Quinn's attorney, meanwhile, points out that Quinn was merely following strict orders to reel in more Fidelity trades. In fact, WSJ notes, during Quinn's tenure, Jefferies vaulted from the nation's No. 20 brokerage firm to No. 15.
No matter what Quinn's original mandate may have been, what is beginning to emerge is a detailed and vivid picture of the deal-making and goings-on between the nation's No. 1 fund company and some of Wall Street's most powerful brokerage firms--raising the larger question of whether a "darker side" looms on these trading desks.
Even yesterday's Washington Post ran an article detailing Velcro "dwarf tossing" and a longstanding feud between Fidelity Chairman Ned Johnson and former SEC Chairman William Donaldson.
Meanwhile, the
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The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.