The expert network has “severed its relationship” with the first person to be arrested by the feds as part of Insider Trading Fest(ivus) 2010. The company said in a statement that “based upon recent events,” DC is no longer with the firm. While presumably they’re talking about the charge by prosecutors this morning that he engaged in actions management frowns upon, it could very well be sex on the desk with the cleaning lady last night. We just don’t know. [MarketWatch]

Article courtesy of Dealbreaker

$$$ “He was dismissed for being too successful in that role because the provisions in his contract were considered by the bank to be too generous.” [FT]

$$$ Chris Dodd’s Financial Reform Bill Is A Road Map Leading Directly Into The Next Crisis [BI]

$$$ Jack Grubman to Sell Townhouse for $19.6 Million [NYO]

$$$ Hedge Funds Fail When ‘Rock Stars’ Are In Charge [Bloomberg]

Article courtesy of Dealbreaker