A notorious hedge fund manager found guilty of the most blatant insider securities trading since the Reagan Era was sentenced to 11 years in federal prison today, which experts hope will "calm everyone the fuck down and maybe stop this revolution." But the fat, diabetic billionaire's mild prison sentence for his organized crime spree and $72 million in theft will probably just enrage everybody further -- including millions of angry, jobless Americans who have never heard of Raj Rajaratnam before today.
No, he buys option contracts, from people who don't know the stock is about to take off. He gets their shares cheap, and they miss out on the gains.
You don't make billions buying and selling actual shares, unless you're Warren Buffett.
I'm too lazy and stupid (I blame TV) to read the story so I'll just ask the question. What happened to all the money he stole? A golden parachute for after he's released or did he spend it all on lawyers trying to save his ass or did his victims get something back?
No, he buys option contracts, from people who don't know the stock is about to take off. He gets their shares cheap, and they miss out on the gains.
You don't make billions buying and selling actual shares, unless you're Warren Buffett.
Almost all.
yes but i'm immature enough to be delighted.
I'm too lazy and stupid (I blame TV) to read the story so I'll just ask the question. What happened to all the money he stole? A golden parachute for after he's released or did he spend it all on lawyers trying to save his ass or did his victims get something back?
too bad he didn't get a blow job in a new york hotel room.
And his brother in subcutaneous fat - Chris Christie.
It's because he's not white that he got sentenced that long.
FWIW, the people who fed him inside info are also being prosecuted.
What the pitchfork-wielding rabble <b>really</b> want to know is, Will they take away his billions?
A move that is sure to send a chill throughout the hedge fund tycoon community.
What I want to know is, how many jobs did he create, thanks to the laughable 15% tax rate he paid on his hedge-fund earnings?
He starts in exactly 11 years.
The prosecutor wisely took note of the fact that &quot;assauting the free market&quot; is a serious crime these days.
He&#039;d have gotten 30 days, with time off for good behavior, for merely fucking over the rest of America, to the tune of maybe $10 per citizen.