GOSSIP: Today's Wall Street Buzz in 60 Seconds

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Goldman Sachs is shuttering its super-profitable Global Macro Prop Trading desk to comply with the Volcker Rule.

Wells Fargo’s CFO, Howard Atkins, abruptly departed the bank last week.  Reportedly, he’s involved in an ongoing internal dispute.

By now most major hedge funds have filed their latest holdings reports. Here’s a wrap-up of the key moves hedge funds made in Q4.

Insurance company Allstate is suing JPMorgan for mortgage-backed securities sales fraud.

Borders declared bankruptcy this morning.

Williams, the energy company, will split into a pipeline company and a exploration and production energy producer.

It’s official: hedge fund D.E Shaw is losing its luster.

BarCap traders are celebrating their bonuses — and drunkenly bragging about them too.

Fairholme Capital Management, which owns nearly 30% of St. Joe, will move to replace St. Joe’s board by written consent of the majority of the company’s shareholders.

Ken Moelis is opening a new office in Houston to capitalise on dealmaking in the oil and gas industry, and he’s put former Goldman Sachs i-banker, F. Brady Parish Jr, in charge.

The board of the exclusive Upper West Side co-op, The Dakota, has released an affidavit that hits back at hedge fund manager Alphonse Fletcher, who accused them of racism.

Former PIMCO star John Hague is recruiting PIMCO alumni for his new firm, which will “pursue more aggressive strategies as the bond rally fizzles.” Essentially, he’s going head-to-head with his old employer.

The Swimsuit Issue Indicator says that the US equity markets perform better in years where an American appears on the cover of Sports Illustrated’s annual Swimsuit issue. This year’s cover girl was a Russian.

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