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| The Backhander or Kick-back Traditional Chinese "His Rice Bowl" |
"The level of panic of those demanding your resignation will only increase, as investors that once had privy to lucrative inside market information, pressure and lose faith in the actors in this vicious cycle of corruption that has been going on for the last twenty-five years."
"Trillions of dollars invested in Domestic Surveillance to watch Billions of Invisible People; raped by their own representatives is a ridiculous notion which manifested into reality as "Top Secret America" by those of Public Trust that hold leadership positions in Congress and the Senate."
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Prosecute Texas Perry Bush GOP Covert Ops
http://www.burntorangereport.com/diary/12391/bringing-down-the-republican-house
http://www.burntorangereport.com/diary/12391/bringing-down-the-republican-house
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| Up Against The Wall! Wall Street |
By Andrew Tangel
November 4, 2013, 6:04 p.m.
November 4, 2013, 6:04 p.m.
NEW YORK — Steven A. Cohen faces what could be an end to his career as one of Wall Street's most profitable money men after his hedge fund agreed to plead guilty to charges of criminal insider trading.
SAC Capital Advisors becomes the first major financial firm in a generation to admit criminal conduct and agreed to pay a record $1.2 billion in penalties. The government's dogged pursuit of Cohen's hedge fund essentially puts the company out of the business of managing money for outside investors.
Although prosecutors stopped short of charging Cohen himself, his fund's guilty plea — announced Monday in New York — marks a stunning reversal of fortune for one of Wall Street's most successful stars. He may still be able to manage his own money in the fund.
"This guy was a titan," said Dominic Auld, a securities lawyer at Labaton Sucharow in New York. "That reputation is now utterly in tatters, whether or not they get him."
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