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Posts Tagged ‘Steven A Cohen’

SAC Capital: Most Likely Done

Posted by Larry Doyle on July 26th, 2013 8:03 AM |

This past March two affiliated entities of Wall Street’s largest hedge fund whale, Steven A. Cohen, forked over a cool $616 million in fines to the SEC to settle insider trading allegations.

At the time, the firm tried to put the typical spin on this situation and offered that it was continuing to assist with the ongoing investigation. My gut instincts tell me that both Cohen and the firm believed that the $600+ million was the “stay out of jail” card for Cohen himself and the green light for the firm to continue business. Two months later, the “can’t we all be friends” approach took a dramatic change as SAC said that it would no longer cooperate.

Fast forward another two months and this week we witness an indictment of the firm, although not of Cohen himself. (Come on, paying $600 million has to get you something, right?) (more…)

“Stevie Boy” Cohen: Too Big to Prosecute?

Posted by Larry Doyle on March 18th, 2013 11:52 AM |

News released late Friday afternoon that the SEC has agreed to a settlement of $616 million with entities connected to SAC Capital is viewed as another indication that our financial police are playing hardball, right?

I mean $616 million is a lot of money, correct? Yes and no. Money is relative and playing hardball is in the eye of the beholder.

Did SAC and its founder Steven A. Cohen, aka “Stevie Boy” Cohen, just enter the realm of Goldman Sachs, JP Morgan, and the other heavyweights on Wall Street who have been defined as “too big to fail, to regulate, and to prosecute?”¬† (more…)

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