Feds probing SAC Capital's alleged female hormone treatments

The NY Post has great headlines. Today we almost fell off our chair when we read their latest on the brewing same sex sexual harassment scandal at SAC Capital: "Two In The SAC".  Funny stuff.  (Although Steve Cohen et al may not be laughing quite so hard as we did).  In any case, this morning, the Post reports that the fund is being probed by the Equal Opportunity Employment Commission over the allegations that trader Andrew Tong was forced to take female hormones by SAC trading ace Ping Jiang, said to be SAC's second highest producer who earns upwards of $150 million. And there's a bit more on the relationship between the two traders:

The trader, Andrew Tong, 37, had studied for his doctorate in computer science at Columbia University, and his boss, Ping Jiang, 41, also was a computer brainiac who pioneered the use of computer-run "macro trading," which hedge funds wield to move global markets in just seconds.

They met nine years ago as young traders at Lehman Brothers, and moved on to other top firms over the years, all the while remaining friendly and occasionally socializing. They reunited a year ago at SAC.

"He was a very bright, quiet loner," said a former Lehman executive now at a rival hedge fund, describing him as "an aggressive trader who liked to take big positions." Another ex-Lehman exec who worked closely with Jiang said he had "never seen any [behavior] from Jiang that could possibly be related" to the claims.

One said it didn't make sense to hand out female hormones to enhance skills. "If taking female hormones actually helped you do your job, they would simply hire women here," the employee said. "But they don't. They don't think women are aggressive enough."

"The big bosses were livid. They went desk to desk to try and find out who leaked it. It was like a witch hunt," said one employee.

Lawyers for SAC and Jiang called the allegations "salacious and false," while Tong's lawyer say the allegations are "neither salacious nor false."

Two In The SAC - New York Post

Hard to swallow: SAC Capital sexual harassment case details - Wall Street Folly