Opening Bell: 1.24.17

Ex-AIG worker sues over ‘never-ending stream’ of harassment (NYP)

“Male employees would sneak under the desks of female employees in order to look up their skirts,” the suit reads. Valenti and other women were also “groped, licked or forced to endure other forms of harassment” from male colleagues, she says. Valenti was fired after she complained, the suit says.

What Bitcoin Has Become (Money and Banking)

It seems fair to conclude that the marginal buyers and sellers of Bitcoin are currently Chinese. That judgment is buttressed by at least two additional factors. First, the rise in volume that began in latter half of 2015 follows the bust in China’s stock market, pointing to Bitcoin as an alternative store of value. It also has been roughly coincident with the surge in capital outflows from China. Bitcoin anonymity is of natural value for those who wish to evade capital controls.

At Wells Fargo, Bank Branches Were Tipped Off to Inspections (WSJ)

Managers and employees at the bank’s roughly 6,000 branches across the U.S. typically had at least 24 hours’ warning about annual reviews conducted by risk employees, current and former Wells Fargo employees and executives said. That gave many employees time to cover up improper practices, such as opening accounts or signing customers up for products without their knowledge.

Goldman Sachs files $1 billion countersuit against Indonesian businessman (Reuters)

Benny Tjokrosaputro, president director of Indonesian property developer PT Hanson, filed a lawsuit in a Jakarta court in September against Goldman Sachs International. Tjokrosaputro, who says that he owned the 425 million Hanson shares that Goldman traded, is seeking $1.1 billion in compensation from Goldman. Goldman had said in response that it had bought the Hanson shares from New York hedge fund Platinum Partners in a series of "valid" transactions on the Indonesia Stock Exchange (IDX).

Trump’s D.C. hotel lost $1.1 million in Sept., Oct. (Politico)

The Pennsylvania Avenue hotel, which Trump leases from the General Services Administration, trailed its revenue projections by almost $2.3 million in September and October, House Democrats said in a letter today, citing documents provided by the GSA.

LEE COOPERMAN'S OMEGA: 2017 is the year for stock pickers (BI)

"With the arrival of Mr. Trump in Washington, the risk of a boom/bust economic outlook has increased," the letter said. That's because Trump's administration has pitched fiscal stimulus even though the US economy is close to full employment. "This is highly unusual – the unemployment rate is typically much higher than current when fiscal stimulus is introduced," the letter said.

Why health-care stocks aren’t moving after President Trump’s Obamacare executive order (MW)

Some insisted that the act is symbolic, a nod to campaign promises rather than an indication of near-term changes. “There is not likely to be much immediate initial change,” said Evercore ISI policy analyst Terry Haines. “In essence, this is pure Trump: more sound and fury than substantive impact,” said Height Securities analysts Spencer Perlman and Sumesh Sood.

Trump adviser Kellyanne Conway allegedly punched a man in the face at President Trump's inaugural ball (NYDN)

Fox Business correspondent Charlie Gasparino gave an account of the brawl in a Monday Facebook post. "Inside the ball we see a fight between two guys in tuxes and then suddenly out of nowhere came Trump adviser Kellyanne Conway who began throwing some mean punches at one of the guys," Gasparino wrote. "Whole thing lasted a few mins no one was hurt except maybe the dude she smacked."