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Insider Trading AGAIN?
02/05/12 07:32
GASPARINO: The Feds Are Looking At A Major Financial Journalist Over Possible Insider Trading
| Fox Business News |
So the October Surprise is a very real possibility, much to [the] delight of journalists like myself. But before rejoicing we in the media should take a deep breath. These same law enforcement sources investigating insider trading among Wall Street fat cats and other corporate titans are also looking at the alleged improprieties of a major journalist who covers stocks.
WHO IS IT?
Read more: http://www.businessinsider.com/gasparino-the-feds-are-looking-at-a-major-financial-journalist-over-possible-insider-trading-2012-5#ixzz1ti9dAoRr
October Surprise
01/05/12 17:59
An October Surprise on Wall Street
The latest urban legend to spread on trading desks and through the executive suites on Wall Street goes something like this: coming this fall, as President Obama makes his final push for a second term, his Justice Department will finally give the public what it wants in the form of an arrest of a major Wall Street figure for his role in the financial crisis.
The men at the top of this "October Surprise" list are two of the more infamous figures in the banking business: former Lehman Brothers chief executive Dick Fuld and current Goldman Sachs chief executive Lloyd Blankfein.
Jon Corzine of MF Global infamy doesn't make the cut because he's also a big Obama fundraiser. But Blankfein and Fuld do, and according to the rumor mill, either or both will be charged with some financial-crisis related illegality as election day approaches and President Obama ramps up the class warfare.
Using the Justice Department for political purposes is, of course, pretty sleazy, though it's hard to put anything past an administration that's in the middle of an unseemly victory dance over killing Osama bin Laden. But after speaking to my law enforcement sources -- and you can throw people who work at the Securities and Exchange Commission and the Justice Department in this category -- I give low probability for this urban legend coming to fruition.
That doesn't mean Wall Street or Corporate America is out of the woods; these same law enforcement sources tell me that in the coming months, there is a growing likelihood of a major bust in the burgeoning insider trading investigation in which a major figure will be charged in the matter. This person, I am told, will be at least on the scale of Galleon hedge fund chief Raj Rajaratnam, thus satisfying the public's need for a Fat Cat scalp, and the administration's desire to fulfill that need.
Read More at
http://www.huffingtonpost.com/charles-gasparino/wall-street-investigations_b_1467726.html?ref=email_share
The latest urban legend to spread on trading desks and through the executive suites on Wall Street goes something like this: coming this fall, as President Obama makes his final push for a second term, his Justice Department will finally give the public what it wants in the form of an arrest of a major Wall Street figure for his role in the financial crisis.
The men at the top of this "October Surprise" list are two of the more infamous figures in the banking business: former Lehman Brothers chief executive Dick Fuld and current Goldman Sachs chief executive Lloyd Blankfein.
Jon Corzine of MF Global infamy doesn't make the cut because he's also a big Obama fundraiser. But Blankfein and Fuld do, and according to the rumor mill, either or both will be charged with some financial-crisis related illegality as election day approaches and President Obama ramps up the class warfare.
Using the Justice Department for political purposes is, of course, pretty sleazy, though it's hard to put anything past an administration that's in the middle of an unseemly victory dance over killing Osama bin Laden. But after speaking to my law enforcement sources -- and you can throw people who work at the Securities and Exchange Commission and the Justice Department in this category -- I give low probability for this urban legend coming to fruition.
That doesn't mean Wall Street or Corporate America is out of the woods; these same law enforcement sources tell me that in the coming months, there is a growing likelihood of a major bust in the burgeoning insider trading investigation in which a major figure will be charged in the matter. This person, I am told, will be at least on the scale of Galleon hedge fund chief Raj Rajaratnam, thus satisfying the public's need for a Fat Cat scalp, and the administration's desire to fulfill that need.
Read More at
http://www.huffingtonpost.com/charles-gasparino/wall-street-investigations_b_1467726.html?ref=email_share