As we predicted some time ago, it would be only a matter of time before the story of how one failed prop desk trader, in this case Boaz Weinstein who blew up DB Prop only to be resurrected as the successful head of Saba Capital, took down the London whale Bruno Iksil. Sure enough over the weekend, the NYT penned a largely one-sided if entertaining read: "The Hunch, the Pounce and the Kill" which begins as follows 'It was last November, and Mr.
The SEC charged Merrill Lunch prop traders with securities fraud. The firm settled and has to pay $10 million. Lloyd Blankfein and James Gorman are in New York while their cohort - Jamie Dimon, Vikram Pandit, Brian Moynihan - party ... Read Post
Jamie Dimon announced today that JPMorgan will be keeping Highbridge Capital, the bank's hedge fund. The bank plans to deal with the new Volcker Rule by moving its best prop traders to the asset management division, says Dimon. Read... Read Post