- The big banks are not sufficiently capitalized to meet the new Basel III requirements, according to the Bank for International Settlements. The shortfall could be as large as $762.85 billion. [WSJ]
- If Basel III had been put in place for the end of 2010, banks would have faced a bill of $797 billion. Fortunately they have until 2019 to get their affairs sorted. [Bloomberg]
- Apparently readers haven’t been able to get enough of Bloomberg LP’s bylined opinion pieces — gems like “NYT] ” or “Man Up When It’s Time for Your Junk Pat down.” The media company plans to start running editorials under the banner “Bloomberg View.” [
- Morgan Sze, the high-powered head of the biggest Goldman Sachs proprietary trading desk, is starting his own hedge fund. It will be called Azentus Capital and will run out of Hong Kong. [FT]
- Big-dog investors like Paulson & Co. and Calpers, who lent Lehman Brothers money before its historic 2008 bankruptcy, have objected to Lehman’s proposed method of paying back its collossal debts. [Reuters]
mtaylor [at] observer.com | @mbrookstaylor
Follow Mike Taylor via RSS.