Bank CEO: Wall Street Is High School And Banks Are An Unbangable Mess
You guys are so gonna be so sorry when their loan portfolios develop to maturity...
Investment Manager Who (Allegedly!) Teamed Up With Wife To Harass Coach For Benching Kid Also (Allegedly!) Harassed Friend And Golfing Buddy
Though apparently didn't feel the need to switch up his burner account.
If Stalking Their Son's High School Basketball Coach For Lack Of Playing Time Is Wrong, Investment Manager And His Wife Don't Wanna Be Right
Some people take high school basketball more seriously than others...
Connection To A Company Called "Yeah Baby" Not Even The Best Part Of "High School Buddies" Insider Trading Scam
Over the past several years, much has been made about the supposed incompetence of the Securities and Exchange Commission. The regulator failed to realize Bernie Madoff had been running an illegitimate Ponzi scheme, despite more or less being told by Bernie Madoff himself, "I am running an illegitimate Ponzi scheme." It went after David Einhorn, when it should have been going after Allied Capital, the company the hedge fund manager told them was committing fraud. Its proposal for stepping up investigators' games was to start a Fraud College.* Until recently, it employed individuals in the office responsible for "ensuring exchanges follow guidelines concerning...computer audits, security, and capacity" who had "little or no experience with exchange technical matters." At this point, there have been so many stories about the SEC getting things wrong that the default is to assume it fucked up, even when that is not actually the case. What's more, even when Team Schapiro is on top of its game, resources are so strained that many scams that should be caught fall through the cracks. So you can maybe understand why a group of "high school buddies," along with a few other guys they picked up along the way, who were engaging in securities fraud, weren't too worried about getting caught.