The consultant at the center of the FBI's insider trading probe has grabbed the microphone and won't let go. Is it an amateur move? Or a brilliant one?
Sometimes, it's difficult to figure out the motive behind people's actions. Take Julian Assange, for example. Is he actually an anarchist? Or just a wannabe playboy? It's hard to say. Maybe he's both.
Then there's John Kinnucan, heretofore-unknown technology researcher and current toast of the financial airwaves. Kinnucan, you may recall, runs a research firm called Broadband Research that connects investors with industry participants for a fee. He was contacted by the FBI at the end of October and asked to wear a wire in an insider-trading investigation targeting certain hedge funds, including the Big Kahuna, Steve Cohen's SAC Capital. More
He's the man with the bulls-eye on his head, yet the Feds can't quite seem to hit it. It's beginning to look like it's riskier to be associated with the hedge fund giant than it is to be Steve Cohen himself.
Last week's flurry of news about a massive investigation into insider trading by hedge funds had Wall Street asking its favorite recurring question: Are they finally going to get MOREDuff McDonald, Contributing Editor - Dec 3, 2010 10:44 AM ET
The latest insider trading investigation is focusing on the new hub of Wall Street information: independent research networks that pay so-called experts for information on public companies.
What is it with Wall Street these days that it won't let a record stand for the usual amount of time? First, Marc Dreier gets one-upped by Bernie Madoff. Then, Bear Stearns gets bested by Lehman Brothers. And now the Galleon insider trading MOREDuff McDonald, Contributing Editor - Nov 22, 2010 11:49 AM ET
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