6 Free Financial Modeling Lessons...and More.

Points)

on 2/10/09 at 5:47pm

I think we all know that just about every area of our lives has been touched by the recession in one way or another, whether it be pinching pennies, stocking up on Ramen Noodle or rocking the unemployment line. So not surprisingly, this coming weekend’s Valentine’s Day festivities are projected to be somewhat dismal, at least as far as candy and flowers go.

The good news is the economy has had virtually no affect on peoples’ sex lives. In fact, even though googly eyed couples are expected to cut back on what they spend on their significant other this year, they’re not going to be skimping on action in the boudoir.

TARP Straight Talk from a Dem...

http://www.youtube.com/watch?hl=en&v=_NMu1mFao3w&g...

(Human, 14,358

Points)

on 2/10/09 at 12:48pm

I have to give credit where credit is due. Here is Rep. Paul Kanjorski (D, Pa) giving a pretty salient explanation of what happened in September of last year that ultimately led to TARP:

While I don't agree 100% with him about how an electronic run on the banks would cause the end of humanity as we know it, I have to admit that I wasn't aware of such a sudden and dramatic draw down in money market reserves. It definitely leads to some interesting questions.

Another 2,200 out at UBS

(Human, 14,358

Points)

on 2/10/09 at 7:25am

The bloodletting continues at UBS after reporting a $7 billion 4Q loss. The bank has announced an additional 2,200 layoffs in investment banking and the restructuring of their wealth management arm into two separate divisions, one Swiss and one American. Despite the layoffs, they brought on hundreds of American bankers in the fourth quarter.

ARTICLE HERE

TPG gets contrarian on distressed

slkyswtbllr05

(Baboon, 120

Points)

on 2/9/09 at 4:28pm

So in the private equity world everyone is bolstering up their distressed investing units EXCEPT TPG.

TPG Capital decided to reduce the size of its $6 billion distressed fund targeting financial institutions by 25%. TPG told investors it was scaling back its distressed financial fund because it was concerned the government's expanded role in the financial sector meant fewer opportunities for private sector firms. TPG says "we are competing with the government and their funding is cheaper"

Thoughts...

Did Thain actually ask for $40 mil???

http://nymag.com/daily/intel/2009/02/john_thain_bo...

(Human, 14,358

Points)

on 2/9/09 at 10:17am

I'm taking this with a grain of salt so far, because it might just be another hit piece on Thain from New York Magazine. But the magazine is reporting today that John Thain did not ask for a $10 million bonus for orchestrating the Merrill takeover. In fact, they allege, he asked for $40 million.

Now I like to think I've got some balls but, if this report ends up being accurate, Thain has a set for the record books. I knew I liked this guy.

Who said Wall Street doesn't know how to party?

Points)

on 2/6/09 at 5:46pm

It's true, Wall Street has taken quite a hit over the past several months, and those left working here have become the butt of more jokes than we can keep track of. A few of my favorites include:

Q: What’s the difference between a guy who just lost everything in Vegas and an investment banker?

A: A tie.

Q: What’s the difference between an investment banker and a pigeon?

A: The pigeon can still make a deposit on a Porsche.

Q: What is the difference between a dead cat and a bad investment?

A: You still get a bounce from the dead cat when they are thrown out of the window.

Paulson in the Hot Seat -- Again

http://www.financialweek.com/apps/pbcs.dll/article...

(Human, 14,358

Points)

on 2/6/09 at 9:13am

In a case of some correctly-aimed scapegoating, Stutterin' Hank has some 'splaining to do. Like, for example maybe, why he allowed the Treasury to pay a 44% across the board premium on TARP companies:

Another sticky wicket might be why he brought on so much talent from his TARP buddies:

Separately, Treasury under Mr. Paulson hired a number of employees from banks that were receiving funds under the Troubled Asset Relief Program, creating “incestuous” relationships and potential conflicts of interest, Mr. Shelby said.

Deutsche Bank poaches Merrill, Posts 4Q Loss

http://www.breitbart.com/article.php?id=CNG.c3b86e...

(Human, 14,358

Points)

on 2/5/09 at 8:36am

Deutsche Bank has had a busy week. After poaching an entire deal team from Merrill Lynch, the German bank posted its first quarterly loss since World War II. Unlike their American counterparts, D-Bank officials also had the stones to tell the German government what they could do with their bailout package.

The Merrill move is pretty solid strategy on their part. D-Bank grabbed a bunch of guys who were probably getting happy feet anyway, and positioned themselves to benefit from all the inevitable bank carnage over the next couple years.

Current Debt Terms

ke18sb

(King Kong, 1,092

Points)

on 2/4/09 at 10:42pm

What are current terms people are seeing in the market for senior and sub debt associated with buyouts? Specifically for companies in the lower middle market, maybe $10 to $20 million in EBITDA.

Bill Gates Dumps Insects on Crowd

http://www.bloomberg.com/apps/news?pid=20601087&si...

Points)

on 2/4/09 at 10:20pm

Seriously, Bill Gates needs to go back to work. Since his retirement last summer he is now left to his own devices and he's decided to take on malaria. Ok, a somewhat worthy cause. But the question is, what is the best way to make people truly understand how the disease is transmitted? Well, apparently simply explaining to a room full of reasonably intelligent adults that the main way it's spread is by mosquito bites just wouldn't quite get his point across so instead he chose to release a batch of the hungry little buggers right into the crowd. Sorry I missed that party.

Obama - Salary Cap at 500k for executives!

(Orangutan, 350

Points)

on 2/4/09 at 3:45pm

Obama - Salary Cap at 500k for executives!

President Barack Obama called bonus payouts at banks getting rescue funds “shameful” as he and Treasury Secretary Timothy Geithner announced the government will require financial companies getting aid in the future to cap compensation of top officials at $500,000 a year.

“To restore our financial system, we’ve got to restore trust,” Obama said at the White House as he set out new rules for companies that seek “exceptional” assistance from the Treasury. “And in order to restore trust, we’ve got to make certain that taxpayer funds are not subsidizing excessive compensation packages on Wall Street."

Wow...500k, just wow

Waiting Lists? And side deals?

clueless_lol

(Monkey, 31

Points)

on 2/3/09 at 9:58pm

I'm waiting to hear back from JPM IBD for a SA position. Do these places have waiting lists? If they do and I end up on it (for some reason i really think this will happen), what's the word on offering someone who got the offer a cash sum to go with another firm? i.e. if someone also gets MS or Goldman and is deciding between them, I negotiate with them--maybe offer $1k--to take the other offer. Legal?

Newsflash: Obama Admits to Screw Up