Former Goldman Sachs and UBS trader Haim Bodek went to the SEC after he learned that exchanges were offering some high-frequency traders a way to get their trades processed ahead of ordinary investors, according to The Wall Street Journal.
Goldman Sachs’ Chief Financial Officer David Viniar will retire at the end of January, the Read More
Wall Street ax: The six largest U.S. banks have cut 18,000 jobs in the last year, according to The Wall Street Journal, and the industry is showing no signs of slowing down its cost-saving efforts. Goldman Sachs said it would pare an additional $500 million in expenses in the second half of the year, Read More
Why he did it: PFGBest Founder Russell R. Wasendorf, who was arrested last week on allegations that his futures brokerage was missing more than $200 million in client segregated funds, wrote that he misappropriated funds to meet increasingly stringent regulatory requirements, according to The Wall Street Journal. (Sort of like the Stuyvesant High Seniors Read More
JPMorgan fallout: Jamie Dimon couldn’t sleep after seeing the CIO positions! He had a hard time breathing! Mr. Dimon drank vodka, others drank wine and the JPMorgan chief executive officer struggled to fire “sister” Ina Drew. Ms. Drew told executives at an April 9 operating committee meeting that early press reports of the London Whale were Read More
