Tuesday, June 2, 2009

Exclusive: Zero Hedge Receives FOIA Response On Perella-Weinberg Compensation

After several months, the FDIC has been kind enough to provide Zero Hedge readers with the information requested on Perella Weinberg's compensation (good to know bank liquidation pays a nice $4.6 million a year), and the balance on the DIF (which is somewhat stale as the FDIC recently reported that information in its quarterly update and Zero Hedge discussed the topic). Under the umbrella of the Freedom Of Information Act, I present the information as received from the FDIC unadulterated.

To all who joined Zero Hedge's campaign, you have our gratitude. In our age, transparency is of utmost importance.

This e-mail is in response to your Electronic Freedom of Information Act (E-FOIA) request in which you requested, pursuant to the Freedom of Information Act (FOIA), 5 U.S.C.§552, the engagement terms related to Perella Weinberg Partners LP providing financial advisory services to the Federal Deposit Insurance Corporation (FDIC). You also requested the remaining balance of the FDIC’s Deposit Insurance Fund (DIF).

This is a link where the released compensation structure can be found:


This is a link where the released contract for Perella Weinberg can be found:


This is a link where information about DIF trends can be found amongst the FDIC’s Quarterly Banking Profile: http://www2.fdic.gov/qbp/qbpSelect.asp?menuItem=QBP. This is a link that can be found on the Quarterly Banking Profile – DIF trends link, above mentioned, pertaining to DIF balance and Insured Deposits: http://www2.fdic.gov/qbp/2009mar/fund.html.
This is a link where general information on the FDIC’s Deposit Insurance Assessment can be found: http://www.fdic.gov/deposit/insurance/assessments/rate_cases.html.

Inasmuch as this results in a full grant of your request, we are closing your file in our office. We hope the above has been helpful to you. Please call me directly on xxx-xxx-xxxx if we can be of further assistance.


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