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 ‘Raj Rajaratnam’
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 [...]
Raj Rajaratnam, hedge fund billionaire arrested for insider trading. But that’s just the start
He’s Tamil, from Sri Lanka. and gave the Tamil Rehabilitation Organization $3.5 million. Their assets were frozen in the US in Nov 2007 by Treasury after being judged a link to the Tamil Tigers.
The Feds apparently used techniques against him they typically use against organized crime and drug cartels, and this has Wall [...]
