• BofA Seeks to Repay a Portion of Bailout – “Repaying this would mean BofA would no longer be considered an ‘exceptional’ aid recipient — a designation that has put it under a microscope by Congress and regulators, with its pay packages subject to review by the federal ‘pay czar'”. Ken Lewis isn’t going to take it anymore. [WSJ]
• Madoff Liquidator May ‘Claw Back’ Charities’ Fake Profits – ‘Picard has an obligation to the bankruptcy estate to collect all the assets he can find and in theory he has to treat everyone the same way.’ Most thankless job ever. [Bloomberg]
• Warning Signs: I Started Looking And The Bubble Burst… – Deloitte. Start listening. [RTA]
• Icahn Pares Yahoo Stake With Sale of 12.7M Shares – Deal is done. Might as well work on GTFO. [NYT]
• Corporate failures forecast to rise – “Insolvency specialists are forecasting a second wave of corporate restructurings to break in September as bankers and investors face problem investments.” [FT]
• IRS to Mine Payment Data on Mortgages – “The Treasury inspector general said in a Monday report that tens of thousands of homeowners who paid more than $20,000 in mortgage interest in 2005 either didn’t file a tax return or reported income that appears insufficient to cover their mortgage interest and basic living expenses.” GASP. Someone living beyond their means? [WSJ]
Related Posts
Preliminary Analytics | 08.04.09
• UBS CEO Expects Swiss Government to Sell Stake by Year-End – Does this mean that the Swiss are better at capitalism than the Americans? [WSJ]
• Geithner Vents at Regulators as Overhaul Stumbles – Sounds like someone needs a hug. Can anyone recommend a good shrink for T. Geith? [WSJ]
• Biggest Banks Come Up Short on List of Mortgage Modifications BofA. Citi. Meh. [Bloomberg]
• Bill Clinton Lands in North Korea, May Ease Tension – “Former President Bill Clinton arrived in North Korea on a surprise visit that may help defuse tension over the communist regime’s nuclear program and secure the release of two U.S. journalists sentenced in June to 12 years.” Arkansas moxie to the rescue. [Bloomberg]
• Sizzling summer for white shirts – So sayeth Charlie Tyrwhitt [BBC]
• Goldman Princes Told: Spend Like Paupers – Apparently, LB is concerned that pubic hangings may regain popularity. [New York Post]
Preliminary Analytics | 09.16.09
• Bankers Should Repent, Archbishop of Canturbury Says – And since the bankers and others are blaming the accountants, you all should get with the penance as well [AP via NYT]
• Buffett Says the U.S. Economy Has ‘Hit a Plateau at Bottom’ – This bodes well the Beard’s calling of the match yesterday. [Bloomberg]
• Pimco’s Gross Boosts Government Debt to 5-Year High – Take note, USD haters. [Bloomberg]
• James S. McDonald, C.E.O. of Rockefeller & Co., Dies at 56 – Illuminati theories can commence now. [NYT]
• Facebook Says Its Finances Are Looking Up – 300 million members and free cash flow positive, so you must be on there providing witless comments about how you hate our jobs. Join the GC group. [Bits]
Preliminary Analytics | 10.09.09
• GM Expected to Seal Hummer Sale – $150 mil. Totally worth it. [WSJ]
• Bernanke Ready to Tighten When Recovery Sufficient – Don’t rush the man, you impatient twerps. [Bloomberg]
• FDIC questions Citi management review: report – ‘Cause, you know, they almost destroyed the WHOLE WORLD. [Reuters]
• 34 Banks Miss TARP Dividends and Almost No One Notices – AIG, CIT, and Bancorp are the top three slackers. Thanks guys. [Naked Capitalism]
• In Surprise, Nobel Peace Prize to Obama for Diplomacy – Glenn Beck’s hysterical dismissal of the legitimacy of the award in 3…2…1… [NYT]