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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 [...] Martha Stewart did five months for $44,000. That standard needs to be enforced now for everyone. 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 [...] 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 [...] 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 [...] The demoness of wiretaps is stalking the hedge funds 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 [...] |  | ||||
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