so anyway

Carl Linderum was getting ready for work one morning at his London home when he heard a pounding on his door. He figured the group of men outside were employees of his gas provider, there to badger him over a disputed bill. In fact, they were plainclothes police officers and agents from the U.K.’s financial regulator. They had come to arrest the 36-year-old trader, who ran a small hedge fund, for suspected insider trading. The arrests last February of Mr. Linderum and a colleague led to the collapse of their roughly $100 million hedge fund, Lodestone Investment Partners LLP. Seven people lost their jobs. Nearly 10 months later, the Financial Conduct Authority dropped the investigation of the two Lodestone executives and a third trader from another hedge fund who was arrested at the same time…Margaret Cole, a top agency enforcement official from 2005 to 2012, says high-profile raids and arrests are a key component of the strategy—even if they don’t yield convictions. “A large part of the deterrent effect comes from the regulator doing this, and you don’t know when they might pop up and do it again,” she says. [WSJ via Matt]

Involving weightless trading and his Buzz Lightyear cape. Read more »

It was 5:01 p.m. The Blue Smoke bar was humming. Outside was hammering rain. The stock market had closed up smartly. Conversation strayed: “So I’m off to Sydney tomorrow. Then Hong Kong.” “You doing anything tonight? Tomorrow night?” “My wife was really annoying yesterday. She just doesn’t get ‘Family Guy.’” A suited man was telling a colleague, “I either get flowers for Janet or she’ll put my head in a vise.” [NYT]

When people think of Jonathan Alexander Thain, as people surely often do, lots of thinks come to mind. High school wrestling. Competitive bee-keeping. Masterful stewardship of Wall Street firms. $68,179 19th Century Credenzas. $35,000 commodes. $28,091 curtains. $87,784 area rugs. $1,405 garbage cans. A keen eye for interior design and fabulous taste in general. Though we knew the current CIT Group chief executive officer was a father, we probably wouldn’t have included his parenting skills on a list of his noted attributes and accomplishments, only because there are so many to mention and we didn’t know if he excelled as a dad like he did as a decorator. Apparently this represents a gross oversight because John Thain? Is a phenomenal dad. Award-winning, in fact. Read more »

Remember Cristina Culicea and Danille Pecile? Probably not but to recap: last July, the former Titan Capital Group assistants sued their boss, Russell Abrams who asked Danielle to print out some photos he took of his wife, Sandra, on their honeymoon. In the pictures, Sandra is posing on yacht, with her rack on full display, which apparently made Danielle uncomfortable, as did the smirk Abrams gave his underling as she handed pics over, and when he asked “You liked them, didn’t you?” She, in fact, did not. Read more »