Opening Bell: 10.30.09
Galleon Fears Raised In 2001 (FT)
An analyst in JPMorgan's alternative asset management arm said the unit "should reduce our allocation" in Galleon's flagship technology fund, citing what he described as "more negative news about Raj and his cohorts."
Bankers Expect Rising Bonus Pay To Break Records (Bloomberg)
And some people don't seem to be very happy about that: "If we were looking for a sense of Wall Street to be, 'we're hit hard, I'm going to make less money,' these results don't show it," said J. Ann Selzer, president of Selzer & Co., the Des Moines, Iowa-based public-opinion research firm that conducted the survey.
FBI Lets Barred Tycoon Oleg Deripaska Visit US (WSJ)
He needed to take some meetings with Goldman and Morgan Stanley.
Rajaratnam Started Side Venture With Ex-McKinsey Chief in 2006 (Bloomberg)
The investment firm would like to downplay the whole matter of the accused criminal's involvement: Rajaratnam "has no management role in New Silk Route nor any ownership in the firm," Rupa Ranganathan, a spokeswoman for the firm, said in an e-mail. "Neither New Silk Route nor any of its owners have any investment in Galleon." Rajaratnam has a stake of "well under" 5 percent in the firm's fund, she said.
Receiver Sets $1.5 Billion Target For Stanford Investors (AP)
John Little, a lawyer appointed to represent investors, said the recovery goal is ''something of a fantasy'' and that investors should prepare to get back as little as 2 cents on the dollar.