Story gets it wrong on Summers
Following on Saturday’s weather balloon detailing the Wall Street pay of Larry Summers, today the Times ran a piece on Summers’s work at the hedge fund DE Shaw. Replete with
Bubble belt basketball
Bank of America v. GM in tonight’s championship? (Daily Tar Heel, The State News) Summers made $5.2 million in last year at hedge fund DE Shaw, working one day a
At confession on Friday night
The Times reports today on extensive financial ties between financial industry players including Citigroup and D.E. Shaw and leading Obama economic advisers Lawrence Summers and Michael Froman. Some in the
Newsflash: Geithner & Citi were out to lunch
Geithner‘s meeting schedule as NY Fed president released; more meetings with executives of imploding Citigroup than any other bank. (ProPublica) Blagojevich indicted. (Chicago Tribune) CEO of bailed-out Citigroup among top
Regulators! Mount up?
As G20 gets underway, Obama resists regulatory overhaul of world financial system. (NYT) SC governor must decide whether to accept stimulus funds by Friday. (WSJ) Rattner charges new GM chair
Financial Fools’ Day across the pond
Obama and Brown show united front on economy; thousands jam downtown London in Financial Fools’ Day protests. (NYT, FT) Stiglitz in NYT: Geithner plan is “ersatz capitalism, the privatizing of
Big three put heads together, turn tables on Cerberus
Cerberus will lose stake in Chrysler as condition of Treasury‘s plan. (WSJ) Fate of Wagoner and auto industry decided by Rattner, Geithner, Summers in Roosevelt Room of White House. (WSJ)
What about Cerberus?
President Obama issued an ultimatum to GM and Chrysler today, setting out strict guidelines for the carmakers to meet before obtaining more government aid. Coupled with the forced resignation of
Wagoner circled
White House forces Wagoner to resign. (AP) Under investigation, Murtha protégé closes lobbying shop. (NYT) World’s largest private equity firm refuses to disclose returns to SEC. (Bloomberg) Barr, Garrett, Madison
Fly on the wall has explaining to do
US has had government-appointed attorney inside AIG board meetings and on-site since 2005. (WSJ) Cummings and 26 other members demand detailed information on why AIG made full payments to counterparties.