The SEC Is Too Lax on CEO Health Disclosure – Because someone’s personal health is everybody’s business [Business Week]
Indicted Billionaire to Appear in Court in Texas – It’s showtime: “On Thursday, the 59-year-old Texas financier was expected to have a chance to formally declare in court he is innocent of charges his international banking and financial empire was really just a Ponzi scheme.” [DealBook/NYT]
Study Ties Madoff Losses to Charity’s Board Size – [DealBook/NYT]
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Scoping | 06.29.09
State Street may face SEC charges over mortgages – “The Boston-based company said on Monday that Securities and Exchange Commission staff issued a ‘Wells’ notice to its banking unit on June 25 related to disclosures and management by State Street Global Advisors of “active” fixed-income strategies in 2007 and in prior periods.” [Reuters]
UBS Said to Seek U.S. Tax Deal in Weeks – “With a payment of 3 billion to 5 billion Swiss francs, UBS hopes in the next two weeks to settle a lawsuit over the tens of thousands of American clients suspected of tax evasion, the Swiss newspaper Sonntag reported. Analysts on Monday, however, questioned the figure.” [DealBook/NYT]
A Unified Bank Regulator Is a Good Start – Penned by rock star CEO, Jamie Dimon [WSJ]
Scoping | 07.28.09
• House Members Have More Questions for Goldman – “In a two-page letter Monday, the House members, including Representatives Alan Grayson, (D-Fla.), Ron Paul (R-Texas), Maxine Waters (D-Calif.) and Walter B. Jones (R-NC), asked the Federal Reserve to explain why it granted a special exemption to Goldman which allowed it to take on more risk over the past few quarters.” Get on it Max. [DealBook]
• Swine flu boosts handwash sales – …And shrinks specializing in germaphobes [BBC]
• Sprint to Buy Virgin Mobile USA; I.B.M. to Buy SSPS [DealBook]
• Kerviel Lawyer Says SocGen Knew of Trading Positions – “Jerome Kerviel, the trader blamed by Societe Generale SA for a 4.9 billion-euro ($7 billion) loss last year, repeated arguments in a court filing that his superiors knew about his activities.” [Bloomberg]
• Traders Blamed for Oil Spike – “The Commodity Futures Trading Commission plans to issue a report next month suggesting speculators played a significant role in driving wild swings in oil prices — a reversal of an earlier CFTC position that augurs intensifying scrutiny on investors.” [WSJ]
Scoping | 07.22.09
• BlackRock chief attacks Wall Street earnings – Somebody’s jealous. [FT.com]
• Credit Card Disputes Tossed Into Disarray – “Two major arbitration firms are backing away from the business of resolving disputes between customers and their credit-card and cellphone companies, throwing into disarray a controversial system that prevents unhappy consumers from filing lawsuits.” [WSJ]
• Federal reserve chief heads back to Capitol Hill– “Federal Reserve Chairman Ben Bernanke heads back to Capitol Hill Wednesday, where he’s likely to face more tough questions about the central bank’s extraordinary actions to rescue the economy and its ability to take on even more responsibility.” [AP via Miami Herald]
• Morgan Stanley Loss Misses Estimates on Debt Costs – Creative accounting can’t help MS…[Bloomberg]
• Wells Fargo Says Bad Loans Rise in Second Quarter; Shares Drop – …Or Wells [Bloomberg]