GOSSIP: Today’s Wall Street Buzz in 60 Seconds

Meredith Whitney

Oaktree Capital arranged an interesting loan to a company. The hedge fund pays a bonus to the CEO for letting the company suck-wind.

The cover of the New York Post today had a very interesting way of describing the market volatility by comparing it to a hooker.

Meredith Whitney on CNBC today described the Tea Party as a group of “freaked out white men” so CNBC’s Rick Santelli, one of the Tea Party’s founders, dissed her at the end of the segment.

Bank of America’s Brian Moynihan spent 90 minutes in a rare conference call with Fairholme Capital’s Bruce Berkowitz answering questions.  Moynihan said he’d see the sceptics in court if that’s what it takes to restore confidence.

JPMorgan’s Jamie Dimon, who is currently on a bus tour visiting Chase branches in California, shared his optimistic outlook today.  This is what he had to say about the American economy: “This will pass…and America’s economy will blow your socks off.”

John Thaler JAT Capital and Chase Coleman’s Tiger Global are both up about 30% this year while other hedge funds are getting crushed.

John Paulson’s hedge fund is down over 30% year to date.

The next wave of Wall Street layoffs continues with Bank of New York Mellon planning to cut 1,500 jobs.

Raj Rajaratnam’s legal teams says the former Galleon hedge fund chief is too sick to serve a lengthy prison sentence.

A source told Business Insider that there was increased security today at the S&P building today following yesterday’s aeroplane that flew around dragging a taunting banner.

A South Korean stock broker jumped to his death after suffering massive losses amid global financial market turmoil.