This year the bonuses will be distributed in blood diamonds: I love it when satire becomes reality. Weeks ago the New Yorker published a mock internal letter from Lloyd Blankfein to Goldman Sachs employees, asking them to cut down on conspicuous consumption in light of the firms egregious bonuses. This week Blankfein does just that, according to the New York Post.
At It Again: That eternal thorn in private equity’s side, Andy Stern, has filed a big private equity diss in the Wall Street Journal’s op-ed pages, focusing on bank investments.(WSJ)
They’re Already Longer Than Most: “Fundraising cycles for large private equity houses are likely to lengthen as the slow pace of investment leaves many with unspent capital from previous funds, said the head of HarbourVest’s fund of funds business in Europe.” (Reuters)
Pundit War: Its blogger versus talking head. Charlie Gasparino of CNBC says Felix Salmon (of Reuters) has a “bizarre, on-again, off-again obsession” with him. Appalling that Salmon can’t even be consistently obsessed with a CNBC anchor. (Business Insider)
One Step Closer: KKR-PO is moving closer to reality. Today KPE received shareholder support to go through with the deal. (Reuters)
#*()(%@&$^%$)@: Apparently on Friday Tim Geithner blasted U.S. regulators with an “expletive-laced critique” to tell them that “enough is enough” with regards to financial regulation reform roadblocks. (WSJ)
Speaking of Financial Regulations: Even without the office of the thrift, Sen. Chris Dodd thinks three is still a crowd when it comes to the FDIC, Fed, and OCC. Sheila Bair is more pragmatic about it. (Dealbook)
Still on Regulations: One more firm has submitted comments on the proposed rules for PE investments in banking-restructuring advisory firm Alvarez & Marsal. Read the full comment at (Dealbook).
Unemployed Banker? Try applying with Barclays-they’re hiring 1,000 new employees. But good luck if you’re one of the 3,000 that the firm previously laid off… (Bloomberg)
Don’t Miss Out: Investors with cash are starting to hunt for bargains in the distressed economies of Central and Eastern Europe. (BW)