Another point for the SEC: Alleged Insider Trading at Goldman
This story just keeps on giving. When I think it is all going to go away and be peaceful, something else happens. Now there is insider trading going on during the Goldman. If anything this is only going to get bigger as the call for regulation gets louder leading up to an eventual vote on Dodd's bill. Via MarketWatch:
The Wall Street Journal, citing a person close to the situation, said Goldman Director Rajat Gupta gave Raj Rajaratnam, head of the Galleon Group hedge fund, advance notice of the deal.
In the days before the investment, Goldman's stock had fallen more than 40% and reached $86 a share on Sept. 18. On the day the deal was announced, on Sept 23, the stock was at $125 a share. Shares of Goldman closed at $159.05 each on Thursday.