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WSJ and Reuters finally wake up to the Citi arb blow up, with words like Volkswagen thrown in. Also, 76.1% of lendable shares on loan (here , here and here ) More on Operation Twist 2.0 (Reuters ) Some more rosy numbers about hedge fund redemptions (Bloomberg ) Ed Liddy wants some AIG bonus money returned (WSJ ) All is good at GECC.... No really...Obama will confirm it on Leno tomorrow (Bloomberg ) Bring on the criminal investigations already (Naked Capitalism ) Sphere: Related Content
Chinese deflation accelerates: CPI at -1.6% versus -1.0% consensus (Bloomberg ) Barclays warned of toxic asset dumping ahead of potentially applying for gov't insurance (FT ) No more banker jobs for foreigners (NYT ) Europe leaves US alone in stimulus spree (FT ) Shinsei Bank needs to raise $508 million (Bloomberg ) The geniuses who tried to outsmart Wall Street (NYT ) CEO bonuses falling fast (Reuters ) Detox for troubled assets critical per FDIC (Washington Post ) Bank collapse surpasses dot.com crash:
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New $60 billion treasury sale on deck (Bloomberg ) The unemployment breadth of the recession (NYT ) Junk bond borrowers line up (WSJ ) China announcing new stimlus plan, 3 months after last (Bloomberg ) MySpace COO Amit Kapur leaving for new online venture (Reuters ) Court rejects Khodorkovsky plea on first day (Moscow Times ) Sphere: Related Content
Capmark in default, hires Lazard to restructure balance sheet (PR ) Lyondell fails to win DIP approval, hearing to pick up Thursday morning after profuse objections (Debtwire ) Citi to announce agreement with government on Thursday (Reuters ) One perspective of the government's Prime Brokerage program aka TALF (Credit Writedowns ) As government focuses on D(efault)-3, auto-suppliers on "cusp of cataclysm" (Washington Post ) Mass extermination alert: now Novartis' meningitis C vaccine contaminated with Staph (Sky News ) Nassim Taleb's take on the flawed banking bonus system (FT ) Worst year ever at Conde Nast (NY Post ) Sphere: Related Content
Japan exports fall 45.7%, resulting record trade deficit means no more Treasury purchases (Bloomberg ) Merrill loss even greater: unseen $500 million charge emerges (FT ) Highland's troubles grow: UBS sues for $745 million loss in CDO fund (Bloomberg ) Renters losing edge on homeowners (WSJ ) More newspaper drama: Hearst to sell or close San Francisco Oracle (Reuters ) Another failed hedge fund tries to stage comeback tour, this time it's Dillon Read (Bloomberg ) Sphere: Related Content
Asian stocks drop to five year low (Bloomberg ) Separating Eastern European's wheat from chaff (NYT ) [Funny how this stuff develops. Two weeks ago nobody cared about EE, now people can't shut up about it] Franchisees are the next mass default wave (WSJ ) Goldman cutting Japan Research Team (Bloomberg ) Man Group lures Goldman Head of Middle-East strategy Youssef Kabbaj (WSJ ) Dollar keeps rising against Yen due to perceived role as lesser of all evils (Bloomberg ) Millions of Sir Stanford's assets still unfrozen, including 120 yacht and $7.7 million mansion (Reuters ) Sphere: Related Content
UBS blocks US client details, sets up for confrontation with US government (BBC ) Sir Stanford owned $100 million aircraft fleet, castle, yacht, etc. (Bloomberg ) Deathwatchee NYT suspends dividend to conserve cash (Bloomberg ) The escalation of the Merrill bonus inequity by New York (Naked Capitalism ) Madoff creditors to hold meeting with liquidation trustee tomorrow (DealBook ) Sphere: Related Content
UBS to reveal names of tax cheats as part of DOJ Settlement, presumably more than just current administration officials (Bloomberg ) Cerberus' Japanese Aozora bank lost money on everything from GMAC to Madoff (Bloomberg ) Next bail out target: Eastern Europe (FT ) Another trucker prepares for bankruptcy, this time Sun Capital company Mark IV (Debtwire ) GM Bondholders say restructuring plan is worthless (WSJ ) And why without Bondholders, there is no plan (Reuters ) Stanford's private equity connections (Deal Journal ) Sphere: Related Content
Emmanuel Rahm was paid $260,000 to be Freddie Mac director in 2000-2001 (NYPost ) Hedge fund consolidation to heat up (Bloomberg ) Doug Kass: Fear and Loathing on Wall Street (TheStreet ) More brokerage mergers coming (Reuters ) $650 million in stimulus package for set top digital TV converter boxes sure makes sense (WSJ ) Bubble-creator Greenspan says current measures unable to solve his mess (Bloomberg ) Trump's image being flushed down the toilet (Reuters ) The decline of California (WSJ ) Dick Bove leaves Ladenburg to join Rochdale (DealBook ), gets downgraded from Managing Director to VP, to continue working out of his Lutz, FL home office Euro trades near 10 week low as Europe's troubles worsen (Bloomberg ) Sphere: Related Content
Obama calls bonuses shameful, Dodd to seek legal recourse (Bloomberg Bloomberg to cut $1 billion worth of services to reduce budget (CBS )Blagojevich removed from office (WSJ IMF considering issuing bonds raise money (WSJ Obama to wait and see on TARP 2 effectiveness before pursuing "aggregator bank" concept (Bloomberg Chinese premier defends currency policy (FT ) Ruble keeps on plummeting as bank does not get involved (Moscow Times ) Sphere: Related Content
Ruble rubble - currency crashes Wednesday by record 2.5% (Moscow Times ) Latest "reflexivity" ruminations by George Soros (FT ) House passes stimulus bill; not one republican votes for (Brutally Honest ) Doom and gloom: economic pain to be "worst for 60 years" (FT ) UBS slashes bonus pool by 80%, Swiss citizens still cry foul (Bloomberg ) The private jet backlash continues (as we expected, NYT ) Geithner's Yuan comment dismissed as "Horrible Advice" (Bloomberg ) Sphere: Related Content
Exxon cut to Neutral from Buy at UBS 78,000 fired today (NY Post ) Thain called to testify on Merrill bonuses, hires spin doctors (FT , NY Post ) Putin to seek new economic order at Davos (Moscow Times ) Most Wall Street workers unhappy with their bonuses (Bloomberg ) Will CDS spreads tumble in February? (FT Alphaville ) AIG has given 400 derivative traders $1.1 million average retention guarantee (Bloomberg ) Dov Charney's American Apparel in whole new batch of trouble (NY Post ) Petrobras will not issue debt this year, market too expensive (Bloomberg ) All about the golddiggers' neo-forum (NY Times ) Sphere: Related Content
