Bags to Remain Free
—Another day, another Goldman scandal. To me, this one is not that damning, at least not to Goldman. To Raj Gupta, that’s another story. To me it is going to be hard to claim that he didn’t know he was passing along insider information. He certainly shouldn’t have told anyone about board business. But I could see him telling a family member or some other non-Wall Street acquaintance about it. To our non-financial friends, we told them anything we could to reassure them that things would work out in the depth of the financial crisis. But when Goldman Raj tells Galleon Raj that Buffett was buying, he had to know that was marketing moving behavior that the hedge fund would benefit from somehow. That’s the type of news that won’t just move Goldman, but the whole market. And the guy trades everyday, how is he not going to benefit from that information. MONEY
—Everything you needed to know about the financial reform bill, by Barbara. TIME
—More bad news for Greece. Now it looks like the country may need a bailout. Who knew? New York Times.
—Two big insurers, Aetna and Cigna, have found a new reason to blame for raising health care premiums: Obama. They say the reform bill is force them to charge customers more. MONEY
—A former Goldman employee who was involved in the Abacus deal, wrote a novel about 20-somethings colluding with hedge finds to fix the market. Sounding less like a work of fiction everyday. Reuters
— Southwest Airlines is sticking with free bags, says CEO. And they certainly won’t charge people for a No.1.
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