Gretchen Morgenson on the pure evil that exists in the nexus between private equity and affordable housing.
Andrew Cuomo
They Won't Have Ken Lewis To Kick Around Anymore
The big breaking news this evening is the resignation of Bank of America‘s embattled CEO Ken Lewis (damn, I’ve had to type the phrase “embattled CEO” a lot this year) which will take effect on January 1st. There was plenty of speculation that this would happen as investigations into the Merrill acquisition scandal began to…
More Hot Links: World's Longest Bridge
More Hot Links for Weekend Reading… Legendary Las Vegas impresario Bob Stupak has passed. (WSJ) Is NBC really a core business for GE or is it, in fact, up for sale, along with CNBC? (ZeroHedge) Cool: The legendary trading culture of Susquehanna International. (InfectiousGreed) A behind the scenes look at Andrew Cuomo, the New York…
Ken Lewis: Should I Stay or Should I Go (reprise)
[youtube=http://www.youtube.com/watch?v=bYxkvAwIjzQ] With trouble coming from both the SEC and the NY Attorney General over the Merrill Lynch acquisition, Ken Lewis is faced with a big decision – should he stay or should he go as CEO of Bank of America? With apologies to the late Joe Strummer, here’s Kenny doing his rendition of The Clash‘s…
Hot Links: Venom Mickey
Stuff I’m Reading this Morning… FDIC’s Sheila Bair makes the case against having just one banking super-regulator in this morning’s op-ed. (NYT) Are you following the JunkDEX? Guess what the components are…lol. (VIXandMore) Check this huge graphic out: The Anti-Fed Fact Sheet. (VisualEconomics) Chinese ADR’s outperforming actual Chinese stocks…’cause we westerners know better what your…
Who Else Got Pushed Around by Hank Paulson?
I just sat down and digested the B of A/Merrill Lynch Merger Investigation letter and I felt like I was reading excerpts from a Godfather IV script treatment. Ken Lewis is no innocent, but Hank Paulson comes off like a f@ckin’ psycho in Andrew Cuomo‘s letter to the SEC and TARP oversight committee. Cuomo basically…
A Day in the Life: Hank Greenberg
A Day in the Life of Maurice “Hank” Greenberg 7:00 am: Wake up. CD alarm clock plays “It’s All Over Now” by The Rolling Stones. 7:05 am: Mutters “wasn’t my fault” on the way into the shower. 7:30 am: Breakfast, includes 2 egg whites, one half grapefruit, one heaping bowl of Gorilla Munch cereal (from…
This Just In: Cuomo Wants AIG Names by 4PM
Headlines from Reuters: March 16 (Reuters) – New York Attorney General Andrew Cuomo issued a letter to American International Group Inc AIG Chief Executive Edward Liddy: * Cuomo threatens to subpoena American International Group Inc AIG over bonuses * Cuomo says has requested list of individuals who are to receive payments under retention plan, as…
Cuomo to Thain: I Know What You Did Last Christmas
Aww Yeah! Forget about that Jon Stewart vs. James Cramer noise…who cares? The real action is taking place in the New York State Attorney General’s Circle of Death between Andrew Cuomo aka Spitzer 2.0 and Merrill Lynch aka the Hamburglar of Wall Street. From DealBook (NYT) The office of Attorney General Andrew M. Cuomo filed…
This Just In: Nadel Caught in Florida, AG Cuomo Investigating Thain Bonus
Today’s going to be a doozy… Art Nadel just surrendered to authorities in Tampa, Florida according to CNBC. New York Attorney General Andrew Cuomo has subpoenaed ex-Merrill Lynch CEO John Thain and one of his henchmen regarding the bonus snafu according to Dealbreaker. Kind of like the final scene of The Godfather when the family takes…
