11Vote!
Crooks and Liars (Free subscription) | yesterday
Via Raw Story . You know, I not only want the money back, I want these people put in jail. They took the money and ran from their own culpability: The CEOs of Bear Stearns and Lehman Brothers, the two investment banks that collapsed during last year's financial meltdown, walked away with hundreds of millions of dollars in compensation even as the company's shareholders lost everything, says...
10Vote!
The Big Picture (Free subscription) | 11/23/2009
Everyone knows that senior execs at Bear Stearns and Lehman Brothers were paid largely in stock, and that they lost most of their wealth when the companies collapsed, right? Turns out, not so much: “Three professors at Harvard are disputing that logic in a new study, saying it is an urban myth that executives at Bear and [...]
4Vote!
Market Watch (Free subscription) | 11/23/2009
NEW YORK (MarketWatch) -- The top executives at Lehman Brothers Holdings Inc. and Bear Stearns Cos. cashed out almost $2.5 billion from their firms between 2000 and 2008, according to a report in Monday's Wall Street Journal. Citing a study set for release later Monday, the Journal said the top five executives at the two now-defunct companies received cash bonuses of about $500 million from...
10Vote!
The Huffington Post (Free subscription) | 11/23/2009
At Lehman, the top five executives received cash bonuses and proceeds from stock sales totaling $1 billion between 2000 and 2008, and at Bear, the top five received more than $1.4 billion, according to the study, which was released on Sunday night on the Web site of the Program on Corporate Governance at Harvard Law School. More on Financial Crisis
3Vote!
GuruFocus Updates (Free subscription) | 9 hours ago
By Buffetteer. John Paulson is the President and Portfolio Manager of Paulson & Co. Inc. He was ranked by Absolute Return Magazine as the 3rd largest hedge fund in the world managing approximately $29 billion. Prior to forming Paulson & Co in 1994, John was a general partner of Gruss Partners and a managing director in mergers and acquisitions at Bear Stearns. Paulson & Co portfolio...
5Vote!
Raw Story (Free subscription) | 11/24/2009
The CEOs of Bear Stearns and Lehman Brothers, the two investment banks that collapsed during last year's financial meltdown, walked away with hundreds of millions of dollars in compensation even as the company's shareholders lost everything, says a new report from Harvard Law School. The top five executives at Bear Stearns made a total of $1.4 [...]
3Vote!
Cafe Hayek (Free subscription) | yesterday
Seekingexports comments on this post: Mr. Roberts, when you wrote “playing with our money” did you mean TARP funds or the funds from institutional investors such as government employee 401B funds (ie. U of V retirement)? Even though I don’t think that Lehman and Bear Stearns received rescue funds I think the ones who did, like B [...]
5Vote!
They gave us a republic (Free subscription) | yesterday
... played by the Wall Street Nobility. Study: CEOs cashed in before Wall Street meltdown The CEOs of Bear Stearns and Lehman Brothers, the two investment banks that collapsed during last year's financial meltdown, walked away with hundreds of millions of dollars in compensation even as the company's shareholders lost everything, says a new report from Harvard Law School. The top five executives...
10Vote!
Daily Kos (Free subscription) | 11/25/2009
Remember how we've been told that it wasn't twisted incentives that caused Bear Stearns and Lehman Brothers executives to take excessive risks? Those executives, the conventional narrative has it, were paid largely in stock that plunged in value when their companies collapsed. The crash, we're led to believe, took them with it. In fact, the top five executives at each of the two companies did...
3Vote!
What Really happened (Free subscription) | yesterday
The CEOs of Bear Stearns and Lehman Brothers, the two investment banks that collapsed during last year's financial meltdown, walked away with hundreds of millions of dollars in compensation even as the company's shareholders lost everything, says a new report from Harvard Law School. WRH permalink
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The Business Insider (Free subscription) | 11/24/2009
After acquiring Bear Stearns (and its associated technology platforms), JP Morgan is now poised to launch a new dark pool called JPM-X. It's designed to be an all-out alternative trading system unlike its Lighthouse liquidity pool which was an internal network. JPM stresses that JPM-X will not offer flash orders - a hot topic in the world of HFT: Traders : JPM-X, on the other hand, is an ATS....
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Blue Mass. Group - Front Page (Free subscription) | yesterday
... crisis: It counted the new ways in which the school was instructing its students (e.g. adding Bear Stearns to its case studies) and helping alumni ride out the crisis. It was all rather technical, analytical, self-congratulatory ... and strangely cold-blooded, in that familiar Harvard way. For example: Developing an understanding of the crisis touches virtually everything we teach in the...
9Vote!
Jazz Dancers NBA (Free subscription) | 11/24/2009
Danielle Chiesi of New Castle Partners LLC, the one-time equity hedge fund group at Bear Stearns Asset Management Inc., is escorted by an FBI agent in New York, October 16, 2009. Chiesi and five others were charged with crimes including securities fraud and conspiracy involving insider trading that generated more than $20 million in profits, U.S. prosecutors and the FBI said.
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Creative Destruction (Free subscription) | 11/23/2009
The New York Times has a very confusing write-up of the Bebchuk, Cohen and Spamann paper on executive compensation at Bear Stearns and Lehman Brothers. The paper itself is crystal clear. From the conclusion: The stories of Lehman and Bear Stearns will undoubtedly remain in the annals of financial disaster for many years to come. To understand what has happened, and what lessons should...
