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Best New Partners at Goldman: A Scouting Report

General Motors Shares Close up after IPO (CNBC via Reuters) GM shares closing up is good news: It means that investors lucky enough to get in on the allocation didn't just flip their shares in the open market en masse—only to be greeted by weak demand and falling prices. But don't pop the champagne corks just yet. As the article explains: "At $33 a share, the partial sale represents a loss of about $9 billion on taxpayers' original investment, assuming the extra shares go at the same price. " Right. There's that.

Ireland "Grudgingly Edging" Toward Accepting International Bailout (Wall Street Journal) "Patrick Honohan, the head of Ireland's central bank, said he expects the country will receive 'tens of billions' in international loans. 'It will be a large loan because the purpose…is to show Ireland has sufficient firepower to deal with any concerns of the market,' he said in a radio interview." The precise structure of the deal remains to be decided. And there are still concerns about billions of Euro in extra borrowing costs —on top of the cost of the original domestic bailout package. Additional information on the proposed arrangements are expected tomorrow.

Fed Muni Bailout a Possibility? Really?(CNBC) From CNBC's John Melloy: "California’s delay of a $10 billion municipal bond sale has only fueled existing chatter on trading floors that the Federal Reserve would take the extraordinary step of buying these securities just as it has with Treasuries. Chairman Ben Bernanke would pursue this unprecedented route, if he thought necessary, even after the vocal criticism he’s received for his second round of quantitative easing, they said." And you thought there was a backlash against quatitative easing? Just wait... Congress Vents Anger: Mortgage Lenders —and their Regulators—Called to House (Reuters)

"Lawmakers hauled the top U.S. mortgage lenders and their regulators to Capitol Hill on Thursday to chastise them for widespread flaws in foreclosure documents, but failed to extract any promises of fines or fresh loan modification programs." In other words, long on theater short on substance.

Decent End to the Day (Yahoo via AP) "Stocks are finishing with big gains thanks to stronger-than-expected economic data and hopes for an end to Ireland's debt crisis." But you already knew that. Also, "The Federal Reserve Bank of Philadelphia said factory orders rose in the Mid-Atlantic region." Not dismal. Not by the standards of some other days this week.

Senators Head for 'Greener' Pastures (Washington Examiner) The Washington Examiner handicaps where those leaving the Senate are most likely to cash in on their Beltway clout.

Best New Partners at Goldman: A Scouting Report (Business Insider) Business Insider takes a look at the best and brightest of Goldman Sachs' 2010 class of newly minted partners.

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