Comments on: Counterparties http://blogs.reuters.com/felix-salmon/2010/10/18/counterparties-241/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: bidrec http://blogs.reuters.com/felix-salmon/2010/10/18/counterparties-241/comment-page-1/#comment-19666 Mon, 18 Oct 2010 22:26:42 +0000 http://blogs.reuters.com/felix-salmon/?p=5857#comment-19666 @ 5:52 above should be “And lost their clients millions.”

On the same thread as banks lending their client’s money, however, I would like to add that BP Pension North America has asserted that Northern Trust in their capacity as investment manager lent the shares that the pension fund was long to short sellers. They then used the cash collateral from the shares lent to purchase shares from those same short sellers.

Plaintiff objected to “NTI’s …lending the NTGI Trust’s securities to some of the same borrowers from whom NTI purchased securities for the Collateral Funds…”

http://www.insurereinsure.com/files/uplo ad/73764-BP1.pdf paragraph 32

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By: bidrec http://blogs.reuters.com/felix-salmon/2010/10/18/counterparties-241/comment-page-1/#comment-19664 Mon, 18 Oct 2010 21:52:48 +0000 http://blogs.reuters.com/felix-salmon/?p=5857#comment-19664 Wells Fargo invested their client’s money in both the Cheyne and Stanfield Victoria SIVs. And lost them millions.

http://www.leagle.com/xmlResult.aspx?xml doc=In%20FDCO%2020100803B32.xml&docbase= CSLWAR3-2007-CURR

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By: ErnieD http://blogs.reuters.com/felix-salmon/2010/10/18/counterparties-241/comment-page-1/#comment-19582 Mon, 18 Oct 2010 15:30:33 +0000 http://blogs.reuters.com/felix-salmon/?p=5857#comment-19582 Andrew Cuomo has at least done something and he has been able to maintain a good image (I wonder if there is an inner Spitzer just waiting to come out?).

Rick Lazio needed to impress Upstate NY Republicans (Upstate is generally further north than Poughkeepsie for NYC people’s information). He didn’t do it when he ran against Hillary Clinton for the Senate seat. He didn’t do it this time running against a complete unknown.

I didn’t vote for Lazio in the primary because I couldn’t conceive of him governing NY in any capacity. At least Paladino has done something in the past and understands how state government impacts people on an economic level. As we regularly see in NYS government, it appears to be necessary to be a bigoted jerk to advance in the legislature, so that aspect of his personality would fit right into Albany.

NYS government needs a major shake-up. I don’t know if Cuomo has the temperament to do that. Paladino certainly has that, but I don’t know if he has the temperament to actually govern on the non-shake-up issues.

The two parties just keep giving us bad choices for state government. The Republicans need to take note of this as their hand-picked candidates are being used to wipe the floor.

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By: seanmatthews http://blogs.reuters.com/felix-salmon/2010/10/18/counterparties-241/comment-page-1/#comment-19570 Mon, 18 Oct 2010 09:51:54 +0000 http://blogs.reuters.com/felix-salmon/?p=5857#comment-19570 If I had 30K sitting around doing nothing, I might easily spring for an Alto. When I was working on my thesis, there was a room full of them (running interlisp) just around the corner from me – they were a bit old even then, but everyone was agreed that they ran the best operating system there had ever been, and that it had been downhill ever since. 20 years later, you could easily argue that it still is.

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