REPORT: SAC Capital Will Pay Over $1 Billion As Insider Trading Penalty

It shocks me why are people so surprised. This was always the case back to ancient times. Steal a loaf of bread and your hand gets cut off, still a kingdom .....

Nothing changes. The main difference now is that almost anyone can get a shot to get to the top. There is no longer a need to be born in the right family. It obviously helps, but not required.
 
Barely a footnote is 20 years time. Big money but not enough flair to be noteworthy.

Quote from Peternam:

He wanted to put down an amazing track record ?

Well, he will makes history as one of the biggest cheats in history :D
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Quote from nazzdack:

Crime does pay. :eek: :( :mad:
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It´s a perfect risk/reward ratio for criminals.

It´s the same risk/reward ratio that allows:

- currency traders in London to conduct price fixings they way "they want"
- LIBOR traders talk openly via Skype how to manipulate rates
- HFT traders to profit from stupid volume rebate rules

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Quote from CollegeTrader:

when i first started trading steve was my idol now i find out he is a crook, i heard the rumors but never thought it to be true. Such a shame
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A lot of people in this business are crooks/unethical. If you think otherwise, you are very naive.
 
Quote from RedDuke:

A lot of people in this business are crooks/unethical. If you think otherwise, you are very naive.
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So according to you Paul Tudor Jones is also a crook correct
 
"They" only get to talk to street criminals or to actors playing a criminal on Law and Order. They only get to talk to the attorney.

Quote from smallStops:

"very substantial assistance" in the FBI investigation.
I wonder which jail he was supposed to go to.
May be they talked to him about "Bubba".
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