• 21 Oct 2009 at 9:02 AM

Galleon Closing Up Shop

By

Screen shot 2009-10-21 at 9.21.02 AM.png
Raj Rajaratnam maintains allegations are baseless. In related news, who wants to buy a hedge fund?


From the Journal:

Wrote Mr. Rajaratnam, “I have decided that it is now in the best interest of our investors and employees to conduct an orderly wind down of Galleon’s funds while we explore various alternatives for our business.”
According to a person familiar with Galleon, one of those alternatives is selling Galleon to another firm. The person said that some parties have expressed interest in buying Galleon.
The person familiar said that Galleon’s redemption process will remain unchanged. Investors will not get their money back until Jan. 1, 2010, unless there’s government intervention.

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Comments (36)

  1. 1
    Posted by guest | October 21, 2009 at 9:13 AM

    There are no mulligans in Sri Lanka

  2. 2
    Posted by guest | October 21, 2009 at 9:15 AM

    Guess tomorrow’s WSJ headline:
    Galleon Founders on Rocks?
    Galleon Holed Below Waterline?
    Investors Abandon Ship?

  3. 3
    Posted by guest | October 21, 2009 at 9:18 AM

    WTF, I just signed up here – https://www.galleongrp.com/GALLEON/WEB/me.get?web.websections.show&MS1139_927
    I need that edge!

  4. 4
    Posted by guest | October 21, 2009 at 9:19 AM

    We remain highly liquid = everything is fucked

  5. 5
    Posted by guest | October 21, 2009 at 9:21 AM

    Tomorrow’s headline:
    Galleon in the hole

  6. 6
    Posted by Anal_yst | October 21, 2009 at 9:25 AM

    god his Klump impression is go regal

  7. 7
    Posted by guest | October 21, 2009 at 9:28 AM

    “Fingered Fund Chief Cannot Plug Own Hole”

  8. 8
    Posted by guest | October 21, 2009 at 9:28 AM

    Danielle Does Galleon
    Btw she seems to me the kind of girl who’ll do just fine in prison. Raj I’m not so sure.

  9. 9
    Posted by guest | October 21, 2009 at 9:29 AM

    Tomorrow’s headline:
    Galleon Pulls Out
    -thanks, i’m here all day

  10. 10
    Posted by guest | October 21, 2009 at 9:29 AM

    Look at that chin. He is like a fat pelican.

  11. 11
    Posted by guest | October 21, 2009 at 9:29 AM

    9:25 the F-bomb gets dropped on the NYSE floor live with Mark Haines. “What the fuck, Gordon?”

  12. 12
    Posted by Tax Chick | October 21, 2009 at 9:29 AM

    Tomorrow’s headline:
    King’s ransome went down with Galleon

  13. 13
    Posted by guest | October 21, 2009 at 9:32 AM

    Tomorrow’s headline: Raj Rajnarjanarja is a former Al-Quada operative

  14. 14
    Posted by Anonymous | October 21, 2009 at 9:38 AM

    Raj lost a fund by LOSING money for it. Nice one.
    http://abnormally-distributed.blogspot.com/

  15. 15
    Posted by guest | October 21, 2009 at 9:39 AM

    @2
    Investors to journey to Davey Jones’ Locker to retrieve funds from Galleon?

  16. 16
    Posted by guest | October 21, 2009 at 9:40 AM

    Galleon walks the plank
    I.B.Mud

  17. 17
    Posted by guest | October 21, 2009 at 9:47 AM

    Galleon Goes Down on Chiesi Snatch of Insider Info

  18. 18
    Posted by guest | October 21, 2009 at 9:49 AM

    Is that the Nutty Professor?
    http://artfiles.art.com/images/-/Eddie-Murphy—The-Nutty-Professor-Photograph-C10042094.jpeg

  19. 19
    Posted by guest | October 21, 2009 at 9:50 AM

    I smell reality show – Raj moves to Murray Hill?

  20. 20
    Posted by merkin capital partners | October 21, 2009 at 9:53 AM

    Haines just said that Mad Max is not on because she is stuck in traffic. Outstanding.

  21. 21
    Posted by guest | October 21, 2009 at 9:55 AM

    Madoff, Stanford, Rajaratnam… anyone know how to play the drums?
    Ken Lay’s Ghost

  22. 22
    Posted by guest | October 21, 2009 at 9:59 AM

    This might be a bit off topic but, cocaine is a hell of a drug

  23. 23
    Posted by guest | October 21, 2009 at 10:00 AM

    @22- It is, and that is always relevant here

  24. 24
    Posted by guest | October 21, 2009 at 10:02 AM

    @ 18
    see 6
    tard.

  25. 25
    Posted by Joe Mac | October 21, 2009 at 10:04 AM

    Melissa Lee: step away from the buffet table please. You could end up on the MB highway.

  26. 26
    Posted by guest | October 21, 2009 at 10:11 AM

    Is it only me or is meredith whitney a summer in florida and a box of twinkies away from being this guy’s twin?

  27. 27
    Posted by guest | October 21, 2009 at 10:14 AM

    @7 & 17, you’re good.

  28. 28
    Posted by guest | October 21, 2009 at 10:20 AM

    What I want to know is, hot sauce / white sauce?

  29. 29
    Posted by guest | October 21, 2009 at 10:37 AM

    That’s some impressive neck fat, Larry Summers quality neck fat.

  30. 30
    Posted by oldoiltrader | October 21, 2009 at 10:56 AM

    So it looks like Dealbreaker was right when they reported (Monday) Galleon partner’s quote about the firm is likely to wind down this week.
    Once again great reporting by Buhl and Dealbreaker.

  31. 31
    Posted by guest | October 21, 2009 at 11:21 AM

    Trish Regan’s face is getting fat enough to start to challenge this guy. Women out there: getting pregnant makes your abdomen big, but that’s no excuse to eat like a pig and make your face and ass huge too.

  32. 32
    Posted by NegativeConvexity | October 21, 2009 at 11:29 AM

    I picture this bloke’s unit as a darker version of Madoff’s microscopic hor d’oeurves sausage weiner.
    Moreover, his ball sack is one of those that contain no testicles, just a shrunken little flap of elbow skin..

  33. 33
    Posted by guest | October 21, 2009 at 12:25 PM

    Too fat to last.

  34. 34
    Posted by guest | October 21, 2009 at 12:31 PM

    San Raj, yup.

  35. 35
    Posted by guest | October 21, 2009 at 12:43 PM

    We remain highly liquid = flowing from every orifice.

  36. 36
    Posted by guest | October 21, 2009 at 1:58 PM

    Gallons of highly liquid fat flush down the Galleon hole.

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