As predicted, the Galleon insider trading case is metastasizing, spreading everywhere. My prediction. This will be bigger than Madoff, maybe even bigger than Enron.
If Galleon’s bankers were giving the firm extra info on other bank clients, then that sounds like frontrunning, a serious violation, and a serious reason not to have those banks as your [...]
Posts Tagged ‘Galleon’
Galleon paid Goldman, Morgan millions for non-public info
NY Fed forced AIG to pay banks $13 billion extra of taxpayer money
During the collapse of AIG, their credit default swap unit was negotiating with banks who had bought $62 billion in CDS and CDOs from them. AIG wanted the banks to accept discounts of up to 40%. Instead, the New York Fed, then headed by Geithner, intervened and forced AIG to pay full price.
The New York [...]
Galleon inquiry expands, implicated fund closes abruptly, links to huge fund uncovered
Babylon’s burning, baby / Can’t you see? / Babylon’s burning / With anxiety
Quadrum Capital Management got subpoenaed as part of the Galleon insider trading investigation – and was immediately shut down by its head, Richard Grodin. Further, there are long-lasting ties between Quantum and SAC Capital Advisors, which is headed by very big dog Steve [...]
Informant in Galleon case lived in mansion, was sued for making maid work 90 hours a week for $1300 a month
Roomy Khan is the apparent informant in the Galleon / Rajaratnam insider trading case. She is doing so not doing so out of ethics, but to get a lesser charge on a multitude of felonies.
Until recently, she and her husband lived in a 9,000 sq ft home, had lots of money – and settled out [...]
Fright Night comes early to Wall Street
It’s not even Halloween yet, but Wall Street already has the heebie jeebies. Hedge funds are going into screaming hysterical panic over the Rajaratnam / Galleon insider trading arrest. Why? The feds used wiretaps to build their cases and the hedgies are wondering if they were tapped and what they said if they were recorded.
Forbes [...]
