Daily Archives: December 15, 2010

On any measure but profitablity, it has been another miserable year for Wall Street, concluding with Mark Madoff, son of the fraudster, killing himself in New York two years after his father’s arrest.

The suicide came as Irving Picard, the trustee for the liquidation of his father’s investment firm, was spraying the last of 60 lawsuits at big banks, hedge funds and others, seeking $40bn in compensation and damages for their roles in the affair. In among them, he has accused members of the family, including Mark, of being “completely derelict” in not identifying the fraud.

John Gapper

There is nothing quite so fascinating as office memos on trivial or superficial subjects and the example from UBS on how its staff should dress is a fine example.

On the whole, I think I more or less comply with the edicts – I try not to wear socks that are too short, or to touch up my perfume during or after the lunch break – but I am stymied by the instructions regarding ties. Under the “don’ts” in the memo, UBS lists: Read more