• Ernst & Young settles Akai case – No deets disclosed. [FT]
• Chase and Bank of America Revise Fee Policies – Under duress of course. [NYT]
• Moody’s accused of issuing inflated ratings: report – Ratings were bupkis, why wouldn’t their numbers be? [Reuters]
• J&J CFO: Biggest Nightmare Is Public Health Option – It’s not a nightmare for everyone. [CFO]
• Former eBay Chief Running for Governor of California – Good luck. Seriously, you’ll need it. [DealBook]
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Preliminary Analytics | 10.14.09
- Caleb Newquist
- October 14, 2009
• Thanks to everyone that has participated in our survey so far. If you haven’t yet, you can expect Chuck at your cubicle at some point today. Unless you do it now by going here.
• Wall Street On Track To Award Record Pay – “Workers at 23 top investment banks, hedge funds, asset managers and stock and commodities exchanges can expect to earn even more than they did the peak year of 2007, according to an analysis of securities filings for the first half of 2009 and revenue estimates through year-end by The Wall Street Journal.” – Tooo long. [WSJ]
• Geithner Aides Reaped Millions Working for Banks, Hedge Funds – This is nice. It’s been for too long since we had some good wholesome populist outrage. [Bloomberg]
• Bernie Madoff Breaks His Prison Fight Cherry – Apparently someone said “Dow 3,000” and Bern just flipped. See also DB. [JDA]
• Bloomberg Wins Bidding For BusinessWeek – For $5 mil. Estimates were that it was worth $1 bil back in 2000. Ouch. [BW]
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Preliminary Analytics | 09.15.09
- Caleb Newquist
- September 15, 2009
• Citigroup Explores Bid to Pare U.S. Stake – “Citigroup officials said they planned to raise outside capital in order to repay the outstanding bailout funds. Treasury officials responded to Citi that they didn’t object to the company paying back Washington as long as Citi first raised offsetting capital” In other words, everyone calm down. It’s more like Citi actually got the stones to call up the Treasury. At this point, Treasury is still a little grossed out. [WSJ]
• Bank of America Ruling Leaves SEC With Few Options for Pursuit – Judge Rakoff: ‘the proposed consent judgment was a contrivance designed to provide the SEC with the façade of enforcement and the management of the bank with a quick resolution of an embarrassing inquiry.’ So much for winning anybody’s respect Schapester. [Bloomberg]
• A Tough Crowd on Wall Street – Shockingly, very few lined up to congratulate the President on the speech, which probably caught him off guard a little bit. [NYT]
• How accounting changes can create a world of investment banks – So, accountants will be blamed for the next crisis too? Awesome. [FT Alphaville]
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Preliminary Analytics | 08.10.09
- Caleb Newquist
- August 10, 2009
• Paulson’s Calls to Goldman May Have Tested Ethics – “During the week of the A.I.G. bailout alone, Mr. Paulson and Mr. Blankfein spoke two dozen times, the calendars show, far more frequently than Mr. Paulson did with other Wall Street executives.” Paging Representative Waters. [DealBook]
• Textbooks Offered for iPod, iPhones – “A provider of subscription e-textbooks for college students is making its 7,000-plus titles accessible on Apple Inc.’s iPhone and iPod Touch as interest heats up in the digital-textbook arena.” [WSJ]
• States End Up Losers in Gambling Pullback – Now, everyone loses! [WSJ]
• Expert: Madoff Victims May Wait 15 Yrs. For Full Payout – “…some non-wealthy clawback subjects paying $50 to $100 a month in an installment plan.” [New York Post]
• Even sex tough to sell in this recession – BAIL-OUT! BAIL-OUT! BAIL-OUT! [Greg Burns/Chicago Tribune]