Manhattan U.S. Attorney Preet Bharara got a major win in his crusade against insider trading today with the conviction of hedge fund honcho Raj Rajaratnam on 14 counts of conspiracy and securities fraud. Rajaratnam enriched himself to the tune of $50 million by getting tips from insiders about impending market-moving deals and acting on them illegally, the government alleged. His lawyer, John Dowd, says he’ll appeal. Bharara has charged 47 individuals with insider trading over the last year and a half, and he has won convictions in 35 of the cases. Said Bharara after the conviction today: “We will continue to pursue and prosecute those who believe they are both above the law and too smart to get caught.”
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Obama’s Persuasive Powers on Gay Marriage Manifest in Maryland
When President Obama endorsed gay marriage earlier this month, the media grappled with two basic political questions: Was his personal “evolution” a case of a politician transparently following a national trend toward accepting same-sex unions (accelerated, perhaps, by his chatty number two), and would it hurt his re-election chances by alienating socially conservative voters like black churchgoers? Sure, there was a recognition that it marked a gratifying moment for gay marriage advocates—as well as some grumbling about the President’s view that it remains a state issue, not a federal one. But by and large, there were few suggestions that one man, even the President, would shift public opinion on the issue or affect public policy. Based on a new Public Policy Polling survey out of Maryland, it seems this possibility was underestimated.
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Cherokee Zero
Apparently, Massachusetts voters don’t mind that Elizabeth Warren foolishly identified herself as a Native American early in her academic career–it was, apparently, a case of family pride and wishful thinking about a Cherokee ancestor. That’s good. Warren may be the best public figure when it comes to explaining the depredations of the financial industry and [...]
