GOSSIP: Today's Wall Street Buzz in 60 Seconds

Gwyneth Paltrow

Photo: Wikipedia

One of the ways that the Fed and the Comptroller of Currency are trying to prevent another financial crisis, is to have their field officers “embedded” in the firms they monitor. (Here are some of the “embeds”).John Paulson has sold all his shares of Sino-Forest, the Chinese timber company whose shares have collapsed in the wake of fraud allegations. This weekend a Canadian newspaper basically corroborated the claims made by Muddy Waters Research.

This summer, Goldman Sachs is opening a physical commodities sales and trading office in Houston. Trey Griggs will run the office; Ben Freeman, who will be head commodities trader.

Winnie Jiau was found guilty of insider trading.

Rep. Chellie Pingree married billionaire hedge fund manager Donald Sussman on Saturday at her home in Maine.

A group of firms including Coca-Cola has alleged that Goldman Sachs is manipulating the metals market by only releasing metals that it holds in certain amounts, which artificially inflates prices.

Federal Regulators sued JPMorgan and RBS for lying to credit unions in offering documents for mortgage-backed securities.

Raj Rajaratnam’s lawyer John Dowd fired off a venomous email to Chad Bray, who was covering the insider trading trial for the Wall Street Journal, during the trial. Dowd accused Bray of siding with prosecutors in his coverage of one of the cross-examinations by prosecutor Reed Brodsky.

Two hacker groups have just declared war on banks and “other high ranking institutions.”

The White House has snapped up another Wall Streeter — Eton Park’s Sarah Bianchi. Her new roles include Deputy Assistant to President Obama and senior policy advisor to Vice President Biden. At Eton Park, she was a health care consultant.

Non-Wall Street Bonus

On Friday night, Gwyneth Paltrow tweeted a “photo taken from the driver’s seat of her side-view mirror,” which showed a police car with flashing lights behind her car. Her tweet said, “Oops. Busted by New Yorks finest.”

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