As you may have heard, earlier today, people working in 2 World Financial Center were evacuated from the building after a suspicious package was flagged by security. Initial reports claimed it contained a grenade; obviously this was cause for alarm and would have continued to be had the NYPD determined it to be an actual grenade and not a “grenade-like novelty item,” mounted on a plaque with a sign that says “Complaint Dept. Pull Pin.” Now that it’s clear everyone is safe (and at least mildly buzzed), a few questions need answering. Read more »
Who Didn’t Realize Sending Packages Containing Fake Grenades Was Something This Office Frowned Upon?By Bess Levin
A few months ago, I was standing in a crowded elevator when Jamie Dimon, the chief executive of JPMorgan Chase, stepped in. When he saw me, he said in a voice loud enough for everyone to hear: “Why does The New York Times hate the banks?” It’s not The New York Times, Mr. Dimon. It really isn’t. It’s the country that hates the banks these days. [Joe Nocera/NYT]
Do you have a question for us? About anything? Send it here with the subject line “What do you think of this, Dealbreaker?”
Q: If you had to assemble hedge fund all-star team, that would invest together for a year or five or whatever time-horizon we decide on (the All-Star Game, it’s them versus the market), which managers would be on it? Read more »
A reader/FEC enthusiast asks: “Today’s Living Social deal for five Big Macs and five large fries BEGS for a New Normal eating challenge. Someone has to have a hungry analyst, right?” Read more »
“Is Lloyd Blankfein ready to leave the firm?” Chaz has apparently hunted down some of Lloyd’s “friends,” who may or may not have told him LB might be ready to leave the firm, might not be ready to leave the firm or hasn’t decided what he’s feeling at the moment. Read more »
As you may have heard, the Galleon insider trading trial kicks off this week, with Raj Rajaratnam himself expected to take the stand at some point. Like every trial by jury, the process of selecting jurors will prove a formidable task, given the complicated nature of the case, and that the defense needs to make sure the fate of their client will not be left to biased individuals, with certain opinions about Wall Street and Raj in particular. The thing about prejudice, though, is that it doesn’t always present itself in the most direct possible way. Few people will probably offer, for example, that they’re “of the mind that anyone working in the financial services industry is a greedy, corrupt bastard guilty of whatever he or she has been accused of,” but if you took a gander at their reading material and saw highlighted and underlined articles by a certain writer for Rolling Stone you might get an inkling of their point of view. To that end, the questionnaire potential jurors will be asked to fill out for the Galleon trial hit on every possible area where one’s bias could be revealed. Here’s a sampling of the questions:
* Do you like to read books? ______ Yes ______ No If yes, What types of books do you read? ___________________________________
* What TV shows, newscasts, radio shows and internet websites do you enjoy on a regular basis?
* Do you have strong positive or negative views about any of the following individuals. Federal law enforcement agencies, such as the FBI? ____ Yes ____ No Wall Street Executives? ____ Yes ____ No Technology Company Executives ____ Yes ____ No Prosecutors? ____ Yes ____ No Defense Counsel? ____ Yes ____ No If Yes, what are your views? ___________________________________
* Hedge Funds have been reported in the news over the past few years. Do you have any feelings concerning this industry? ____ Yes ____ No If Yes, please describe your feelings: _________________________
* How knowledgeable or familiar do you consider yourself to be about Hedge Funds? Please explain.
* How honest do you think Wall Street Executives are?
1 Not at All Honest
2 Below Average Honesty
3 Average Honesty
4 Above Average Honesty
5 Extremely Honest
Please explain your answer. ________________________
And here are some questions that will be posed in a follow-up session: Read more »