Category archive for ‘Scandals’

• Wealth Management’s Dirty Harry

  3 March 10 • Comments Off

  In case you missed Matt Lauer’s interview with Harry Markopolis, here it is. Markopolis is the money manager from Boston who met with SEC four times and tried to expose Madoff’s Ponzi scheme. He said some terrific things during the interview and some that give my pause: “If you don’t understand the strategy, don’t invest [...]

• Fraud—Spoils of Democrats and Republicans

  24 February 10 • Comments Off

  Here’s what I don’t get. Why is it necessary to sue these groups? Stanford’s name is toxic. I would think Democrats and Republicans alike would run from any association with him and return funds—quietly, under the radar, without spending taxpayer money through a back-and-forth lawsuit.

• Financial Fraud 101

  15 February 10 • Comments Off

  Scams: Pigeon Fever Sixty Minutes ran a terrific story last night on financial scams. Conclusions: Ponzi schemes are alive and thriving Gullability is here to stay. “Affiliation marketing” is the way con artists find you—at church, the country club, you get the picture. Watch CBS News Videos Online Last year, I posted the Top Ten [...]

• How To Do a Perp Walk

  27 January 10 • Comments Off

  

  It’s Worst Case Wednesday. And here’s the advice column I promised last week. Consider the following scenario: You’re at your desk, drinking $5 Starbucks and listening to the morning call. Three burly guys—Mack Truck faces—appear from nowhere on the trading floor. They’re miked up, wearing earbuds that stream deep inside their wrinkled jackets. Watch CBS News [...]

• CIOs Wanted for Managing Director Positions

  8 January 10 • Comments Off

  (By a Leading Hedge Fund in Greenwich, CT) Times are tough. So to help out, I’m running the following job description submitted by a headhunter from Manhattan. This is an unpaid advertisement, which I’m featuring as a service to my readers. Job Ref. MN 4623 Our client is a leading US hedge fund with a [...]

• What Did We Learn from Insider Trading at Galleon?

  6 January 10 • 1 comment

  

  Hiring a dwarf to pose as a “small-cap” analyst isn’t funny. Shredding SIM cards is more effective than biting them in half. The SEC is awake. “Octopussy” is not a James Bond movie. McKinsey & Company’s publication, “Motivating people: Getting beyond money,” is a must-read for…well…McKinsey & Company. The Tamil Tigers are not a soccer [...]

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