Spain Agrees to Audit, SEC Suspends Firebrand, Wall Street Roundup, Non-Jamie Dimon Division

If, inexplicably, you’re not interested in JPMorgan’s stunning $2 billion loss on a derivatives position accumulated by a trader known as Voldemoort, the London whale and just plain old Bruno Iksil, we’ve got the news from the rest of Wall Street:

Spain agreed to an independent audit of its financial system as the nation’s government seeks to head off concerns that bank bailouts are pushing public finances to the brink of collapse.

Failure to form a governing coalition could prompt a second round of elections in Greece.

The leftist Syriza party reiterated to European officials that it believes the debt deal signed by the previous Greek government is invalid.

Chesapeake Energy faces $1.4 billion in previously unreported liabilities.

David Weber, the SEC’s new assistant inspector general for investigations, was placed on leave and banned from entering agency HQ after telling c0lleagues that he wanted to carry a concealed firearm into the office.

Reports surfaced earlier this week that SEC had ordered an independent investigation into complaints of sexual harassment in its inspector general’s office.

The Facebook IPO is already oversubscribed, according to Reuters. The offering is generating weaker-than-expected demand, according to Bloomberg.

Yahoo! chief Scott Thompson told top executives that he never submitted a resume or inaccurate information about his background to the company, raising the question of how the inaccuracy wound up in SEC filings.

Morgan Stanley asked hedge fund run by former co-president Zoe Cruz to return funds last month, ahead of Ms. Cruz announcing yesterday that she would close the fund.

Former Lazard CEO William Loomis is back in an advisory role, UBS hired Peter Riccile as global c0-head of real estate, leisure and lodging investment banking and Societe General was said to hire Francis Repka as its CEO for Brazil.

Greenlight Capital founder David Einhorn won the seventh annual Hillel Texas Hold ‘Em tournament, helping to raise $500,000 to promote Jewish engagement on college campuses.

 

 

Article continues below
More from Politics
STAR OF DAVID OR 'PLAIN STAR'?   If you thought "CP Time" was impolitic, on July 2 Donald Trump posted a picture on Twitter of a Star of David on top of a pile of cash next to Hillary Clinton's face. You'd think after the aforementioned crime stats incident (or after engaging a user called "@WhiteGenocideTM," or blasting out a quote from Benito Mussolini, or...) Trump would have learned to wait a full 15 seconds before hitting the "Tweet" button. But not only was the gaffe itself bad, the attempts at damage control made the BP oil spill response look a virtuoso performance.  About two hours after the image went up on Trump's account, somebody took it down and replaced it with a similar picture that swapped the hexagram with a circle (bearing the same legend "Most Corrupt Candidate Ever!"!). Believe it or not, it actually got worse from there. As reports arose that the first image had originated on a white supremacist message board, Trump insisted that the shape was a "sheriff's star," or "plain star," not a Star of David. And he continued to sulk about the coverage online and in public for days afterward, even when the media was clearly ready to move on. This refusal to just let some bad press go would haunt him later on.
Donald Trump More Or Less Says He’ll Keep On Tweeting as President