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An America drowning in red ink is the land of the free no more
Topic - Rajat Gupta
U.S. banks are enjoying their best profits in six years and are lending a bit more freely. The gradual improvement suggests that the industry will sustain its healing from the worst financial crisis in decades and help strengthen the economy.
A former Goldman Sachs and Procter & Gamble Co. board member was sentenced to two years in prison Wednesday, culminating a spectacular fall from grace for a man who retained support from prominent business and civic leaders even after he was convicted of feeding inside information about board dealings to a billionaire hedge fund owner who was his friend.
A former Goldman Sachs director was found guilty Friday of feeding confidential information to a corrupt hedge fund manager, becoming the most prominent defendant convicted so far in a wide-ranging probe conducted by investigators armed with wiretaps.
Ten passengers filed a lawsuit Wednesday against JetBlue Airways, claiming they feared for their lives when a pilot had to be physically restrained after running through the cabin yelling about Jesus and al Qaeda during a New York-to-Las Vegas flight in March.
The July 29, 2008, phone call between two titans of Wall Street began with the old friends exchanging mild pleasantries, but then quickly turned serious and - by the government's account - criminal.
A former board member of Goldman Sachs and Procter & Gamble became the most prominent business executive arrested in the biggest insider-trading case in history when a securities fraud indictment was unsealed against him Wednesday.
A former Goldman Sachs board member surrendered to federal authorities Wednesday to face criminal charges stemming from a massive hedge-fund insider-trading case.
former Wall Street titan was convicted Wednesday of making a fortune by coaxing a crew of corporate tipsters into giving him an illegal edge on blockbuster trades in technology and other stocks — what prosecutors called the largest insider trading case ever involving hedge funds.
Federal regulators have charged a former Goldman Sachs board member with insider trading, saying he provided confidential information to the central figure in a major hedge fund probe.
Reading from a statement, he said, "I regret terribly the impact of this matter on my family, my friends and the institutions that are dear to me. I've lost my reputation I built for a lifetime. The verdict was devastating."
"I sometimes wondered whether Raj Rajaratnam was the man on trial," he said.