Pathetic and delusional

Bernie Madoff accuses Steve Cohen of being corrupt. I have two friends who at different times, worked for SAC. Not only did they never mention any wrong doing at SAC, they’re both absolute straight shooters who would never, ever engage in or tolerate bad acts. They both thoroughly loathe Cohen as a person and a boss, so I’m pretty sure they’d be happy to dish out the dirt if it were there. But Bernie Madoff complaining about someone else’s business ethics? Priceless.

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7 responses to “Pathetic and delusional

  1. Anonymous

    Eh, I just mentioned John Kinnucan in a previous reply to your Raj post, it appears the FBI wanted to wire him up to get the goods on a SAC guy as well as others at different hedge funds several of which are SAC spin-offs.

  2. Sound Beacher

    CF on Aug 26th I sent you a link to a NY Post story with this same item it also talked about a Harvard Business School study Madoff is bragging about too.

  3. Anonymous

    @SBer, I knew I’d read that story elsewhere, thanks. Happy to see you made it through Irene in one piece. :)

  4. Anonymous

    The FBI seems to be trying to get to “somebody” at SAC, here’s a story from July re: HF’s run by former SAC traders and prosecutions.
    http://www.reuters.com/article/2011/07/13/us-insidertrading-hedgefunds-idUSTRE76C55M20110713

    • There may be a bad egg there but I’d be astonished if it were Cohen. Of course these days, almost nothing would completely knock me down, but I, completely removed from the company except for the two friends I have who worked there,still won’t believe anything (professionally) bad about the man until they come up with wiretaps.

  5. Anonymous

    I think you’re ignoring the following, CF: what about SAC’s ex-wife’s accusations? And what reason(s) would she have to lie?

    • Ooh, she’s one bitter ex, Anon, so I’d say she has plenty of reasons. That said, it’s not impossible to believe, as I noted. I’m just going on the two friends/ex-SAC employees but, just like the guys at Frontpoint who were blindsided by Chip Skowron’s bad acts, you can work with someone and never suspect he’s a crook. We’ll see.