Archive for July 2010

  • 30 Jul 2010 at 5:15 PM

Write-Offs: 07.30.10

$$$ Jeffrey Epstein Investigated For Child Trafficking [TDB]

$$$ Ballmer’s iPad Envy [WSJ]

$$$ Moore’s Blochet Moves to Switzerland as Hedge-Fund Managers Flee U.K. Tax [Bloomberg]

$$$ Sexy spy Anna Chapman’s glamorous police mugshot sweeps internet [NYP]

  • 30 Jul 2010 at 4:56 PM

And They Say Wall Street Adds No Value To Society

From the mailbag: Read more »

  • 30 Jul 2010 at 4:42 PM

Bernanke Portfolio Bouncing Back!

Someone’s gonna be splurging at Jos A. Bank tonight. Read more »

It might seem like a difficult job to give up, what with the fame, the power, and the access to a printing press that means you’ll never be short on cash. And considering it was the thing that defined him for almost twenty years, you might think giving up the gig might be hard for Big Al. But honestly, it really wasn’t. What probably helped the transition was the unlimited offers to headline conferences in the Maldives, pocket 300 large for a giving a 5 minute speech and then sip pina coladas with ten of UBS’s finest investor relations bunnies, the months of comedic relief associated with watching his successor get his ass torn out after having promised the guy “things are in pretty good shape” just before leaving the building, and the mornings off to watch the Price is Right. But…there a couple things McG does miss and today over a lunch of grilled Swordfish and Diet Coke, he unloaded on the FT. Hint: they involve 1) being paid to just shoot the shit about the previous night’s episode of Survivor and 2) a big hunk of love who probably gives great if not sweaty bear hugs. Read more »

  • 30 Jul 2010 at 2:50 PM

How To Score Points With Your Employees

BTW, for anyone looking for the actual reason why Susquehanna International Group is allegedly the best firm to work at, the answer may involve the fact that they pretty much just let everyone play poker all day (“poker pervades the culture of SIG”). Something to think about.

Related: If You Don’t Like Playing Poker, Consider Re-Thinking This Career On Wall Street Thing, Says One Firm

Here’s one: in an online survey of current and former employees, Goldman Sachs beat out a whole slew of financial services firms to be named– wait for it– the second best place to work. Now, I know a lot of other banks and institutions would be sending out congratulatory emails about how great an achievement this is and so on and so forth right about now. That’s because these banks and institutions are losers, just as second place is (the number one loser, in fact). Reuters is trying to make a big deal of the whole thing, offering Goldman a pat on the back, going on about how this is great news in a time that Goldman could really use it, which is of course just making things worse. Why not draw attention to the fact that GS is the best place to work after freaking Susquehanna International Group, Reuters? You know what Goldman could really use, Reuters? You stuffing it. This is not great news. Goldman finishes second to no one and it certainly doesn’t finish second to companies headquartered in Lower Merion Township. Today, though, the bank did.

[Breathe] Read more »

They want to act like children? Fine. That’s their prerogative. He’s done.

“If the goal of the SEC is every two or three weeks to come out and say that there’s another financial company that’s done something wrong,” the agency will drive home the belief “that the financial system in the United States is rotten, that it’s run by crooks who create fraudulent products,” said Dick Bove, analyst at Rochdale Securities. As investors wait for more regulatory shoes to drop, “the markets will continue to act in the volatile fashion that they are right now,” he said.

Citigroup to pay $75 mn to settle SEC charges [Business Standard]

Remember Cristina Culicea and Danille Pecile? Probably not but to recap: last July, the former Titan Capital Group assistants sued their boss, Russell Abrams who asked Danielle to print out some photos he took of his wife, Sandra, on their honeymoon. In the pictures, Sandra is posing on yacht, with her rack on full display, which apparently made Danielle uncomfortable, as did the smirk Abrams gave his underling as she handed pics over, and when he asked “You liked them, didn’t you?” She, in fact, did not. Read more »