books

It pays to be an employee at 15 Central Park West. Author Michael Gross reports in House of Outrageous Fortune, his new book about the behemoth condo building, that the average worker there made $22,500 in tips during the holiday season in 2011, give or take a few Benjamins…Not bad for tending to a tower full of influentials, plenty of whom have made Fifteen — its nickname, apparently — their base of power…Sandy Weill…is remembered by one (anonymous) staffer as being “very demanding … An automatic call is made to the manager if a letter or a magazine doesn’t arrive when it’s supposed to.” [NYM, related]

Or so he told one Bloomberg reporter. Read more »

As you have more than likely heard, Michael Lewis’s 14th book was released yesterday. In Flash Boys, Lewis explores the world of high-frequency trading, focusing on a Canadian named Brad Katsuyama who left the Royal Bank of Canada to create trading platform called IEX, which “slow[s] down customers’ orders to stymie high-frequency traders,” who Katsuyama (and Lewis) believe hurt non-HFT investors. Some people, like the co-head of equity trading at Themis Trading, have applauded Lewis’s latest effort (“We believe Lewis’s book can have a big impact on complex market-structure issues that have been simmering for years,” he told Bloomberg). Others think it’s a piece of garbage they wouldn’t use as liner in their parakeet’s birdcage. Read more »

Over at the Wall Street Journal today you will find a “Where are they now?” round-up of what “The Cast of the 2008 Financial Crisis” has been up to of late. Most of the entries mention books (Paulson, Geithner), current jobs on Wall Street and with the government (Thain, Bernanke, Steel, Dimon, Weinstein, Paulson), low-profiles and responses of “No comment” (Cayne, Mozilo, Fuld, Diamond). While lawyers for former BofA chief Ken Lewis did not get back to the Journal, “someone” close to the guy did offer this delightfully quaint update, which actually sounds like it was intended for his college’s alumni magazine or the Lewis family newsletter. Read more »

  • 01 Jul 2013 at 6:28 PM

Charlie Gasparino Is Ready For His Close-Up


[@cgasparino]

  • 24 May 2013 at 12:51 PM

Immortalizing Brian Hunter

It’s been six-and-a-half long years since Brian Hunter single-handedly destroyed a happy little “multi-strategy” hedge fund called Amaranth Advisors. Or did he?

Well, yea, with an assist from deregulation, the juvenile trading culture and some oversight that left a few things to be desired, according to the book we can now all turn to when we need a laugh at the man from Calgary’s expense.

The highlights, courtesy of a book report: Read more »

  • 08 Jan 2013 at 4:32 PM

Let’s Help Tim Geithner Name His Book

As you may have heard, Obama is apparently close to nominating Jack Lew for Treasury Secretary, giving Tim Geithner his late Christmas wish: a one-way ticket outta there. And while he’s previously said to have no interest in writing about his time in Washington (and at the NY Fed before that), friends o’ TG claim that his plan for the next year or so involve “a round of ‘detox’ and writing a book.”

Obviously we’re still very far off from anything concrete but publishers will undoubtedly be banging down his door in no time and when they do, it might be nice to at least have a title to whet their palates. While Geithner packs his bags, let’s do him a solid and come up with some options. The year spent sunning himself off the coast of Ko Samui (or puttering around Larchmont, or taking a job with the least amount of responsibility possible, whatever the detox entails) will presumably do wonders to take the edge of the last 48 months but if he’s still in an angsty phase by the time he sits down to bang out his story, perhaps one of the following would work? Read more »