Let's face it.
It hasn't been the best year for Wall Street. In fact, it's been pretty bad.
We've had a massive rogue trading loss, a major bankruptcy, some insider trading scandals, tons of layoffs hitting financial firms, major hedge fund losses and several lawsuits, just to name a few.
As a result, we've decided to put together a list of some of the naughty and nice behavior of a few Wall Streeters.
Some of them are givens for the naughty list, while for others we might have to leave that decision up to Santa.
Carsten Kegenter, head of UBS investment bank
Why he's on the naughty list:
- During his tenure as head of UBS's investment banking division, the firm lost a massive $2.3 billion in September believed to be caused by a lone rogue trader. His management protocols came under scrutiny as a result of the loss.
- In November, Kegenter was dinning with a bunch of senior bankers when he reportedly made a anti-Semitic comment about how UBS needs to cut costs like a "Jewish shopkeeper."
Raj Rajaratnam, Galleon ex-CEO
Why he's on the naughty list:
- The disgraced Galleon chief was convicted of orchestrating the largest insider trading scheme in history and was subsequently sentenced to 11 years in federal prison and fined $10 million.
Joseph "Chip" Skowron III, former FrontPoint portfolio manager
Why he's on the naughty list:
- In August, Skowron plead guilty to a single count of conspiracy to commit securities fraud and to obstruct a SEC investigation.
- Initially, he denied charges against him that a French doctor illegally tipped him off about a clinical drug trial.
Why he's on the nice list:
- Skowron, who holds a medical degree, has done extensive volunteer work in the past, but that's been on hold since the scandal.
See the rest of the story at Business Insider
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