BanksDays after the Dimon-Bernanke showdown, out-going FDIC chair Sheila Bair put her two cents in about one of Jamie Dimon’s main gripes, on capital requirements going too far: “On obvious things like higher capital standards, I say full speed ahead and the higher the better.”
Dick Bove is suggested that Goldman Sachs might have had no big net short on the subprime market.
Originally the Fed’s capital surcharge on big banks was going to be around 3%, but now it’s looking like it’s going to be 2.0% to 2.5%. The concrete numbers will be announced soon at Basel.
Bank of America is shutting down a bond prop trading desk. A team headed by Scott Brown, with about 15 traders, will leave the bank at the end of June. Star traders Steve Padovano and Srini Dhulipala “may depart.”
Several Deutsche Bank analysts ditched their banker uniforms — button down blue shirts —Thursday and wore golf shirts as an act of civil disobedience. The fifteen analysts wore the shirts to irk their “fussy” boss after a fellow teammate was scolded for wearing one.
Yesterday Morgan Stanley sent out a memo to employees in Connecticut after a mountain lion was spotted in Greenwich, telling them what do in the event they run into it.
Bill Ackman’s Pershing Square boosted its stake in Family Dollar to 8.9%. The firm now owns 10.87 million shares, worth about $570 million.
The Sino Forest fraud debacle has claimed an unwitting victim: the Tanzanian Royalty Exploration company, who’s ticker symbol is TRE. That’s the same as Sino Forest’s on the Canadian stock exchange. And stock of the earlier was inexplicably down today.
Roxanne Martino, the president and CEO of $10 billion fund-of-funds firm Aurora Investment Management, was forced to resigned from the University of Notre Dame‘s Board of Trustees because she’d made donations to a pro-choice group.
Other Bankery Buzz
Last night Prince William and his new wife, the Duchess of Cambridge (better known as Kate Middleton) attended hedge fund titan Arki Busson’s ARK charity gala. The event had a star-studded guest list from the Royals to finance heavyweights to Hollywood stars. Photos here >
BlackRock CEO Larry Fink is bullish on equities and said today: “I don’t see any reason to think we need a QE3.”
Here are 11 amazing facts about testosterone, like: people who have high levels of testosterone are more likely to end up on Wall Street.
The head of Kazakhstan’s central bank is withdrawing his bid to head the IMF. Grigory Marchenko said it is “more or less obvious” that the job will go to French Finance Minister Christine Lagarde.
Last week in London, Jeffrey Sprecher, the CEO of IntercontinentalExchange (ICE) tried to smooth things over with NYSE head Duncan Niederauer in the wake of ICE’s hostile NYSE takeover attempt.
Remember Cheryl Mercuris? You think you don’t, but you do: she’s the Florida marketing millionaire whose phone rang off the hook when the New York Post ran a story about her renting a $500,000 house in the Hamptons to land a banker hubby. She’s returning again this year.
The top-secret annual Bilderberg Meeting began yesterday.
Pimco’s Bill Gross bought a $23 million house on Newport Beach’s Harbor Island in 2009, and tore it down. Now he’s selling the empty lot for $26.5 million. Click here to tour the home >
In April, former Lehman man Larry McDonald pointed out that the last time Barron’s had an image on its cover that was a bull hurting a bear, the DOW dropped 1,000 points shortly thereafter (the infamous May 6 flash crash). On April 29th, the DOW was at 12810. Today it closed at 11951.
Non-Wall Street Bonus
BI’s Alyson Shontell had an exclusive interview with Jenn Sterger of scandalous sexts-NFL-quarterback-Brett-Favre fame.
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