As you may have heard, the FBI has something exciting planned for the holidays this year– Insider Trading Fest(ivus) 2010. Capping a three year investigation, charges that “could ensnare consultants, investment bankers, hedge-fund and mutual-fund traders and analysts across the nation” are said to be coming any time between now and early next year. So far the Wall Street name that’s gotten the most press– not because they’ve done anything wrong but because people love to hate on the beautiful– belongs to a hedge fund headquartered in Stamford, CT. But who are the others that may have accusations of wrongdoing laid on their asses? For one, some employees of Goldman Sachs. But lest you worry about waking up to Lloyd Blankfein being escorted out of 15 Central Park West wearing only his HLS sweats, fear not– apparently those being probed at GS are a bit lower on the totem pole.
Goldman Sachs is among the firms under scrutiny, according to a person briefed on the investigation who was not authorized to discuss the matter publicly. The person said the inquiry involved several low-level Goldman employees, not executives.
The vagueness of this statement clearly leaves it open to some interpretation. Just so we can be mentally prepared, are we to assume they’re talking about:
* (Least likely) VP-level employees?
* (Somewhat likely) Secretaries?
* (More Likely) First years trying to make a name for themselves?
* (Most likely) First years covering for partners, each of whom is assigned a buddy upon being promoted, who takes the fall for them in such instances?
* (THIS IS IT!!!) Last year’s Goldman summer interns, who are more advanced than most banks’ division heads?
Feds should lay off the secretaries, it’s not their fault “inside her” got transcribed incorrectly on the tapes
But isn’t “low level Goldman employee” > “high level UBS executive”?
–guy who likes putting things in perspective
goldman junior rainmakers ftw
Nothing will tarnish the name of Goldman Sachs!
yes– gs summer intern = ubs exec director
LB didn’t got to HBS.
I doubt first years have the connections yet to be insiders. Perhaps this might shed light on the matter:
http://books.google.com/books?id=BDionNrrBqwC&pg=PA96&lpg=PA96&dq=goldman+sachs+trading+hierarchy&source=bl&ots=W3kSCksC3m&sig=rXReUViLLd-XOepjNzzp9tHl9DE&hl=en&ei=0ZbqTMGHI4OglAfNmYGtCQ&sa=X&oi=book_result&ct=result&resnum=9&ved=0CFYQ6AEwCA#v=onepage&q=goldman%20sachs%20trading%20hierarchy&f=false
Sweeet! They’re gonna be hiring!
So being named partner not only comes with the big desk, PA, title, bonus and vested shares, it also gives you prosecutorial risk relief?
In college everyone called me The Grunter!
I heard the probe is directly targeted to all secretaries that work on the roof.
Changing your name will likely not move opinion towards a more positive light.
We get it. You’re dangerous. We all drove you to this. Etc. Et al. Yadda-yadda.
http://www.youtube.com/watch?v=x4tN_N-bMmE
Operation Get Behind the Analyst
(and try not to get killed, for god’s sake!)
Totally Awesome Post!!!!
Actually, I changed my name because I don’t trade options anymore – and it was a couple weeks ago.
Using totally and awesome does not constitute a great post
Signed,
Too many exclamation points
“Changing your name will likely not move opinion towards a more positive light.”
God, I hope you’re wrong.
Have you ever tried making a market in “shutting up” options?
I believe those options are colloquially known as “putz.”
This is Wall Street, assholes, the lower level guys ALWAYS hold the bag.
Suckers. Need more Pinol.
Shia LaBeouf ???
Some low-level heads are going to roll for this 7 month investment. Do investors get their money out before stakeholders? Maybe some Level Global employees will sing to cut a deal to nab some low level Goldman employees for the FBI.
http://www.bloomberg.com/news/2010-04-02/goldman-fund-buys-into-ganek-s-4-billion-hedge-fund.html
Goldman Sachs Buyout Firm Acquires Stake in Ganek’s $4 Billion Hedge Fund
Bess,I told you to stop dating “low-level” GS employees. Look what happened!
Next time, follow what god tells you,okey?
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