Gary Weiss Thinks Grasso Suit Is 'Silly', Grasso Is A Diminutive, Hairless Man

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In a recent open letter-- seriously-- to Eliot Spitzer and Andrew Cuomo, Gary Weiss goes to bat for Dick Grasso, claiming he deserved (and deserves) "every penny" of his compensation package, and that Cuomo should drop what Spitzer started. (Weiss also brags about how he "used to slam [Grasso] Business Week" before it was fashionable to do so and calls him a "bald little man," which we think is kind of uncalled for and somewhat counterintuitive but won't pass judgment on at this time). Weiss would also, apparently, like Cuomo to focus his attention on the securities arbitration system, pump and dump fraud, hedge funds, and naked short-selling conspiracy theorist CEOs. When he finally has him where he wants him, Weiss takes Cuomo to task for using the phrase "different time" twice--twice!-- in a recent interview. Then he signs his name in letters cut out of magazines and newspapers, and encloses a picture of Cuomo's bulldog Maude, who, suspiciously, has recently gone missing.*
Dear Eliot, Dear Andrew [Forbes]
*Okay, fine, no. But we've only seen the online edition-- this could have legitimately happened in print.


Kweku Adoboli Is A Free Man!

Kind of! Though he doesn't go to trial until September, the UBS's rogue trader was granted bail after ten months in jail and a February denial to go home. Naturally, he's pretty pleased about the turn of events (which allow for sleepovers). Mr. Adoboli, 32, has to stick to a curfew but can stay at a friend’s house wearing an electronic tag as part of the bail agreement. Tim Harris, Mr. Adoboli’s lawyer at Bark & Company, said his client was “delighted” and would like to thank family and friends for their support in achieving his release. Mr. Adoboli is expected to be released from London’s Wandsworth prison as early as Monday, Mr. Harris said. Mr. Adoboli had pleaded not guilty to counts of false accounting and fraud. He was arrested in September after UBS alerted the police. The bank claimed that Mr. Adoboli had masked the billion dollar losses from internal controls with fictitious trades. Mr. Adoboli has remained in custody ever since his arrest. The trading scandal rocked the Swiss bank and led to the resignation of its chief executive, Oswald J. Grübel. Denying Mr. Adoboli bail in February, the judge said that the allegations against the former trader were “serious” and “backed up with cogent evidence.” Former UBS Trader Is Granted Bail [Dealbook]