Cohen

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H. Rodgin Cohen's (Failed?) Quest To Backstop Every Bank... Ever (And Usurp Geithner's Throne)





Over the past two weeks many banks issued press releases and opened up the PR spigot to indicate just how stable they all are now that a few have managed to pay down their TARP commitments. This of course, is nothing but a complete farce, and simply yet another chapter in the "consumer confidence" game played by the administration and its financial underlings. In order to see just how much the banking system depends on the continued unlimited wallet of taxpayers and Geithner's printing presses, and how much certain law firms continue to depend on the somewhat less limited wallet of Wall Street, I present an October 31, 2008 letter recently obtained by Zero Hedge, in which Sullivan & Cromwell, Wall Street's #2 favorite law firm (or is that #1: I am sure Wachtell Lipton would have a few choice words with regard to that particular league table rating, although it may be hard pressed to match S&C's $241,975 in donations to the Democratic National Convention), goes to town to make sure that its well-deserving clients including Bank of America, Bank of New York Mellon, Citigroup, Goldman Sachs, JP Morgan Chase, Merrill Lynch, Morgan Stanley, State Street and Wells Fargo get to not only have the taxpayers' cake (in perpetuity), but eat more and more of it each day.

 
Tyler Durden's picture

Cohen & Steers Funds Merge





Two odd press releases after the close today, both pertaining to our favorite REIT focused fund. According to the first, Cohen & Steers Advantage Income Realty Fund, Inc. ("RLF"), Cohen & Steers Worldwide Realty Income Fund, Inc. ("RWF"), Cohen and Steers Premium Income Realty Fund, Inc. ("RPF") and Cohen & Steers Quality Income Realty Fund, Inc. ("RQI") have all merged with and into RQI. It apeears that even despite the magical ramp of all REITs this quarter, those pesky "size matters" issues have reared their ugly heads for the 4 various closed-end funds.

 
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Cohen & Steers Heart Commercial Real Estate





An amusing article in the WSJ today discusses the newfound sweeping hope across the REIT space. The hope, by the way, has to do with the recent stock offerings by SPG, AMB and KIM (the last one Zero Hedge had quite a few things to say about). WSJ provides a good assessment of the situation:

Vacancies are still zooming up and property values are still crashing down.

 
Tyler Durden's picture

Cohen & Steers Heart Commercial Real Estate





An amusing article in the WSJ today discusses the newfound sweeping hope across the REIT space. The hope, by the way, has to do with the recent stock offerings by SPG, AMB and KIM (the last one Zero Hedge had quite a few things to say about). WSJ provides a good assessment of the situation:

Vacancies are still zooming up and property values are still crashing down.

 
Tyler Durden's picture

Steve Cohen Safe For Time Being: Kogan Massive Outhouse Plans On Hold





The downsized plans for Valery Kogan's anex at 18 Simmons Lane, which were presented at last night's Greenwich, CT council meeting, were put on hold again (the last time Kogan tried to create the biggest septic nightmare in Greenwich, he was voted down 3-2). The original pro forma house at 54,000 sq. feet and 26 toilets would have been the largest single-family home built in Greenwich since new housing plans started being reviewed in 2001. The new proposal which called for only 38,000 sq.
 
Tyler Durden's picture

Steve Cohen Safe For Time Being: Kogan Massive Outhouse Plans On Hold





The downsized plans for Valery Kogan's anex at 18 Simmons Lane, which were presented at last night's Greenwich, CT council meeting, were put on hold again (the last time Kogan tried to create the biggest septic nightmare in Greenwich, he was voted down 3-2). The original pro forma house at 54,000 sq. feet and 26 toilets would have been the largest single-family home built in Greenwich since new housing plans started being reviewed in 2001. The new proposal which called for only 38,000 sq.
 
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