If you close your eyes for a minute, you can feel the fear and panic seeping out of Wall Street. The panic is heavy and thick like that cheap syrup you buy at the grocery store (to give you a visual). “U.S. officials are preparing insider trading charges against a host of financial players, including investment bankers and hedge fund managers (read U.S. Preparing Sweeping Insider-Trading Chargers: Report). The Wall Street Journal first reported the rumors of insider trading charges on Wall Street, and they cited people familiar with the situation.
If the rumors are true, and it appears they are, the charges against a host of ‘big financial players’ could be huge for America. The investigations could “expose a culture of pervasive insider trading in U.S. financial markets”, and could redefine how private information is ‘traded’ throughout Wall Street.
Wall Street is ‘humming’ with the news of insider trading charges, and two lawyers have spoken to Reuters about representing their Wall Street clients. The lawyers said the FBI had “approached hedge fund traders over the past two weeks and a number of traders had contacted lawyers” (see above source).
What’s going to happen to Wall Street? Do the U.S. authorities have the integrity to fight against those doing God’s work? (read I’m doing ‘God’s work’. Meet Mr Goldman Sachs). America waits while eating corn chips and cheesy macaroni. Stay tuned, everybody.
For more on Wall Street, (particularly Goldman Sachs, check out the articles below):
2010: The Best Year to Die ( read )
Goldman Sachs CEO to Play Guitar at Homeless Shelters ( read )
Corporate Profits Near Historic in Second Quarter; The Betrayal of the American Worker ( read )