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Posts Tagged ‘wall street insider trading’

Update: David Slaine Pleads Guilty

Posted by Larry Doyle on February 2nd, 2010 10:02 PM |


Wall Street master of the universe David Slaine has now been reduced to just another in a long line of Wall Street crooks.

God forbid one tries to make an honest living in the financial industry.

I first wrote about Slaine on January 17th. At that point, I wondered whether Slaine’s cover as a government mole in the ongoing insider trading investigation on Wall Street had been blown by The Wall Street Journal. Was somebody trying to out Slaine in order to distract or derail the ongoing investigation?

We may never know. What we do know now is that Slaine had already pled guilty at that point.

Reuters reports today, Ex-NY Fund Manager Slaine Pleads Guilty: >> (more…)

More Insider Trading on Wall Street?

Posted by Larry Doyle on February 1st, 2010 1:56 PM |

Profit over principle. Where does one draw the line?

I worked with some incredibly sharp individuals on Wall Street. In fact, two individuals with whom I worked were banned from casinos in Vegas because of their ability to count cards. While casinos do not appreciate card counters, I would not include that skill as a negative in my thoughts about their personal character. To be perfectly frank, both of these individuals were gracious, charitable, and professional. The overwhelming majority of those with whom I worked were also true professionals.  That said, the very nature of the Wall Street enterprise attracts an element that prioritizes profit over principle. I am reminded of that fact again today. How so?


Who Is David Slaine?

Posted by Larry Doyle on January 17th, 2010 7:45 AM |

Editor’s Note: Please see LD’s update to this fascinating story just published on Tuesday evening February 2nd at 10:02 PM.

With friends like these, who needs enemies?

I have written previously on the importance of strong relationships while working on Wall Street. While the Wall Street numbers and dollars are voluminous, ultimately Wall Street is a ‘people business.’

I have also written previously how ‘information is everything’ on Wall Street. Traders work tirelessly to determine what is moving or what will move the market. Utilizing this information, millions of dollars can be made or lost in the course of a very short time span.

Combining these two critically important factors, it should be no surprise how some will use – but then abuse – these two primary cornerstones of our financial industry.

Folllowing this line of reasoning, are you ever shocked when a guy who cheats on his wife also then cheats on his girlfriend? Where am I going with this? Let’s enter the world of David Slaine, the government’s mole in the insider trading scandal currently rocking Wall Street. (more…)

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