$$$ Hedge Funds Flock Back To Asia [WSJ]
$$$ Barclays Capital Said To Plan More Cuts [Bloomberg]
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“There are obviously very severe economic and social consequences from this level of unemployment,” Bernanke said at an event hosted by Ohio State University’s Fisher College of Business. “So getting new jobs, getting unemployment down is of an incredible importance.” [Reuters]
Last February, an unnamed Securities and Exchange Commission worker got in a bit of trouble with his employer for checking out a little porn while on the job. The guy made at least 1,800 logged attempts to check out some sites that included www.ladyboyx.com, www.ladyboyjuice.com, www.trannytit.com, and www.anal-sins.com, which, he admitted, “were kind of distraction per se.” But he had a good reason which is that he had a lot of work to do, and it was stressing him out.
Now it seems that the tranny tits were in fact not just “kind of” a distraction, “per se,” but a “huge ass” distraction. In SEC Inspector General David Kotz’s latest semi-annual report, released Monday, it is disclosed that the watchdog is close to wrapping up an investigation into whether or not “a senior-level official” directed staff not to go after red flags in an investment adviser case in order to cover his own hide, which had previously investigated the firm and failed to uncover the fraud, possibly as a result of spending too much time surfing for lady boy juice at work. Read more »
“Executives at Diamondback, where FBI agents had ordered employees to put their hands in the air as they entered the premises, also were said to have been caught off guard — especially so because Peter Derby, a former top SEC official, is an employee of the fund.” [Reuters]
You know how in the wake of the feds’ Insider Trading Fest(ivus) 2010, a bunch of firms have been able to wipe the sweat off their brows while telling investors and the media that they are not the subject of an FBI investigation, i.e. in the clear? Endearingly, Bank of America seems to believe the WikiLeaks situation (founder Julian Assange claims a “big US bank,” which many believe is BAC, will be his next target, early next year) works the same way. Namely, that they’ll be receiving a formal letter from Mr. Dribbles re: whether or not they’re going down for the dirt nap. Read more »
From: [redacted at investment management arm of large US bank]
Sent: Tuesday, November 30, 2010 10:54 AM
To: All Employees
Effective immediately, we are suspending our business with Gerson Lehrman Group pending further transparency of the current investigation (see the attached link).
One of its consultants got The Call. Read more »