A plaque remaining from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem.

Above, a 1934 plaque from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem. Discarded as trash in 2006.

Recent entries:
“Better days are just around the corner. They are called Friday, Saturday and Sunday” (3/29)
“Nothing screws up your Friday like realizing it’s only Thursday” (3/29)
“Thursday—the most useless day of the week” (3/29)
Entry forthcoming—B.P. (3/29)
“New York leads all cities in the number of people around whom you shouldn’t make a sudden move” (3/29)
More new entries...

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Entry from November 14, 2009
Blind Pool

Entry in progress—B.P.

The Big Money
Word of the Week
“blind pools”

By Caitlin McDevitt
Posted Friday, November 13, 2009 - 2:05pm
The Wall Street Journal had a report this morning about former bank executives starting up “blind pools.” Like “dark pools,” which TBM explained recently, these things sound murky. How do “blind pools” work? Like this: Investors commit money to a certain fund. The people in charge of that fund then decide how to invest their money, often leaving investors in the dark about where it ends up. In this case, people are forming blind pools to buy up failed banks in FDIC-run auctions.

Posted by Barry Popik
New York CityBanking/Finance/Insurance • (0) Comments • Saturday, November 14, 2009 • Permalink