Wednesday, May 11, 2011

Rajaratnam guilty

We all knew he did it, right?  Plus, this does not seem like the best time to advance the "it happens all the time on Wall Street" argument.  In listening to wiretaps, it is easy to believe that Rajaratnam did not really believe that he was doing anything wrong.  While it is arguably the biggest insider trading case in history, it is only the tip of the iceberg, and it takes two people to exchange information illegally.  It is not at all apparent that the larger participants in this scheme, like Goldman Sachs, will be held accountable.

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