• News

    Goldman Needs A Little More Time To Craft Perfectly Worded Fuck You Letter To Securities And Exchange Commision

    As the note will undoubtedly be a good one, the SEC has said okay to the request. Do not rush Lucas van Praag’s genius. The U.S. Securities and Exchange Commission agreed to give Goldman Sachs Group Inc. additional time to file a response to the agency’s April 16 fraud lawsuit, according to two people with […]

    / Jun 18, 2010 at 4:30 PM
  • News

    SEC Embarks On “Not As Dumb As We Look” Campaign

    The SEC has taken a lotta flack over the last year or so. Given. The report that a good number of officials spend hundreds of hours looking at tranny porn during business hours was embarrassing but it was really just noise. The bigger criticism to be (justifiably) made is that the Commission as a whole […]

    / Jun 15, 2010 at 2:56 PM
  • News

    Rajaratnam Seeks Reversal of Wiretap Ruling

    Attorneys for Raj Rajaratnam have filed a brief to the Second Circuit Court of Appeals seeking to reverse an order compelling them to turn over wiretap evidence to the Securities and Exchange Commission.

    / Jun 9, 2010 at 12:13 PM
  • News

    The SEC Gives Staffers Another Way to Access Online Porn

    Finally! After six grueling months of negotiations with the union representing Securities and Exchange Commission’s employees, the agency plans to issue 294 BlackBerry’s to certain staffers by the end of July. We’re not sure whether the new devices will be the old-school Berry’s with the side-scroll wheel or the newfangled 3G models with web browsing, but you can be sure SEC favorites like will be blocked.

    / Jun 4, 2010 at 10:37 AM
  • News

    If You Can Find Him, This ex-Goldman Sachs Analyst Owes the SEC $28 Million

    After ratting on his pals for insider trading, former Goldman analyst David Pajcin decided to hightail it out of town. (Most likely to his native Croatia, although we doubt he’s holed up with his underwear seamstress aunt.) But if authorities can find him, and you know the crack investigators at the SEC will, Pajcin will owe the government $28 million, according to a judgement handed down by U.S. District Judge Kimba Wood late yesterday.

    / Jun 3, 2010 at 10:56 AM
  • News

    Art Samberg, Pequot Settle Insider Trading Charges for $28 Million

    Like we told you several weeks ago, Art Samberg and Pequot Capital Management today agreed to settle insider trading charges with Securities and Exchange Commission for $28 million.

    The SEC Division of Enforcement’s also brought a case against the alleged tipper, David Zilkha, a former Microsoft employee. That case will continue in an administrative proceeding before the Commission.

    / May 27, 2010 at 11:42 AM
  • News

    Disney Duo Arrested in Insider Trading Scheme

    A former Walt Disney employee and her boyfriend have been arrested for allegedly trying to sell tips about the media giant to a bunch of hedge funds for $15,000 each.

    / May 26, 2010 at 12:54 PM
  • News

    Musings On An ABACUS

    The following post is by Dealbreaker reader and commenter Infinite Guest. Whether they could have avoided it, I don’t know–today’s Securities and Exchange Commission acts like a wounded animal–the management of Goldman, Sachs & Co. made a strategic error by failing to cultivate a closer relationship with the new regime. That much is evident from […]

    / May 18, 2010 at 12:16 PM
  • News

    Don’t Freak out Over that Subpoena from the U.S. Securities and Equities Administration

    Apparently the SEC has discovered fraudsters trying to impersonate their own intrepid investigators, using fake email addresses containing .gov in the domain. Most of these characters are fishing around on tranny porn web sites (likely running into real SEC officials) for naive investors who will pay them fees to remove restrictions on sales of stock […]

    / May 13, 2010 at 3:05 PM
  • News

    Gasparino: Government To Probe All

    Did you think Goldman Sachs and Morgan Stanley were going to be the only ones subjected to cavity searches by the US government? Think again, mon chi-chis! Charlie Gasparino reports that you should all be girding your loins. The government has ramped up its investigation of Wall Street’s sale of toxic securities during the financial […]

    / May 12, 2010 at 3:36 PM
  • News

    Do You Want To Put A Face To The SEC Employee Who Surfed Tranny Porn On The Job?

    Do you need that visual? Of this guy attempting to log onto 385 times in one day? Or of his colleague freaking out over his hard drive being full of all the porn he’d previously saved, and frantically rummaging through his desk to find some CDs on which to put his new stash? If […]

    / May 11, 2010 at 4:47 PM
  • News

    Charlie Gasparino: Goldman To Probably Settle For At Least $1 Billion, Maybe $5 Billion

    Analysts at the Charlie Gasparino Advisory Group said this morning that after speaking with “lawyers and rival CEOs,” the (potential) Goldman Sachs settlement with the SEC is currently being “ball-parked at between $1 billion and $5 billion,” though there are many other variables to consider (for instance, Lloyd leaving and the SEC knocking $500 million […]

    / May 6, 2010 at 11:00 AM
  • News

    Gasparino: Lloyd Blankfein Might Be Throwing Himself On The Mercy Of The SEC As We Speak

    Or he might do it after lunch. Maybe tomorrow (probably not though because Cinco de Mayo is taken very seriously at GS). Could be Friday. Possibly the week after next. It would be shocking if it didn’t happen before Memorial Day but stranger things have happened. It’s really hard to say because this is one […]

    / May 4, 2010 at 10:57 AM
  • News

    Before Suing Goldman Sachs, Take A Moment To Realize Who You’re Really Hurting

    Goldman Sachs announced yesterday that it has so far been hit with six shareholder suits (on top of the SEC stuff, and in addition to a little criminal investigation by the Justice Department). And that’s fine, it’s no real sweat of Lloyd’s sack, or the sacks of Gary Cohn, or Lucas van Praag, either. Sure, […]

    / May 4, 2010 at 10:38 AM
  • News

    Last Night, You Missed The Social Event Of The Year

    You also narrowly avoided being ambushed into having a conversation about tranny tits while waiting on line for the bathroom, so same diff, no diff. Tried to grab a beer at the Gin Mill Bar the other night, but with 100 members of the SEC inside (whose bar tab the taxpayer presumably covered), it kinda […]

    / Apr 30, 2010 at 12:45 PM
  • News

    Goldman Employees Ready to Fight

    If you thought the SEC’s charges against Goldman Sachs would shake-up the tight-knit culture of the firm, think again. Apparently, they’ve only served to embolden bankers to work extra hard to do what they do best – make money. The new team spirit comes on the eve of what will most likely be a torrent […]

    / Apr 26, 2010 at 4:54 PM
  • News

    IKB Told Investors it “Drills Down” on CDOs

    IKB Deutsche Industriebank took a $150 million bath on Goldman’s famed Abacus deal and is named as the key victim of the alleged GS/Paulson scheme in the SEC’s lawsuit. But the German bank touted itself as an expert in CDOs with a top notch staff that examines investments with a fine-tooth comb. “CDO pools are […]

    / Apr 23, 2010 at 12:28 PM
  • News

    SEC Official Who Surfed Tranny Porn To Deal With Stress Of The Job– Not Alone!

    A couple months ago, we discussed an SEC worker who got in a bit of trouble with his employer for checking out a little porn while on the job. The unnamed supervisor made at least 1,800 logged attempts to check out some sites that included,,, and, which, he admitted, “were kind […]

    / Apr 23, 2010 at 10:30 AM
  • News

    Mary Schapiro is Pissed About Suggestions the Goldman Charges Were Politically Motivated

    “The SEC is an independent law enforcement agency. We do not coordinate our enforcement actions with the White House, Congress or political committees. We do not time our cases around political events or the legislative calendar. “The fact is that regulatory reform has been pending for over a year. We have brought many cases related […]

    / Apr 22, 2010 at 10:00 AM
  • News

    Pitt Thinks SEC is Betting the House With Goldman

    Former SEC chairman Harvey Pitt, who now runs a consulting business, thinks the SEC is “betting the house” by going after Goldman Sachs. In a column for The Daily Beast, Pitt says the SEC erred in not notifying Goldman or having settlement discussions with them before making the suit public. He also points tout that […]

    / Apr 21, 2010 at 1:25 PM
  • News

    Florida Grocery Arbitrageur Busted in $900M Ponzi Scheme

    Only in South Florida can a guy dupe investors out of $900 million by promising guaranteed annual returns of 10-26 percent from profits on arbitraging groceries. Reminds you of the Seinfeld episode when Kramer and Newman decided to collect empty bottles in New York and drive them to Michigan to get the extra deposit money. […]

    / Apr 21, 2010 at 12:23 PM
  • News

    SEC Nails Investment Firm For Failing To Tell Investors About The Strippers

    Listen. I get the SEC has to make up for their many, many past fuck-ups. And some people’s scams are actually worthy of being shut down, especially when whoever is running it is spending his/her ill-gotten gains on entirely selfish purchases that will make only them happy and no one else. But what of the […]

    / Apr 20, 2010 at 3:34 PM
  • News

    Judge Jed Approves Schottenfeld Settlement

    Federal District Court Judge Jed Rakoff has approved the SEC’s settlement with Schottenfeld Group, a trading firm that once employed three traders charged in the Galleon insider trading case. The settlement seemed shaky after Judge Jed requested more information from the SEC about how regulators came up with the $460,475.28 they say Schottenfeld needs to […]

    / Apr 20, 2010 at 12:55 PM
  • News

    Michael Douglas Is Ready For The SEC To Wake Up

    The noted investor has finally– finally!– weighed in on the Goldman charges.

    / Apr 20, 2010 at 10:45 AM
  • News

    Goldman Issues Another Response, Sets Up Fab as Potential Fall Guy

    Goldman Sachs just released its most detailed response yet against the SEC charges. While it appears the firm is digging in for a fight, don’t count out an eventual settlement of the suit, most likely right before it goes to court. Goldman would probably rather pay the fine and move on rather than have all […]

    / Apr 19, 2010 at 11:35 AM
  • News

    Goldman Responds to Charges

    NEW YORK–(BUSINESS WIRE)–The Goldman Sachs Group, Inc. (NYSE: GS – News) responds to a complaint filed by the SEC today. The SEC’s charges are completely unfounded in law and fact and we will vigorously contest them and defend the firm and its reputation.

    / Apr 16, 2010 at 11:58 AM
  • News

    SEC Charges Goldman Sachs With Fraud On Subprime Mortgages

    Supposedly “key facts related to subprime securities” were omitted and investors in the CDO lost $1 billion (whereas Paulson & Co, which apparently had a “hand in structuring the CDO in question,” made a billion). Dick Bové has no problem with this, and doesn’t think Goldman will either, which Mark Haines cannot believe. More from […]

    / Apr 16, 2010 at 10:40 AM
  • News

    Rattner Gets Rammed by Former Firm

    Steve Rattner, the former car czar and founder of Quadrangle Group, just got run over by his former firm. After settling this morning with Andrew Cuomo and the SEC., Quadrangle issued a statement saying “we wholly disavow the conduct engaged in by Steve Rattner, who hired the New York State Comptroller’s political consultant, Hank Morris, […]

    / Apr 15, 2010 at 1:56 PM

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