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’Wall Street will return to work Monday
This came via the SEC home page. You can see the Nyse’s recent announcements here. Sifma has also recommended that bond trading resume Monday.
Like FT Alphaville, Wall Street will be open for business on Monday but not fully staffed,
Bastiat’s revenge, east coast earthquake edition
Or, an excessively literal test of the Broken Windows fallacy.
An earthquake registering 5.9 on the Richter scale centered in Virginia and felt in the Washington DC area and right up the east coast of the United States. From the New York Times:
Fiscal anxiety crosses the pond
Here is an arresting graphic (click to enlarge):
The Bloomberg chart above shows the 5-year CDS for California, Illinois and New York, bond insurer Dexia added for context.
This chart is being circulated in the wake of a piece in Tuesday’s FT which focused on increased investor concern about rising local government debt in the US:
The ultimate in Jingle Mail
Jingle Mail : A situation where a homeowner mails his or her house keys to a mortgage lender due to an inability to meet mortgage payment obligations and a lack of equity in the property. If a homeowner is upside-down in a mortgage and feels the entire loan is a lost cause,
More bad news for Tishman Speyer and NY commercial real estate
One day after the Federal Reserve’s Beige Book suggested a recovery in US commercial real estate was a ways off, the New York Times reported on a court decision that could affect on thousands landlords across the city:
When fashion meets finance (sort of)
Bad things always seem to happen when fashion and finance collide.
We wonder if American Express is rethinking its latest PR move – giving 600 cardholders access to an exclusive runway show by New York designer Phillip Lim.
Krugman makes a $1.7m Manhattan bet
Ha! Could this explain Nobel economist Paul Krugman’s recent turn to the bullish-side?
As the New York Observer reports, Krugman has splashed out $1.7m on a three-bedroom Riverside Drive Manhattan apartment.
Lehman’s $627m tax bill
The NY Times’ DealBook reported on Wednesday that Lehman Brothers stands accused – by none other than the administration of New York mayor Michael Bloomberg – of shortchanging the city to the tune of $627m in corporate and other taxes.
Recession over! Worst of the New York dating scene returns
Kill us.
Fashion meets Finance – the New York-based social service that aims to match attractive but relatively poor women with relatively unattractive but rich finance professionals correct gender imbalances between New York bar scenes,
Very clever, thanks a lot for that photo op
At approximately 1514 BST on Monday Reuters reports:
F16 JET ACCOMPANYING A COMMERCIAL JET TO A NEW YORK AIRPORT – REASON NOT KNOWN
Evacuations galore proceed – banks, bars, commercial buildings etc.
State by state stimulus
From an FRBSF article, showing funds received vs projected 2010 state budget gaps.
Some states, like New York, appear to be making profits while others, like California and Connecticut, look to be in much tighter spots (H/T Econbrowser).
IB salary data point of the day
Want to know what your (less discreet) investment banking peers are making in these troubled times?
Fashion meets Finance, the social service that aims to match attractive but relatively poor women with relatively unattractive but rich finance professionals correct gender imbalances between New York bar scenes,
Of Citigroup and sandwiches
Citigroup may be having a rough time of it — $50bn in credit-related writedowns, a looming break-up and continued pressure on its capital — but hey, at least they still have enough money to give their employees a free lunch.
Threat to New York as centre of finance
New York is facing a threat to its position as the world’s leading financial centre, according to a report commissioned by Michael Bloomberg, the city’s mayor. If current trends continue, New York could lost up to seven percentage points of its market share,