Samberg got away (under the SECs catch & release program) . Cassano remains unindicted (where does one start? ummm asset freezes, tar & feathering, for starters?). Martha Stewart got spanked (hard), but little more. Innumerable traders, hedge fund managers, even entire mutual fund groups use dubious weight-of-money strategies, subvert the market by goosing the marks of existing positions - monthly, quarterly, annually, while corporations continue to surf the line of the ethical to hit numbers, subvert competition - in vain attempts to emulate Raj, or just make a few extra bucks to keep the balls of an unsustainable way of life in the air. The system is built upon it. However, mark my words: rooting out less-than-salubrious market behaviour will promote entropy and make the market more efficient to the long-term benefit of the greater good. But before big-swinging over-zealous shorts start, as Harvey Keitel warned as "The Cleaner" in Pulp Fiction, s*ckin;' each others' d*cks", they should take heed that entropy works both ways, and those who employ similar tactics should similarly be culpable (were I Sheriff).
But the most incredulous thing I read in the article was:
“My client is shocked and distraught,” said Kerry Lawrence, Moffat’s lawyer, in an interview in court today. He said his client learned only this morning of the U.S. investigation.Yes, I am shocked that you're shocked. A Fraud. A Cheat. Call him (and especially Raj, who to his small credit issued no statement of being "shocked") what you will. Or wait til after the trial or plea-bargain and then throw mud. Next, use your imagination to extrapolate across The Street where even the cornerstone - "plausible deniability" - has seemingly been flaunted of late. But however you look at news of Raj's outing, it is a good day for honesty. Integrity may just have rallied a touch.