James Frey has a new (legitimately fictional) book out called Bright Shining Morning. At a reading last night, when asked by an audience member if he ever found it...

MEDIA • Will the invasion of the Brits continue? London Daily Telegraph editor Will Lewis seems like the perfect guy for the Wall Street Journal managing-editor...

So what's hot on Wall Street? Famous Stock Pickers. I mean ask yourself this question, could Steve Smith hit a major league curve better than Lenny hit on some DEEEEEP...

$$$ Blackstone Goes “Reservoir Dogs” [Deal Journal] $$$ Crab Hands/Nicole Kidman looking good in BX's annual report. Download the entire, glossy thing....

From Clusterstock: New York Magazine recently said Bear Stearns (BSC) employees didn't need sympathy because they were being paid to do, well, nothing. But that's not...

Feeling a little stupid or slow on the uptake lately? Kicking yourself for not seeing that subprime shitstorm coming from a mile away? Having belated regrets about...

FINANCE • Banking analyst Meredith Whitney says that Citigroup is so deep in a black hole that even physicist Stephen Hawking couldn't help the company. [NYP]...

On Tuesday, March 11, Federal Reserve Chairman Ben S. Bernanke lunched with what Bloomberg is describing as a “Who's Who of Wall Street leaders.” Attendees JPMorgan...

JPMorgan Chase has extended jobs offers to about 6,000 Bear Stearns employees, Reuters is reporting this morning. Bear is thought to have had around 14,000 employees just...

JPMorgan may lay off up to 4,000 of its own in the coming months. About half of the cuts are said to be related to making room for those “star” Bear Stearns...

Don't feel too sorry for the soon-to-be-laid-off employees at Bear Stearns: Right now they're getting paid to do nothing. "I'd say 50 percent of my department comes in at...

I strongly recommend reading both the post, and the comment thread regarding the Fed's recent request to begin offering (and taking) interest on bank reserves.Last week,...

Investment bankers at Bear Stearns are expected to learn as early as this week whether they’ll keep their jobs or be axed, The New York Post reported, citing...

JP Morgan has taken a hatchet to Bear Stearns' foreign exchange business, with 62 of 73 positions set to be “put on notice,” according to a Forex Factory story citing...

FINANCE • Billionaire investor Carl Icahn, who has stockpiled 50 million Yahoo! shares, might start a proxy fight to replace the Internet company's board members,...

James Hamilton writes, Now, there is nothing inherently wrong in making financial investments in the form of derivative contracts rather than outright loans. You're...

Exchange traded notes (ETNs) are distant relatives of the exchange traded fund (ETF) and they come with their own unique issues attached. Matthew Hougan for Index...

Deep Insight Reduxby digbyI have posted dispatches over the last few months from a friend I call "Deep Insight" who has worked for many years in Democratic politics and...

Yes, according to conservative media group and underground revolutionary army-sounding The Resistance. Barbara “has now sunk to the very level of other...

On Wednesday, they finally took Bear Stearns out behind the woodshed and ended its lingering misery. On that day, the plaintiffs’ attorneys in the last remaining viable...