Mormon Shivs Mormon With Mormon and Other Headlines From Double Down

Taylor Berman · 11/01/13 02:53PM

The major news out of Mark Halperin and John Heilemann's Double Down is that Obama considered dumping Biden as vice-president, but the book also solves one of the 2012 presidential campaign's biggest mysteries: Who told Harry Reid that Mitt Romney paid “basically” no taxes for a decade.

Open Hands, Deep Pockets

cityfile · 11/03/08 06:15AM

♦ Treasury officials say as many as 1,800 institutions may apply for government investments in the next few weeks. [WSJ]
♦ GM hasn't been so lucky extracting cash: The Treasury has turned down a request by the automaker for $10 billion to help finance a merger with Chrysler. [NYT]
Henry Kravis's KKR is delaying its plan to go public on the NYSE until 2009. [CNNMoney]

AIG Runs Low (Again), Some Hedgies Expand

cityfile · 10/30/08 05:31AM

♦ AIG is already running out of the $123 billion in cash it was provided by the Federal Reserve, which means the authorities are slowly waking up to idea that something else might be going on. [NYT]
♦ The U.S. economy shrank at a 0.3 percent annualized rate in the third quarter as consumer spending declined at the fastest rate in 28 years. [MW]
♦ The Fed's half-point rate cut yesterday? It won't do much to prop up the economy. [NYP]
Andrew Cuomo has asked banks to provide his office with bonus data. [NYT]
♦ Some hedge funds are still raking in cash from investors. Steve Cohen's SAC is down 5.5 percent in 2008 (and he's moved most of his funds into cash), but he's accepting new funds beginning in January. [Bloomberg]

New Partners at Goldman, Hit to Hedge Funds

cityfile · 10/28/08 05:09AM

♦ Better news from abroad today: global stocks rebounded overnight, with shares in Hong Kong climbing more than 14 percent. [CNNMoney]
♦ Goldman Sachs will name its new partners today; it's expected to be the smallest such group in the firm's history. [Telegraph, Clusterstock]
♦ The average hedge fund was down 8.4 percent in October. Layoffs in the industry are mounting: Glenn Dubin's Highbridge Capital is the latest fund to announce cuts, trimming 10 percent of the company's staff. [NYP]
♦ Barclays is seeking to raise $10 billion from Russian banks. [WSJ]
♦ Fidelity may lay off 4,000 employees. [Boston Globe]

Street Talk: The Day After

cityfile · 09/30/08 05:14AM

♦ A recap of what happened on Wall Street yesterday, just in case you've been asleep for the last 36 hours. [NYT]
♦ In a statement this morning President Bush said he was disappointed the bailout bill didn't pass and warned that "painful and lasting'' economic damage will follow if a settlement isn't reached. Then, like the rest of Congress, he used Rosh Hashanah as an excuse to skip out for the rest of the day. [CNNMoney, Bloomberg]
♦ Wall Street bonuses could be down as much as 50 percent this year. [DB]
♦ Mitsubishi has completed its deal to invest $9 billion in Morgan Stanley; thanks to yesterday's market it's only down $500 million since the deal was announced last week. [NYT]