue [Bloomberg]
CNBC Viewership Down 28%DB has some ideas on how to get a boost (maybe literally) [Zero Hedge]
Exxon Reports Lowest Profit Since 2003 – “earnings of $3.95 billion” Meh. [WSJ]
Glenfiddich 50-Year $16,000 Whisky Tempts Investors – Who loves scotch? [Bloomberg]

Review Comments | 07.29.09

ruthie.jpgTrustee Sues Ruth Madoff for More Than $44 Million – You knew it was coming Ruth. Forget living in Manhattan. [WSJ]
Fed Says Most Districts Report Slower Pace Decline – TRANSLATION: Things suck less than previously [Bloomberg]
No More Bank Deals for Wilbur Ross? – WTG SheBair [DealBook]
Obama expects GM, Chrysler to repay loans – Don’t hold your breath BO [Reuters]
FASB Chief to speak on fair valueSNOOZE [Accountancy Age]
Lights Go Out in New Delhi as Billionaire Ambani Brothers Feud – Two feuding billionaires, living with their Mom. The house is probably large enough to house every Indian citizen but still…AWESOME. [Bloomberg]

Review Comments | 07.28.09

obama_point.jpgPhibro mum after White House slams reported $100 million payday – “Phibro LLC, the energy trading arm of beleaguered bank Citigroup, was mum Tuesday after the White House criticized a reported $100 million pay plan for its top trader Andrew Hall as ‘out of whack.'” [Reuters]
Sprint-Nextel to acquire Virgin Mobile USA – “Sprint Nextel, the third-largest US mobile network operator, unveiled a $420m deal on Tuesday to acquire Virgin Mobile USA, the wireless phone company in which Sir Richard Branson’s Virgin Group is the largest shareholder.” [FT.com]
House Panel Approves New Rules on Executive Pay – “Marking an important victory for the White House, a congressional committee approved on Tuesday legislation closely resembling the Obama administration’s proposal that attempts to impose new restraints on executive pay.” [New York Times]
Baldness Not a Requirement for Working at Goldman Sachs [Daily Intel]
Backdating Returns to the Spotlight – “The IRS released new tax guidance this month related to so-called backdated stock options. But discounted options are still not considered ‘qualified performance based compensation.'” [CFO.com]

Review Comments | 07.27.09

bfrank.pngU.S. Rep. Frank sees finance reform by year-end – Weekend pool parties with friends will remain fluid until the end of summer [Reuters]
Loans Shrink as Fear Lingers – “The total amount of loans held by 15 large U.S. banks shrank by 2.8% in the second quarter, and more than half of the loan volume in April and May came from refinancing mortgages and renewing credit to businesses, not new loans, an analysis by The Wall Street Journal shows.” [WSJ]
N.F.L. Grants Vick an Opening – Unfortunately for Vick, he’ll remain completely unmarketable for endorsement purposes [NYT]
U.S. Economy: New-Home Sales Up 11%, Most Since 2000 [Bloomberg]
SEC to Limit ‘Naked’ Short-Selling – “The Securities and Exchange Commission issued new rules to govern short selling, promising investors new information about the volume and velocity of negative bets placed against companies but dropping a requirement that hedge funds disclose details of short positions to regulators.” [WSJ]
&bull U.S. Said to Focus on UBS Banker Visits to Clients [DealBook]

Review Comments | 07.24.09

geithner-tim-4.jpgGeithner urges end to ‘dumb regulation’ – “Tim Geithner, Treasury secretary, said there was “a lot of dumb regulation in our country” and urged lawmakers to act quickly in spite of resistance from the financial industry and other regulators to the administration’s plan.” [FT.com]
California Senate Approves Budget Plan – “The California Senate early Friday approved a plan to close a $26 billion budget shortfall through steep spending cuts and a medley of one-time solutions and accounting moves.” Creative accounting, Cali? FTW! [WSJ]
Buffett: I’m keeping my Goldman Sachs warrants – But thanks for asking. [Reuters]
Madoff Trustee Battles Israeli Charity Over $4.7 Mln – “A charity for homeless and runaway Israeli children that lost money in Bernard Madoff’s fraud told a U.S. judge that the trustee liquidating the con man’s business wrongfully rejected its $4.72 million claim in the case.” [Bloomberg]

Review Comments | 07.23.09

porn.jpgCouncil fired Scott Janke after learning of marriage to porn star Anabela Mota aka Jazella Moore – Last we checked, this was still America and bagging a porn star is in the Declaration of Independence or something [NYDN]
Dozens Arrested in New Jersey Corruption Probe – “Federal agents swept into New Jersey towns across several counties Thursday morning, charging 44 people, including three mayors and religious leaders, in a federal investigation into public corruption and money laundering.” [WSJ]
Wall Street Journal Coverage Of Crisis Finally Gets Serious – Cankles. Page one. Yes. [DealBreaker]
Microsoft revenue misses, shares tumble – In other news, Bill Gates is still rich. [Reuters]

Review Comments | 07.22.09

beer.jpgAmazon to Acquire Zappos.com for $847 Million – “Amazon says it is paying for the acquisition with 10 million shares of stock worth approximately $807 million. In addition, Amazon said it will provide Zappos employees with $40 million in cash and restricted stock units.” [Bits/NYT]
UK ‘is losing 52 pubs each week’ – Where will the UK accountants go for lunch? [BBC]
Who needs audit? [Accountancy Age]
Chrysler says dealer legislation could force liquidation – “Chrysler Group could again face the prospect of liquidation if legislation aimed at reversing its decision to terminate contracts with 789 dealers becomes law, a company executive said on Wednesday.” [Reuters]
Goldman Sachs Payments to U.S. Give 23% Return to Taxpayers – LB says “you’re welcome” [Bloomberg]

Review Comments | 07.21.09

Ben_Bernanke.jpgBernanke Sheds Light on Exit Strategy – “Federal Reserve Chairman Ben Bernanke shed light Tuesday on the toolkit the central bank can employ to unwind its crisis measures, but he made clear to lawmakers that the economy remains too weak to start tightening monetary policy.” Better than no exit strategy [WSJ]
CIT Expects Loss of $1.5 Billion, May Seek Bankruptcy – “CIT Group Inc., the 101-year-old commercial lender seeking to avoid collapse, said it expects to report a loss of more than $1.5 billion for the second quarter and may need to file for bankruptcy if it’s unable to tender for notes maturing next month.” [Bloomberg]
Apple’s quarterly profit tops forecasts – The good results… [Reuters]
Yahoo sees drop in income from operations this quarter – …and the bad. [Reuters]
Which Of Alan Greenspan’s More Quotable Quotes Will Bite Him In The Ass On The Big Screen? [DealBreaker]
The Goldman Way to Celebrate: a Parody – Well played LB. Well played. [DealBook]

Review Comments | 07.20.09

ernst_young.jpgLawyer: Ernst auditing helped sink Hinsdale’s Superior Bank – Plaintiff Alan Schein is still claiming conspiracy on E&Y’s part. [Daily Herald]
Securities Lawsuits Plummet in 2009 – Because they’ve all been filed already [CFO.com]
Stanford case spreads its tendrils – For a Ponz that simply offered CD’s with out of this world interest rates, the international law and jurisdictional aspects will turn your head in knots. [FT.com]
TD Ameritrade Settles Securities Case – “TD Ameritrade Inc. agreed to buy back $456 million of auction-rate securities from its clients as part of a settlement with New York Attorney General Andrew Cuomo, the Securities and Exchange Commission and Pennsylvania securities regulators.” [WSJ]

Review Comments | 07.17.09

Swedbank Losses Show Deeper Troubles in Baltic – Souls as collateral in Latvia. Enough said. [DealBook]
Citibank, BofA Results May Not Point To Recovery – Duh. [NPR]
Fox Biz: Jorge Posada’s Wife Talks Healthcare Reform – Much more interesting perspective than say, anyone in DC [Clusterstock]

Review Comments | 07.16.09

Lawmakers End Questioning Of Sotomayor – “The Senate Judiciary Committee wrapped up Thursday its questioning of Supreme Court nominee Judge Sonia Sotomayor. Republican senators asked Sotomayor again whether she would rule on cases based on her beliefs, and she assured them she would apply the law and court precedent.” [NPR]
Donaldson, Levitt Back FASB Off-balance-sheet Rules – “An ‘investors’ working group’ co-chaired by former Securities and Exchange Commission heads William Donaldson and Arthur Levitt Jr. has called for new Financial Accounting Standards Board rules on off-balance-sheet transactions and securitizations to be implemented ‘without delay.'” Without delay to the FASB means, sometime before the next decade. [CFO.com]
Jamie Dimon on CIT’s Troubles – Natch, he’s cool with them biting the dust [DealBook]

Review Comments | 07.15.09

US to unveil hedge fund legislation – “The Obama administration will on Wednesday unveil draft legislation that will require all US hedge funds with more than $30m in assets under management to register with the Securities and Exchange Commission.” You knew it was coming. [FT.com]
Private Equity Industry Says It Poses No Systemic Risk – “The private equity industry’s main lobbying group said Wednesday it supported legislation that would require all firms of a certain size to register as investment advisers with the Securities and Exchange Commission, but urged lawmakers to avoid onerous regulations.” [DealBook]
Fed Upgrades Economic Projections, but Expect Worse Unemployment – Minutes did not show the over/under of minutes it takes for Hank Paulson’s dismembering of all the members of the Oversight and Government Reform Committee hearing tomorrow. [WSJ]

Review Comments | 07.14.09

HSBC Sued Over $578 Million ‘Fake’ Profit From Madoff – Simply stated, clawbacks are a bitch. [Bloomberg]
House Health Bill Slaps 5.4% Tax on Top Earners – “House Democrats Tuesday proposed new taxes on the wealthy to help fund an expansion of government health benefits. But the bill also includes a mechanism to peel back the tax increases if the revenue isn’t needed to fund the bill.” [WSJ]
IASB promotes ‘fair value’ rule change – “A radical shake-up of how banks and insurers report the value of financial instruments has been proposed by international accounting rule-setters in a bold attempt to resolve an intense dispute at the heart of efforts to prevent a repeat of credit crisis.” Don’t hold your breath on this. Banks won’t be down for it. [FT.com]

Review Comments | 07.13.09

US budget deficit at $1 trillion – But the trade deficit is at a nine year low. Hoo-RAH! [BBC]
Ronald Crawford Named SEC’s First Chief Counsel For Diversity Initiatives – Because M Schape’s troops are sick of talking about stuff they don’t do right, they needed to make an announcement that wouldn’t have anything to do with actual watch-dogginess. [SEC.gov]
Even in Downturn, a London Banker’s Party Goes On – Even Homer Simpson has said, “It’s a party. It doesn’t have to make sense” [DealBook/NYT]

Review Comments | 07.09.09

Economists Oppose More Stimulus – Your rebuttal, Professor Krugman [WSJ]
Fed’s Bullard Says He Doesn’t See Economic Recovery Faltering – “We are going to have just the right policy to get the right inflation rate,” Bullard said today in a Bloomberg Television interview. “I do not buy into the stories about the Fed making a mistake one way or the other going forward.” You got a like a guy with confidence I guess [Bloomberg]
Madoff Trustee Says 15,400 Claims Were Filed – “The final tally of claims from victims of Bernard L. Madoff’s vast Ponzi scheme comes to more than 15,400, up from 8,800 claims filed at the end of June, according to an update provided on Thursday to the federal bankruptcy court in Manhattan.” Who’s putting this off? Did some just hear about this story? Not at the top of the do list to call Irv Picard and say “yeah, we had some cash in there”? [DealBook/NYT]

Review Comments | 07.08.09

Six charged in shares fraud case – “Six employees of the Wall Street firm Sky Capital Holdings have been charged with carrying out a $140m (£87m) investment fraud in the US and Britain.” [BBC]
AIG in talks with MetLife over Alico – In case you didn’t hear, AIG owes some money [FT.com]
Hedge Fund Buys Buffett Lunch A Year After Losing 66% – Guess they really need some pointers from the Oracle. [Clusterstock]

Review Comments | 07.07.09

Oil Price to Match Record $147 in Three Years, Pickens Says – And he says in ten years it will be $300 a barrel. Anyone listening? We didn’t think so [Bloomberg]
Pope Calls for New Economic Structure – Shit your holiness, you want the job? [Washington Post]
Greenberg’s Starr Prevails in AIG Court Fight – “A jury on Tuesday rejected claims that a sister company to American International Group Inc., at the direction of Maurice R. “Hank” Greenberg, AIG’s former chief executive, improperly seized control of millions of shares of the insurer’s stock.” [WSJ]

Review Comments | 07.06.09

New GM to Be ‘Fully Launched’ This Month, Rattner Says – “A new company containing General Motors Corp.’s top assets is expected to be ‘fully launched’ by month’s end under a new board and majority ownership of the U.S. and Canadian governments, President Barack Obama’s top auto adviser said Monday.” [WSJ]
California Downgraded By Fitch – This could be the beginning of something bad…Moody’s, your move. [Clusterstock]
Tribune Said to Finalize Deal to Sell Cubs – The new era of losing begins. [DealBook/NYT]

Review Comments | 07.02.09

•In New York City, Fewer Murders on Rainy Days – It’s got to have something to do with those ubiquitous black $3 umbrellas. They’re like security blankets. [New York Times]
•U.S. marshals begin seizure of Madoff property in NY – Quaint penthouse, UES for those cool with living with the ghosts of charities and elderly Jews [Reuters]
•Arnie’s IOUs will pay 3.75 per cent – Ken Lewis will be making his counter-offer shortly [FT Alphaville]

Review Comments | 07.01.09

No Evidence Found to Charge Ruth Madoff – The aggression will obviously continue. [WSJ]
Consumer Interest ‘Huge’ in Clunker Plan, LaHood Says – Call us party poopers but it seems like manufactured consumption. [Bloomberg]
Pimco: Consumer “greed” hibernating, fear rules – Greed will be good again. Don’t you worry. [Reuters]

Review Comments | 06.30.09

So You Say You Want To Be Melissa Francis’s Pool Boy? [DealBreaker]

Stanford Stays in Jail as Judge Revokes Bail
[DealBook/NYT]

Bank of America accused of anti-consumer practices
– If by, “anti-consumer practices”, you mean Ken Lewis hoarding the Maker’s Mark, then he pleads no contest. [Reuters]

Review Comments | 06.26.09

Lewis Retains Support of Key BofA Executive – [DealBook/NYT]

What the Big 4 do
– “I explained that in my opinion the Big 4 firms have two fundamental purposes in life when it comes to tax. First they exist to undermine the tax revenues of governments. Second they exist to redistribute the wealth of the world from those who are poorest in the communities in which they work to those who are the richest in the communities in which they work.” Ouch [Tax Research UK]
Madoff Family Feud: Ruth, Sons Won’t Attend Monday Sentencing – Probably not a bad move…[ABC News]

Review Comments | 06.24.09

Get Ready, Folks, ‘Cause This Is The Greatest Late-To-Work Excuse You’ve Ever Heard – [The Onion]

Ex-Treasury Chief Paulson to Testify on Merrill Deal, Panel Says
– Cue that Law & Order noise [Bloomberg]

Sanford Says He Had Extramarital Affair
– Just a plain-jane affair. No hookers, no staffer’s wife. Just went to the Southern Hemisphere. Meh. [WSJ]

Judge Defers Ruling on Madoff’s Restitution
– Sentencing still on for June 29. There might be some angry people there. [DealBook]

Review Comments | 06.23.09

A Lost Decade for Jobs – [Business Week]

All-electric car-sharing debuts in Baltimore
– Baltimore? [Miami Herald]

SEC eyes shorter maturity limits for money funds: source
– Real reactionary. [Reuters]

White House to Abandon Spy-Satellite Program
– This will not reduce the paranoia [WSJ]

Review Comments | 06.22.09

The Public Is Losing Confidence That Stimulus Will Help Economy – Shoots/Shmoots [Clusterstock]

Google is evil
– Or simply incorrect [Paul Krugman/NYT]

Beach reading: Chesapeake’s annual meeting transcript
– Not the whole thing, obv. We wouldn’t do that to you. [footnoted.org]