Citigroup says it gave Nasdaq a chance to make good on the botched Facebook IPO that cost market makers hundreds of millions of dollars. Now Citi has run out of patience, blasting the exchange in a 17-page letter to the Securities and Exchange Commission. “As set forth in detail below, the hundreds of millions Read More
Apparently people are willing to pay a premium to live in the apartment of a reclusive, doll-loving copper heiress. At least they are when it’s a massive, 12th-floor spread facing Central Park.
Boaz Weinstein, the founder of Saba Capital, has paid $25.5 million for co-op apartment 12W, a full $1.5 million over the $24 million ask. Read More
Naive! Morgan Stanley CEO James Gorman has no sympathy for Facebook investors who expected to profit from a first-day spike in share prices. “People who thought they were buying this stock so they could get an enormous pop were both naive and ordered under the wrong pretenses,” Mr. Gorman said yesterday in an interview with CNBC. To which he might have added: “Didn’t they read Devitt’s research?” Mr. Gorman, of course, had this to say in January to investment bankers upset over Morgan Stanley pay cuts: “You’re naive, read the newspaper.“ Read More
