Reuters‘ Matthew Goldstein reports: Continue reading »
Archive for February 2011
Alleged Insider Trader Noah Freeman Has Likely Broken Hundreds Of Underage Girls’ Hearts Today
By Bess LevinAlleged Insider Trader Noah Freeman Was Planning On Playing Mister Tough Guy With The Feds
By Bess Levin“Where’s the fucking proof,” he told colleague Donald Longueuil he was going to ask Federal officials, should they try to nail him for anything, although we now know when the big moment came he decided to just confess everything and cooperate so they wouldn’t hurt him. Continue reading »
SAC Capital None Too Pleased With Some Of Its Former Employees, Who, By The By, Were Fired (For Performance)
By Bess LevinTwo in particular, according to a statement just released by the hedge fund. Continue reading »
This much they promise you. Continue reading »
Feds Charge Two Former SAC Capital Traders, One Of Whom Is A Cooperating Witness, Others With Insider Trading
By Bess Levin
The individuals who will have their names mentioned at a noon press conference are hedge fund manager Samir Barai of Barai Capital, Barai Capital analyst Jason Pflaum, former CR Instrinsic (a division of SAC) manager Donald Longueuil (most recently with Empire Capital) and former SAC PM Noah Freeman. Continue reading »
US prosecutors will announce the names during a noon press conference, which will be attended by FBI and SEC officials. Continue reading »
Bonus Watch ’11: UBS Chairman Says The Size Of His Bonus Pool Is Just Fine, Thank You Very Much
By Bess LevinLast week we reported that UBS had informed employees they’d have to wait a bit longer to find out how much they’d be taking home this year, with ‘number communication day’ being moved ’til the 16th and ‘money in your pocket day’ being delayed ’til sometime in March. CNBC speculated that UBS was stalling for time until they could scrape together a few more dollars, on account of the amount they had to divvy up among the staff being “unworkable.” Today UBS Chairman Oswald Gruebel said 1) shut your mouths and 2) size has got nothing to do with it. Continue reading »
Playboy Bunnies Must Pass Math Tests To Win Jobs, Says Former Morgan Stanley Derivatives Saleswoman Looking To Hire Them
By Bess Levin
Remember Judy Joo? She’s the woman who interned at Goldman Sachs and then spent four years in fixed income research and derivative sales at Morgan Stanley before saying good-bye to John Mack and becoming a chef. She studied at the French Culinary Institute and then worked as a pastry chef at Restaurant Gordon Ramsay and now she’s getting her very own kitchen, heading the restaurant at the new London Playboy Club. Joo’s very excited, of course, and hopes everyone working in London and visiting for business will pop over to eat some food served by some bunnies, who will “have the honor of wearing the iconic uniform of their predecessors — silk bodice, bow tie, wrist cuffs and of course bunny ears and fluffy tail.” Knowing how her former colleagues can be real insufferable pricks when it comes to members of the waitstaff, however, getting bent out of shape if the people serving them food are simply hot but not super smart, Joo has preemptively allayed any fears about the intelligence level of her girls.
“The whole thing about being a Playboy bunny is not just about being a pretty face with a rocking body: It’s about having a personality,” she said. “These bunnies are going through many different types of tests, even math, to get a position, so they’re looking for a well-rounded individual who is smart.
Bunnies are also encouraged to sit for the Level 3 CFA exam, says a club representative. Continue reading »
Gold May Get Boost From Increased Collateral Use, MF Global Says (Bloomberg)
JPMorgan yesterday said it will accept bullion “to satisfy securities lending and repo obligations” as more clients seek to use gold as an inflation hedge and to post as collateral…“The announcement should be slightly positive for gold prices, as it further grows the belief that gold is a currency and has more uses than simply acting as a safe haven or portfolio diversifier,” Tom Pawlicki, an analyst at MF Global in Chicago, said today in a report.
Meredith Whitney’s Muni Bond Prediction Draws Scrutiny (NYT)
“I’ve seen a copy of the report, and frankly, I’ve seen better papers from graduate students in finance,” said Richard P.Larkin, director of credit analysis at Herbert J.Sims & Company, a municipal bond broker and underwriter. “It’s ludicrous, reckless and irresponsible, and it’s being done without any regard for the consequences.”
Goldman Sachs Turns Bullish on European Banks Bond Market Shuns (Bloomberg)
The bank is telling investors to buy European bank stocks for the first time in more than 16 months. Bond buyers are taking the opposite view on concern that policy makers will fail to staunch the debt crisis.
Rep Ryan: Fed Should Raise Rates (CNBC)
“I’m worried they’re not going to pre-empt inflation,” Ryan said. “I’m worried they’re going to see it too late and we’re going to have a problem.”
Obama Urges Businesses To Increase Spending For Good Of The Country (Bloomberg)
“As we work with you to make America a better place to do business, I’m hoping that all of you are thinking what you can do for America,” Obama said. “Ask yourselves what you can do to hire more American workers, what you can do to support the American economy and invest in this nation.”
Behind The Bond Crisis Brouhaha (NYP)
Charlie Gasparino has a theory: “My sources in Washington say the left sees the writing on the wall: A more conservative electorate means less money from Washington to finance the various welfare schemes and public-sector unions. What better way to keep the federal gravy train running than to use predictions of another financial collapse to dismiss the budget-cutting progress made by such governors as New Jersey’s Chris Christie?”
Florida Bans Cocaine-Like Bath Salt (NPR)
“For lack of a better term, they’re flipped out. It’s almost like a psychotic break. They’re extremely anxious and combative, they think there’s stuff trying to get them, they’re paranoid, they’re having hallucinations. So, the encounters are not pleasant,” Ryan says. “And we were finding that some of these guys couldn’t be sedated with the normal drugs that we would use with other stimulants.” Continue reading »
