http://www.rollingstone.com/politics/matt-taibbi/blogs/TaibbiData_May2010/236328/83512
Me thinks it's time to shut the market down and do a major anal probe.
Does the FBI mean it will be prison time instead of the customary charitable contribution to the SEC?
One can only hope so!
News leaked out today that the feds will soon be herding a whole pen full of Wall Street firms into court on insider trading charges, including, reportedly, our old friends Goldman, Sachs.
The basic charge here is that investment banks and other firms were leaking insider info about things like mergers to closely-allied hedge funds, who in turn placed the requisite bets on or against the companies in question.
The most interesting detail in the WSJ piece, to me, was a bit about an email sent by one John Kinnucan, a principal at an Oregon-based company called Broadband Research, to a number of his clients. The email reads, in part, as follows:
"Today two fresh faced eager beavers from the FBI
