Let the Bear Blame Game BeginFINANCE
• Bear Stearns followed up yesterday’s Morgan Stanley announcement with its own $850 million loss, again the first quarterly deficit in the bank’s history. [DealBook/NYT]
• Is former Bear Stearns exec Ralph Cioffi, the guy behind the two Bear funds that imploded this summer, the main culprit in the subprime crisis? New reporting suggests his team set off the plague of dirty debt that cost Citi and other top banks billions. Oh, and Cioffi’s under investigation for pulling out a couple mil before anyone else got the chance. [Business Week]
• What a mensch: David Rubenstein, the former lawyer turned Citadel private-equity master, decided to keep his new copy of the Magna Carta on display at the National Archives. Rubenstein paid $21.3 million — chump change for a guy worth around $2.5 billion. [Law Blog/WSJ]
Howard Stern Is Quietly Gay-LovingMEDIA
• Howard Stern, good for the gays? A longtime lesbian listener calls Stern “one of the most pro-gay media personalities in the country.” [Gay.com]
• Murdoch finally gets his giant puffy hands on the Journal today at 10 a.m. The only question is just how much of the Bancroft family will try to show their noble intentions, however laughably inept, by registering a protest vote against the deal. [WSJ]
• A great new/old debate: Should Democrats go on Fox News? [Mixed Media/Portfolio, NYO]
Michael Jackson Is in New YorkDavid Chase is “heartbroken” that James Gandolfini, Edie Falco, et al didn’t win Emmy; Bill Maher isn’t sad he lost for the nineteenth time. Naomi Campbell told the Blacks in Fashion panel last week that she’s repeatedly been refused the cover of British Vogue, despite the fact that she’s posed eight times. Rosie O’Donnell declined to hawk her book on Oprah, instead opting for a Diane Sawyer interview. Brad Pitt and Angelia Jolie drop off and pick up Maddox at the Upper East Side’s Lycée Français themselves. Marilyn Manson didn’t carry girlfriend Rachel Evan Woods’s luggage as the two strode through JFK. Judith Giuliani went shopping for Manolos at Bergdorf Goodman. Michael Jackson is allegedly holed up in a fancy midtown hotel and has left only once to take part in a photo shoot.
Do You Hate David Chase?
We learn fascinating things about ourselves from the Post. Take this morning, for example. We were under the impression we’d liked the Sopranos finale. Quite a lot, actually. We knew different people had different feelings, but we don’t remember talking to anyone who hated it. But the Post informed us that we were wrong. “Sopranos fans,” today’s cover told us, are “out for blood.” Apparently we are furious. “‘Sopranos’ fans seething over the series’ finale flop called for one more person to be whacked yesterday — creator David Chase,” began the article. We had no idea. And so we took to the streets of Manhattan — well, to the stretch of Madison outside the office — to find out if people were actually so angry. Based on the evidence, we’re going to have to say that, no, they’re not. Questions and tallies after the jump.