News

  • 22 Oct 2014 at 6:44 PM

Write-Offs: 10.22.14

$$$ Lloyds Said to Cut 9,000 Jobs Amid Online Banking Shift [Bloomberg]

$$$ Betting big on marijuana futures with the Wolf of Weed Street [Men's Journal]

$$$ “The financial community has done well, but a lot of people have been left behind,” Larry Fink, chairman and CEO of BlackRock, said at the Robin Hood Investors Conference on Tuesday in Manhattan. “We should be asking the bigger question, ‘Are the investments we’re making good for society?’ ” [NetNet]

$$$ Men’s boxers promise to block ‘harmful’ cellphone rays [NYP]

$$$ Fox News Host Says Young Women Should ‘Go Back to Tinder’ Instead of Voting [Daily Intel] Read more »

HSBCAccording to lawsuits by two of her former subordinates, during her time as a senior vice-president and head of business development for North America, Eileen Hedges told another one of her subordinates, 27 year-old “Jane Doe,” to:

  • Dress provocatively on the job
  • “…have sex with male HSBC executives and clients at company-sponsored events”
  • Specifically, “have sex with an unnamed senior executive at the bank’s Mexico unit”

The boss of the year also allegedly:

  • “…falsely told co-workers that Doe was having sex with clients when they traveled to bank functions outside the U.S.”
  • “…told Doe about her own alleged extramarital affairs with HSBC executives.”1
  • “… attempted to pull down Doe’s blouse and expose her breasts in the presence of male HSBC employees.”

And the reason we now know all this is because, naturally, the subordinates who filed the lawsuits were (supposedly!) retaliated against by Hedges after complaining that her demeanor on the job was slightly less than professional. Read more »

JPM corporate challengeRegulators want detailed plans about protecting your free tee-shirts from Russian hackers, too. Read more »

charliegasparinotweet

Earlier: Charlie Gasparino Shows Enormous Restraint In Not Referring To Sun Valley Security As “Buncha Rent-A-Cops”

It says so somewhere in here, I'm sure of it! Just give me another minute to find it.Jordan Peixoto, friend/insider trading bud of worst roommate ever Filip Szymik, is ready to argue that the SEC’s administrative proceedings against him for insider trading, in Herbalife, are a violation of all of the U.S. Constitutional rights he learned about in Canadian civics classes. Read more »

Those interested should search 'extreme inflatables'The Federal Reserve Bank of New York failed to examine J.P. Morgan Chase & Co.’s investment unit ahead of the bank’s 2012 “London Whale” trading debacle, despite a recommendation from other Fed supervisors that they look at the unit involved in the trades, according to a new report. The Fed’s Office of Inspector General released a report Tuesday saying Fed supervisors didn’t follow up on signs that the bank’s chief investment office—where the traders engaging in the problematic derivatives transactions were based—needed a closer look. A team of experts from across the Fed system recommended that the New York Fed conduct “a full-scope examination” of the unit in 2009, but the New York Fed never did so, the report said. [WSJ]

  • 21 Oct 2014 at 12:59 PM

Mathew Martoma Still Going To Jail

martomaUnfortunately for the ex-SAC PM, a judge was unswayed by the defense team’s promise to reveal heretofore unknown details re: its client’s innocence. Read more »