Footage of Mitt Romney’s remarks about the 47 percent voters who don’t pay taxes or depend on government assistance—”I’ll never convince them they should take personal responsibility and care for their lives”—was taken in the Florida home of Marc Leder, co-CEO of private equity firm Sun Capital Partners, said David Corn, the reporter who published video clips at Mother Jones. Mr. Leder, a part-owner in the Philadelphia 76ers, is as TPM points out, also known for his bacchanals: “At the Bridgehampton home that Leder rented for a whopping $500,000 a month, guests cavorted nude in a pool and performed sex acts, while scantily clad Russian women danced on platforms,” The New York Post reported last year.When Greenlight Capital founder David Einhorn has something bad to say, people listen. When he says something good? Less so. Those are the findings of The Wall Street Journal’s review of the stock performance of 22 companies that Mr. Einhorn has commented on during public appearances on television or at investor conferences, or in letters to Greenlight’s limited partners. In nine cases in which investors perceived Mr. Einhorn’s view of a company as negative, shares fell by a median 4.9 percent on the same day, and 13 percent over the next 30 days. In 13 cases in which his remarks were seen as positive, shares rose 0.8 percent on the same day, 10 percent for the month.
Peregrine Financial Group founder Russell Wasendorf Sr. pleaded guilty to charges that he stole about $200 million from clients at the futures firm. It was initially believed that Mr. Wasendorf would be set free pending sentencing, the judge ordered the fraudster held behind bars pending a determination on the flight risk posed by the Iowa man. Meanwhile, Wasendorf’s son, Russell Jr., sued U.S. Bank for allegedly failing to supervise properly the transfer of customer funds.
Lenders to embattled broadband wireless company LightSquared want permission to go after Harbinger Capital, the hedge fund founded by Phil Falcone, in bankruptcy proceedings, The Wall Street Journal says.
A Morgan Stanley infrastructure fund is tripping over the Volcker rule, which dictates how much of its own capital a bank can risk, according to Reuters. Some senior executives have left the firm rather than accept a smaller share of profits.
SEC Chairman Mary Schapiro is on medical leave, according to The New York Post, and may leave the agency before her term expires in 2014.
Andrew Ross Sorkin relegates the Occupy Wall Street to the dustbin of history, along with the misfits and vagabonds he says diminished the movement.
Harvard grads are earning less than alumni of the South Dakota School of Mines & Technology, says Bloomberg.
Short sellers have more than doubled their bets against Manchester United since the British soccer club that went public in a U.S. offering this summer, according to the Telegraph (h/t Business Insider).