And little Jamie, little Holder wants $13 billion. Read more »
Not even Danielle Chieisi’s “little boyfriends could know.” All this business had to be on the total down low. Just Raj, Anil Kumar, Danielle Chiesi and the FBI. Read more »
FSA To Require Firms To Record Employees’ Phone Calls Despite It Being A Waste Of Money That Enterprising Insider Traders Will Undoubtedly Work AroundBy Bess Levin
The Financial Services Authority announced today that “relevant communications made with, sent from or received on mobile phones and other handheld devices must be recorded and stored for six months.” The new rule is expected to cost banks at least 10,000 pounds ($16,000) per phone, per year, which they are none too pleased about, especially given the pointlessness of the exercise. Is the UK regulator aware of the fact that if someone wants to insider trade, they’re gonna find a way, regardless of their work phone being tapped (like, for instance, using a personal phone or meeting in person to trade hot tips) and that the only thing they’re going to determine from these calls is which banks employ the highest number of bondage and clown fetishists? Yes, and they don’t care. Read more »
Time was, if you were, say, a hedge fund client of Goldman Sachs, you knew not to expect much in the way of bedside manner. No coddling, no hand holding, no Shmoopy Talk. You could try getting them on the phone, but that was generally futile, as all client calls were automatically rerouted to the Rejection Line. Oh, you felt like you weren’t getting enough attention? You wondered if maybe there was a chance they were sometimes screwing you? Too bad. The way GS saw it, you were lucky if they didn’t nut in your eye. Your only recourse was to roll over and take it, or GTFO. Since the whole “SEC fraud charge,” however, things have changed. Read more »
Timmy G, who, as we know is getting really frustrated with the whole AIG bailout storyline, apparently had a nice convo with Warren Buffett, Jamie D. and Lloyd on the day AIG was bailed out, at least according to phone logs submitted by the Fed in response to a subpoena last week from the House Oversight and Government Reform Committee.
Tim- who will testify next week- is maintaining, he never “looked at AIG memos” and that he “wasn’t involved in any AIG decisions.” Actually, he doesn’t even have any idea what AIG is. That talk with the big boys? Wasn’t him on the phone. Now leave him alone. Go harass Ben.
Rajaratnam Accomplice Danielle Chiesi Didn’t Want To Get “In Trouble,” Was “Paranoid” People Were On To ThemBy Bess Levin
But she shook it off, ’cause what the odds, right? Anyway, from the complaint against Danielle Chiesi and Mark Kurland of Newcastle Partners LP along with the others charged in the insider trading case of the day, a few recorded phone conversations. I haven’t gone through all of them yet but some opening thoughts are 1) doesn’t look good! 2) Chiesi held some meetings re: insider trading at her mom’s house, which is not cool 3) Danielle kind of has a filthy mouth. Every other word out her is “fuck” or “shit” (example: “I’m meeting him at my fucking mother’s house on Sunday”). Of course, she probably would’ve cleaned it up if she’d known people were listening but you know, hindsight. Next time!