• Marc To Market
    12/20/2014 - 12:21
    When the dollar falls, we are told it is logical.  The empire is crashing and burning.  When the dollar rises, the markets, we are told are manipulated.    Well, the dollar is...

Steve Rattner

Tyler Durden's picture

Norway Sovereign Wealth Fund Purges All Insolvent Eurozone Debt Holdings, US Hedge Funds Buying





One month later the purge is over: "Norway’s sovereign wealth fund sold all its Irish and Portuguese government bonds after rejecting the Greek debt swap and warned that Europe faces considerable challenges." Wait, what's that? The Eurozone's political strongarming (think Steve Rattner and GM) was unable to force the world's most powerful sovereign wealth fund into agreeing to what was essentially extortion when bank after bank noted how delighted they are to be bent over and take an 80% writedown on their Greek holdings. Stunning. But at least we now know who will be suing Greece shortly in an attempt to recoup par value of their strong law bonds: grab the popcorn - Norway vs Greece will be quite a spectacle. As for their dump of Irish and Portuguese bonds, no surprise there: fool me once (in perpetuity) shame on me, fool me twice, shame on Dan Loeb... who was buying everything Norway was selling. We wonder who ends up right.

 
Tyler Durden's picture

People's Hero Steve Rattner Receives Bad News: "SEC Files Civil Lawsuit Against Rattner In Pension Fund Kickback Case"





WSJ headline "SEC Files Civil Lawsuit Against Rattner In Pension Fund Kickback Case" We are shocked someone is punished for (alleged) criminal activity. Shocked.

 
Tyler Durden's picture

Steve Rattner Can Relate To The Middle Class





The Auto Task Force Car Czar formerly known as Steve Rattner has reported an overall net worth of between $188 million and $608 million. Obviously the former NYT reporter can relate to the UAW's loss of its healthcare benefits. Among his assets:

- Between $500,000 and $1 million in Goldman stock.
- Less than $1,001 apiece in Bear Stearns Cos., Citigroup Inc., and Lehman Brothers Holdings Inc.

 
Tyler Durden's picture

Steve Rattner Can Relate To The Middle Class





The Auto Task Force Car Czar formerly known as Steve Rattner has reported an overall net worth of between $188 million and $608 million. Obviously the former NYT reporter can relate to the UAW's loss of its healthcare benefits. Among his assets:

- Between $500,000 and $1 million in Goldman stock.
- Less than $1,001 apiece in Bear Stearns Cos., Citigroup Inc., and Lehman Brothers Holdings Inc.

 
Tyler Durden's picture

Attention Steve Rattner: Please Check This Out





As the clock ticks on labor and creditor negotiations for the Detroit 3 (it seems like only yesterday that people called them the Big 3) ahead of the March 31 deadline for the thumbs up/down decision, it might be prudent to look at this. All over the world millions of brand new unsold cars are piling up in vacant lots.

 
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