In a case echoing the scandals of the 1980s, federal authorities exposed what they claim is the biggest insider-trading ring in a generation — a conspiracy in which a hedge-fund kingpin and executives at blue-chip firms including IBM and Intel allegedly connived to profit on Google and other big-name stocks.
At the center was Raj Rajaratnam, founder of Galleon Group, a New York-based fund firm that manages $3.7 billion. A native of Sri Lanka, he spent years carving a reputation as a meticulous investor in technology stocks, building a fortune estimated at $1.5 billion.
How surprising. I’m shocked! Wall Street has such a sterling reputation.
Oh yeah, I feel more confident to get back into stocks now…
Is it just me, or are we seriously in the middle of the meltdown of our nation?
Capitalists who are rigging the system? Impossible!
If only we deregulated more, surely these men would be more honest and truly believe in the free market. Government is surely the problem.