*Well it didn’t take very long for Dealbook to find a connection between Tim Geithner’s future employer and TARP:
Warburg Pincus has also taken stakes in banks aided by taxpayer dollars through TARP. That includes Webster Financial, a New England lender in which the firm reaped a return of about 35 percent. Another was Sterling Financial, a Washington State institution in which the buyout firm invested $139 million; it was sold two months ago to another bank, Umpqua, for $2 billion.
*In a much more consequential Wall Street story, JP Morgan’s woes continue. Its executives agreed to a $4.5 billion settlement with 21 institutional investors. The investors—which include Goldman Sachs, for crying out loud—claimed that the banking behemoth, between 2005 and 2008, sold them mortgage bond trusts without doing proper oversight.
*The Obama administration’s model intervention is looking less successful these days. Yesterday, in Tripoli, at least 43 people were killed and more than 450 people were wounded when a militia from Misrata opened fire on protesters demonstrating against its presence in the capital. Today, one person was killed and more were wounded in another round of violence in Tripoli.
*Fans are either going to be delighted or infuriated by this story, with emotions largely dependent on their cable package: America’s favourite Brit John Oliver is leaving The Daily Show to launch his own weekly HBO talk show.
Via the BBC, of course:
“I want to thank Comedy Central, and everyone at The Daily Show for the best seven and a half years of my life,” said Oliver, who joined The Daily Show as a writer in 2006.
“But most of all, I’d like to thank Jon Stewart. He taught me everything I know. In fact, if I fail in the future, it’s entirely his fault.”
That’s it from me. See you tomorrow.
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