It feels like it’s been forever (real time: two years) since the SAC Capital female hormone case, doesn’t it? For those of you who shamefully forget, back in the fall of 2007, a former employee of the hedge fund, Andrew Tong, alleged that his boss, portfolio manager Ping Jiang, had forced him to take female hormone pills as part of a slightly unorthodox philosophy of Jiang’s that male traders needed to be more like women (not as aggressive, etc) in order to maximize returns. Tong also alleged that he was instructed by Jiang to wear dresses, and as a result of the pills, could not perform sexually with his wife, with whom he was trying to have a baby. Unfortunately, at the time, those were all the details we got. The court filings were sealed, and in early 2008, Jiang was fired (but not because of the tranny stuff! Because he didn’t make as much money as the year before, natch). Today, by way of a story by the always awesome reporter Matt Goldstein, we find out a bit more. Goldstein’s article is about the “most feared man on Wall Street,” if you do stuff like insider trade. He’s the guy leading the Galleon investigation for the FBI, and obviously his name is BJ Kang, because how could it not be?
According to Goldstein, court documents and sources indicate that BJ may be “focusing” on SAC next (as previously mentioned, one of the cooperating witnesses in the Galleon case, Choo Beng Lee, worked at the fund for a couple of years). And this isn’t the first time The Beej and SAC have crossed paths. In 2006, BJ was part of the team looking into alleged accounting irregularities at Fairfax Financial, and in 2007, BJ was tasked with looking into “a previously undisclosed investigation involving alleged trading irregularities” at SAC, opened by federal prosecutors in Brooklyn (which was later closed). One person BJ interviewed while checking things out? The lovely Andrew Tong. And speaking of the lady of the hour– litigation on TrannyGate ended last year, and the previously sealed court documents have been opened. Shall we take a peek inside? If we’re up to get down with some slightly disturbing shit, yes! For instance, thongs:
And pet-names:
And the obligatory sodomy sessions, golden showers:
“You’ll have to give me a blow job if you want to make that trade.”
And an entirely different kind of dirty:
Andrew Tong Filing
I can’t think of anything funny to say.
-ping
@1 kind of awkward isn’t it?
holy fucking shit
I don’t see what the big deal is.
-SAC
oh my
Too Wong Foo, thanks For Everything, Stevie Cohen….
This cant be real.
bess, if the cards didn’t do it, this should. SAC’s going to rip you a new one.
This stuff happens all the time at AQR. It’s no big deal.
they turned that place into Rawhide North. Wow.
-mrp
honestly? holy shit.
Was that wrong? Should I have not done that? That was wrong, wasn’t it.
P. Jiang
The guy’s a limp-wrist for not quiting
I chocked then banged, Lee. see what I did there?
Yes, I know it was rong.
-ping
Having your boss tinkle in your mouth in the new killing it.
I see nothing wrong with this.
-J. Epstein
This story is crazy. But seriously, what possessed this guy to do all this stuff? He should have kicked the sh*t out of Jiang and quit. I’m confused.
“We continue to stand behind Mr. Jiang. Because we would never stand in front of him.”
I thought this kind of shit was what you pussy traders were into.
If you limp wrists had any talent or pedigree, you’d be bankers.
Lol @14.
FTW!!
Come on Bess, this warrants at least 4 (FOUR) blue and read flashy things.
- Cap’n Piccard
@18 Fuck you
Should R. Kelly be a PM at SAC then?
I am . . . speechless.
I AM NOT AN ANIMAL
-P. Jiang
@23 same. wow.
Oral sodomy. Is that when you stick your tongue in a dog’s ass?
Dennis Kneale
@21 looks like @18 hit a nerve… that must have cut you all the way to the bone.
-not @18
Choo Beng Lee?
No, I Lee Ben. Choo Beng Lee?
@ 18 – relax, Skip
Always knew everyone in finance was violently gay.
You are all gay.
What’s the big deal?
Buck Angel
Oral Sodomy: Butt Licking
http://www.quizlaw.com/blog/wtf_is_oral_sodomy.php
Are there any job openings?
-Jeff Chiang
That is some sick shit.
JJ
AT: “Uh, excuse me, Mr. Jiang?”
PJ: “What stupid girl?”
AT: “I’ve been reviewing the metrics on SGLP and think we should dump it now.”
PJ: “First, don’t ever come into my office without knocking ever again. Second, what kind of panties are you wearing right now?”
AT: “I, uh, um…”
PJ: “Your not wearing your panties are you? Are you?
AT: (Looks down shamefully)
PJ: “SGLP stays on our books.”
I stand floored.
Seriously though, why in the world didn’t Mr T. simply walk out? There has to be something more to the story. It just doesn’t make sense that someone would put up with 1/10th of Ping’s pangs.
Ho Lee Phuc
It’s hard to believe that the big guy didn’t know what was going on – if Kiev knew – the big head knew.
Sick shit
what kind of chinks were they? maybe one was a chinese chink and the other was a japanese chink and this was some WWII payback shit
Jiang’s philosophy that “male traders needed to be more like women (not as aggressive, etc)”…
“Etc”?! Bess, what do you mean “ETC”!?! YOU’RE ALWAYS SO VAGUE!!
-Male trader taking high levels of estrogen who is now hysterically crying
Word of advice: If someone named Ping ever asks you to play a game called ‘salad shooter,’ just say no.
That’s nuthin. When I pledged Delta at Hofstra I was the cum dumpster for the whole brotherhood. Now I’m a best-selling author.
-CG
SAC needs a new head of HR….
Why is Tong mad…Jiang just made him the Golden (shower) Boy.
Are you guys retarded? The obvious reason he didn’t beat the shit out of him and quit, and why no one else did anything to intercede, is that he LIKED it. Listen, no one pisses _inside_ your mouth unless you want it to happen.
My God. This is utterly revolting. If true these guys should all be shut up in Enfield and/or Fairfield Hills for the next decade or so.
Too bad the chimp was on the wrong side of Stamford…
Aural sodomy is soooo much better.
Eldrick Woods
@45: you sir, are a voice of rationality
40 is fucking amazing.
Crazy asians.
I dont see anything Tong with this at all
@ 51 ROR!
kinky chinky
#37 – nice.
Is it just me or do these working conditions seem untolerable?
#37 – nice.
Is it just me or do these working conditions seem intolerable?
This blows CG’s reporting away. His hack columns, books, and on-air reporting gossip reporting does not compare.
This is what it takes to be makin it Jiang at SAC
Boy – don’t piss down my mouth and tell me it’s trainin’.
I’d love to know what the settlement was and where P. Jiang is now.
Bess you need to go into federal protection ASAP.
And thank you so much for this.
deck the harrs with barrs of horry, fa ra ra ra rah, ra ra ra rah
@17 FTW
39 is a racist
I’m a Lumberjack and I’m ok,
I sleep all night,
I work all day!
Well did it improve his trading or not?
PTJ
Just another day at Treasury, pussies.
Timmy
Ping Capital
Ping Capital
28 W 44ht St.
15th Floor
NY NY
@64 – I read that in the same tone of voice that Gil Hicks uses when he asks Brodie if his cousin Walter finished on the plane or not.
45: I believe you are completely correct. The guy was getting off on this sh*t. In which case, it’s no longer sad or gross, just funny.
@61
ROR
I did all this s*** when I was at SAC. Never was a problem for me you pansies.
- Jeffery Chiang (UT Business Honors, CEO, CFA, CPA, JD)
Agreed with 45 as well. Any remotely sane person with any talent/skill/potential (Tong got hired @ SAC, so assuming he coulda left and worked elsewhere) would have reported that sh*t ASAP, and/or beat the living f*ck out of Jiang (parking lot, 415pm, be there).
Very ironic that a BJ could bring down SAC:
http://www.reuters.com/article/idUSTRE5B31YT20091204
It moved.
-DK
@71 – youre late to the party
Could not perform sexually with his wife? Give me a break. This guy is 100% batting for the other team and probably enjoyed every second of this “training program”.
@37 Nicely played.
(and my sentiments exactly)
We have updated our trading procedures to establish adequate controls and checks, separation of duties and compliance with industry-wide best practices.
Effective immediately, trade approval shall be documented by acts of oral sex in lieu of time stamps.
Please note and implement this new policy immediately.
@ 37- Well said.
@43 margaret– the hr chick in question– no longer works at SAC. bess alluded to why a few months ago.
According to that Reuters article that #73 posted, no money changed hands in the Jiang/Tong case, and the EEOC didn’t bring charges against SAC.
#45 is right – Tong was willing. eeeeeuw
i can’t figure out what’s more distrubing, the idea that someone would do this and get away with it for so long (especially in an open office setting) or the fact that this has 80+ comments already.
either way, you people are all sick f*cks.
Hmmm…. let me think of how many traders I used to work with that would go through the hormones and showers just to get approval to put on a trade…..
Wasn’t Tong suspiciously fired from a Wisconsin hedge fund for similar reasons?…???!!!
The girls at Nomos got it good!
@82 um wtf are you talking about? most of the comments here expressed shock and disgust. not sure how WE are the sick fucks.
Larry Summers left a bad taste in my mouth.
TG
Didn’t read, too royal
Not a golden shower. A golden gargle/mouthwash.
I just skimmed through this. Was there a part where Tong was forced to say, “Me so hony. Me luv you all ova.”
@89 it was a golden shower in his mouth.
God bless @35 for the dialogue and mention of SGLP.
~Admirer of Russian Art
Tulsa, OK
When you are the best as an organization and as a trader people will take shots at you. It comes with the territory. It was that way when I was at Enron.
~Hit Me on the Box
Houston
wait, d. berkowitz does this stuff to me all the time and he said there’s nothing wrong with it. is that not true?
-confused in stamford
@94 holy shit I hope you didn’t post that from you work computer…
I wanted dat job with Jiang so bad I could fuckin’ taste it. I wooda been perfect for da job, and I neva wooda squealed like dis busone Tong clown. I told ya, you shoulda hired me, Tongie!
-cg
Would be nice if Amanda Drury would comment on this situation…
You are all missing the motive – Stevie’s got a secret Asian fetish and used Jiang to coerce Tong in to a “beautiful” relationship that he could watch at the office. Check under Stevie’s desk for a spank tank.
Delicious
-Buffalo Bill
Delicious.
-Buffalo Bill
This is all second rate, “M Butterfly” material if you ask me. Life imitating art.
Im not gay, he’s gay. He sucked my c*ck!
-PJ
Asians are frauds.
Anyone up for a late lunch order? I suggest the Cream of Sum Yung Gi.
-the other Tiger (Seth’s)-
@naked / 14 I’m still laughing ten minutes later from that.
Dude, I worked at SAC. This is all true. But they didn’t get in to how we used to eat Mr. Jiang’s poo…that was the worst, especially after his famous curry binges..:(
@106 way to get your racist stereotypes confused, dbag.
Oral sodomoy refers to a regular blowjob not a rimjob, ladies.
@108 who said anything about a rimjob?
#109, see #32.
@108, since you are an expert…so, is oral sodomy a blowjob or is it really a face-fuck? (subtle difference)
Not an expert. Thought it was a rimjob first and had to look it up to confirm since a rimjob would just be way too classless. Marker in the ass and golden showers, however, have a certain je-ne-sais-quoi.
My guess would be a facefuck though to answer your question.
- #108
wait, who is B. Cohen?
@113 Brian Cohen, former SAC president. left in late ’07 after his son died (v sad).
@107, go ahead and call me a racist, but 61 killed me.
Suum cuique!
su·um cui·que … Function: foreign term. Etymology: Latin. : to each his own.
#115, you’re not alone. Well done #61.
ROR got me. I was like, “ROR? Rate of return? RO… Oh, snap!”
Since most of yous guys are friends-a-mine, I’m gonna tell yous a little secret dat I learned from some-a-my friends in Rego Park.
If you chew on an Altoids, da piss don’t taste too bad, unless da pisser ate too much asparagus.
-cg
I’m Jiang of the world!
@107- No confusion at all. Jiang used to go on crazy curry binges- he loved spicy Indian….clearly you never worked at SAC…
Urine-Gone spray bottles lying around the office. Who would have known? Traders bring pets and toddlers to work these days, right?
This can’t be for shizzle – even 5% of this would have resulted in a fist fight on most trading floors…or in this case re-run of the final fight in Enter The Dragon…
From the “silent majority” back bench substitute wanna be that I am, I rise with a red face, teary eye and and chocked up throat to say to you all – Don’t tell me that yellow water dripping into Tong’s mouth is rain! How come the SEC is looking into CYD manipulation? Total lack of focus!
6h0eMI Very good article post.Really looking forward to read more. Cool.
nHpWq8 Awesome blog post.Thanks Again. Really Cool.
Persons also forgot how to spell mail lol
In the great design of things you receive a B- with regard to effort. Where exactly you actually misplaced everybody ended up being in all the facts. As it is said, the devil is in the details… And it could not be more true here. Having said that, allow me inform you exactly what did give good results. Your article (parts of it) is certainly extremely convincing and that is possibly why I am taking an effort in order to opine. I do not make it a regular habit of doing that. Second, while I can easily see the leaps in reasoning you come up with, I am not really sure of how you seem to connect your ideas which help to make the actual conclusion. For the moment I will, no doubt subscribe to your issue but hope in the future you actually connect the facts much better.
Throughout this grand design of things you receive a B+ for effort and hard work. Where you confused everybody ended up being on your particulars. You know, it is said, the devil is in the details… And it couldn’t be much more correct at this point. Having said that, let me tell you just what exactly did do the job. Your text is very convincing and this is probably why I am making the effort in order to comment. I do not make it a regular habit of doing that. 2nd, while I can see the leaps in logic you make, I am definitely not convinced of just how you seem to connect the points that produce your final result. For right now I shall subscribe to your point but hope in the foreseeable future you link the facts much better.