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Why The Executive Pay Cap Just Won't Do

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Charlie Gasparino: "I was at San Pietro yesterday and I was stopped by a waiter who asked me, 'When is this going to stop?' And I said, 'What, like the financial crisis?' [And he said] 'No when are they going to stop beating up on my customers, 'cause they're not showing up.' And that's a problem. There is a trickle down here, when you start attacking this compensation system. Middle class, working class people get affected. [More importantly, Charlie Gasparino gets affected. CEOs abandon San Pietro --> San Pietro lays off busboys --> my scoops goes out the window --> Apocolypse]."
Update From my inbox:

Just read ur item. u left out with no ceos and no bus boys and if i dont get stories u dont have anything to write about. dealbreaker goes out of business and you go back to ur job waitressing.


The Feds Are Struggling To Understand Why Mathew Martoma Won't Just Turn On Steve Cohen Already, God Damn It

"We have been remarkably successful in convincing persons to cooperate with the government, and provide evidence to us, and in court of law," SEC director of enforcement Robert Khuzami said during a press conference the day the government went public with its charges of insider trading against former SAC Capital employee Mathew Martoma. To the untrained ear, Khuzami probably appeared to be speaking to no one in particular, just sending a general message to any would-be criminals out there that once the government got to their co-conspirators, it'd be all over. No one wants to do time, and everybody flips. To those who've been following Operations Perfect Hedge, though, and have watched the Feds' relentless pursuit of Steven A. Cohen,  it was obvious they were sending a clear message to the Big Guy: "We got ya boy, and ya goin' down." And since its track record of getting people to turn on their colleagues and in some cases, their best friends (see: Noah Freeman/Donald Longueuil, and these guys, and these guys, and this guy) really has been "remarkably successful," and since Martoma has a wife and two young kids and his whole life ahead of him, Khuzami and Co. probably assumed they had this one in the bag. But not so.