Wow! A conviction!

On May 11, 2011, in Uncategorized, by Joe Costello

One is the loneliest number that you’ll ever do
One is the loneliest number that you’ll ever know
– Nilsson


The widely watched trial exposed the behind-the-scenes dealings

of a once-prestigious hedge fund that gained access to highly sensitive information about, among other things, Goldman Sachs Group Inc. at the height of the financial crisis. The government put at $63.8 million the amount in illegal profits and avoided losses Galleon realized through the scheme.

Once jury foreman Robert Jirmnson confirmed they had reached a verdict, the judge’s deputy read the results. As the deputy, William Donald, announced 14 times that he was guilty, Mr. Rajaratnam looked straight at him without flinching.

14 counts! Don’t stop their Eric, tell the White House you need more attorneys. Insider trading — Phew — you could have half the Street behind bars in no time. Yes, it will hurt campaign fundraising, but tell them for every ten in jail, you guarantee another point in the election. Two points for Lloyd and Jamie alone.

As the Journal states,

The verdict marks one the most high-profile successful prosecutions of a financial giant since the convictions of Bernard Ebbers and Jeffrey Skilling, former top executives at WorldCom and Enron, respectively, last decade.
We now all know it was wrong to stop there, in fact it was tragic.


1 Response » to “Wow! A conviction!”

  1. If you count all your assets, you always show a profit. ~Robert Quillen