<?xml version="1.0" encoding="UTF-8"?><?xml-stylesheet type="text/css" media="screen" href="http://s2.wp.com/wp-content/themes/vip/newyorkobserver/stylesheets/rss.css"?>
<rss version="2.0"
	xmlns:content="http://purl.org/rss/1.0/modules/content/"
	xmlns:wfw="http://wellformedweb.org/CommentAPI/"
	xmlns:dc="http://purl.org/dc/elements/1.1/"
	xmlns:atom="http://www.w3.org/2005/Atom"
	xmlns:sy="http://purl.org/rss/1.0/modules/syndication/"
	xmlns:slash="http://purl.org/rss/1.0/modules/slash/"
	xmlns:georss="http://www.georss.org/georss" xmlns:geo="http://www.w3.org/2003/01/geo/wgs84_pos#" xmlns:media="http://search.yahoo.com/mrss/"
	>

<channel>
	<title>Observer &#187; IKB</title>
	<atom:link href="http://observer.com/term/ikb/feed/" rel="self" type="application/rss+xml" />
	<link>http://observer.com</link>
	<description></description>
	<lastBuildDate>Wed, 19 Jun 2013 22:36:06 +0000</lastBuildDate>
	<language></language>
	<sy:updatePeriod>hourly</sy:updatePeriod>
	<sy:updateFrequency>1</sy:updateFrequency>
	<generator>http://wordpress.com/</generator>
<cloud domain='observer.com' port='80' path='/?rsscloud=notify' registerProcedure='' protocol='http-post' />
<image>
		<url>http://1.gravatar.com/blavatar/dac0f3722a48a53be75eb06c0c4f5119?s=96&#038;d=http%3A%2F%2Fs2.wp.com%2Fi%2Fbuttonw-com.png</url>
		<title>Observer &#187; IKB</title>
		<link>http://observer.com</link>
	</image>
	<atom:link rel="search" type="application/opensearchdescription+xml" href="http://observer.com/osd.xml" title="Observer" />
	<atom:link rel='hub' href='http://observer.com/?pushpress=hub'/>
		<item>
				
		<title>Hedge Fund Manager Scores Point Against Argentinean Navy; JPMorgan&#8217;s Third-Quarter Profit Rises: Roundup</title>

		<comments>http://observer.com/2012/10/roundup/#comments</comments>
		<pubDate>Fri, 12 Oct 2012 06:47:31 -0400</pubDate>
					<link>http://observer.com/2012/10/roundup/</link>
			<dc:creator>Patrick Clark</dc:creator>
				
		<guid isPermaLink="false">http://observer.com/?p=269220</guid>
		<description><![CDATA[<p>Naval enthusiast <strong>Paul Singer</strong> of Elliott Management and secretive Mexican financier <strong>David Martinez</strong> are still battling in court, according to <em>The New York Times. </em>Mr. Martinez is said to have a $140 million painting by Jackson Pollock in his Time Warner Center apartment, but no one is willing to stake their name on it. Also unconfirmed: Mr. Singer has plans to squeeze a 100-foot tall sailing ship into a giant glass bottle.</p>
<p>Which is to say, a court in Ghana ruled in favor of Mr. Singer yesterday, affirming the hedge fund manager's <a href="http://www.nypost.com/p/news/business/singer_really_hipshape_fbXAzgLMhFESe41cbjODpI?utm_medium=rss&amp;utm_content=Business">right to seize a training ship</a> owned by the Argentinean navy over unpaid sovereign bonds. The Elliott Management affiliate contesting the issue is believed to be asking $20 million to return the three-masted frigate.</p>
<p>When you say not-nice things about people, they tend to say not-nice things about you, at any rate, that's been the case for <strong>Greg Smith</strong>, noted ping pong enthusiast and author of the forthcoming memoir, <em>Why I Left Goldman Sachs. </em>With the book set to come out next week, some Goldman bankers chatted up the <em>Financial Times</em>, <a href="www.ft.com/cms/s/0/3ce217da-12e4-11e2-aa9c-00144feabdc0.html#axzz28px6GSkc">telling the paper</a> that until shortly before Mr. Smith's resigned on the op-ed page of <em>The New York Times</em>, he'd seemed more concerned with how much money he was making, and less interested in what he later labeled Goldman's toxic culture.</p>
<p>In other news, 99 percent of the times Goldman bankers used the word "<strong>muppet</strong>" they were referring to <a href="www.ft.com/intl/cms/s/0/6ead2e86-12e8-11e2-aa9c-00144feabdc0.html#axzz294wjzXg3">last year's movie</a>, again, according to the <em>FT.</em></p>
<p>Goldman CEO <strong>Lloyd Blankfein</strong> would <a href="http://www.cnbc.com/id/49379431">pay higher taxes </a>if it meant he didn't have to read Mr. Smith's book, or you know, if it would reduce the national debt or something.</p>
<p><strong>JPMorgan</strong> said third-quarter profit rose 34 percent from a year ago as revenue from <a href="http://investor.shareholder.com/jpmorganchase/releasedetail.cfm?ReleaseID=712999">mortgage-lending rose</a>.</p>
<p>The firm's chief financial officer <strong>Doug Braunstein</strong> is <a href="www.bloomberg.com/news/2012-10-11/jpmorgan-finance-chief-braunstein-said-to-weigh-new-role.html">considering a new role</a> at the bank, according to Bloomberg. Head of regulatory affairs and former chief risk officer Barry Zubrow was said last week to be retiring at the end of the year.</p>
<p><strong>Morgan Stanley </strong>and <strong>IKB </strong>are being sued for <a href="http://www.bloomberg.com/news/2012-10-11/morgan-stanley-e-mails-show-doubts-in-doomed-vehicle.html">selling mortgage-backed securities</a> that quickly soured, turnabout for IKB, which has often been on the <a href="http://www.google.com/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=3&amp;cad=rja&amp;ved=0CDAQFjAC&amp;url=http%3A%2F%2Fobserver.com%2F2012%2F09%2Fgerman-lender-is-suing-everybody-nomura-cost-cuts-hit-europe-unit-roundup%2F&amp;ei=rvl3UP2vOo-y0AHinoHgCQ&amp;usg=AFQjCNHsHnATxn9hymfYAwslvnh3DScTXA">other side</a> of mortgage lawsuits.</p>
<p><strong>Brian Moynihan</strong> is still planning on letting go <a href="http://www.nypost.com/p/news/business/moynihan_to_follow_through_on_cuts_DfQgRDEVxYKGSnH6uCf21J">30,000 employees</a>.</p>
<p>Larry Ellison may be bidding on <a href="http://www.reuters.com/article/2012/10/12/us-aeg-ellison-idUSBRE89B03720121012">sports and entertainment giant</a> <strong>Anschultz Entertainment Group</strong>, according to Reuters.</p>
<p>Alexander Rekeda, a former trader at <strong>Mizuho Financial Group</strong>, was the rare distinction being charged over <a href="http://online.wsj.com/article/SB10000872396390444657804578050913205816962.html?mod=WSJ_hp_LEFTWhatsNewsCollection">two separate derivatives deals</a> he structured in the run-up to the financial crisis.</p>
]]></description>
		<content:encoded><![CDATA[<p>Naval enthusiast <strong>Paul Singer</strong> of Elliott Management and secretive Mexican financier <strong>David Martinez</strong> are still battling in court, according to <em>The New York Times. </em>Mr. Martinez is said to have a $140 million painting by Jackson Pollock in his Time Warner Center apartment, but no one is willing to stake their name on it. Also unconfirmed: Mr. Singer has plans to squeeze a 100-foot tall sailing ship into a giant glass bottle.</p>
<p>Which is to say, a court in Ghana ruled in favor of Mr. Singer yesterday, affirming the hedge fund manager's <a href="http://www.nypost.com/p/news/business/singer_really_hipshape_fbXAzgLMhFESe41cbjODpI?utm_medium=rss&amp;utm_content=Business">right to seize a training ship</a> owned by the Argentinean navy over unpaid sovereign bonds. The Elliott Management affiliate contesting the issue is believed to be asking $20 million to return the three-masted frigate.</p>
<p>When you say not-nice things about people, they tend to say not-nice things about you, at any rate, that's been the case for <strong>Greg Smith</strong>, noted ping pong enthusiast and author of the forthcoming memoir, <em>Why I Left Goldman Sachs. </em>With the book set to come out next week, some Goldman bankers chatted up the <em>Financial Times</em>, <a href="www.ft.com/cms/s/0/3ce217da-12e4-11e2-aa9c-00144feabdc0.html#axzz28px6GSkc">telling the paper</a> that until shortly before Mr. Smith's resigned on the op-ed page of <em>The New York Times</em>, he'd seemed more concerned with how much money he was making, and less interested in what he later labeled Goldman's toxic culture.</p>
<p>In other news, 99 percent of the times Goldman bankers used the word "<strong>muppet</strong>" they were referring to <a href="www.ft.com/intl/cms/s/0/6ead2e86-12e8-11e2-aa9c-00144feabdc0.html#axzz294wjzXg3">last year's movie</a>, again, according to the <em>FT.</em></p>
<p>Goldman CEO <strong>Lloyd Blankfein</strong> would <a href="http://www.cnbc.com/id/49379431">pay higher taxes </a>if it meant he didn't have to read Mr. Smith's book, or you know, if it would reduce the national debt or something.</p>
<p><strong>JPMorgan</strong> said third-quarter profit rose 34 percent from a year ago as revenue from <a href="http://investor.shareholder.com/jpmorganchase/releasedetail.cfm?ReleaseID=712999">mortgage-lending rose</a>.</p>
<p>The firm's chief financial officer <strong>Doug Braunstein</strong> is <a href="www.bloomberg.com/news/2012-10-11/jpmorgan-finance-chief-braunstein-said-to-weigh-new-role.html">considering a new role</a> at the bank, according to Bloomberg. Head of regulatory affairs and former chief risk officer Barry Zubrow was said last week to be retiring at the end of the year.</p>
<p><strong>Morgan Stanley </strong>and <strong>IKB </strong>are being sued for <a href="http://www.bloomberg.com/news/2012-10-11/morgan-stanley-e-mails-show-doubts-in-doomed-vehicle.html">selling mortgage-backed securities</a> that quickly soured, turnabout for IKB, which has often been on the <a href="http://www.google.com/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=3&amp;cad=rja&amp;ved=0CDAQFjAC&amp;url=http%3A%2F%2Fobserver.com%2F2012%2F09%2Fgerman-lender-is-suing-everybody-nomura-cost-cuts-hit-europe-unit-roundup%2F&amp;ei=rvl3UP2vOo-y0AHinoHgCQ&amp;usg=AFQjCNHsHnATxn9hymfYAwslvnh3DScTXA">other side</a> of mortgage lawsuits.</p>
<p><strong>Brian Moynihan</strong> is still planning on letting go <a href="http://www.nypost.com/p/news/business/moynihan_to_follow_through_on_cuts_DfQgRDEVxYKGSnH6uCf21J">30,000 employees</a>.</p>
<p>Larry Ellison may be bidding on <a href="http://www.reuters.com/article/2012/10/12/us-aeg-ellison-idUSBRE89B03720121012">sports and entertainment giant</a> <strong>Anschultz Entertainment Group</strong>, according to Reuters.</p>
<p>Alexander Rekeda, a former trader at <strong>Mizuho Financial Group</strong>, was the rare distinction being charged over <a href="http://online.wsj.com/article/SB10000872396390444657804578050913205816962.html?mod=WSJ_hp_LEFTWhatsNewsCollection">two separate derivatives deals</a> he structured in the run-up to the financial crisis.</p>
]]></content:encoded>
		<wfw:commentRss>http://observer.com/2012/10/roundup/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	
		<media:content url="http://0.gravatar.com/avatar/6d70d905cefb5ef1d46759583ff55c9f?s=96&#38;d=identicon&#38;r=G" medium="image">
			<media:title type="html">pclarkobserver</media:title>
		</media:content>
	</item>
		<item>
				
		<title>German Lender is Suing Everybody; Nomura Cost Cuts Hit Europe Unit; Roundup</title>

		<comments>http://observer.com/2012/09/german-lender-is-suing-everybody-nomura-cost-cuts-hit-europe-unit-roundup/#comments</comments>
		<pubDate>Thu, 06 Sep 2012 07:22:38 -0400</pubDate>
					<link>http://observer.com/2012/09/german-lender-is-suing-everybody-nomura-cost-cuts-hit-europe-unit-roundup/</link>
			<dc:creator>Patrick Clark</dc:creator>
				
		<guid isPermaLink="false">http://observer.com/?p=261217</guid>
		<description><![CDATA[<p><strong>IKB Deutsche Industriebank AG</strong> is <a href="http://www.bloomberg.com/news/2012-09-05/citigroup-sued-in-new-york-over-137-million-in-mortgage-bonds.html">suing everybody</a>, or at least it seems that way: the German lender is suing <strong>Citigroup</strong> and <strong>Goldman Sachs</strong> over losses of $137.4 million and $73.2 million, respectively, on mortgage-backed securities. In May, the Dusseldorf-based lender <a href="http://www.businessweek.com/news/2012-05-15/ikb-sues-bank-of-america-over-mortgage-backed-securities">sued </a><strong>Bank of America</strong> over losses of more than $200 million on mortgage bonds.</p>
<p><strong>Nomura</strong> will cut costs by about <a href="http://www.bloomberg.com/news/2012-09-06/nomura-said-to-plan-getting-almost-half-of-savings-from-europe.html">$500 million</a> in European business, according to Bloomberg. The Japanese financial firm has said previously it will seek to pare costs by $1 billion in its wholesale business.</p>
<p><strong>Morgan Stanley Smith Barney</strong> president Greg Fleming has been shuttling between cities of late to <a href="http://www.bloomberg.com/news/2012-09-05/morgan-stanley-s-fleming-visits-brokers-amid-technology-flaws.html">reassure financial advisers</a> that the company is working to fix technology issues that have plagued the firm, according to Bloomberg. According to a Reuters report last week, 40 or so advisers have been threatening to leave the firm.</p>
<p><strong>Wayne Chrebet </strong>is changing teams ... the former Jets wide receiver is part of a six-member wealth management group that's <a href="http://www.bloomberg.com/news/2012-09-05/barclays-hires-ex-jet-chrebet-s-team-from-morgan-stanley-1-.html">leaving</a> Morgan Stanley Smith Barney for <strong>Barclays</strong>.</p>
<p><strong>Citigroup</strong> is launching a European commodity trade finance business, according to <em>The Financial Times, </em>as the region's banks marshal funds to meet <a href="http://www.cnbc.com/id/48923517">stricter capital requirements</a>.</p>
<p>Nearly one in four Greeks were <a href="http://www.reuters.com/article/2012/09/06/us-greece-unemployment-idUSBRE8850EP20120906">out of work</a> in June. France's <a href="http://www.reuters.com/article/2012/09/06/us-france-economy-unemployment-idUSBRE8850AQ20120906">unemployment rate rose</a> to 10.2 percent, its highest level in 13 years in the second quarter.</p>
<p>Ranji H. Nagaswami, chief investment officer for New York City pensions, is <a href="http://www.bloomberg.com/news/2012-09-05/nagaswami-leaves-new-york-city-pension-post-to-join-bridgewater.html">leaving government service</a> for a role at <strong>Bridgewater</strong>, the world's largest hedge fund.</p>
<p><strong>Qatar's</strong> sovereign wealth fund remains a <a href="http://dealbook.nytimes.com/2012/09/05/qatar-imperils-big-merger-of-commodity-companies/">thorn in the side</a> of Glencore chief Ivan Glasenberg.</p>
<p><a href="http://www.cnbc.com/id/48915269">"Just in case it was unclear, you can’t moon your boss and expect to keep your job. Or your bonus."</a></p>
]]></description>
		<content:encoded><![CDATA[<p><strong>IKB Deutsche Industriebank AG</strong> is <a href="http://www.bloomberg.com/news/2012-09-05/citigroup-sued-in-new-york-over-137-million-in-mortgage-bonds.html">suing everybody</a>, or at least it seems that way: the German lender is suing <strong>Citigroup</strong> and <strong>Goldman Sachs</strong> over losses of $137.4 million and $73.2 million, respectively, on mortgage-backed securities. In May, the Dusseldorf-based lender <a href="http://www.businessweek.com/news/2012-05-15/ikb-sues-bank-of-america-over-mortgage-backed-securities">sued </a><strong>Bank of America</strong> over losses of more than $200 million on mortgage bonds.</p>
<p><strong>Nomura</strong> will cut costs by about <a href="http://www.bloomberg.com/news/2012-09-06/nomura-said-to-plan-getting-almost-half-of-savings-from-europe.html">$500 million</a> in European business, according to Bloomberg. The Japanese financial firm has said previously it will seek to pare costs by $1 billion in its wholesale business.</p>
<p><strong>Morgan Stanley Smith Barney</strong> president Greg Fleming has been shuttling between cities of late to <a href="http://www.bloomberg.com/news/2012-09-05/morgan-stanley-s-fleming-visits-brokers-amid-technology-flaws.html">reassure financial advisers</a> that the company is working to fix technology issues that have plagued the firm, according to Bloomberg. According to a Reuters report last week, 40 or so advisers have been threatening to leave the firm.</p>
<p><strong>Wayne Chrebet </strong>is changing teams ... the former Jets wide receiver is part of a six-member wealth management group that's <a href="http://www.bloomberg.com/news/2012-09-05/barclays-hires-ex-jet-chrebet-s-team-from-morgan-stanley-1-.html">leaving</a> Morgan Stanley Smith Barney for <strong>Barclays</strong>.</p>
<p><strong>Citigroup</strong> is launching a European commodity trade finance business, according to <em>The Financial Times, </em>as the region's banks marshal funds to meet <a href="http://www.cnbc.com/id/48923517">stricter capital requirements</a>.</p>
<p>Nearly one in four Greeks were <a href="http://www.reuters.com/article/2012/09/06/us-greece-unemployment-idUSBRE8850EP20120906">out of work</a> in June. France's <a href="http://www.reuters.com/article/2012/09/06/us-france-economy-unemployment-idUSBRE8850AQ20120906">unemployment rate rose</a> to 10.2 percent, its highest level in 13 years in the second quarter.</p>
<p>Ranji H. Nagaswami, chief investment officer for New York City pensions, is <a href="http://www.bloomberg.com/news/2012-09-05/nagaswami-leaves-new-york-city-pension-post-to-join-bridgewater.html">leaving government service</a> for a role at <strong>Bridgewater</strong>, the world's largest hedge fund.</p>
<p><strong>Qatar's</strong> sovereign wealth fund remains a <a href="http://dealbook.nytimes.com/2012/09/05/qatar-imperils-big-merger-of-commodity-companies/">thorn in the side</a> of Glencore chief Ivan Glasenberg.</p>
<p><a href="http://www.cnbc.com/id/48915269">"Just in case it was unclear, you can’t moon your boss and expect to keep your job. Or your bonus."</a></p>
]]></content:encoded>
		<wfw:commentRss>http://observer.com/2012/09/german-lender-is-suing-everybody-nomura-cost-cuts-hit-europe-unit-roundup/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	
		<media:content url="http://0.gravatar.com/avatar/6d70d905cefb5ef1d46759583ff55c9f?s=96&#38;d=identicon&#38;r=G" medium="image">
			<media:title type="html">pclarkobserver</media:title>
		</media:content>
	</item>
	</channel>
</rss>
