Three summer interns are about to go head to head. All are said to be of “medium build,” with two standing at about 5’11 and one at 5’5. Continue reading »
White Castle
How Many Tender Little White Castle Burgers With Those Little, Itty-Bitty Grilled Onions That Just Explode In Your Mouth Like Flavor Crystals Can 3 JPMorgan Interns Eat In 5 Minutes?
By Bess Levin
As you may have heard, the US government is putting on a holiday spectacular this year called Insider Trading Fest(ivus) 2010. Capping a three year investigation, charges that “could ensnare consultants, investment bankers, hedge-fund and mutual-fund traders and analysts across the nation” are said to be coming any time between now and early next year. Yesterday, Greenwich-based Level Global and Stamford-based Diamondback Capital Management, both headed by SAC Capital alums, were raided by the FBI. The Bureau also recently dispatched two hired guns to an analyst’s home, where they asked him to wear a wire while having a conversation with “this guy” they told him they were going after, that “guy” being someone at SAC, which follows last year’s unsuccessful attempt to get former SAC analyst-cum-informant Choo Beng Lee rehired in order to record chats with noted individuals there. Securities law professor John Coffee told Bloomberg those approached by the feds and asked to cooperate “will get greater leniency if they [deliver] a bigger fish” and while it may be premature to jump to conclusions, the Nancy Drews among us might infer the government has its eye on one fish in particular! Continue reading »
Ahead of tomorrow’s hearing, there have been a flurry of stories about Goldman Sachs everywhere you look, including this here site. But it was only Kate Kelly’s Wall Street Journal article that really hit home. For whatever you think about Goldman Sachs and its employees, they’re just people. Just men. Just financial services hacks who, when they’re not coming up with nefarious plots to take over the universe (JK…JK I’m serious), are shoveling food in their mouths as quickly as possible for sport.
Goldman Sachs Group Inc.’s mortgage traders, under the spotlight because of the U.S. government’s fraud lawsuit against the securities firm, made markets in more than just bonds during the real-estate bubble. They also cast bets on a White Castle hamburger-eating contest. In December 2007, after the firm distributed multimillion-dollar bonus checks in part thanks to bets on a mortgage meltdown, about 10 Goldman mortgage traders, surrounded by dozens of cheering colleagues, wolfed down the burgers, according to attendees. Bystanders wagered cash on how many burgers the traders could eat.
If you care about Lloyd and Co at all, and maybe you don’t, tomorrow you’ll step up to the plate and do one of these (but after the hearing so I can provide coverage, otherwise there’s no point). And if not for Lloyd, do it for Pookie. Continue reading »
- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
