NEW YORK (CNN) -- Former Goldman Sachs director Rajat Gupta was indicted on insider trading charges Wednesday, U.S. prosecutors say.Care to bet that Gupta's attorneys will be discussing a deal? Since the same prosecutors convicted a hedge fund billionaire and are seeking to throw him in the Graybar Hilton until 2030, Gupta has to know that those guys aren't just blustering.
According to the U.S. Attorney for the Southern District of New York and the Federal Bureau of Investigation, Gupta was charged with six counts of securities fraud and conspiracy to commit securities fraud.
So I expect that Gupta is going to be rolling over on other people at the Giant Global Vampire Squid. Ol' "God's Work" Blankfein might have some cause to start taking Ambien at night, for even the cushiest place at Club Fed is no match for a Manhattan penthouse and a home in the Hamptons.
4 comments:
we'll see some REALLY big fines from this - maybe as much as 5 or 6 figures.
A six figure fine from those guys would be like most of us having to cough up $200. The only thing that hurts them is prison time.
Goldman Sachs has already, as a firm, paid a 9-figure fine. Which was the equivalent of less than one day's profit for them.
Perp walk Lloyd Blankfein.
Perp-walk his ass right past OWS.
oh but fear not for the old line WASP Wall Streeter...you will notice that the people nailed are first gen Streeter (parvenues, arrivistes) and have a unfortunate ethnicity and skin color. They will go under the bus, while the real movers and shakers are in the bus and behind multiple cutouts.
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