"Jury rejects prosecutor's rigged game"
PointOfLaw Forum (Free subscription) | yesterday
Our own Marie Gryphon on the Bear Stearns acquittals....
The Bear Stearns Companies Inc.
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JP Morgan Revealing The Recession May Be Over!
Financial Works (Free subscription) | yesterday
By Gavin J. King Recent news posted stating that JP Morgan was hiring 1200 loan officers at locations all across the nation. In case you did not know who they are, they are the wall street bankers who acquired WAMU to get out from under several billion dollars worth of tax money they owe to the government. Sound familiar? I thought it might. Offsetting further tax liability, they also purchased Bear...
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I Blame This on the NHL
Angry Bear (Free subscription) | yesterday
With all the talk of "Detroit," you would think that Michigan would have lost the most employees, as a percentage of same, on the year. After all, the scariest graph of the U.S. MSAs isn't scary for nothing. But the Regional and State Employment data is out for October (h/t CR ), and there's a different leader . Apparently, the bursting of the Sunbelt Bubble (building expensive houses in...
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A Pro-Free-Market Program for Economic Recovery
LATICONOMICS (Free subscription) | yesterday
A Pro-Free-Market Program for Economic Recovery Mises Daily: by George Reisman Good afternoon, ladies and gentlemen: As you all know, we are in a severe economic downturn. The official unemployment rate now exceeds 10 percent and according to many observers is actually substantially higher. Within the last year or so, our financial system has been rocked to its foundations. The collapse of the housing...
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The Greatest Traders
Trading Goddess Stock Blog! (Free subscription) | 18/11/2009
What separates the 10% that make money from the 90% that don’t? 10,000 hours. In his recent book ‘Outliers’ Malcolm Gladwell describes the 10,000-Hour Rule, claiming that the key to success in any cognitively complex field is, to a large extent, a matter of practicing a specific task for a total of around 10,000 hours. 10,000 hours equates to around 4hrs a day for 10 years. For some...
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Capitalizing On Sustainability: Partnership Capital Growth
Triple Pundit (Free subscription) | 18/11/2009
Wall Street’s spectacular implosion in 2008—illustrated by the failure and subsequent sale of Bear Stearns to JP Morgan and, soon thereafter, the bankruptcy of Lehman Brothers and the government’s spectacular bailout soured many on Wall Street’s Masters of the Universe. But investment banks don’t just trade credit-default swaps and collateralized debt obligations. They...
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Bear Stearns Defense Holds Lessons For Execs
Forbes (Free subscription) | 18/11/2009
Going on offense is the best defense in white-collar cases.
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The wrong arm of the law
The Guardian (Free subscription) | 17/11/2009
A new book reveals how US federal prosecutors twist the law to criminalise legal activities, with connivence from the media Sharp-elbowed business executives and grasping politicians may not be especially popular figures within the American iconography. But membership in any of those classes is not a federal crime. Except when it is. In an important new book, Three Felonies a Day: How the Feds Target...
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The Job Market's So Bad, People Are Begging For Jury Duty
The Business Insider (Free subscription) | 16/11/2009
We went to jury duty just last week, and, after sitting in the voir dire room for nearly two hours, were immediately dismissed once our lawyer-ness was revealed. We cannot really say anyone seemed like they were dying to be selected to serve (particularly not the woman who slept through the entire thing), but The New York Post has an article today that says differently. NYP : "People are calling...
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Best of the Web 11/16: Faber Rips Cramer, SEC Probing COMS Option, Gov Spending Out of Control
StreetInsider.com News Articles (Free subscription) | 16/11/2009
StreetInsider.com Best of the Web: CNBC's David Faber... no I mean Newsweek, Rips Jim Cramer for Bear Stearns Call. Calls the 2nd worst prediction . ‘Bear Stearns is fine' - Jim Cramer, March 11, 2008 The SEC is looking into option trading in 3Com (Nasdaq: COMS) before the announced acquisition by HP (NYSE: HPQ). “It screams insider trading to the SEC,” said law professor Peter Henning....
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Setback in Bear Stearns case may force prosecution shift
Boston Herald (Free subscription) | 16/11/2009
WASHINGTON - The swift acquittal of two Bear Stearns executives in the government's criminal case tied to the financial meltdown likely will force prosecutors to rethink...
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Wall Street Will Walk
The Daily Beast (Free subscription) | 16/11/2009
After two former Bear Stearns hedge fund managers were acquitted of fraud charges last week, Charlie Gasparino says prosecutors are afraid to bring new cases. And that's a good thing. It usually doesn't get much easier for the prosecution: a pair of...
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Buffett’s bet on peak oil
Dangerous Intersection (Free subscription) | 15/11/2009
Warren Buffett is lauded as one of the greatest investors of all time, if not the greatest. He's the second-richest person in the world , and known as the "Oracle of Omaha" for his seemingly prescient investments. For example, in the wake of the collapse of Bear Stearns and during the height of the market panic that followed it, Buffett stepped in and negotiated a deal with Goldman Sachs...
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What The New York Times Tells Us About Rodge Cohen
The Business Insider (Free subscription) | 15/11/2009
At the star-studded party for Andrew Ross Sorkin's Too Big Too Fail , people spent most of their time whispering about which big financial names were there. And when calling out the Jamie Dimons and the John Macks, Rodge Cohen's name was near the top of everyone's lists. Lawyers are generally back room people, and they certainly are rarely stars in a room that also includes super-producer Brian Grazer....
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Meet The Trauma Surgeon Of Wall Street
The Business Insider (Free subscription) | 15/11/2009
Rog Cohen is the most powerful banking lawyer in the world. Today the New York Times profiles him. All told, from March 2008, when Bear Stearns was purchased for a song by JPMorgan Chase (both Sullivan & Cromwell clients), to mid-September, when A.I.G. (another client) was handed several billion by the government , Mr. Cohen, 65, took part in a breathtaking 17 financial deals, often hurrying among...