Cramer says their goals should include holding accountable those responsible for the housing crisis — “Let’s indict them. We all know that they committed, to me, they committed crimes.” — and the repayment of bonuses that were given out at banks that received TARP money. “It’s outrageous!” he said. “It is outrageous what they paid themselves. It is obscene! I mean, there are real reasons to be angry.” [Daily Intel]
outrages
SAC Capital None Too Pleased With Some Of Its Former Employees, Who, By The By, Were Fired (For Performance)
By Bess LevinTwo in particular, according to a statement just released by the hedge fund. Continue reading »
So begins the most glorious lede to a story ever to grace the (web) pages of Bloomberg. But let us backtrack for a second. As it is an incredibly secretive organization, even by the industry’s standards, many of you probably have unanswered questions about SAC, and how it became of of the most successful hedge funds ever.
Those making educated guesses have probably assumed that the culture involves a lot of drum circles, trust-falls and talk about feelings. Also a logical assumption to make would be that traders are not judged on performance– that would be too stressful and mean.
According to Bloomberg, not so much! Incredibly, employees at the $12 billion firm are judged on the work they do and– just wait, you’re not going to believe this– if they lose money, are asked to leave. (I know, this is a lot to process but we’re going to get through it together.) Continue reading »
So, some things happened this weekend and it’s all really crazy and wow I can’t even get into it I’m shaking so hard even hearing it second hand. I’m just going to let the victim speak for himself. Promise me you’ll brace yourselves, okay? It’s that bad. Continue reading »
Yesterday we discussed the matter of whether or not the coffee provided by Goldman Sachs to its employees tastes like ass. The consensus from the inside seemed to be yes, it does. Today, emboldened by the brave souls at GS who stood up to say to Lloyd Blankfein, via bitching to the press, “this coffee tastes like shit,” a Blackstone employee has done the same.
I hope you’re listening, Stephen Schwarzman.
“Re: crap coffee, I can confirm, unequivocally, that the same holds true at Blackstone. What we’re provided in the kitchen is utterly and completely foul. It can only be described as swill.”
Just who does Bob Diamond think he is, some overheated junior rainmakers at BarCap would like to know? Salaries for IB first years are apparently being upped to 70k while S&T employees (3 months counts) are remaining at 60k, a “snub” (obviously not my words) they are “none too happy about.” What are they going to do about it?
- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
