To Catch a Trader

Steven A Cohen

Explore the business, economy, finance and trade aspects of human society.

Moderators: Calilasseia, ADParker

To Catch a Trader

#1  Postby kennyc » Jan 09, 2014 3:02 am

Just watched Frontline - To Catch a Trader. This man is scum preying on the country and the people. ... -a-trader/

Steven Cohen Appears Oblivious to Insider Trading Law
By William D. Cohan Jan 5, 2014 6:02 PM MT 40 Comments Email Print

You’ve got to figure that if the Justice Department had the goods on Steven A. Cohen, the billionaire hedge-fund manager, we would know about it by now. For years, the U.S. has been investigating allegations that Cohen’s SAC Capital Advisors LP is little more than a sandbox for insider traders. Cohen, the ultimate prize, has so far evaded Justice’s clutches.

Still, the investigation by Preet Bharara, the U.S. attorney in Manhattan, has yielded a jackpot of wrongdoing: Six former SAC employees have pleaded guilty to securities fraud; a seventh, Michael Steinberg, was found guilty in December of five counts of securities fraud and conspiracy; and the trial of an eighth, Mathew Martoma, is set to begin Jan. 7.

Cohen agreed to settle Bharara’s long-running insider-trading investigation against the firm (as opposed to its employees) by paying a record $1.8 billion fine, most of which is likely to come out of Cohen’s pocket. The Securities and Exchange Commission has also charged Cohen with failing to supervise his employees.

All this litigation has left SAC’s reputation in tatters. It now manages only Cohen’s considerable fortune, estimated by the Bloomberg Billionaires Index at $8.7 billion (without deducting his agreed-upon fine), and no longer manages outsiders’ money. In 2008, SAC had more than $16 billion in assets. This can hardly be the future Cohen envisioned. A Frontline documentary, “To Catch a Trader,” to air Jan. 7 on PBS stations, makes clear that Cohen has no one but himself to blame.
..... ... far-future
Kenny A. Chaffin
Art Gallery - Photo Gallery - Writing&Poetry
"Strive on with Awareness" - Siddhartha Gautama
User avatar
Name: Kenny A. Chaffin
Posts: 8698

Country: U.S.A.
United States (us)
Print view this post

Ads by Google

Re: To Catch a Trader

#2  Postby GT2211 » Jan 11, 2014 6:33 am

I have turned it on as it was ending twice now. :/
gt2211: Making Ratskep Great Again!
User avatar
Posts: 3089

United States (us)
Print view this post

Return to Economics

Who is online

Users viewing this topic: No registered users and 1 guest