03-29-2013, 10:19 AM
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#5
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still says videotape
Join Date: Feb 2001
Posts: 26,813
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Our system of justice seems pretty upside down when a quadriplegic essentially gets the death penalty for dope and Steven Cohen goes free.
Last November, Preet Bharara, the U.S. Attorney for the Southern District of New York, held a press conference to announce the indictment of Matthew Martoma, a former SAC trader, for what Bharara said was “the most lucrative insider-trading scheme ever charged.” According to the complaint, the 2008 trades at the center of the case involved Cohen directly. After receiving at tip-off from an inside informant about a drug trial that had turned out badly, Martoma spoke for twenty minutes with Cohen—identified as “Portfolio Manager A”—and then started unloading shares that SAC owned in the two drug companies involved, Elan and Wyeth, the complaint said. Once the results of the drug trial became public, the stock prices of the drug companies fell sharply. The government said that Martoma’s trades netted SAC as much as two hundred and seventy-six million dollars.
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If you would only recognize that life is hard, things would be so much easier for you.
- Louis D. Brandeis
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