Reply With Quotechristiefan915 (03-29-2011)
the wealthy are different, they think that the rules do not apply to them
just a little harmless fun to their way of thinking
Jury hears giggles on tapes of NY finance's elite
Associated Press/AP Online
By LARRY NEUMEISTER NEW YORK - The jury at the insider-trading trial of a wealthy hedge fund founder listened Thursday to giggle-laced audio tapes of phone conversations that demonstrated his playful relationship with a then-top Intel Corp. executive who admits giving him lucrative secrets.
"My kids are making fun of me the way I talk to you," ex-Intel executive Rajiv Goel is heard saying in a taped conversation on March 20, 2008.
"What?" responds Raj Rajaratnam, a then-billion-dollar hedge fund founder who commanded respect on Wall Street and from friends including Goel, who was privy to the chipmaker's strategic plans as its director of strategic investments at Intel Capital, its investment arm.
Goel escaped the laughs of his children by walking outside to continue his conversation with Rajaratnam. This time, only Goel's laughs are heard.
"They are laughing at the way I talk to you because I talk slo- ... slo- ... softly," Goel is heard saying through chuckles to Rajaratnam, whom he met in the early 1980s when they were students at the University of Pennsylvania's prestigious Wharton School.
Then, Goel got right to business, saying "So, did you, uh ... digest the information I gave you?"
And the pair launched a conversation about Intel's investment plans for a wireless venture involving a wireless company, Clearwire, and various other companies.
To prosecutors, the conversations are more evidence in a case they are building against Rajaratnam, who built the Galleon Group into a nearly $7 billion hedge fund before his October 2009 arrest on insider-trading charges forced its demise. Goel, also arrested in 2009, has pleaded guilty in a cooperation deal aimed at sentencing leniency.
Prosecutors say Rajaratnam, who was born in Sri Lanka, made more than $50 million through illegal trades based on secrets he gleaned from others in the hedge fund business and insiders at public companies. Nineteen of the more than two dozen people arrested in the largest insider-trading case ever brought in the hedge fund industry have pleaded guilty.
Rajaratnam's lawyers say he never traded on information that was not already public.
The government introduced another taped conversation in which Goel fawns over Rajaratnam, saying things like, "I just called to say you're a good man."
Then Goel can be heard chuckling as he adds: "I mean, you know, I don't know of too many people like you."
It wasn't all laughs in the courtroom Thursday, though. Prosecutors also played taped conversations between Rajaratnam and his younger brother, Rengan Rajaratnam, who worked at Galleon before running his own fund. The younger brother has not been charged with any crimes.
In one conversation, Rengan Rajaratnam is heard cursing as he describes seeing information about Clearwire published in The Wall Street Journal.
"They're short on details, but they kind of say, you know, they're looking to raise as much as 3 billion, but they don't have any of the equity split," Rengan Rajaratnam is heard saying.
In testimony, prosecutors asked Goel if the information he told Raj Rajaratnam about Clearwire was confidential.
"It was confidential information, sir," he answered.
On cross-examination, Goel was asked if he talked about 100 times a year with Rajaratnam and if Rajaratnam vacationed with him twice and gave him money toward a home down payment.
"He helped me," Goel said.
About his conversations, he said: "I would talk very freely with him."
But he spoke of the friendship in the past tense when he was asked if Rajaratnam was a good friend.
"At that time, yes, sir, he was," Goel said.
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come dance w Jak o the shadows
freedoms just another word for nothing left to lose
first there was the leg race then the arms race and now the brain race
all animals are created equal - G. Orwell
some animals are more equal that others - SCOTUS
christiefan915 (03-29-2011)
Yes the list is long on democrats who are above paying taxes.
Charlie Rangel
John Kerry
Claire McCaskill
Timothy Geithner
Rahm Emanuel
Tom Daschle
i've never understood this obsession by some on the left to paint the wealthy as the only group who thinks they above the law or that the "rules" don't apply to them....those people who believe that way exist in every single income bracket. apparently, some on the left just have income or money envy and must paint those with more toys than them as evil.
callinectes (03-27-2011)
No they just think that they can buy the law. Most of the time they can...
Schadenfreude (03-28-2011), Topspin (03-29-2011)
perhaps i should have titled this the wealthy and powerful
come dance w Jak o the shadows
freedoms just another word for nothing left to lose
first there was the leg race then the arms race and now the brain race
all animals are created equal - G. Orwell
some animals are more equal that others - SCOTUS
It amazes me how some automatically respond by defending illegal behavior with poltical crap like yurt did.
If a poor man steals he needs to be thrown in prison and if a powerful and rich man steals BIG TIME he is just being human.
Poor people cant steal at the level that people like this guy can.
This guy did way more damage to way more people than most poor thiefs could even dream of.
I wish there was no faction in this country that saw the wealthy and powerful as better people because of their wealth and power.
christiefan915 (03-29-2011), Schadenfreude (03-29-2011)
Sorry but people are always going to be intrigued with fame, wealth and power.Originally Posted by evince
You left out...."because you say so." It appears that most of your claims require the willing suspension of disbelief and substitute uninformed OPINION for the FACTS.No they just think that they can buy the law. Most of the time they can...
and that excuses it how?
come dance w Jak o the shadows
freedoms just another word for nothing left to lose
first there was the leg race then the arms race and now the brain race
all animals are created equal - G. Orwell
some animals are more equal that others - SCOTUS
what universe are you from
come dance w Jak o the shadows
freedoms just another word for nothing left to lose
first there was the leg race then the arms race and now the brain race
all animals are created equal - G. Orwell
some animals are more equal that others - SCOTUS
Why does one want to be rich?No they just think that they can buy the law. Most of the time they can...
1. Power
2. Power
3. Power.
Power own the livelihoods of others. Power to join the nasty little clubs that exist only for the rich, and power to manipulate the law, change the law and if neither is possible to ignore the law.
The Freemasons, as I have said before, consist of the rich and powerful (I am not referring to the simple minded foot soldiers who think the occasional crumb will fall from the ever laden table of the senior levels). The freemasons consist in large part, of the judiciary and the rich. In the UK and here and probably in the US the law is fashioned and upheld by freemasons.
Next time you find yourself in court on traffic or whatever offence, ask the judge or magistrate if he/she is a member of the Freemasons. Only one answer will suffice and that is 'No'. Anything else, anything at all, means that the incumbent is a mason. IF the defendant in your case, or the Plaintiff if you are defending is a freemason, you must make a formal objection and demand, by whichever law is available to you, trial by another court.
It is also a good idea, if there are press present, to ensure that they know why you raise the question. And what's the betting that the editor will stamp on any report as he would a cockroach. Because he will also be a mason.
And people ask why demonstrations turn violent!
http://www.justplainpolitics.com/blog.php?u=237
If you feel so inclined a comment would be appreciated.
Respect a believers right to believe, but they should damn well repect our right to challenge such utterly illogical notions.
It parallels the list of corporate tax evaders.
1) Exxon Mobil made $19 billion in profits in 2009. Exxon not only paid no federal income taxes, it actually received a $156 million rebate from the IRS, according to its SEC filings.
2) Bank of America received a $1.9 billion tax refund from the IRS last year, although it made $4.4 billion in profits and received a bailout from the Federal Reserve and the Treasury Department of nearly $1 trillion.
3) Over the past five years, while General Electric made $26 billion in profits in the United States, it received a $4.1 billion refund from the IRS.
4) Chevron received a $19 million refund from the IRS last year after it made $10 billion in profits in 2009.
5) Boeing, which received a $30 billion contract from the Pentagon to build 179 airborne tankers, got a $124 million refund from the IRS last year.
6) Valero Energy, the 25th largest company in America with $68 billion in sales last year received a $157 million tax refund check from the IRS and, over the past three years, it received a $134 million tax break from the oil and gas manufacturing tax deduction.
7) Goldman Sachs in 2008 only paid 1.1 percent of its income in taxes even though it earned a profit of $2.3 billion and received an almost $800 billion from the Federal Reserve and U.S. Treasury Department.
8) Citigroup last year made more than $4 billion in profits but paid no federal income taxes. It received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury.
9) ConocoPhillips, the fifth largest oil company in the United States, made $16 billion in profits from 2007 through 2009, but received $451 million in tax breaks through the oil and gas manufacturing deduction.
10) Over the past five years, Carnival Cruise Lines made more than $11 billion in profits, but its federal income tax rate during those years was just 1.1 percent.
http://blogs.suntimes.com/sweet/2011...s_avoidin.html
we know schad is poor!!!
Rich people know, not think
I got somthin makes me want to shout, I got soul "I'm super bad"
not poor, just middle class
we own 2 3/5 houses - renting out two of them
between that and SS, we are doing OK
not rich but OK
come dance w Jak o the shadows
freedoms just another word for nothing left to lose
first there was the leg race then the arms race and now the brain race
all animals are created equal - G. Orwell
some animals are more equal that others - SCOTUS
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