Oh, for crap's sake. Goldman's Gupta got 2 years out of a possible 20.

[No Elephants]

And a piddling five million dollar fine. Give me a damned break.

Rajat Gupta, 63, of Westport, Conn., learned his fate from U.S. District Court Judge Jed Rakoff, who defended the length of the prison term he levied, blasting federal sentencing guidelines that he said called for Gupta to serve at least 6½ years behind bars. He also ordered him to pay a $5 million fine.

Citing information he received under seal, Rakoff said Gupta's crimes may have occurred because Gupta may have "longed to escape the straightjacket of overwhelming responsibility, and had begun to loosen his self-restraint in ways that clouded his judgment."

<snip>

The narrower insider trading case against Rajaratnam and his co-conspirators resulted in 26 convictions and was described by Bharara as the biggest insider trading case in history, successful in part because of unprecedented use of wiretaps more familiar to juries at mob and drug trials.

Prosecutors say Rajaratnam earned up to $75 million illegally through his trades while Gupta's attorneys point out that their client earned no profits.

http://abcnews.go.com/US/wireStory/goldman-executive-awaits-sentence-ny-court-17550192#.UIkOZIYhTrc'

So glad Judge Rakoff felt so bad for all that overwhelming responsiblity Gupta had while making millions for himself and his friends by trading on inside info, to the detriment of the rest of the investors.

See also, Business Week story, Ex-Goldman exec's 2 year sentence draws scrutiny.

http://www.businessweek.com/ap/2012-10-25/ex-goldman-execs-2-year-sentence-draws-scrutiny

Odd. The judge's wiki says he left office in 2010. :shrug:

But, he was a Bubba appointee. The Southern District of NY, because it does cover Wall Street and other important cases, is considered a plum appointment too.

[Enthusiast]

1. That sucks!.....nt