Several weeks back, emboldened with a thesaurus and having decided they’d had enough, the Harvard Crimson staff ran an impassioned editorial urging Occupy Wall Street protestors on campus to leave Goldman Sachs, and those hoping to gain employment with the firm, alone. It’d been a “group of Occupy Harvard Protesters who attempted to disrupt a Goldman Sachs recruiting event” that set them off and no longer could they hold their tongues. The newspaper took occupiers to task for “presenting a facile and trivializing interpretation of the root causes of the economic catastrophe and debases our national conversation on the issue,” for failing to comprehend that Goldman Sachs is going to hire employees regardless– and, god damn, it, they ought to be Harvard students–, and for just generally embarrassing themselves by “pitching a simplistic conception of the financial crisis and targeting fellow students [which] is not the way to have a successful movement.” Moving forward, the Crimsonians cautioned, “Occupy ought to refrain from such ill-conceived protests in the future.” But the die had already been cast. Read more »
Back in August, a Dartmouth undergraduate wrote an editorial taking issue with “faceless hedge funds” and his peers in New Hampshire who “flock to Wall Street to perpetuate class-based systems of power and dominance.” And, as the new semester began, it turned out that Dartmouth boy wasn’t alone. At campuses across the country but particularly at Ivy League schools, those less than thrilled with Wall Street, and the prospect of their fellow students taking jobs there, have let it out. As a result, many would now prefer to disclose a raging case of gonorrhea or being born with only 7 toes, than the dirty little secret that they hope to gain employment in the financial services industry, for fear of mocking and scorn. After a group of Occupy Harvard protesters “attempted to disrupt a Goldman Sachs recruiting event at the Office of Career Services” on Monday, though, the school newspaper had decided it’d had enough. A strongly-worded editorial was in order.
… while many experts agree that Goldman was part of the problematic system that created the financial crisis, Occupy Harvard’s targeting of a Goldman Sachs recruiting event presents a facile and trivializing interpretation of the root causes of the economic catastrophe and debases our national conversation on the issue.
They went on. Read more »
Yesterday afternoon, the Securities and Exchange Commission announced that it had frozen the assets of “purported” Boston-based quant named Andrey C. Hicks. Purported because, was he actually a quant? Not so much! Other small inaccuracies in his story with which the regulator took issue, describing the total as Hicks’ “brazen web of lies”: Read more »
What did Larry Summers really think of the Winklevoss twins? “Rarely, have I encountered such swagger, and I tried to respond in kind,” the former president of Harvard said in an interview at Fortune’s Brainstorm Tech conference. Cameron and Tyler Winklevoss were at Harvard at the same time that Mark Zuckerberg launched Facebook, and they had come to Summers for help in their fight for a piece of the action. Summers dismissed them, a scene dramatized in the movie the “Social Network.” Summers didn’t try to dispel the portrayal. “One of the things you learn as a college president is that if an undergraduate is wearing a tie and jacket on Thursday afternoon at three o’clock, there are two possibilities. One is that they’re looking for a job and have an interview; the other is that they are an a**hole. This was the latter case.” [Fortune]
Gang, something big has come up this morning and we need to discuss it right now. Don’t want to scare anyone but also don’t want to minimize the enormity of this news so let’s just get right to it. Wall Street has been keeping a secret. Look around at your colleagues this morning. The ones who attended schools like Yale, Princeton and Harvard and played sports like lacrosse and squash and use the word ‘summer’ as a verb and describe the color red as Nantucket red and argue the HJs don’t count if you give them to a guy whose named ends in IV and get aroused at the mere thought of an ACK sticker? They might have had an easier time breaking into the industry than those who graduated from lower ranked universities and did not get their WASP on. Yes, really.
After you’ve picked your jaws up off the floor, you’re presumably going to want to fight us on this and shout “It can’t be!” and “You lie!” Sorry to say it, pumpkins, it’s the truth. But don’t take our word for it- someone actually did a study on the shocking phenomenon. Read more »
This event needs a corporate sponsor. Read more »
In our long and highly scientific study into the lives of Harbinger Capital couple Phil and Lisa Falcone, one thing we’ve determined is that Lisa, God’s gift to us, is not your typical hedge fund wife. For instance, most of these women would not commandeer a conference room at their husband’s office blasting music with the lyrics directing “bitches, throw your hands in the air,” citing 18 years of marriage and no pre-nup to mean “shared family office.” Most of them would not hire “little people” for their daughters’ birthday, or bring a piano-playing pig into the house or dance on a table in view of photographers. In sum, most of these women play by the rules, figuring that’s the price they’ve paid, whereas Lisa lives by the motto “I do what I want.”
One of the things Lisa has most notably wanted to do, which her fellow Hedge Fund Wives will not, is take an out of the box approach to fashion. Gladiator outfits? Yes, please. Mermaid Chic? Don’t mind if I do. Slutty Peacock? Bring. It. On. And while the fact that Phil clearly loves Lisa for who she is and has no interest in forcing her to act like one of them should be refreshing, some people have still questioned how he is comfortable with these get-ups, wondering if they attract too much attention and scare of potential and existing investors, whose hands must all times. What is the deal here? A profile on Phil in the latest issue of Bloomberg Markets that touches on his early life sheds some light. Read more »