Thursday, February 26, 2009

Overallotment: February 26

  • BofA served with bonus subpoena after Ken Lewis' 4 hour interrogation (Bloomberg)
  • 14,000 additional layoffs at JPM (Reuters)
  • The financial terrorist system to demand another $750 billion soon (Reuters)
  • Regulatory investigation into shady European "dark pools" (FT)
  • And speaking of financial terrorism... Fannie needs another $15 billion (FT)
  • FDIC poised to double bank fees as it realizes it actually has no money left (WSJ)
  • Angela Merkel calls for creation of global bond cartel (FT)
  • Indonesia (BB-) sells $3 billion of bonds at 11.25% (Bloomberg)
  • Sir Stanford's Investment chief Laura Pendergast-Holt arrested by FBI, charged with obstruction of proceedings (WSJ)
  • California to stop water deliveries to state farms for three weeks (Stormwire, Hattip Paul K)
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Anonymous said...

You saw this right?

BofA generally will manage the financial instruments in the BofA Pool in accordance with its ordinary business practices, but will be required to comply with an asset management template as provided by USG. This template will require that BofA, among other things, obtain USG approval (not to be unreasonably withheld) before any Material Disposition. A Material Disposition is a disposition of financial instruments in the BofA Pool that creates a loss that, combined with other dispositions of BofA Pool instruments in the same year, exceeds 1% of the size of the BofA Pool at the beginning of the year. This template also will include, among other things, a foreclosure mitigation policy acceptable to USG.

Tyler Durden said...

nein. where that from?

Tyler Durden said...

oh, Boa TS... yep

turcomen said...

You should have on your blog list. The guy saves lives.