It's a success but as I've said before, this is a drop in the bucket compared to the big money lost by the Wall Street old boy network. The fact that Rajaratnam is not white and not part of one of the big firms should not be overlooked. He cheated and deserves to pay the price but how is it possible that the trillions lost by Goldman, Citi, JP Morgan and Morgan Stanley get a pass? Wall Street continues to evade real justice.
Hedge fund founder Raj Rajaratnam was found guilty on all 14 counts in a sweeping insider trading verdict Wednesday that vindicated the government's aggressive use of phone taps to prosecute Wall Street figures.
Rajaratnam, founder of the Galleon Group and the central figure in the broadest Wall Street insider trading probe in decades, will appeal the use of the secret recordings, tactics historically deployed in organized crime and drug trafficking cases, not white-collar probes.
