• Stanford wins ruling in battle over fraud case defence – Court ruled that Stan can use proceeds from a corporate insurance policy to pay for his defense. Can we get on with the circus trial now, please? [FT]
• A Case Pitting Spin Against Fraud – “How far can Wall Street firms go to put a positive spin on bad news?” Used car salesmen should probably pay attention. [WSJ]
• BofA urged to seek external chief executive – Big institutional investors want fresh blood and not the next KL. [FT]
• Citi fined amid tax crackdown – $600k for derivatives that were partly designed to avoid taxes is supposedly going to scare other banks into compliance. [FT]
• Iceland Shrinks 8% as Prices Increase 11% in Deepest Recession – “The stock market has lost 97 percent of its value, and more than 780 companies have buckled under the weight of foreign currency loans as the krona plunged.” So, that’s not good. [Bloomberg]
• Improving your credit vs paying down debt – Americans can’t win. [Felix Salmon/Reuters]
Related Posts
Preliminary Analytics | 08.07.09
• Obama likely in no rush to nod on Bernanke’s fate Apparently this is the one thing that doesn’t need addressed immediately. [Reuters]
• U.S. Payroll Losses Slow, Unemployment Rate Declines 247,000 lost, 9.4%. Is that green shoots? [Bloomberg]
• France targets bankers’ bonuses – Soon, pols are going to have to find something else to pander to the masses with. [BBC]
• AIG Posts $1.82 Billion Profit, First Since 2007 – You can just sign that over to the us, thankyouverymuch. – U.S. Taxpayer [Bloomberg]
• Willis Group Sued by Stanford’s Venezuelan Clients – Sure, why not? [DealBook]
• Judge Approves Lawyer Fees in Madoff Liquidation – In other news, Madoff victims are still pissed. [DealBook]
Preliminary Analytics | 10.20.09
• PwC: Sour Economy Sparks Divestitures – “Each of the Big Four accounting firms have scrutinized the corporate divestiture market over the last three quarters and have come up with largely the same conclusions.” Anyone surprised by this? [CFO]
• Galleon Clients Abandon Ship – “Galleon’s chief operating officer, Rick Schutte, directed portfolio managers Monday to shed some positions in a “coordinated, orderly fashion,” according to a Galleon trader. The trader said he wasn’t told to sell everything but to begin raising some cash.” [WSJ]
• NYC Judge Tosses Suit Against Biden’s Son, Brother – The non-Joe Bidens had been sued for $10 mil by an investor who says he was double-crossed on a purchase of a hedge fund firm. [AP via NYT]
• Huron, others could get caught in Galleon Group problems – Raj held nearly 6% of Huron in mid-August according to the Trib. [CT]
Preliminary Analytics | 09.24.09
• Omaha’s Oracle of Style Sings the Praises of a Chinese Suit – And probably will take the opportunity to spread the folksy seed around. [WSJ]
• Employee of Perot Affiliate Charged With Insider Trades on Takeover Talks – “[Reza] Saleh began buying call options, which give the holder the right to buy stock at a specific future time and price, between Sept. 4 and Sept. 18, according to the SEC complaint filed in U.S. District Court in Dallas. Around that time, several Perot executives and board members, including Mr. Perot, became aware of the takeover negotiations, the SEC alleged.” [WSJ]
• Acorn Sues Over Video as I.R.S. Severs Ties – And the Fox News grave dancing begins…[NYT]
• CFOs plan to invest in technology – When the economy recovers, sayeth Bob Half. [Washington Business Journal via DBJ]
• Microsoft says no plans to buy Electronic Arts Yet. [Reuters]
• The beginning of the end of meaningful regulatory reform – Banks 1 gazillion, Congress 0 [Felix Salmon/Reuters]