GOLDMAN CASE STRIKES FEAR INTO HEARTS OF PRUDENT COMPETITORS
THE SEC’S fraud case against Goldman might have proved an almighty headache for the bank’s own staff, but at least it’s spawned a valuable lesson for rivals.
Citi took the opportunity to send employees a missive in the wake of the accusations, imperiously titled “Think Before You Write: Avoiding Improper Electronic Communication”.
The 11-page illustrated presentation reminded employees that “ecommunications are a powerful investigative tool for US federal prosecutors, state attorneys general, regulators, plaintiffs’ lawyers and other. International enforcement agencies are expanding their use of email to build cases and investigations are increasingly going global…”
In case warnings like these weren’t enough to deter naughty staff, the bank also included a smattering of photographs and quotations for effect, including a stern-looking shot of the aggressive senator Carl Levin, the man who grilled Lloyd Blankfein, and a reminder of one of the trader emails that turned Goldman faces red, explaining “Boy, that…was one sh**ty deal”.
Not getting at all nervy, are we?
NEIGHBOURLY LOVE
Panmure Gordon’s corporate broking big man Adam Pollock was basking in the celebrity limelight yesterday after a practical joke landed him a mention on Capital FM’s breakfast show.
Pollock is currently in the process of moving house but found his removal van blocked in yesterday by a car belonging to his Wandsworth neighbour – none other than Capital’s resident funnyman Johnny Vaughan.
Cue a text from our broking chief to Vaughan while he was on air, telling him the car was about to get towed away… and a moment of fame as Vaughan relayed the message to his listeners. Very droll.
IDENTITY CRISIS
Is there no end to the lengths people will go to these days to avoid looking like they’re spending any money? I only ask after the winning bidders for billionaire investor Warren Buffett’s annual charity lunch auction yesterday pulled out of revealing their identities, despite stumping up a combined $2.6m for the privilege.
The amount set a new record for steak with the Sage of Omaha, beating Zhao Danyang of Pureheart Asset Management into second place with his 2008 bid of $2.11m.
FESTIVE FROLICS
Is it that time of year again? A missive pops into The Capitalist’s inbox from technology giant Microsoft, containing an invitation to the group’s annual “Showcase Event” at the Saatchi Gallery.
“You’ll get to play and experience the very latest must-have Christmas gifts,” spout the organisers, excitedly.
They’ll have Wham! blasting out of the speakers in the shops before the month is out,
you mark my words.
FIT FOR A QUEEN
Speaking of the golden oldies, attention-seekers in the City are going to love a new charity initiative set up by one of their own.
Liz Swanton, who works at foreign exchange risk reduction specialist CLS Bank, had the brainwave last year of raising money for charity by dressing as legendary Queen frontman Freddie Mercury for the day.
This year, she’s decided to go one bigger and launch a nationwide “Freddie For the Day” initiative to take place on 3 September and raise much-needed funds for the Mercury Phoenix Trust HIV Aids charity, originally set up in Freddie’s memory. Like dress-up days at school, only better now that we’re all supposed to be grown up…
LAP OF VICTORY
A cunning ploy, this, coming ahead of the British Grand Prix at Silverstone at the weekend – and playing on the innate competitiveness of the City boys and girls.
Foreign exchange broker FxPro, fresh from signing up to sponsor Aston Villa football club for the next three years, has struck a deal with the Virgin Racing Formula One team to launch an online game which intertwines the worlds of racing and currency trading.
Bizarre, you might think, and so is the result – you choose your car based on a currency comparison and the performance of the currency determines whether or not you end up on the podium or crashing into the barriers.
Most importantly, though, winning credits from race victories will put you in line for F1 and Premier League tickets. Time to put all that forex knowledge to good use, eh?
HIGH FLIER
Finally, wally of the day award goes to Astaire Securities’ Ruari McGirr, for arriving at the airport for his partner-in-crime Seb Wykeham’s stag do with a whole lotta luggage… and no passport.
What’s more, I hear it’s far from the first time that the supposed “high flier” has turned up without the elusive little booklet when travelling. D’oh.