Galleon Informant Surfaces (WSJ)
Roomy Khan, who worked for Galleon in the late 90s, is said to be "Tipper A." In 2005, she asked Rajaratnam for another job. He didn't give her one, but he did ask if she had any inside information about any companies (turns out the answer was yes). Investigators say the informant and Mr. Rajaratnam both traded shares of Polycom multiple times, as well as shares of two other companies where the informant allegedly got inside information: Hilton Hotels and Google Inc. Also, Kahn and her husband were sued by their housekeeper a few years ago.
Meriwether Setting Up New Hedge Fund (FT)
How much investor money can John Meriwether lose in one lifetime? Step right up and find out. Fresh off the success of JWM Partners and huffing on the fumes of the LTCM days, Meriwether is starting a third hedge fund, JM Advisors Management, to launch next year. It will reportedly use the same strategy as both LTCM and JWM to "make" money. Act now to get in on this can't-lose opportunity.
TPG Plans To Return $20 Million In Fund Fees (WSJ)
Throwing investors a bone: "The gesture is TPG's second concession this year, as it tries to shore up its relationships with investors who have committed billions of dollars with the private-equity firm but have seen little in the way of new deals or positive investment returns."
Galleon managers in Asia explore buyout of fund (Reuters)
"Management buyout is the most logical option," said one of the sources, who declined to be identified because the talks were not public.
Credit Suisse Posts Third Straight Quarterly Profit on Trading (Bloomberg)
Net income was 2.35 billion Swiss francs ($2.33 billion), compared with a loss of 1.26 billion francs in the year-earlier period, the Zurich-based bank said in a statement today. Brady Dougan is "confident" about the banks business model.