conflicts of interest

Maybe Traders Shouldn’t Be Allowed To Trade Anything

For themselves, anyway. If they work at a bank. It would just make things so much simpler, says BreakingViews. Read more »

Carl Icahn, Marc Andreessen Find Common Ground

Uncle Carl thinks that the Netscape founder thinks he’s stupid or lying, re: all of Andreessen’s conflicts of interest as an eBay board member. Marc Andreessen is happy to confirm as much, and to raise him one “hypocrite.” Read more »

Greg Palm doesn’t have time for them, nor does the NY Fed for employees trying perform the job they were hired for, alleges a lawsuit filed today. Read more »

  • 08 Oct 2013 at 1:45 PM

Two Can Play At This Game, Charlie Ergen

A couple of weeks ago, some LightSquared creditors who may or may not be Dish Network chairman Charlie Ergen but who definitely want Charlie Ergen to buy LightSquared got someone who doesn’t like Charlie Ergen kicked off the committee that will consider Charlie Ergen’s bid. Well, some people who don’t like Charlie Ergen but own a few shares in his company now want a couple of people who do like Charlie Ergen thrown off of Dish’s committee handling the bid for LightSquared, for the same reason that Charlie Ergen or Charlie Ergen’s allies wanted the person who doesn’t like Charlie Ergen off the LightSquared committee. And none of them are Phil Falcone! Got it? Read more »

  • 05 Apr 2013 at 1:08 PM

Old-ish Guy To Leave Goldman Board

Stephen Friedman, who preceded Corzine as Goldman CEO and whose tenure as New York Fed chairman was prematurely ended by the somewhat unsettling sight of said New York Fed pouring bailout money into Goldman’s maw as he worked for both, has reached mandatory retirement age. Read more »

As you may have heard, in addition to the salary he was paid by the University of Michigan, Dr. Sidney Gilman made about $100,000/year through his side-gig advising “a wide network of Wall Street traders.”  That network included included Mathew Martoma, recently charged with running “the most lucrative insider trading scheme ever,” based on the information he received from Gilman, who made it a habit of leaking highly confidential drug trial data to the former SAC Capital employee. While most people that engage in fraud can’t help but spend their ill-gotten gains in a flashy way that attracts unwanted attention (expensive cars, private jets, chinchilla fur coats) the Times reports that Sid Gilman’s supplementary income “was not readily apparent in his lifestyle in Michigan.” For instance, no second home and no bragging to his colleagues about his life on Wall Street. Still, on at least one occasion, the doctor couldn’t help but let his seatmate on a flight home know that she was in the presence of a BSD. Read more »