Federal prosecutors are expected to file criminal charges on Wednesday against Rajat K. Gupta, the most prominent business executive ensnared in an aggressive insider trading investigation, according to people briefed on the case.
The case against Mr. Gupta, 62, who is expected to surrender to F.B.I. agents on Wednesday, would extend the reach of the government’s inquiry into America’s most prestigious corporate boardrooms. Most of the defendants charged with insider trading over the last two years have plied their trade exclusively on Wall Street.Sure enough, go to opensecrets.org, and search for who Rajat Gupta gives money to, and what a surprise!
| Contributor | Occupation | Date | Amount | Recipient |
|---|---|---|---|---|
| GUPTA, RAJAT WESTPORT,CT 06880 | MCKINSEY & CO/SENIOR PARTNER | 10/5/06 | $2,100 | Dodd, Chris (D) |
| GUPTA, RAJAT STAMFORD,CT 06901 | MCKINSEY/DIRECTOR | 2/18/04 | $2,000 | Khanna, Rohit (D) |
| GUPTA, RAJAT WESTPORT,CT 06880 | MCKINSEY & COMPANY | 5/11/00 | $1,000 | Clinton, Hillary Rodham (D) |
| GUPTA, RAJAT WESTPORT,CT 06880 | MCKINSEY & CO./MANAGING DIRECTOR | 3/20/02 | $1,000 | Pressler, Larry (R) |
| Gupta, Rajat K Westport,CT 06880 | McKinsey & Company Inc./Management | 8/2/04 | $23,000 | DNC Services Corp (D) |
| GUPTA, RAJAT K WESTPORT,CT 06880 | MCKINSEY & CO./EXECUTIVE | 12/30/05 | $10,000 | Democratic Congressional Campaign Cmte (D) |
| GUPTA, RAJAT K WESTPORT,CT 06880 | MCKINSEY & CO./EXECUTIVE | 11/5/06 | $10,000 | Democratic Congressional Campaign Cmte (D) |
| GUPTA, RAJAT K WESTPORT,CT 06880 | MCKINSEY AND CO./DIRECTOR | 3/27/06 | $2,100 | Farrell, Diane Goss (D) |
| GUPTA, RAJAT K WESTPORT,CT 06880 | MCKINSEY AND CO./DIRECTOR | 3/27/06 | $2,100 | Farrell, Diane Goss (D) |
| Gupta, Rajat K Westport,CT | McKinsey & Company Inc. | 8/2/04 | $2,000 | Kerry, John (D) |
| GUPTA, RAJAT KUMAR CHICAGO,IL 60603 | MCKINSEY & CO./MANAGING DIRECTOR | 11/9/00 | $1,000 | Gore, Al (D) |
| GUPTA, RAJAT KUMAR CHICAGO,IL 60603 | MCKINSEY & COMPANY | 6/5/90 | $1,000 | Bradley, Bill (D) |
| GUPTA, RAJAT KUMAR CHICAGO,IL 60603 | MCKINSEY & COMPANY | 6/5/90 | $1,000 | Bradley, Bill (D) |
| GUPTA, RAJAT MR WESTPORT,CT 06880 | MCKINSEY & COMPANY INC./MANAGING DI | 12/18/01 | $1,000 | Barve, Kumar P (D) |
| GUPTA, RAJAT MR CHICAGO,IL 60603 | MCKINSEY & CO./CONSULTANT | 3/19/99 | $1,000 | Bradley, Bill (D) |
It isn't only traders. Have a look at the GAO report on conflicts of interests with members the Federal Reserve Board of Governors. Notice the names mentioned. Then look at the Open Secrets list of top 20 Obama campaign donors.
ReplyDeleteThe governors who had outside employment with firms that directly benefited from Fed actions were with firms that were major Obama supporters.
http://www.opensecrets.org/pres08/contrib.php?cid=N00009638
Thank Heavens he gave a grand to Pressler back in 2002. Now the MSM can report that he's a bipartisan donor!
ReplyDeleteThe depth of the criminal behavior is evidence these people are fundamentally amoral.
ReplyDeleteThey do not give money to Democrats out of any deep held affiliation with Democrat party principles. They do so either in direct furtherance of their corruption, ie. pure influence purchases; or as a form of penance, in a misguided belief, drawn from their twisted moral compasses, that the Democrats somehow represent the 'good' side of politics.
But my money is on the former more than the latter.
He ought to be put in jail with the meanest, biggest sob's we can find. He, and anyone else engaged in similar activities, must suffer the consequences of breaking the law.
ReplyDeleteLeveraged finance fueled by cheap credit: that's the connection between the Democratic Party and Wall Street. The Democrats have been the party of cheap credit and fiat money for over a century.
ReplyDeleteFunny: it's supposed to help the "little guy" with cheap mortgages, student loans, and the like -- and it does, for a while. But eventually the "little people" go bankrupt or have to pay it all back. The "big people" make the appropriate large campaign contributions and get bailed out. Of course, the ultimate purpose is monetizing government debt, in the meantime handled by well-paid bond traders. Time we think again about a gold standard.
The tragedy of cheap-money populism.