February 2009

Hot Links: Zombie Banks, the Trader Tax & Doug Kass

Hot Links for Weekend Reading On The Big Picture this week, Barry Ritholtz explained the definition of a Zombie Bank, complete with a table of companies that currently qualify as zombies. TheStreet.com‘s James “Rev Shark” DePorre has certainly been busy this week with the launch of his petition to combat the “Trader’s Tax“.  It seems…

TGIF: Presenting the Ripping Martesians, My New Favorite Band

After one of the ugliest weeks in the history of capitalism, I’d like to lighten things up and introduce you to my new favorite band, The Ripping Martesians.  These kids are talented and way cooler than those freaky little Jonas Brothers.  Watch as they tear through a few covers and then blow the roof off…

Scumdog Billionaires: 2 More Hedge Fund Ponzi Schemes This Week

Chant with me, y’all:  Pon-ZI! Pon-ZI! Pon-ZI! Pon-ZI! PON-ZI! PON-ZI! Wait til you hear what these Pillars of Society were up to! Prince Charming #1: Westgate Capital Management’s James Nicholson, had a fake accounting firm since 2004.  He set up a “virtual office” and had calls to this phantom auditor forwarded to himself!  In the…

Vikram Pandit: I Will Survive

[youtube=http://www.youtube.com/watch?v=ZBR2G-iI3-I]   The New York Post is reporting that Vikram Pandit, current CEO of Citigroup Inc. (C) will survive in his position if the bank gets nationalized.  Below is Vikram Pandit’s rendition of Gloria Gaynor‘s “I Will Survive“: _____________________________________________________________________________________ At first I was afraid I was petrified Kept thinking they would never let Our credit…

CEO-Swapping at UBS and Credit Sweeeeesse

Ah, Switzerland.  The land of fine time pieces, exquisite chocolate and institutionalized tax evasion. There’s been a switcheroo as regulators on two continents engage in a light wrist-slapping at UBS over the bank’s role in the Madoff fraud and the let’s-arm-our-unregistered-advisors-with-encrypted-laptops-to-help-Americans-cheat-Uncle-Sam affair. Troubled UBS has brought on the architect of Credit Suisse‘s recent turnaround, Oscar…

Ben Shoval is Funny…I Can Prove It!

I know, I know…Finance Comedy is kind of a geeky sub-genre.  You know what?  I don’t care… I’m a finance geek and I like laughing.  That said, let me introduce you to Ben Shoval, a hedge fund guy by day and stand up comic by night who is funny whether you work on The Street or…

Interview With the Ghost of JP Morgan

  Last night,  I was working late in my office in the Helmsley Building, blocks away from the old JP Morgan Library on Madison Ave.  A stiff wind blew through the window and before I knew it, I was face to face with the Ghost of J. Pierpont Morgan! Below is our conversation: The Reformed…

Behold the Power of the 13D

  SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. –)* (Name of Issuer) …………………………………………………………………………………………………. (Title of Class of Securities) …………………………………………………………………………………………………. (CUSIP Number) …………………………………………………………………………………………………. (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) …………………………………………………………………………………………………. I plan to do a lot of posts…

Whole Foods to Shorts: "Drop Dead"

I was in a Whole Foods store on Super Bowl Sunday earlier this month stocking up on microbrews (Dogfish Head Ale) and gourmet potato chips (North Fork).  The place was packed, which was weird because half the other stores in the shopping center had “going out of business signs” in the windows. I didn’t think…