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HomeLibor Scandal Update: More Evidence from Mid-1990s
Posted by Larry Doyle on November 21st, 2012 10:00 AM |
Headlines this morning highlight the fact that SAC’s “portfolio manager A”, aka Steven A. Cohen, is linked to the largest insider trading scandal brought to date by the US Attorney’s Office in New York.
This $276 million scandal and the fact that Stevie-boy might finally be hooked is sure to create ooh’s and aah’s across Wall Street and the nation. If proven, Cohen and other conspirators deserve what they get in terms of hard time.
Meanwhile in the adult pool little attention is paid to the fact that the “institutional” Libor manipulation scandal had bombshell developments yesterday. Let’s navigate. (more…)
An Insider’s Perspective on Insider Trading: “Everyone Doesn’t Belong on Wall Street”
Posted by Larry Doyle on November 26th, 2010 8:16 AM |
The Man in the Arena, written by Teddy Roosevelt in 1910, is certainly one of my favorite passages from history.
It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.
I thought of this passage in light of a communication I received from a regular reader of Sense on Cents. This reader wrote to me in response to my recent commentaries and appearance on CNBC discussing the ongoing insider trading investigation. This individual had a long and distinguished career on Wall Street. (more…)
CNBC Appearance This Afternoon at 2:40pm >>> UPDATED with Video
Posted by Larry Doyle on November 24th, 2010 10:44 AM |
***Update: video clip included below
If you’ve got some time this afternoon, please check in to CNBC’s Street Signs at 2:40pm as I will be discussing the recent insider trading probe and the implications it has on our markets.
Hopefully, I’ll be able to grab a video clip of the segment to post later today or tomorrow.
Larry Doyle
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I have no affiliation or business interest with any entity referenced in this commentary. As President of Greenwich Investment Management, an SEC regulated privately held registered investment adviser, I am merely a proponent of real transparency within our markets so that investor confidence and investor protection can be achieved.
