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Latest blog posts

• The afternoon rally: What Nouriel Roubini seemed to have giveth, he taketh away….
• JP Morgan’s earnings beat; Paulson sits on the hot seat; Banks opening the pay spigots to compete; California still has no budget deal; Regulators play hardball with B of A (and Citi); Foreclosures up 33% over June last year; Some large hedge funds could
• Unless there’s a last minute deal, sounds like CIT is Chapter 11 bound; Retailers who rely on CIT’s factoring may have a rough Christmas holiday; Bayou’s Hedge fund fraudster Sam Israel gets 2 more years for his little bail jumping faux suicide incident;
• Strange but apparently true: Wells Fargo has sued itself; Even their own staff is said to be laughing over how absurd it sounds — $WFC #banks
• UBS sees “encouraging signs”; SEC looking at better Muni bond market disclosure; Private equity: so much for big bank deals; UK hedge funds may get their frozen Lehman Brothers assets back next year; NYC office rents plummet 44%
• More must see TV: Jon Stewart lampoons the rise and fall of Lenny “Nails” Dykstra on The Daily Show. And he ties it neatly into another a Jim Cramer mockfest
• Geithner optimism; Increased Fed powers under attack; Small business getting the healthcare plan shaft; California credit rating takes another hit; Justice Dept derivatives probe focusing on Markit; B of A trying to get Merrill investment bankers who bail
• No dismissal of insider trading charges for former Bear Stearns hedge fund manager Ralph Cioffi; Goldman: higher risks led to bigger trading rewards; The SEC’s sudden aggressive moves to make sure it remains relevant are pissing some off; CIT negotiating
• Must see tv: Barney Frank in fine form on The Daily Show; Jon Stewart on Goldman Sachs’ “greatest quarter in the history of quarters”: “They are now dipping their balls in gold” $GS

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