Reuters reports that federal authorities have “expanded” their insider trading investigation, having sent subpoena’s to “several large hedge funds” last week. Oddly, the government failed to leak the names of the firms to the press (a rookie mistake for which someone will fired), but that’s cool, we’ll just take a few stabs.
Archive for December 2010
And in America, we don’t negotiate with terrorists! Except for when we do! [RCP]
As you may have heard, Congresswoman Maxine Waters is currently being investigated on charges she arranged stimulus funds for a minority-owned bank in which Mr. Waters owned stock. Max maintains her innocence and wants a public trial to be held “as quickly as possible so she can clear her name.” In the meantime Ms. Waters says she’s gonna be putting a few people on trial herself– two of the biatches investigating her. Continue reading »
November was, admittedly, a disappointment around headquarters. Rest assured, however, that the staff has been given a stern talking to, told they’re all idiots, and given a graphic idea of what could be in store for them should December not improve. Continue reading »
Each year at Christmas, Paul Tudor Jones orchestrates a holiday spectacular on his front lawn, spreading cheer far and wide. People travel from all over to see the display (set to music) and the tradition, which last two full weeks, is much cherished among the residents of Greenwich. As discussed last week, Jones-A-Palooza 2010 is expected to “rival those of past years,” with the possibility for Rockettes, chicken and PTJ dressed as the big man. Anyone who goes will surely have their mind blown and all are welcome, free of charge because Tudor is a very generous man. And yet, according to one Greenwich elected official, he’s not giving enough when it comes to celebrating the birth of Christ. Continue reading »
US Unloads Citi Stake For $12 Billion Profit (WSJ)
The stock sale, which was finalized Monday evening, means taxpayers will reap a profit of $12 billion on their $45 billion cash investment in Citi, the Treasury said. It also helps the government quell some of the criticism that it went too far in propping up the financial system, and allows the bank to shake the market stigma that it has effectively been a ward of the state.
Deal Struck On Tax Package (WSJ)
President Barack Obama reached agreement Monday with Republican leaders in Congress on a broad tax package that would extend the Bush-era income tax cuts for two years, reduce worker payroll taxes for one year and give more favorable treatment to business investments. Other elements of the deal include a temporary reinstatement of the estate tax at 35%—the level favored by most Republican lawmakers—as well as an extension of jobless benefits for the long-term unemployed.
Obama Summons CEOs To White House For Talks Amid Changes (Bloomberg)
Obama has met with Michael Duke, chief executive officer of Wal-Mart Stores Inc., Alan Lafley, a former CEO of Procter & Gamble Co., and Steven Reinemund, former chairman and CEO of PepsiCo Inc. He has also spoken with former President Bill Clinton. More discussions are on the way. “Over the next several weeks I’m going to be meeting with my economic team, with business leaders and others to develop specific policies and budget recommendations for the coming year,” Obama said yesterday during a speech in Winston-Salem, North Carolina.
Jim Rogers: Some European Countries Are Bankrupt (CNBC)
“You need to let Ireland go bankrupt. They are bankrupt, why should innocent Germans, Poles or anybody pay for mistakes made by Irish politicians,” Rogers said.
Julian Assange Arrested In London (WSJ)
Mr. Assange’s attorney, Mark Stephens, arrived a short time later, saying only that the WikiLeaks’ founder was in “good spirits” and his interaction with police had been “cordial.” Mr. Stephens has said he plans to fight the validity of the Swedish arrest warrant in court. The U.K. is known for carefully scrutinizing extradition requests, and in some high-profile cases has rejected these requests and refused to extradite people. Mr. Stephens said in an earlier interview that the rape allegation appeared to arise days after he engaged in “consensual, but unprotected sex” with one of the women. He added that it was “only after the women became aware of each other’s relationships with Mr. Assange did they make allegations against him.”
Hiring Intentions At US Employers Improving, Manpower Says (Bloomberg)
The U.S. labor market outlook is improving, with more employers planning to boost payrolls at the start of 2011 and fewer expecting to cut headcounts compared with the same time this year, a private survey showed today.
Chicago Police Will Taser Just About Anyone (Gawker)
Over the last year, Chicago police have used tasers on people 683 times — an increase from just 197 times in 2009. That’s because the police department more than doubled its taser arsenal, and stopped investigating every taser-related incident. Continue reading »
$$$ Moody’s Downgrades Hungary [WSJ]
$$$ Legal woes mount for a foreclosure kingpin [Reuters]
$$$ ‘American Psycho’ musical in the works [NYP] Continue reading »
New York Hedge Fund Roundtable Chair Suggests Interesting Propsal For Manager Pay: Caps
By Bess Levin“How much better do you live with $2 billion than $50 million?” chairman and founder of the New York Hedge Fund Roundtable Stanely Goldstein recently asked, the insinuation being that one does not feel much of a difference between living comfortably and living at a pay grade that affords you at least one private jet, multiple castles, an oil tanker, 1,000 eunuchs, a McMansion in every city in America (for storage), and a wing in your main house dedicated solely to deep-frying things. Goldstein wanted to make that case because it would help garner support for an idea he has: to cap hedge fund manager pay. Now, before everyone gets their fleece knickers in a twist, know this– Stan is doing this for you! “I am a free-market economy, right-of-center Republican, and I resent how the liberals have used hedge funds as a punching bag,” Goldstein said. The way he sees it, hedge fund managers would be much happier if they took home a number that wouldn’t be “ridiculed” by the public. Continue reading »
Drunken Fight With Girlfriend Results In Financial Consultant Allegedly Being Sodomized By NYPD
By Bess LevinOne evening in the summer of 2004, Ralph Johnson, a former investment banker who is a current employee of a “financial consulting firm” and a partner in “a precious metals venture,” had a little tiff with his girlfriend, Alison Bongo. The couple was at a “Manhattan nightspot,” when Ms. Bongo “blew up” after Johnson, her live-in boyfriend, “spoke to another woman.”
Back at their apartment, “the argument escalated” (on her end) when Bongo “confronted” Johnson with a bank statement with an “unexplained charge for a hotel room.” Johnson then responded in the way that is most infuriating to females, i.e. with silence. “I tried to talk to him about it and he wouldn’t listen.” Bongo became even more enraged as the silent treatment continued, even after she started “throwing things around and breaking windows.” When Johnson finally reacted, it was by “carrying her to the doorstep and locking her out.” Wrong move! Bongo started banging on the doors and “screaming at the top of her lungs,” so loudly that a neighbor called the police. Six of them broke down the door and found Johnson sitting on the couch.
Naturally, they then proceeded to throw him on the ground, face first. What happens next is in dispute. But perhaps the question a cop nervously asked Ms. Bongo before he left might be able to shed some light, namely, “if there was any reason a video camera would be set up in the apartment”? Continue reading »
You’re Going To Have To Do A Lot Better Than ‘I Have A Brain Tumor’ Next Time You Fake Sick To Get Out Of Work And Go Bowling
By Bess LevinAs most of you are probably aware, some more intimately than others, nobody actually calls in sick when they’re sick. You’re coughing up a lung, you go in; sick days are reserved for pretending to be sick so you can have a day off to dick around. Time was, this would fly with employers. Sure, the time spent writing that early morning email was a bit nerve-wracking– do you list your (fake) symptoms? or is that a give away?– but in more cases than not, it worked out. Even if your boss was suspect, it would be extremely rare for he or she to call you on the lie. Today brings troubling news that those days are OVER, if guys Rick Raymond have anything to say about it. Continue reading »
