Not a Surprise. by Milota Sidorova

Is that the tip of an iceberg? Sure. American media reported arrest and charging of 14 people among which figured the richest businessmen of the country along with the financial officials last week. The case got into the spotlight since there’s been forced closure of Galleon Group. The company got into the center of a insider trading scandal that lowered the credit, pulling away the capital. The founder, Raj Rajaratnam was put in the charge. The current case points to Zvi Goffer, 32 who worked at Shottenfeld Group LLC in 2007 and at Galleon Group in 2008, just nine months before he started his own business. The charge is the same – insder trading, collaboratin! g with secret information, falsifying company’s files and cracking down the phonecalls that could be possibly detected in the future. According the press, these tactics are well known and adopted among drug dealers and some of them shown little surprise about the morality of such important Wall Street figures. The issue of morality seems to be out of question, however it’s been old truth the Wall Street was spoiling these waters through the history. If you ask about the morality of businessmen in such free country, you’re asking wrong question. You better ask where was the police, FBI, where were the business regulations and ethics? The answer is, as expected blowing in the wind. But for today, we can be slightly satisfyied with arresting group of villains having their hands in $53 million illegal profits. I wonder how many of them will be able to buy the court and how many of them will eventually reach the courtroom? Because as Diamanda Galas, one of t! he best and most original singers in the world sings, the rich! man nev er dies upon a chair.

related story (sgx15836): http://news.yahoo.com/s/ap/20091105/ap_on_bi_ge/us_hedge_fun...

by Milota Sidorova for PocketNews (http://pocketnews.tv)

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