One school administrator for a posh private school in Manhattan told the New York Post that, "Sometimes, the parents are so high-maintenance, you almost rather see a nanny."
The news that Steven Cohen received a subpoena has led to some head-scratching and lots of tea-leaf reading, though in the end it's still unclear what the prosecution has in mind.
Lawyers for Rajat Gupta, the disgraced former Goldman Sachs director and ex-head of McKinsey, made the case for a new trial at a hearing this week.
Just two weeks before its 2013 annual shareholder meeting, JPMorgan's board had plenty to worry about. They set up a war room to grapple with the upcoming vote, and there was deep concern as the early vote trickled in, showing that a proposal to split the chairman and CEO positions was winning. The board started pulling out all the stops in a stepped-up lobbying campaign.
If the vote to split the Chairman and CEO positions at JPMorgan was indeed a referendum on Jamie Dimon, the combative leader of the bank just scored a resounding victory. In what has to be considered something of a shocker, just 32.2 percent of shareholders voted in favor of the split, compared with 40 percent last year.
In the end, will the shareholders win anyway?
Is it best to see Utah as the latest regional financial center, akin to a Singapore or Brazil? Or is it the latest outsourcing hotspot, akin to Mumbai or other outposts?
The news that top Wall Street banks have formed a partnership to develop an alternative to Bloomberg's chat service is not novel. The financial information juggernaut, which has its eyes on electronic trading as well, has long inspired fear in top banks, even before it became the leading vendor.
I noted recently that big banks were all too willing to sell their stakes in China banks these days. The latest is that Goldman Sachs has launched an offering of $1.1 billion worth of Hong Kong-traded shares in Industrial and Commercial Bank of China (ICBC), basically the bank's entire remaining stake.
The leveraged loan market is as hot as it has been in years. Yields are reaching 2004 levels as a classic buyers' market emerges. "The bells and whistles that were added to deals to make...