Bloomberg: Crane Collapse ‘Intolerable’The mayor gives developers and union leaders a piece of his mind at a press conference on this morning’s crane collapse, students and colleagues of a popular Wall Street figure are flabbergasted by the SEC charges filed against him, and CNN’s Jessica Yellin gets into a war of words about the war.
it just happened
Breaking: Bonnie Fuller Steps Down at AMIThat’s right: American Media Inc. executive vice-president and chief editorial director Bonnie Fuller will resign from both of her positions as of Wednesday. But she’s not giving up ‘Star,’ Goddamn it!
Bloomberg’s Baby Problems: They Just Keep Popping OutFINANCE
• Another woman joined the federal discrimination lawsuit against Bloomberg LP. After her first child in 2005, her pay fell and her colleagues turned into sharks. One supervisor even asked, “What is this, your third baby?” [NYT]
• More of the same on the Street: Bank of America wrote down $3 billion, Bear Stearns $1.2 billion, and British bank HSBC took the cake with $3.4 billion, largely due to U.S. mortgage weaknesses. Meanwhile, Goldman CEO Lloyd Blankfein laughed in everyone’s face, predicting no more write-downs (not that they lost much in the first place) at the Teflon bank. [NYP, NYT, NYT, DealBreaker]
• Is the credit crunch just like Enron all over again? So says Bethany McLean, the reporter who first broke Ken Lay’s fraud wide open. [Fortune]
Breaking: Banks, Bankers Make a Lot of MoneyToday’s big news in the city’s big businesses.
• J.P. Morgan had a very good fourth quarter, but is $4.53 billion enough to top Citigroup? Answer on Friday. [DealBreaker]
• Projected versus actual 2006 Wall Street bonuses. Either way, they were big. [BankersBall]
• Taking a cue from its bonus-giddy brokers, Bear Stearns looks to invest in some Manhattan real estate. [NYO via DealBook/NYT]