Is the Obama administration going soft on bankers?
Sounding more like Ayn Rand than his usual self, President Obama said in an interview on Tuesday that he, "like most of the American people, [doesn't] begrudge people success or wealth. That is part of the free-market system."
He was referring to the $17 million and $9 million bonuses that Jamie Dimon and Lloyd Blankfein are taking home this season, respectively. Indeed, he even went so far as to praise the bankers for accepting the loot in the form of stock instead of cash.
"I know both those guys; they are very savvy businessmen," Obama continued. Talking through clenched teeth or does Barry have a new crush? (Bloomberg
BofA's $19 Billion Woman (FINS)
Lisa Carnoy is BofA/ML
's new co-head of global capital markets. She helped the bank raise $19 billion to help pay off a TARP loan. Six million dollar man? So last century.
Hell No, We Won't Go (WSJ)
Lower, that is. Goldman
CFO David Viniar said the firm slashed exec comp in 2009, but that we shouldn't expect that to become a template for 2010.
All in the Family (FT)
For the first time in its 212-year history, the Rothschild banking family is set to appoint a non-family member as chief executive. Were Chanukah dinners just becoming unbearable?
Cleaning Up (Reuters)
Jumping on Citigroup
's bandwagon, Deutsche Bank
are unveiling a global alternative energy and clean technology stock index for companies that are thoroughly entrenched in the clean tech sector.
Money Mills (DealBook)
honchos said Wednesday that 2010 will prove a difficult year for fundraising. The Girl Scouts can all sympathize.
New Fund (FT)
Temasek, one of Singapore's two sovereign wealth funds, is setting up a new unit with about $4 billion to invest.
Meaningful Extrapolation (Telegraph)
People who take big risks may have a brain defect, a new study shows. Was that study commissioned by Wall Street haters?
Weather Blues (Bloomberg)
New York-area Bankers who can't make it home on account of bad weather have no choice but to stay overnight in a hotel in the city and drink away their sorrows. The term "snow whiskeys" has replaced "snow birds."
Diploma Diplomacy (NY Post)
An accountant who was convicted of leaking confidential information at PwC
is suing NYU for revoking his MBA degree. Does he not think they have just cause?
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