Former Goldman Sachs Board Member Rajat Gupta Charged By SEC With Insider Trading

Tyler Durden's picture

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Cdad's picture

Proving once again that the enemy of our sad State is...

THE CRIMINAL SYNDICATE KNOWN AS WALL STREET.

Careless Whisper's picture

no way. this is a setup. goldman has the highest degree of integrity.

redpill's picture

They do God's work, you know.

Misean's picture

So, a fine of like 0.05% of his ill gotten gains, and a purchasing few choice porn site platinum memberships to be raffled off to the staff...

Cdad's picture

While your suggestion here has plenty of precedent, you fail to notice confirmation of the change in trend.  Confirmation of the complete bucket of crap we are in is coming from the precious metals market...soon to be joined by the VIX.

Things often work...until they suddenly don't.  I do believe today's price action is suggesting that the trend line on the chart of LIES is breaking, and the movement on the chart of TRUTH looks like it is forming a gap reversal.

Misean's picture

Oh, the wheels will come off the cart. But given the obtuseness of government bureaurats, I'm not holding my breath that they will be the entity to deliver karma.

velobabe's picture

ohhhhh, two times in one night, extraordinary†

LongSoupLine's picture

uh oh..."God" will not be happy.

gwar5's picture

Shocked....

When somebody sqeals on Blankfein, Geithner, or Bernanke I'll get really excited.

Didn't Geithner have some dodgy dealings as FRBNY?

disabledvet's picture

actually he testified to that effect before Congress.  He was confirmed nonetheless.  In other news "we all have hope now."

BigSkyBear's picture

Define "Dodgy"

 

8-/

TruthInSunshine's picture

Lloyd Blankfein is taking him to Scores for drinks and some dances in the VIP room, to bid him farewell on his journey to 'college,' while warning him to be very quiet.

G-R-U-N-T's picture

"Financial Terrorism Suspected in 2008 Economic Crash".  Hm....

http://www.washingtontimes.com/news/2011/feb/28/financial-terrorism-susp...

 

Judge Judy Scheinlok's picture

They are such a nice lot of people, who'd a thunk they would be among the first to be hauled off into the recesses of the US penal system. Things that make you go hmmmmmm.

Fucking Indians. They are absolute parasites!

Zero Govt's picture

SO WHAT???

Rothchild had fast Carrier Pigeons for advanced knowledge to trade on.

Order computers tap into micro-second advanced knowledge of punters orders to trade on.  

Gupta rings his buddy Rajaratnam that Buffet is buying into Goldmans to trade on.

What's the fuking difference???

Advanced knowledge is not illegal in any other business nor should it be. How about the SE scumbag C stop wasting everybodys time on this petty nonsense and go after the REAL CROOKS like Wall Street mortgage fraud and Credit Ratings Agencies???

HonestJohn's picture

Oh, they must have read Taibbi's article and found a sacrificial lamb.

MiddleMeThis's picture

My thoughts exactly.  The sacraficial lambs for the sheep that think maybe something "bad" is going on in our financial system, but don't know the full extent.  The general populace will only see this as, "look how hard the SEC works for us!"  They will never know the extent of the corruption on Wall St.  And the rest of the banksta/Wall St. criminals will remain free and living high on the hog.

SpeakerFTD's picture

Dear President Obama:

You need this.  And many more.   Even if they can't explain the details, Americans implicitly understand that they have been fleeced.  They want perp walks.  Not of a low-level scapegoats, but of directors, VPs, CEOs - big fish.  

They will still argue about all the issues, but if you can actually demonstrate that you are willing to stand up for them by giving them a perp walk every week from now to 2012, your odds of re-election go up considerably.

williambanzai7's picture

Pass the curry powder please...

velobabe's picture

just put a little on one's finger and up the hole, matey†

velobabe's picture

what the heck, does curry powder have to do with anything?

PulauHantu29's picture

"Who could have seen this coming?"

 

Does this mean he gets GS shareholders to pay his Mini-Fine so he can get back to work?

clones2's picture

Cdad - agreed...

Looks like another red day with higher than normal volume.  Lots of charts starting to roll over...

Seems like a little weaker every day...  Im thinking this is a nasty little setup shaping up.

 

 

 

Cdad's picture

Perfect confirmation so far.  Symmetry.  As Goldman goes into damage control mode, the actual gravity of the problems at JP Morgue are exponentially higher.  And despite how some GETCO like firm is currently trying to hold the 20 sma on those shares signaling hockey helmet wearing brokers at the Criminal Syndicate known as Wall Street to BTFD, it seems almost certain that the JP Morgue will join PMs and the VIX to seal the deal...which would almost certainly take down the DOW.

 

disabledvet's picture

no different from the previous...427 days of...gains...without...even...a...

Robert-Paulson's picture

Blue Horseshoe loves Anacott Steel.

disabledvet's picture

whose she?  sounds very...demure.

digalert's picture

CNBS pep squad leader Cabrerra:

"could Golden Slacks be a victim here?"

hah, GS a victim?

SilverRhino's picture

Get back to me when they've started charging the white guys in Goldman Sucks.

What does it all mean's picture

+1

 

The traders are all following directions from above...

Oh regional Indian's picture

Exactly Silver.

And wild to see so much anti-indian vitriol. I was lucky, in my 12 years in the US, to have never once been racially jibed (except at the airport by a TSA goon).

But this outsourcing business has really created a deep India hatred in the US.

Interesting, because India was set up for this role with it's english centric education, a boom in software education in the early nineties and then the very convenient, absolutely contrived and seemingly long-forgotten Y2K scare, where everyone was told that their undies would catch fire if everything was not checked. And this led to banks off-shoring all the work they said the US could not handle. And they chose their hand-picked Indian lackeys to take the business here. Ruined 3 generations of Indians so far (had to change name, like Jamal had to be Jim, changed language (accent training) and stay up nights and sleep days.

And  overpaid to boot.

Beautiful set-up eh?

After the Y2K whimper, everyone was just glad to have survived and forgot that the outsourcing tap, now open for cost-cutting was wide open. And Indian's were turned, almost overnight, into an aspirationalist, totally greedy, thoughtless, business obsessed, white obsessed people.

All morality has disappeared in these lost generations. They had their identity stripped away from them... name, speech and circadian rhythms?

You guys think this has been good for India? Please, take your call-centre jobs back. But your banking masters will not let you. Slave labour is addictive to them.

So, similarly, china was turned into the polluted, lawless factory of the world and India was turned into the always unsure pretender of a back-office boy.

All foreigners, who complain of Indian's and chinese in their countries not "mixing-in" with the local, come here and live in gated communities, drive the most expensive cars, completely tinted over, have their own over-priced shops..... they do not mix at all.

It is a really interesting thing to see all this hate here. No one can think beyond their nose of their belly. Since when have them money-men ever done anything that has been good for ANYONE? Never.

India is a lost nation. In 15 short years from the introduction of Colour TV and "The Bold And the Beautiful", India has lost it's soul.

Seriously, the American influence, in every sphere in India, has been pernicious, down to the agenda pushing NGO's, pushing male sterlization and massive vaccination drives.

Bill Gates, Mr. Polio Eradicator (Hah, we know you mr. Gates and Buffer) is here and Sarah Palin is coming as is Niall Furgueson. Full court press. Oscars, Grammys….nothing is hard for India now. Hollywood loves Indian beauties. Yes. Because now they look like American ones.

Outsourcing has ripped the fabric of Indian society at it’s solar-plexus.

And when the dollar collapses, as it will, so will this entire bloated, middle class….

There were three las vegas themed parties, with actual vegas strippers in Bangalore this new year. People look terrible in ill-suited western clothes. Now increasingly naked. That has been a shocker. Women walk around half-naked, but in Indian clothes.  Oh and our daily paper has two or three full page spreads about the rainbow revolution and greatness and okayness of gayness.

Hand-picked celebrities are being thrust everywhere. Chose an actor to speak with Billary. It has been elevated to a deified state. We know who is financing the current Bollywood. And Tollywood and kollywood. The paw-prints are everywhere.

So please, stop whining and take your jobs back at 2$ an hour and serve each other.

Any gain to India through this bargain has been a carefully crafted illusion.

Bernays would be proud.

 

It's almost as if the grounds are being prepared so most Mid-america americans will be happy if something bad happens to India/Indians.

ORI

http://aadivaahan.wordpress.com/2010/07/13/whither-india/

 

Rainman's picture

Looks like these Galleon Indians were frontrunning a whole bunch of companies...IBM, GS, PG. They are just the tip of a very, very large iceberg. The bigger inside playerz are no doubt giddy with joy that the smaller playerz got popped by the SEC. Another set of idiots used the phone. First place the snoops are going to snoop is phone records.

One camel may perish, but the caravan moves on.

disabledvet's picture

This particular "caravan" seems slightly different than say...the "Van Morrison" variant.  I'm "just not feelin' it" if you know what i mean.  Like "who took my Woodstock and turned it into P. Diddy."

I am a Man I am Forty's picture

from wikipedia

"Rajat Gupta (Hindi??? ????? ??????; born December 2, 1948) is the current special advisor on management reforms to the Secretary-General of the United Nations"


Oh regional Indian's picture

If I'm not wrong, isn't this the former Charman or Head Whatamadooda at mcKinsey and co?

Too much of a co-incidence. and if he is, this is going to dominoe out. Big time.

Those McKinsey, CFR folks, good for nothings!

ORI

http://aadivaahan.wordpress.com/2010/06/13/machine-strong-human-weak/

the rookie cynic's picture

Charges, smarges. He'll get a plea and a fine. I'll get interested if and when I see him in handcuffs.

BigSkyBear's picture

I'm with you, or better yet -

 

"Tarred & Feathered" 

 

(Think HBO Mini-Series: John Adams)

topshelfstuff's picture

does anyone check the Personal, or Front [off-shore] Traing accounts of these guys, or do we just hear about what the "Fund" did?

Trader Joe's picture

For anyone that has ever pursued a degree in engineering

Today's reported "cheating" by Galleon's proprietor and his various blow-buddies will come as NO SURPRISE 

These filthy animals are cheaters by their vary nature

Judge Judy Scheinlok's picture

You are too kind TJ. Their very DNA character traits are bound with the filth and swallor that defines their homeland.

There was a very clever engineer that use to post on various topics here on ZH.

He is in the process of creating a machine that generates shock waves that use high orders of gravitational force in order to liquefy flesh and bones. The liquid paste is then put through a centrifuge to separate out carbon and the carbon is then bound to hydrogen and other liquid organic compounds creating..... Cheap salable energy products for locomotion.

Carbon 83 to 87%
Hydrogen 10 to 14%
Nitrogen 0.1 to 2%
Oxygen 0.1 to 1.5%
Sulfur 0.5 to .6%

It is a DARPA project.

ThisIsBob's picture

So Blankfein calls his outside directors and tells them that Goldman is going to beat, and he thinks that information is going nowhere?

Right.

SRV - ES339's picture

... wake me up when someone responsible for the "culture" of fraud and corruption on Wall Street is locked up... this guy was a Director who sat on audit, compensation, and corporate culture committees... he's also Chairman of the International Chamber of Commerce (buying legislators around the world to further "gods work")...

CNBC panel discussion moved to possible negative impact this lone wolf might have on Goldman's squeaky clean image... took about 60 secs... also, the usual "please remember these are not criminal charges" B/S didn't take long

CNBC just cut away from Bernank... he was being asked to defend the practice of buying back treasuries from primary dealers just weeks after the original purchase... oops, can't have that on air

Cdad's picture

They used to say about the Clinton administration that there was an established, "Culture of corruption."  Looking back, that culture pales in comparison to the criminal syndicate known as Wall Street.

And whatever the closing mark of the S&P turns out to be today, what is happening is the revelation that there is nothing here to have confidence in...for the players involved. 

Two years of HFT magic trying to once again establish market credibility for the sheeple...down the drain.  And for an illegal trade netting 13 mil.  Nice.

 

Joe Davola's picture

Was that wrong? Should I have not done that? I tell you I gotta plead ingnorance on this thing because if anyone had said anything to me at all when I first started here that that sort of thing was frowned upon, you know, cause I've worked in a lot of offices and I tell you people do that all the time.

disabledvet's picture

The "Madoff defense" perhaps?  "How come I got caught and all those others got away with it"?  Tough sell in this climate--although the g-man picks his targets well so I wouldn't "sell this one short" shall we say.  I find it interesting that insider trading is being prosecuted at all.  At a certain level "you'd have to arrest 8 million of them."  In further news "Iran prosecutes media crimes."