Biggest insider trading case in a generation comes to trial

[pscot]

The SEC's prosecution of the Galleon Group hedge fund has Wall Street worried. More details at the link.

Stung by criticism that the SEC was allowing a rigged game, the commission stepped up its investigative efforts. It used wiretaps and insiders. Suddenly hedge funds were infiltrated by Armani-wearing Donnie Brascos.


......
The result is the most important case since Ivan Boesky in the late 1980s. It may even be bigger. Prosecutors have cast a wide net, ensaring 130 bit players and big-time operators. The evidence that’s leaked out — the 2,400 clandestine recordings of phone calls, the emails and suspects turned to aid the prosecution — is on a scale Wall Street hasn’t seen before.

“If prosecutors can’t win this case with the extremely strong set of facts and evidence against the defendant — wiretaps, cooperating witnesses and an unsympathetic defendant — prosecutors and SEC’s latest crackdown on insider trading will be effectively stopped in its tracks,” Stoltmann said.

But if the prosecution wins, the results will shake the financial industry

http://www.marketwatch.com/story/why-you-need-to-watch-the-galleon-case-2011-03-08

[Demeter]

1. Here's Hoping

that some mealy-mouthed espouser of "bipartisanship" doesn't screw the pooch.

[pscot]

3. Be nice, now

I'm ready to give them full props if they can jail some of these thieves. Like you, I'm wary.

[plumbob]

2. Get 'em!

Hit them high and low!