Everybody is talking trash about Raj Rajaratnam, including his former paramours Barclays Bank and Bank of America. The Guardian.co.uk did a report yesterday, suggesting that these banking giants are planning to divorce their former wonder boy.
The speed and scope of redemptions has left Galleon’s traders hurrying to liquidate investments. Many of them are said to be updating their CVs with a view to finding new jobs and two of Galleon’s leading brokers, Barclays and Bank of America, have told Galleon they will no longer work with the firm. Experts say that Galleon’s future is in danger.
I wonder if this will be a protracted battle, or whether theirs will be a more collaborative split?
Read more here: http://www.guardian.co.uk/business/2009/oct/20/investors-scramble-to-withdraw-funds-from-galleon
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