2) Epicurean Dealmaker - "Not Safe for Work"

Ed: "Like: did Al Gore really invent the internet? Does the "Prince of Wall Street" still have a job offer in Financial Sponsors at a "bulge bracket" bank? And, is it true that Equity Private and Dan Loeb plan to use a mixture of shredded 10-Qs and portfolio company business plans as confetti at their upcoming wedding scheduled for a secret location off the Dalmatian Coast? We may never know the answers, Dear Readers, but certain questions are worth asking anyway, no?"

Answer: ED, You better f**ckin believe that The Prince still has a job.

The Prince would also love to see more banter between EP and ED, but he’s not sure if this is going to get that going.

3) Information Arbitrage - "The KKR/SUNW Deal Telegraphed Today’s PE Environment"

Much better argument and analysis than the Prince put forward about private equity’s style drift.  Here Ehrenberg mainly focuses on the perverse decision making that comes about, like PE shops taking public equity stakes, PIPE stakes, or convertible stakes in public companies, when funds are too large and financing for LBOs is absent.

4) Naked Capitalism - "Hubris, Denial, and the Financial Services Culture"

Takeaways with a smile from the Milken Conference.

5) Dollar may have fallen too far relative to the Euro, according to the futures market.

"U.S. Treasury Secretary Henry Paulson plans on Monday to call for sweeping structural changes in the way the government monitors financial markets, capping a broad review aimed at revamping a system of regulatory oversight built piecemeal since the Civil War." - The Prince can’t help but say I told you so.

The Executive Summary of Paulson’s report - The plan looks to merge some agencies and broaden the authority of the Fed.

Interview with Paulson by the WSJ Today - Mortgage origination commission?  Really?

Valuation, Frayed Nerves, and Liquidity - Information Arbitrage - The Prince agrees "And at a time when distressed, illiquid assets are being met by hostile capital PE Hubmarkets, pretty much everything should be marked-to-market if logical and rational accounting principles hold."

Scatology - Epicurean Dealmaker - "From the perspective of Monty Python’s cart driver, no-one has come off looking like a King in this scenario." Classic.

More On "The Lost Decade" - A Dash of Insight - A comprehensive survey of response to the WSJ’s "The Lost Decade" for stocks article.

Counterparty of Last Resort? - Interfluidity - Of course the Fed is now the counterparty of last resort.

Clear Channel: The BCE Guinea Pig? - PE Hub - Seems likely to the Prince.

Weekly Q&A - Mergers and Inquisitions - "Hedging your Bear Stearns Summer Offer." Indeed.

Carl Icahn Gives A Lesson on How to Deal with Texas Lawyer Joe Jamail: It Helps to Pour Some Vodka into Him - DealBreaker - A Texan after The Prince’s own heart.

"Fortress Bails Out Jacko" - Dealbreaker - Michael Jackson never fails to entertain

"Housekeeping" - Going Private - Reflections on GP’s 2006 and 2007 work

"CDS Clearing" & "Back to Basics: First to Default Swap" - Alea - CDS clearing is a huge problem on the street even post ISDA.

"Weekly Readers Q&A" - Mergers and Inquisitions - Nonprofit to Private Equity, really?

"Blackstone and the NYPL’s $100 million gift…" - Footnoted

"Submitted Without Comment" - Mortgage News Clips - LolCat Reset Mortgage

"Krugman: Fed is Running Out of Tricks" - Naked Capitalism - Agreed

"Hopefully Cayne Paid Cash for His Apartment" - Dealscape - Indeed

"California Bay Area Homes: Spectacularly Low Sales Counts" - Calculated Risk - So much for the days of 12 bids all 20% over the asking price in the Bay

"Crash" - Alea

"Through the Roof" - The Prince

A Prince Turned Pauper - WSJ - Sympathizing with another member of the aristocracy.  The Prince does love those petro dollars.

Surveying the Best Deals - The Deal - The attitudes and perspectives of top executives, investors, advisers and outside consultants in the emerging-technology industry during 2007.

Wall Street Compensation: Issues, Structure and Accountability - Information Arbitrage - Some more interesting ideas and commentary on fixing compensation incentives on Wall Street.

# of Homes Sold http://bigpicture.typepad.com/comments/2008/03/where-foreclosu.htm">Where foreclosures > # of Homes Sold - The Big Pictures - Falling home sales and rising foreclosures.  Can it get worse in housing?

Schwarzman’s School Ties - DealBook - Congratulating Schwarzman on his gift to the Inner-City Scholarship Fund, a program run by the Archdiocese of New York.  He might have some future competition in the world of PE from Victor Anoiske. “I used to do homework and got a 90, but not much above that,” he told Victor Anoiske, a quiet, reed-thin fourth grader at the Sacred Heart School in the Bronx. “But I couldn’t get 96’s like you did.” 

Hedge Fund Implosion: Wall Street Blamed - Alea Blog - Will Peloton sink the ABX or did it get killed by it?  Who is to blame.  Following the links Alea has put up.

Installment of Diary of A Fake Goldman Trader: Becoming Your Dream - Dealbreaker - Nothing more can be said about this.

Walking Away and Reading Delinquency Reports - Calculated Risk - Gives some interesting insight on what we should infer from delinquency reports and what we shouldn’t infer.

Leveraged Losses Lessons from the Mortgage Meltdown - Calculated Risk - Excerpt from draft paper by David Greenlaw (Morgan Stanley), Jan Hatzius (Goldman Sachs), Anil Kashyap (Chicago GSB) and Hyun Shin (Princeton) in its entirety here (Leveraged Losses: Lessons from the Mortgage Market Meltdown).

Warren Buffet on Efficient Markets - Alea Blog - Great commentary excerpts from Warren Buffet’s letter to shareholders.  Also see the New York Times article, "Buffet’s State of the World: There’s Folly in Wonderland".

The Path of Co-Investor Hatred - Going Private - Oh, the headache and then the hangover from imbibing with co-investors.

Networking Your Way into Investment Banking - Mergers and Inquisitions - Advice for non-targets that does work, although, good luck if you don’t already have a full-time or summer analyst offer by now.