Your daily dose of financial news The Brief – 3.3.16

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The past 2 days saw an incredible and tragic turn of events for former Chesapeake Energy CEO Aubrey McClendon, part owner of the OK Thunder and a winery in Bordeaux and “face of the nation’s natural gas boom,” who on Tuesday was indicted on federal bid-rigging charges and who died yesterday after his car hit a bridge at high speed – NYTimes and WSJ

Fujifilm and Canon are among the suitors with the best shot for claiming Toshiba’s medical-device business in an anticipated $6 billion deal set to close in the coming weeks – WSJ

Sporting goods retailer Sports Authority has joined “the pile of losers from the precrisis leveraged buyout boom” after its bankruptcy filing yesterday, unable to recover from its time “languish[ing] in the portfolios of private equity firms” while the markets slowly climbed their way back after 2008 – NYTimes

The Journal on where the biggest US banks sit in the midst of an epic oil bust – WSJ

Speaking at an ABS conference this week, SEC Commissioner Michael Piwowar argued that the postcrisis regulations governing securitization offerings “have caused issuers to shy away from public markets in recent years,” pointing in particular to 2014’s risk retention rules (requiring issuers to hold a 5% skin-in-the-game interest) as a troubling “one-size-fits-all approach” – Law360

Ladies and gentlemen, the staggering power of Oprah (because 1 billion free media impressions is no joke) – Bloomberg

The Dealbook returns to new Minneapolis Fed chief Neel Kashkari’s recent call to fix the still-present “too big to fail” problem as a way of exploring whether the “eye-numbingly complex” regulatory architecture passed in the wake of the great recession has actually done the trick – NYTimes

The Financial Stability Oversight Counsel said yesterday that despite the “emphatic protests” (and ongoing legal dispute), it’s sticking with its SIFI label for MetLife – Law360

My own particular brand of March Madness kicked off yesterday, with Class A action getting started in the fabled Minnesota State High School Hockey Tournament. If you thought high school football in Texas was something, you gotta get a load of thisYouTube

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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