Hooker-loving ex-Gov. Eliot Spitzer knocked the socks off the students at his lecture Tuesday at City College.

Students attending his law and public policy course laughed and even applauded as Spitzer delivered a lively talk that cited big thinkers ranging from philosopher John Stuart Mill to Bruce Springsteen.

Ashley Dupre, the call girl who brought Spitzer down, was not in the syllabus, but the self-proclaimed “Sheriff of Wall Street” was happy to recall how he went after the fat cats at Goldman Sachs.

Tags: goldman, law and public policy, sachs, wall street

New York Times Blogs – A closely watched report by Goldman Sachs found that hedge funds made an outsize bet on financial stocks in the second quarter, The Wall Street Journal reported.

The Goldman “Hedge Fund Trend Monitor” said hedge funds increased their ownership in financial stocks by 55 percent to $70 billion, compared with the previous quarter.

Read Complete Article

Tags: dealbook, financial stocks, goldman, goldman-sachs, hedge fund, hedge funds, New York, new york times, second-quarter, wall street

Bloomberg – A Biovail Corp. lawsuit against SAC Capital Management LLC was thrown out by a New Jersey judge for failing to state a claim.

Biovail accused hedge funds including SAC and Sigma Capital Management of conspiring in a short-selling scheme to drive down the drugmaker’s share price. The Mississauga, Ontario-based company also claimed Gradient Analytics Inc. helped the hedge funds by writing false reports about Biovail.

“Biovail fails to elicit any specific damages, and instead relies upon a general diminution theory,” New Jersey Superior Court Judge Donald Goldman wrote in a 51-page ruling released today. “Biovail’s claims must be dismissed.”

Read Complete Article

Tags: biovail corp, capital-management-llc, damages, diminution, goldman, gradient analytics inc, hedge funds, mississauga ontario, new jersey superior court, rsquo, sac capital management, share price, sigma, superior court judge