Supposedly the FBI was tipped off that Galleon founder Raj Rajaratnam was conducting a little illegal biz by some traders who were none too happy with Raj-Raj, on account of being fired. Also, he apparently used to brag about his income to the now defunct Trader Monthly, which should be reason enough to lock him up (kidding? But also serious.) From former TM reporter Teri Buhl:
The problem Wikileaks often runs into is how to present the material it’s been given and how to make it easier to sift through for vital information, said Assange.
“At the moment, for example, we are sitting on 5GB from Bank of America, one of the executive’s hard drives,” he said. “Now how do we present that? It’s a difficult problem. We could just dump it all into one giant Zip file, but we know for a fact that has limited impact. To have impact, it needs to be easy for people to dive in and search it and get something out of it.”
Former Fairfield Greenwich employee Sherry Cohen on the Noels:
Frontline: Did you like them?
Cohen: I think that Walter and Monica are very, very likable people.
I think that the next generation had supreme self-confidence, confidence that I kind of wish I would’ve had, except that it really got to be too much. They were sometimes arrogant. They had a tremendous sense of self-entitlement. And I wasn’t the only one who thought that. And I wasn’t the only one who thought that they were very, very aggressive…
But it would be oh-so warm and fuzzy if they did. Why not, indeed. Reuters, do tell:
…academics say an apology — for all the litigation risk it entails — can be the basis of revitalized confidence and trust.
With global markets paralyzed by the inability to rely on a counterparty, and as trust and accountability form the kernel of debates about effective regulation, some say a slice of humble pie now can help ensure bankers earn trust in future.
Or, as one commenter suggests, perhaps more than verbal contrition is required. A ritual severing of the pinky finger, on the 30th floor of 85, perhaps?
Do it for the children. For the children’s children.
Time for bankers to risk an apology? [Reuters]