A couple weekends ago a real estate broker at Rosehip Partners showed a couple of Wall Streeters around some rental properties. These two, an attorney with an investment bank and a portfolio manager with a hedge fund, promised "all cash for a quick deal" to the broker. The broker spent a Saturday showing the guys seven rentals. He felt it went well and they would be able to make a deal.
Then the agent got a call from a Southampton lawyer who'd had dinner with the owner of one of the rental properties. The owner was very upset after finding the first note on the kitchen counter after the showing. The second was shoved under the front door later in the afternoon when the two guys returned by themselves.
Is this what is passing for ethics on Wall Street now? (Don't answer that.) What's with the smiley face? (We don't want to know.) This agent spent numerous hours trying to earn his commission honestly and fairly. That's something Wall Streeters still haven't learned, apparently.
· Ethics, Hamptons Rentals and a Pair of Jons [Hamptons Market Wire]
· Hamptons Rentals [Official Site]