Moreover, Mr. Pandit seems uncomfortable as the leader of one of the nation’s biggest banks. He shuns most interviews, and he is prone to overreact to criticism no matter the source, be it The Wall Street Journal or a minor blog. Reports suggest Mr. Pandit is behind Mr. Mayo’s ban, a charge Citigroup denies. [WSJ]
Article courtesy of Dealbreaker
$$$ Short-Sellers Take Long Vacation [WSJ]
$$$ Citigroup Will Meet With Mayo After Analyst Complains in Report [Bloomberg]
$$$ 12 Unconventional Ways To Save The Economy [NYO]
$$$ Tiger In The City [NYP]
Article courtesy of Dealbreaker
$$$ Blackstone Returns Fees in First Clawback Triggered at Firm [Blackstone]
$$$ Coco’s Drop Pressures A Big Wager [WSJ]
$$$ Thailand’s Vagina Tree Correctly Predicts Lottery Numbers [Nerve]
$$$
Article courtesy of Dealbreaker
Back in February, the Wall Street Journal printed an article about a hedge fund “idea dinner,” more than insinuating that a bunch of representatives from Soros, SAC, Greenlight and Paulson and Co got together to enjoy a meal of food while scheming re: how they were going to take down the Euro. This was uncool for a few reasons, included by not limited to the fact that it’s unlikely the handful of managers assembled would even be capable of taking down the currency and the shoddy reporting that said they ate fish when in fact it was chicken (a tad undercooked, if you must know). Also, as a result of the story, the Justice Department’s antitrust division opened an investigation into possible violations of the Sherman Act.
This was fucked up because a) despite the suggestion nefariousness doing, no one did anything wrong and b) it scared much of the industry’s participants into not taking part in these gatherings, which they really looking forward to. They wouldn’t even be seen talking a little shop over fro-yo! But, short of releasing some “Oh no you di’int” letters directed at the Journal. Today, though, comes relief: the Justice Department has closed the investigation and no action will be taken against anyone there that night. Everyone is safe to nosh on whatever they want while discussing going about cornering the OTC Bulletin Board Market for Pet Life Insurance Companies.
Exclusive: U.S. ends probe of hedge fund “idea dinner” [Reuters]
Article courtesy of Dealbreaker
$$$ London bankers can dress for more than success [Dealbook]
$$$ GM files for landmark IPO to repay bailout money [Reuters]
$$$ Why success is so much harder for hedge funds now [cnbc]
$$$ AIG sets stage for first bond sale since bailout [WSJ]
Article courtesy of Dealbreaker
$$$ Falcone Close To Deal With Inmarsat [FINalternatives]
$$$ The New Ping-Pong Diplomacy [WSJ]
$$$ JetBlue Memo Questions Flight Attendant’s Motive [AP]
$$$ Manhattan Luxury Condos Try FHA Backing in Sales `Game Changer‘ [Bloomberg]
$$$ This is still happening:
Spotted on Park near Grand Central today.
Article courtesy of Dealbreaker
Bobby Benmosche, celebrating the fact that he’s survived an entire year to the day at AIG, an achievement no one saw coming. [WSJ]
Article courtesy of Dealbreaker
$$$ What Does Wall Street Really Want From Ben Bernanke? [CNBC]
$$$ U.S. to Let Tax Cuts For Wealthy Expire [WSJ]
$$$ Geithner Sees `Basic Confidence‘ in U.S. Economy [Bloomberg]
$$$ How To Get A Body Like Beyonce [WSJ]
Article courtesy of Dealbreaker
$$$ Roubini Says Obama Should Address Nation as Adults [Bloomberg]
$$$ Eleven Banks Will Fail EU Stress Tests: Strategist [CNBC]
$$$ Grant On Potential New Federal Reserve Governors [Bloomberg]
$$$ SEC Delves Into ‘Proxy Plumbing‘ [WSJ]
Article courtesy of Dealbreaker
Microsoft (MSFT) is planning a “”relatively small” round of job cuts as soon as Wednesday, according to the TechFlash blog and the WSJ. TechFlash site reports that “people with knowledge of the situation” say the numbers involved are far less than the thousands of jobs cut by the company last [...]
Article courtesy of BARRONS.com: Tech Trader Daily