white men with money

Has Every Wall Streeter Gone Insane? A Graphical Guide.

Maybe it’s hubris brought on by the second Gilded Age, but 2007 may well go down as the Year the Wall Streeters Lost It. Just in time to coincide with our Money Issue, we’ve assembled a handy graphical breakdown of financial-worker malfeasance, from Albert Hsu entrapping an ex-mistress in a simulated rape-kidnapping to John Fitzgerald just plain having a monstrous ego. Spooky! —Dan Amira

Has Every Wall Streeter Gone Insane? A Graphical Guide.
THE FEED

Some bad news for everyone looking forward to a repeat of Giuliani’s “meltdown” last week

President Trump on Wednesday canceled his trip to Gettysburg, Pennsylvania, where he was scheduled to join his personal lawyer Rudy Giuliani for a Republican-led state Senate Majority Policy Committee hearing on alleged election irregularities.


… The cancellation comes after Giuliani was exposed to a second person who tested positive for the coronavirus. It’s unclear if that’s the reason the trip was cancelled.

Ya think?

This is about as close as Mayor de Blasio gets to an apology on schools reopening: “We didn’t have a Plan B and we should have had a Plan B.”
He says the city was trying to avert hitting 3 percent threshold. “In retrospect, clearly it would’ve been better” to have a Plan B.
@emmagf
politics
politics
Losing Hasn’t Changed Trump’s Stance on White Supremacy
His continued resistance to renaming military bases that honor Confederates — though it has no obvious political benefit — confirms his true beliefs.

This does not bode well for Biden’s dreams of returning to the days of Senate bipartisanship

Some Republican senators have publicly acknowledged Democrat Joe Biden is the president-elect. Others have moved straight to criticizing his early Cabinet picks, even as President Trump continues to dispute the outcome of the Nov. 3 election.


But Senate Majority Leader Mitch McConnell (R-Ky.), three weeks after Election Day, has still not said much of anything at all.


McConnell’s ongoing silence, even as the Trump administration moves to allow Biden to start his transition, leaves a question mark over what could be the most important Washington relationship of the next two years — between an incoming president who promised to tackle the nation’s most pressing concerns and the win-at-all-costs Capitol Hill operator who may well serve as his legislative gatekeeper.


The two men — Senate colleagues for 24 years and sparring partners in several high-stakes negotiations during Biden’s time as vice president — still have not spoken since the election, according to a GOP aide who spoke on the condition of anonymity to talk frankly.

the economy
the economy
Jobless Claims Rise Again As Virus Surges
A sign that economic recovery may be stalling out as the pandemic grips America again.

Trump was reportedly dissuaded in recent weeks from striking Iran, but Israel still wants to be prepared

The Israel Defense Forces have in recent weeks been instructed to prepare for the possibility that the U.S. will conduct a military strike against Iran before President Trump leaves office, senior Israeli officials tell me.


… The Israeli government instructed the IDF to undertake the preparations not because of any intelligence or assessment that Trump will order such a strike, but because senior Israeli officials anticipate “a very sensitive period” ahead of Biden’s inauguration on Jan. 20.

third wave
third wave
‘We Saw it Coming. We Should Have Been Better at This.’
A Montana doctor treated coronavirus patients in New York, but she never thought the horrors would follow her 2,000 miles home.
fox news
fox news
Fox News Settles With Seth Rich’s Family After Promoting Conspiracy on His Death
The network settled with the slain DNC staffer’s parents over three years after suggesting his involvement in the 2016 hack of the Democratic Party.
coronavirus
coronavirus
U.S. Surpasses 2,000 COVID-19 Deaths in a Day for First Time Since May
Tuesday also marked three straight weeks of new daily cases above 100,000 and 15 straight days of new hospitalization highs.
1927-2020
1927-2020
David Dinkins Deserved Better
His mayoralty was not the overt failure it once seemed.
new york
new york
New York Democrats Gain Veto-Proof Majority in State Senate
The supermajority gives lawmakers enhanced negotiating power over Governor Cuomo and could set pandemic-related eviction protections in motion.
coronavirus vaccine
coronavirus vaccine
CDC Director: COVID Vaccine May Be Ready for Nursing-Home Residents in December
Robert Redfield said a vaccine may be distributed to nursing-home residents, then health-care providers, as early as mid-December.

The wheels are in motion

CONFIRMED: Biden transition is now in talks with all federal agencies, transition official tells @Forbes
@AndrewSolender
politics
politics
We’ll Soon Be Rid of Steve King — But Not His Demagoguery
The outgoing Republican congressman’s questioning of Kamala Harris’s ancestry shows his racist impulses have not been blunted — nor have his party’s.

But what about alienating our allies for no good reason?

USUN nominee Linda Thomas-Greenfield: “America is back. Multilateralism is back. Diplomacy is back”
@jeneps

Wall Street does not exactly seem upset about Biden’s victory

NEW YORK (AP) — Dow Jones Industrial Average trades above 30,000 points as stocks continue to climb on vaccine hopes, Biden transition.
@JonLemire

Another state down

HARRISBURG, Pa. (AP) — Pennsylvania governor: Democrat Joe Biden certified as winner of presidential election in state.
@JonLemire
the national interest
the national interest
Trump: I’ll Keep Charging Fraud Until Randy Quaid Is Satisfied
The issue isn’t fraud; it’s the perception of fraud now.

That’s a lot of people

BREAKING: Biden/Harris just became the first presidential ticket in history to surpass 80 million votes…

Biden 80,033,996 (51.0%)
Trump 73,878,907 (47.1%)

Prior to 2020, no ticket had ever hit 70 million.
@Redistrict
streeteries
streeteries
What Happens If Outdoor Dining Pauses in New York?
People need spaces to gather. Do we want to see what happens when those go away?
All
education
education
The Cost of Closing NYC’s Public Schools
Talking through the effects of an irrational decision.
crime
crime
What Happened to Quawan Charles?
A Black teen was found dead in a field. His family says he looked “like he’d been tortured.” Law enforcement still hasn’t ruled his death a homicide.

Here’s what’s next for Jaime Harrison, who lost his Senate campaign despite raising a staggering $130 million

On the heels of his record-breaking but unsuccessful bid to oust U.S. Sen. Lindsey Graham, South Carolina’s Jaime Harrison on Tuesday launched a political action committee, utilizing his newly minted status as a fundraising powerhouse to try to provide a sustained boost to other Democrats that he hopes can help flip more areas from red to blue.


Dirt Road PAC will focus on long term investments in state-level Democratic candidates and parties like intensive voter registration efforts in areas that have been seen by Democrats as harder to win, Harrison told The Associated Press ahead of the official launch.


“The days of just swooping in every few years and putting up a candidate, having no grassroots infrastructure and thinking that we’re going to win - that’s just not working,” Harrison told the AP on Monday. “I’m going to focus on investing and doing it in a much deeper manner, and going into areas where people have just been forgotten, or been given up on.”

games
games
Sports Are Making COVID Look Like No Big Deal
Coaches and athletes’ casual approach to the virus doesn’t exactly set a great example for the rest of the country.
2021
2021
What Organized Labor Wants From Biden
After years of fiery activism, unions won’t be satisfied with returning to the pre-Trump status quo.
parenting
parenting
The Children of Quarantine
What does a year of isolation and anxiety do to a developing brain?
new york city
new york city
David Dinkins, New York’s First and Only Black Mayor, Has Died at 93
Dinkins, who served as mayor from 1989 to 1993, was reportedly found at home in Lenox Hill on Monday and appears to have died from natural causes.
coronavirus
coronavirus
U.S. COVID Hospitalizations Break Record for 14th Day in a Row
The surge in hospitalizations is just one indicator of the massive third wave in the U.S., where there have been 3 million new cases this month alone.
biden administration
biden administration
Joe Biden’s Cabinet Begins to Take Shape
A running list of Biden’s announcements and reported picks as the incoming administration begins to name its top personnel.
presidential transition
presidential transition
Biden Transition Begins After Trump Appointee Calls Him ‘Apparent Winner’
While Trump still hasn’t conceded, he indicated support for a federal agency’s decision to start the process of turning over the government.
Job Agent of Destruction Consequences Why we love him Albert Hsu

Manager, Anchor Point Capital hedge fund Jealousy: This past February Hsu posed as his ex-mistress on a bondage Website, requesting to be kidnapped and raped as part of a sexual fantasy. At least two years of jail time. Because the good guy was the one who answered the online ad and asked the mistress to confirm the rape fantasy. Make him look like Prince Charming and you clearly fucked up big. Christopher Carter

Broker for Maxim Investments Groups Wrath: During spin class this August, Chris threw a guy (and his bike) into a wall for grunting during his workout. Lawsuit; probably now working out in his basement. There are about ten times a day in this city where we feel like throwing someone — and whatever they happen to be sitting on — into a wall. Seth Tobias

Founder and manager, Circle T Partners hedge fund Death: Was found floating in his pool over Labor Day weekend. Until details are sorted out, purgatory. Police weren’t calling it a suspicious death until Tobias’s personal assistant came forward with “proof” that Tobias was murdered by his wife. And that he secretly dated a male exotic dancer named “Tiger.” Timothy Sykes

Founder of now defunct Cilantro Fund Management Overexposure: Sykes tirelessly promoted himself as his hedge fund hemorrhaged money. The editor in chief of Trader Monthly disinvited Sykes from a party in September for making a mockery of the profession. (But then Sykes scored the cover of Young Money.) He transformed an utterly trivial party spat resulting from his own ill-gotten publicity into … a mini media firestorm! Richard “Chip” Bierbaum

Former trader for Calyon, a financing and investment- banking company Recklessness: His risky unauthorized trading allegedly caused his company $353 million in losses this September. He got canned. This loose cannon refuses to play by the rules, profit-making or not. He’s probably roaming the streets right now, a rogue trader, still losing absurd amounts of money. Andrew Z. Tong

Trader for Steve Cohen’s hedge fund, SAC Complaisance: It recently came to light that, around July 2005, he began taking estrogen pills at the behest of his boss. “Turned gay”: Began wearing dresses, slept with said boss. His lawsuit came before the New York State Supreme Court this May; it’s in arbitration now. What was that conversation like? Boss: “I’m going to need you to take a close look at the Templeton account, aaannnd why don’t you also start taking these estrogen pills about four times a day. Thanks, man.” John Fitzgerald

Mergers and Acquisitions for Limited Brands Vanity: Fitzgerald didn’t commit a crime, because being a huge tool is still legal in Georgia. Key quote from his self-aggrandizing Website: “I used my 98th percentile score on the SAT & ACT to acquire a Mensa membership then combined that with my 97th percentile G.P.A. to go on to a five star collegiate program.” His good name has recently been raked through the coals on sites like DealBreaker and Gawker — but we don’t think it’ll affect him. He’s the real-life Dwight Schrute — if Dwight were a frat brother: His Website’s “Skills” section boasts that he once got a hole-in-one and has participated in — but did not win — a state archery match.