Is the PE industry any more ethical than the universal banks?
Ever since Mitt Romney failed to make the economic case for private equity during the last presidential campaign, PE’s public image has been battered even further.
Risks his $15 billion hedge fund to avoid a huge loss
They were SAC Capital’s largest equity positions when Stevie Cohen sold $700 million and shorted $260 million of Elan and Wyeth stock in July 2008, just before the two pharmaceutical companies announced disappointing results in the Phase II clinical trial of bapineuzumab, their jointly-developed Alzheimer’s drug.
SEC trying to turn financial crisis poster boy into sacrificial lamb
Next week, Fabrice Tourre goes on trial for securities fraud.
Tourre, now 34, is the former Goldman Sachs investment banker who, in 2007, packaged and peddled a synthetic portfolio of sub-prime residential mortgage-backed securities (RMBS) that collapsed within nine months of its issuance.
If he prevails, Rajat Gupta could become Wall Street’s ‘O.J. Simpson’
Of all the Wall Street players U.S. attorney Preet Bahara has nabbed for insider trading in the last four years, Rajat Gupta has got to be the most improbable.