Morning Coffee Oct 19 2009

Galleon Twist: Insider Trading, Terrorism

By julie steinberg

In an interesting twist on the events of this past weekend, hedge-fund billionaire Raj Rajaratnam, who was charged as part of an insider-trading ring, may also have ties to the Tamil Tigers. Federal officials say that Rajaratnam's donations to a Maryland-based charity ultimately helped the Tigers in their fight against the Sri Lankan government (which technically ended in May). (WSJ)

Wiretaps from 2006 and 2008 reveal conversations in which "Rajaratnam and his group allegedly swapped information that could move a stock." Some colorful phrases? "I'm dead if this leaks. I really am … And my career is over. I'll be like Martha f—ing Stewart" and "I don't like talking over cell phone on this." (WSJ)

Federal officials are hoping that the case serves as a "wake-up call" for hedgies who may be tempted by insider trading. (NYT)

Ernst & Young Feels Younger
The Big Four accounting firm identifies with the iPhone brand of hip and is looking to hire thousands. Find out what you need to know to get your foot in the door in our exclussive interview with E&Y head of experienced recruiting Americas, Maureen Kelleher. (FINS)

Green Makes Green
Canaccord Adams Inc., a Vancouver-based i-bank, saw a 160% increase in i-banking revenue in the last quarter due to green tech transactions. More greenbacks on the way: Investment bankers are expecting a wave of consolidation in the green technology industry in late 2010. (The Deal)

Thanks, Uncle Sam
It's going to be the Roaring Tens, and we have Uncle Sam to thank. Goldman Sachs, JPMorgan and other winners of the past few quarters have benefited from low interest rates and implicit government backing. (DealBook)

Good Fortune in Shanghai
There's more than just an extra letter that distinguishes Citi from Citic Securities. The latter has done well in the wake of the financial crisis and has hired 80 people in the past year. The investment bank is planning on adding bankers, sales staff and equity researchers in the coming year. (WSJ)

Lateral Moves
Craving a change? If you're itching to get moving around your company or even to another finance sector, consider our tips before you take the plunge. (FINS)

We Will Overhaul You
Much like parents who can't get their children to eat broccoli, the Obama administration is frustrated that the banking industry is resisting attempts at regulation and reform. (Bloomberg)

Predictable Derision
In an not-entirely-surprising move, Obama aide David Axelrod has come down hard on last week's revelation of anticipated bonuses, calling them "offensive." (Reuters)

The Place to Be
Not all banks are atrophying. Banks owned by insurers are racking up deposits and headcount – with more growth expected on the way. (FINS)

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