From Cos Cob (ber), interesting market news for Greenwich high end home sellers

 

I know noting, or if I do, I am NOT saying!

I know nutink, or if I do, I am NOT saying!

SAC in talks with prosecutors to close fund to outsiders and turn into a personal trading operation for Stevie Cohen’s billions. In exchange, the feds would stop trying to put Mr. Cohen in jail. That sounds like a good deal for Cohen, but there are presumably a lot of traders, executives and even secretaries soon to be out of work.

28 Comments

Filed under Uncategorized

28 responses to “From Cos Cob (ber), interesting market news for Greenwich high end home sellers

  1. Cos Cobber

    And potentially another blow for Dannel Malloy’s thirst for income tax revenue and jobs.

  2. Anon2

    The commenters in the Bloomberg piece are pretty unhappy. One said it just right of Cohen.
    “i sorry, kindly let me take my marbles and go home; my bad. Thanks for letting me play and break the rules and take all these marbles though.”

  3. LAK

    Not Secretaries! We’re called Administrative Assistants…now.
    Yes I was a secretary for years working for a huge commodity company. Got paid lots of money too.
    And yes, I worked for the biggest Trader that fled the country & who was later pardoned by President Clinton. His name is Marc Rich.

  4. Anonymous

    I read “king of oil” recently the only biography on marc rich…i found him pretty interesting and there are many worse operators and speculators out there then he .

  5. Anon

    LAK, bet it was a blast.

  6. Matt

    So let me see if I have the SAC thing straight: He gets to front run and cheat small investors that don’t have access to his “expert network” for more than a decade. He gets to keep all the ill gotten gains for himself and his investors. His investors get to exit with their loot, scott free, and then Steve gets to keep his loot and continue reinvesting it using the same process and “network” he has used over the past 10-15 years. That’s his punishment? Do I have that right?

  7. Anonymous

    Don’t get the connection to high end home sellers….. Do you really think staffing is going down? The majority of AUM is employee (SAC) money.

  8. Anon

    So let’s see if I have this right; Steve Cohen is offering to close SAC to outside investors, many of whom are likely to leave anyway, in return for the US government leaving him alone? Must be nice to be king!!!!

    • Anonymous

      If the government has a real case they should pursue it, if they don’t, well they may settle for this, which may well be a preferred option for Cohen in any event.

  9. Anonymous

    Cohen has never had the decency to reinvest much in the community like the robber barons of days past.

  10. Anonymous

    kids in crisis is a wonderful group ran by committed, terrific folks. they’re running short this year on donations vs. last year, and it affects things meaningfully. we give a lot (for us, that is) to them, and they are a really, really deserving organization. every dollar counts.

    • Anonymous

      Great organization.

    • dogwalker

      Agreed, Anon . . . but gotta add that just about every great organization I know of in the area doing equally great work is running short in recent years.

  11. winstonthegreat

    anyone check his ability to bust end of day trades in the back office that did not go his way? he’s quite the character.

  12. winstonthegreat

    High frequency traders manipulate markets, trades go a busting; Illegal but SAC has a history with CFTC, NFA, and SEC (all incompetent)

  13. Anonymous

    You know, joke all you want. For the line workers that work there (and I’m not even talking about the traders) who make their living there and support their families from their non million dollar salaries and who are about to sign a contract to buy a new house for their growing family, this is a big deal. It’s pretty damn scary as a matter of fact.

  14. Anonymous

    U.S. Considers Using Organized Crime Law Against SAC Capital: Dow Jones. RICO Stevie?

  15. Anonymous

    hard to feel bad for anyone that works at SAC (or any other HF). they all knew what they were getting into.