Article: Stephen Cohen’s hedge fund SAC Capital charged with insider trading

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Stephen Cohen’s hedge fund SAC Capital charged with insider trading

Reuters, 26 July 2013

US prosecutors indicted billionaire Steven A. Cohen’s hedge fund for insider trading, a rare move that could end the career of one of Wall Street’s most successful investors and trigger a fundamental change in how traders try to gain an edge over rivals.

The government accused SAC Capital Advisors LP of presiding over a culture where employees flouted the law and were encouraged to tap their personal networks of contacts for inside information about publicly traded companies. Continue reading “Article: Stephen Cohen’s hedge fund SAC Capital charged with insider trading”

Article: U.S. charges SAC Capital with insider trading crimes

Article - Media, Publications

U.S. charges SAC Capital with insider trading crimes

Emily Flitter, Svea Herbst-Bayliss, Jonathan Stempel, 25 July 2013

U.S. prosecutors indicted billionaire Steven A. Cohen’s hedge fund for insider trading, a rare move that could end the career of one of Wall Street’s most successful investors and trigger a fundamental change in how traders try to gain an edge over rivals. Continue reading “Article: U.S. charges SAC Capital with insider trading crimes”

Article: Notes on David Einhorn: The Predator in a Cute T-Shirt

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Notes on David Einhorn: The Predator in a Cute T-Shirt

Mark Mitchell

DeepCapture, 10 June 2010

I received an email a while back from Jim Brickman, a crony of short selling hedge fund manager David Einhorn, demanding that I post the Securities and Exchange Commission inspector general’s report on the commission’s investigation of Allied Capital. According to Brickman, the report proves that Einhorn was right about Allied being a massive fraud. Moreover, says Brickman, the report definitively establishes that Einhorn did not seek to drive down Allied’s stock price. The report, which I gladly post below, does nothing of the sort. I will discuss the report in further detail, but first a little history.

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Article: How Wall Street Is Using the Bailout to Stage a Revolution

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How Wall Street Is Using the Bailout to Stage a Revolution

Matt Taibbi

Rolling Stone, 2 April 2009

It’s over – we’re officially, royally fucked. no empire can survive being rendered a permanent laughingstock, which is what happened as of a few weeks ago, when the buffoons who have been running things in this country finally went one step too far. It happened when Treasury Secretary Timothy Geithner was forced to admit that he was once again going to have to stuff billions of taxpayer dollars into a dying insurance giant called AIG, itself a profound symbol of our national decline – a corporation that got rich insuring the concrete and steel of American industry in the country’s heyday, only to destroy itself chasing phantom fortunes at the Wall Street card tables, like a dissolute nobleman gambling away the family estate in the waning days of the British Empire.

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