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WHATTTTTTTTT???
“Amazing SAC Capital Cross-dressing and Sexual-Harassment Suit Resurfaces (Updated)
- 12/4/09 at 12:04 PM
There are dark and disturbing things lurking in the waters at SAC Capital Advisors in Stamford, Connecticut, and we’re not talking about its billionaire founder’s shark in formaldehyde. Recently, the spotlight was shone on the notoriously secretive hedge fund when a former employee became a cooperating witness in the Galleon Group insider-trading case, and today, Reuters reporter Matthew Goldstein unearthed recently unsealed documents from a 2007 sexual-harassment complaint filed by former SAC trader Andrew Tong against his boss, portfolio manager Ping Jiang, which not only list his specific allegations in graphic detail but paints a picture of a culture that encouraged people to be so single-minded in their pursuit of profit that they became not only capable of dismissing moral and ethical standards, but also basic human decency.
“Steven Cohen only wants us to make money, he doesn’t care or want to know our secrets to make money,” Tong quotes his former boss Ping Jiang saying in the complaint. In Jiang’s case, Tong says, those secrets included a distinctive “training program” to which he was subjected during his first year as a trader.
As a condition of Mr. Tong’s continued employment with SAC, Mr. Jiang required him to wear subtle feminine attire in the workplace during business hours (Including blouses, slacks, shorts, and open-toed sandals). After hours, Mr. Jiang demanded Mr. Tong wear more obviously feminine attire in the workplace (consisting of bras and panties, blouses, skirts, dresses, and high-heeled sandals). On more than one occasion, Mr. Jiang summoned Mr. Tong into an empty conference room after business hours and forced him to disrobe and model various feminine outfits as well as put on makeup. During these humiliation sessions, Mr. Jiang would make comments to Mr. Tong such as, “Don’t worry, you’ll get prettier with makeup” and “you look cute in that,” and “That looks sexy on you.” This forced feminine dressing occurred throughout the course of Mr. Tong’s employment at SAC, moreover, during this entire period of time, Mr. Jiang also insisted Mr. Tong grow his hair long and wear makeup such as lipstick and nail polish. Not surprisingly, several of Mr. Tong”s co-workers commented on his appearance … Thereafter, Ari Kiev, a workplace psychologist retained by Mr. S. Cohen to enhance the performance of trader/analysts at SAC observed Mr. Tong wearing feminine attire in the workplace but did not say anything to him or Mr. Jiang (as far as he was aware)
It gets worse.
Up through March of 2006, Mr. Jiang insisted that Mr. Tong continue taking female hormones so as to “shape” his personality into “a combination of male and female traits,” including being “dedicated, hard-working, subservient and detail-oriented.” Moreover during that period of time, Mr. Jiang continued to pressure Mr. Tong to perform oral sex on him as a condition of Mr. Jiang authorizing Mr. Tong’s trades. In this regard, Mr. Jiang remarked to Mr. Tong, “You’ll have to give me a blowjob if you want to make that trade.”
There are also ropes, urine, and objects inserted into rectums, but we won’t get into that. The point is: By Tong’s own admission, this went on for a full year, and only ended when he was forcibly fired for losing $3 million on a trading scheme involving shares of a Chinese engine-manufacturing company that, again, he by his own admission admits was manipulative. Only then did he decide to fight back and sue. Why would someone put up with all of this, for so long? Well, money, of course.
Mr. Jiang reiterated his promise that Tong would make millions of dollars if (and only if) he followed Mr. Jiang’s directions unconditionally. Intimidated by Mr. Jiang’s authority and backing by senior management, as well as lured by Mr. Jiang’s promise of making millions of dollars, Mr. Tong again submitted to his superior’s demands.
In the end, following orders didn’t work out for Tong, and neither did suing. His case against SAC was closed last year, and an investigation into his claims by the Equal Opportunity Commission also dried up. He didn’t get a cent.
UPDATE: Dealbreaker‘s intrepid Bess Levin got her hands on a psychiatric evaluation of Tong. It is gross, and also sad. For example: “During the interviews, when asked directly why he obeyed the unusual alleged demands of Mr. Jiang, Mr. Tong repeatedly described thinking he was convinced that Mr. Jiang was a powerful and successful man who was a ‘great financial trader.’ He reported desperately wanting to stay employed at SAC. He wanted to learn how to become a great financial success. As a result, he did not mind wearing women’s clothing or taking the hormones. He said that if he became a successful millionaire, no one would care if he had engaged in those behaviors. Also, if people did care, it would not matter to him because he would be a successful millionaire.”
The FBI agent inside the Galleon case [Reuters via Dealbreaker]
Earlier: The Tong Song
By: Jessica Pressler
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http://www.huffingtonpost.com/2009/11/13/brent-celeks-captain-morg_n_356896.html
Source: www.huffingtonpost.com
Did anyone notice Philadelphia tight end Brent Celek’s celebration after scoring a touchdown against the Cowboys on Sunday night? The NFL sure did.
Love it.
“Do Not Mess With Julian Robertson When He Has A Lot Of Free Time On His Hands
Posted by Jon Shazar, Nov 05, 2009, 4:35pm
“New York City” dayA few former employees are learning that it’s a bad idea to poke a Tiger cub. That applies ten-fold to the leader of the pack, the inimitable Julian Robertson.
The Tiger Management founder had a tough 2000. The then-68-year-old shuttered his legendary hedge fund because he didn’t understand those newfangled gadgets that everyone on the Street was going so crazy for. Then, the New York State Dept. of Taxation and Finance slapped him with a huge freakin’ tax bill, saying he’d spent more than half of the year living in the Big Apple.
Not so, J-Rob countered: He only spent exactly 183 days in the city that year. And he launched an all-out war to prove it. Robertson and his staff spent a ridiculously extraordinary amount of time trying to account for the big guy’s every step nine years ago. In the end, it came down to just four days, including, ironically, tax day, April 15.
Thanks to the reams and reams of evidence presented by Team Robertson, we now know some of Mr. Robertson’s pet peeves, as well as at least one of Mrs. Robertson’s (hint: it’s him). For one, the billionaire has no idea how to use voice mail. He hates LaGuardia Airport (who doesn’t), and his assistant hates him.
But it was all worth it: The Division of Tax Appeals ruled in favor of the Big R, taking 77 pages to do so, but keeping almost $27 million in his pocket. So those “meticulous efforts,” under which “any day the petitioner was physically present in New York City, even for five minutes, was a ‘New York City’ day unless he was in transit between two points outside New York City,” gave one crochety old man a very satisfying victory.
In Tax Case, 4 Days Save Robertson $27 Million [WSJ]
Julian Robertson Has Troubles With Car Service, Voice Mail, Wife [Daily Intel]“
Seriously…does WS really need more cross dressers? consider we already had tinkerbell intern last year.
Posted by Bess Levin, Nov 05, 2009, 9:39am
Allegedly! The part about them assaulting an officer of the law, not about them being dressed as women, that’s been pretty well established (and the faded lipstick and eye make-up seen at left don’t lie). According to the Boston Herald, HBS’ers Christian Huot and Dina Mustafa Sidna were thrown out of the “Priscilla Ball” going down at Tequila Rain on Friday night for “high level of intoxication and disruptive behavior.” The girls (for the night) were not happy about that, and it was after they were told they could not go back inside (supposedly to retrieve their belongings— purses, etc) that things escalated:
After the club’s staff told police they couldn’t find any inside, the officers advised Huot and Sidani to call management the next day, cops said, but Huot and Sidani refused to leave.Then, police said, Sidani called the cops racists, saying, “I’m a Lebanese citizen. I’m going to call the Lebanese Embassy,” while Huot stuck his arms out, saying, “Arrest me. I want you to arrest me.”
Naturally, the business leaders of tomorrow saw the potential dollar signs:
A crowd started to gather, and when one of the officers tried to escort him up Lansdowne Street, Huot allegedly grabbed him by the throat. The officers wrestled him to the ground and handcuffed him, police said, while Sidani tried to photograph them with a camera phone, saying, “This is going to get us a lot of money.”
Huot’s attorney, who represented the Craiglist Killer, is confident this can all be settled quickly, as it would be a shame to rob Wall Street of this up and coming star.
“Mr. Huot is a promising and talented business school student,” John Salsberg said yesterday. “This is a matter that can be successfully mediated, if all the parties are willing.”
UHHH right?
Posted by Bess Levin, Nov 04, 2009, 10:44am
Are you expecting to receive an obscene amount of cashola this bonus season? What one might characterize as perhaps an “ungodly” amount? Are you feeling slightly conflicted about it, ‘cause while you love all that ka-ching! on your face, you get the sense it might mean you’re going to burn in hell, sinner? Fear not. Barclays chief John Varley has spoken to Jesus and it is all good. He wants you to get paid:
John Varley stood at the wooden lectern in St. Martin-in-the- Fields on London’s Trafalgar Square last night and told the packed pews of the church that “profit is not satanic.”“Is Christianity and banking compatible? Yes,” he said in an interview after the speech in the 283-year-old church. “And is Christianity and fair reward compatible? Yes.”
I love the deal breaker..but seriously?
“Watch a Bunch of Financial Services Hacks Rearrange Each Other’s Faces Tonight
Posted by Bess Levin, Nov 03, 2009, 4:37pm
Tickets are sold out for tonight’s annual Corporate Boxing Challenge, which is lucky for you, as it’s not really the sort of thing you’d actually want to pay to watch (but failing to do so, given that it’s for charity, would make you look like a dick), especially given that a certain Golden Gloves contender who-never-was won’t be able to make it like usual. So now you can sneak in, guilt free, and watch people like this guy get in the ring.
Name: Khuong B. ChauNickname: Silent Thunder
Age: 33
Height: 5’8
Weight: 165 LBS
Employer: Tactical Wealth Advisors, LLC
What was one of the most challenging parts about training for the fight? And the most rewarding?
Wearing a cup. The most rewarding part was meeting my boo.What do you hope to take away from all of this by the end of training and fight night?
I can defend myself against Nijas in the Greenwich Village.What do you predict for the outcome of your fight?
A knockout during warm-ups.
What is your favorite workout song? “Let’s get it on” by Marvin Gaye.After the fight are you throwing in the towel or looking forward to next year?
I’m finished with boxing and starting a Bikram Yoga camp for overweight models.
“
Comment: TMZ was able to report the singers death 4 mins after the actual death at 226pm PST. IMPRESSIVE….Then all the internet sites started crashing and what not.
Cause of death?
In an exclusive, TMZ is reporting that a member of Michael Jackson‘s family is saying that Jackson received a daily injection of a synthetic narcotic similar to morphine – Demerol – and that a dosage he received Thursday morning was “too much.”
Jackson reportedly received the shot at 11:30 a.m. Family members believe that that’s what caused the singer’s death.
Police said today they are searching for a doctor who they hope will help in the investigation of Jackson’s death.
http://www.youtube.com/watch?v=7BOhDaJH0m4
HD super slow motion video of big wave surfer Dylan Longbottom in a 12 foot monster barrel the first shots of their kind ever recorded.
the link is all u need to know. From the first pic i don’t even know which one is mom and daughter.
