Archive for October, 2009:

Nine Bank Failures In One Day

{ Posted on Oct 31 2009 by Joe Weisenthal }
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Categories : All, Clusterstock
A couple weeks ago we thought it looked like bank failures were slowing down. Apparently not. --- AP: Regulators shut California National Bank of Los Angeles and eight other banks as the weak economy continues to produce a stream of loan defaults. The ...Read More »

Madoff: John Mack, David Komansky, And Dan Tully Were Comfortable With My Returns

{ Posted on Oct 31 2009 by Henry Blodget }
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From Madoff's jailhouse interview: Madoff stated that he'd heard that Menill Lynch, Goldman Sachs, and Credit Suisse wouldn't do business with him, however, he stated that David Kamansky (Merrill Lynch CEO), Dan Tully (former Chairman and CEO Merrill Lynch), and the ...Read More »

GLD’s Weekly Gold Bar Count Is Inaccessible

{ Posted on Oct 31 2009 by Joe Weisenthal }
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The SPDR Gold Shares (GLD) ETF publishes a weekly list of the gold bars in its vaults, accounting for each and every one with a serial number. There have been some oddities with the number in the past, as the ...Read More »

Madoff: Here Are The Two Ways To Fool The SEC

{ Posted on Oct 31 2009 by Henry Blodget }
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From the jailhouse interview: Madoff noted that there are two schools of thought on how to deal with [SEC] exams: 1. Make the examiners crazy, make things difficult for the examiners.  In connection with this, Madoff noted that every firm keeps books ...Read More »

Madoff On “Idiot” SEC Investigator: He Thought He Was “Lieutenant Columbo”

{ Posted on Oct 31 2009 by Henry Blodget }
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In his jailhouse interview last summer, Bernie Madoff expressed his dismay at some of the folks the SEC sent to investigate him. Such as an "idiot" called Ostrow, who he described as a "total asshole" and a "blowhard." (In contrast, Bernie said ...Read More »

CIT Bankruptcy Socking Taxpayers With $2.3 Billion Loss

{ Posted on Oct 31 2009 by John Carney }
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The lifeline extended by Carl Icahn to CIT on Friday may as well be a noose around the neck of taxpayers. The company said Friday that Icahn to support its prepackaged bankruptcy plan. Icahn, who wanted to push CIT into liquidation, ...Read More »

Madoff On The SEC: They Could Have Caught Me With A Single Phone Call

{ Posted on Oct 31 2009 by Henry Blodget }
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Last June, the SEC went to see Bernie Madoff in jail to ask him how they had failed to catch him. The SEC's summary of the interview is below.  The bottom line: It was "amazing" to Madoff that he didn't get ...Read More »

Happy Haloween

{ Posted on Oct 31 2009 by Rdan }
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Categories : All, Angry Bear
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Asia’s Semiconductor Makers Mirroring Improvement of U.S. Counterparts

{ Posted on Oct 31 2009 by Bob Blandeburgo }
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Categories : All, Money, Money Morning
By Bob Blandeburgo Associate Editor Money Morning Some of Asia’s biggest players in the chipmaking business have confirmed what U.S. semiconductor makers have been saying for months: Demand for... Money Morning is here to help investors profit handsomely on this seismic shift in the ...Read More »

Health Care Exchange: Eligibility vs. Enrollment

{ Posted on Oct 31 2009 by Bruce Webb }
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Categories : All, Angry Bear
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