The New York Post‘s always acerbically witty columnist Terry Keenan lines up this year’s Wall Street Turkeys and knocks ’em down. The names on the list are fairly predictable even to the lay person, in light of how much ink our favorite captains of finance have recieved nationally this year. They include Vikram Pandit, Timothy…
John Thain
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…
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…
Taibbi v Goldman Redux
“Goldman Sachs…is like a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money” Matt Taibbi, Rolling Stone Magazine Matt Taibbi is the reporter who has just exploded into the public consciousness with his brutal Goldman Sachs Controls the Universe piece in, of all places, Rolling Stone…
Hot Links: Charlie, AOL, J Crew, MLB, Schumer & Biden
Hot Links for Weekend Reading Let’s start off with The Daily Beast’s Charlie Gasparino‘s take on the BofA/ Ken Lewis/ John Thain showdown. Thain went off on his former boss but Charlie stayed neutral: “Watching these guys go at it is kind of like watching old World War II footage of battles between Germans and…
Ken Lewis: Should I Stay or Should I Go?
[youtube=http://www.youtube.com/watch?v=bYxkvAwIjzQ] With Ken Lewis just voted out as Chairman by Bank of America shareholders, how long will he stick around as CEO? With apologies to the late Joe Strummer, here’s Kenny doing his rendition of The Clash’s “Should I Stay or Should I Go?” ____________________________________________ Voters, you gotta let me know Should I stay or…
Market Recap: All Swine Flu, All The Time!
[vodpod id=ExternalVideo.816076&w=425&h=350&fv=] The Reformed Broker, AKA Daddy Long Legs, here with today’s Market Recap… It’s Monday, so that can only mean one thing…Yes, that’s right! A new restructuring plan for General Motors (GM)! Maybe this, the third since January, will stick. And BTW, they’re blowing out the Pontiac brand, which is a shame. The action today was…
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…
"But We Can't Afford to Lose the Talent" and Other Bullsh*t
Attention Wall Street Banks: YOUR EMPLOYEES AREN’T GOING ANYWHERE. THERE IS NOWHERE FOR THEM TO GO. PRIVATE EQUITY FIRMS ARE SCREWED, REAL ESTATE FIRMS ARE DEAD ALSO…AS ARE MOST HEDGE FUNDS. STOP THE BONUSES, YOUR PEOPLE ARE STUCK WITH YOU ANYWAY. _____________________________________________________________________________ As B of A/ Merrill‘s Ken Lewis and John Thain continue to play…
Who Really Gets Punished by a Wall Street Salary Cap?
Yesterday, the Obama administration announced that firms who are significant moochers of the TARP will have salary caps imposed on their executives of $500,000 per year. While the effects will be deeply felt on Wall Street, let us not forget that many other individuals and businesses will also be devastated. Below is a list of…
