Galleon Probe Stymied by Lack of Follow-Up, Ex-FBI Agent Says (Bloomberg)
Clumsy (or genius?) employees also didn’t help things: To monitor Roomy Khan, Intel set up a hidden video camera and obtained phone records that showed she faxed information to Galleon in New York, Atkinson said. The camera was ripped out by an employee, not Khan, after it was discovered, he said. “We would have liked to have gathered information for a longer time, but we weren’t able to do that,” he said. “That was a minor setback.”
Feinberg Said To Lift $500,000 Salary Limit For AIG Executives (Bloomberg)
At least for the five senior executives who were threatening to leave. Now they can stay, and continue doing a bang-up job running the best company in the world.
Bank of America Executive Under Scrutiny (NYT)
Andrew Cuomo has “concerns” about testimony given last month by Gregory Curl, the bank’s chief risk officer (and possible candidate for the CEO gig).
Morgan Stanley Shuffles Executives (WSJ)
CFO Colm Kelleher and veteran banker Paul Taubman will run Morgan’s institutional securities unit.
SEC Probing High Frequency Trading Strategies (Reuters)
And they’d like some public input, so don’t be shy.
Details Of RBS Pain Revealed By Treasury (CityAM)
Financial services secretary to the Treasury Paul Myners said the agreement provided a “much-improved” position for the taxpayer. “RBS will bear a much greater share of the burden, with the first loss increasing by £18bn. The bank will also pay the full operational costs of the Asset Protection Agency,” Lord Myners said.
Probe Extended In U.S. Insider Trade Case (Reuters)
A document filed in Manhattan federal court said prosecutors and defense lawyers “have consented that the continuance may be granted for the purpose of receiving and reviewing certain pre-indictment discovery and discussing dispositions in the case.”
Bailout Refund Is All About Pay, Pay, Pay (NYT)
Andrew Ross Sorkin has some reservations re: the BAC TARP repayment.