Unstructured Finance

Once-obese Goldman analyst becomes fitness evangelical, gym CEO

March 21, 2013

Wall Street is shrinking, but so are some of its bankers.

Eight years ago, Goldman Sachs Group’s Kishan Shah weighed 400 pounds and couldn’t find a suit that fit his 62” waist for a job interview. Now he’s 195 pounds, and he’s quitting Goldman to spread the gospel of healthy weight loss as chief executive of a chain of gyms for obese Americans.

One more try at the Great Refi

February 12, 2013

By Matthew Goldstein

Don’t be surprised if President Obama includes a line or two in his State of Union address this evening about the need for a plan to allow millions of struggling homeowners whose mortgages are packaged into so-called private label mortgage-backed securities to get a chance to either refinance their loans or restructure them.

Obama hearts El-Erian

December 26, 2012

By Sam Forgione and Matthew Goldstein

OK, so it’s not a big gig like being nominated to head the Treasury Dept. But President Obama’s decision to tap PIMCO’s Mohamed El-Erian to head the President’s Global Development Council is no insignificant matter.

UF Weekend Reads

September 7, 2012

Two weeks of speechifying by the Dems and Reps has come to an end. Well not really–but the conventions are over. And for all the talk, there is one issue that got short-shrift–a solution to the nation’s still unfolding housing crisis.

Hedge funds against Obama

By Jennifer Ablan
December 19, 2011

By Jennifer Ablan and Matthew Goldstein

Class warfare has been the topic du jour this year and is likely to be a major theme of the 2012 election. In a speech two weeks ago, President Barack Obama blasted his Republican foes and Wall Street as he portrayed himself as a champion of the middle class.

How cutting prop desks hits M&A

February 1, 2010

A wee while ago, DealZone posited that bonus-hungry bankers who had gravitated to bank prop desks might return to the once-glorified M&A desks after the Obama administration targeted banks’ proprietary trading as a business too risky for banks. A logical argument, but one that ignored an aspect of the M&A game that is becoming starkly obvious: deals putting trading operations into banks are clearly at risk.

Sugar shortage spawns sweet jokes from late-night comedian

By Reuters Staff
August 21, 2009

By Christopher Doering 
    
The surge in sugar prices and potential risk of a shortage has provided some sweet fodder for one late-night comedian who can’t help but poke fun at the attention the tasty ingredient is receiving.
 
colbertStephen Colbert, who hosts the Colbert Report on Comedy Central, spent part of his show this week lamenting the sugar crisis. 
 
After showing a montage of television clips about the sugar situation, Colbert proceeded to break a glass cover — similar to one containing a fire extinguisher — and pulled out a bag of sugar, which he dosed all over himself.
 
“Oh my God, there’s a sugar shortage,” said Colbert. “How could this happen. Well, like interstate highways and potable water it’s the government’s fault.”
 
Large U.S. food companies, including Kraft Foods, General Mills Inc and Hershey Co, have been pushing the Obama administration to ease sugar import curbs, citing forecasts for unprecedented sugar shortages that could result in higher retail prices and possible job losses.
 
In a letter to U.S. Agriculture Secretary Tom Vilsack dated Aug. 5, the companies and other groups warned that “our nation will virtually run out of sugar,” if a USDA forecast is accurate.
 
“Can you imagine an America with no sugar?” said Colbert. “Juice would contain nothing but 10 percent juice and we’d all be eating uncaramelized apples. What are we going to do?” 

Chrysler, an American Bankruptcy

May 1, 2009

CHRYSLER/DEALERSChrysler’s private equity owners Cerberus, or at least their lawyers, will arrive at bankruptcy court in Manhattan later this morning. Yesterday, President Obama assured hand-wringing industrialists that the process would be quick and efficient and that Chrysler would emerge a leaner, meaner machine.