yoda Posted November 1, 2011 Posted November 1, 2011 So his entire business is based on getting insider information, but he leaves it up to the provider to decide whether it is insider or not. I find it hard to believe that he didn't know that the information he got were illegal. Looks like he just expected people to keep quiet and hope not to get caught. Sad story indeed.
coffee_rules Posted November 1, 2011 Posted November 1, 2011 He's playing the victim once caught. He should perfectly know what is insider information and what is not. If Rajat is guilty, he should go down too.
Mariyam Posted November 1, 2011 Posted November 1, 2011 A good read on why Raj didn't take a plea. http://www.thedailybeast.com/newsweek/2011/10/23/exclusive-raj-rajaratnam-reveals-why-he-didn-t-take-a-plea.html Pathetic stuff from Suketu Mehta. What was he even trying to convey? Raj is guilty. Period. That he didn't know what insider trading is, that too after managing a hedge fund for most of his working life is just incredulous. Its as believable as Hitler saying he didn't know what/who Jews are after carrying out the holocaust. Instead of passing of generalized comments like " The whole story speaks to the South Asian American community: its pursuit of success and money at any cost; the differences between immigrants and the first generation; and the immigrants incomplete understanding of the rigor of the law in the U.S" Suketu should understand that there needn't be any honour among thieves. If they Rajat and the others spoke out on Raj, its because they realized that if they squealed they can/could get away lightly.
Mariyam Posted November 1, 2011 Posted November 1, 2011 Very interesting...How greed has ruined all of them:(( What's sad is these are very common occurances here in India, yet no one gets punished..Speaks a volume about the difference between their and our society. Wish out justice system was as strong as US or UK's. No one gets punished because there isn't any evidence at all to nail people in such cases. Earlier in this thread, I posted a drama. Go through it. Its based on a real life case. Also, its not a question of societal difference or our justice system being strong or not. These crimes are newer, the people who commit them ( insider trading) are at the top echelons of the corporate power structure and always a few steps ahead. Eventually, the law will learn/adapt to tackle such cases of crime too. What makes getting convictions in India more difficult is that so much of the trading is done by middle men that it doesn't leave any trail of money.
Raghav_12 Posted November 1, 2011 Posted November 1, 2011 Pathetic stuff from Suketu Mehta. What was he even trying to convey? Raj is guilty. Period. That he didn't know what insider trading is, that too after managing a hedge fund for most of his working life is just incredulous. Its as believable as Hitler saying he didn't know what/who Jews are after carrying out the holocaust. Instead of passing of generalized comments like " The whole story speaks to the South Asian American community: its pursuit of success and money at any cost; the differences between immigrants and the first generation; and the immigrants incomplete understanding of the rigor of the law in the U.S" Suketu should understand that there needn't be any honour among thieves. If they Rajat and the others spoke out on Raj, its because they realized that if they squealed they can/could get away lightly. Article is way too sympathetic for Raj Ratnam but has been written well. Title of article itself declares this being RajRatnam's viewpoint.
The Outsider Posted November 2, 2011 Posted November 2, 2011 Saying Rajaratnam did not know what insider trading is, is like Mohammed Amir saying he does not know what a no ball is. Here is a list of 108 insider trading convictions from the last 20 years : http://online.wsj.com/article/SB10001424052970203914304576629053026510350.html For those whining about brown people being targeted, care to list how many subcontinental names do you see there - I can count around 1 or 2? Given the number of professionals of subcontinental origin on Wall Street, I would say they are having it pretty good percentage wise. Playing the victim card mentality is not a unique trait just among Pakis.
EnterTheVoid Posted November 2, 2011 Posted November 2, 2011 Do the crime, do the time. Simple as that. No sympathy for these criminals.
Sachin=GOD Posted November 4, 2011 Posted November 4, 2011 Don't defend, but don't denigrate Rajat Gupta either The article has been co-authored by Analjit Singh , chairman of the Max India Group; Pramath Sinha , founder and managing director of 9.9 Mediaworx; Savita Mahajan , deputy dean and CEO (Mohali campus) of the Indian School of Business; and Vijay Mahajan , chairman of the Basix Group. As people who have known and worked closely with Rajat Gupta, over varying periods of time, ranging from 10 to 40 years, we have been following very keenly the developments around his recent arrest. We are pained and saddened by the charges levelled against him. It is hard to imagine that somebody as mild-mannered and humble as Rajat could have engaged in any criminal activity. But what has pained us even more, as we have read the views of 'eminent people' and watched the debates on TV, is the viciousness with which people have lashed out at him, and the vicarious pleasure they seem to derive as they discuss and dissect his actions and motivations. Suddenly, nothing the man ever did or achieved in his life is held respectable or valuable. Everything about his work and character, as we have known it so far, is being rubbished and ulterior motives are being attributed to every good deed that he has done. The list of his accomplishments , as a highly-respected professional, is well known, and we are not going to recount it here. What is less well known though , is the enormous amount of time and energy he has spent in recent years on philanthropic efforts and in promoting public-private partnerships to make delivery of public services more effective. We have known him to spend all his waking hours, from 6:00 am to midnight, reaching out to people around the globe, in face-to-face meetings or over the phone, to build a coalition of supporters for creating world-class institutions in areas as diverse as management education, public heal th, urban development and eradication of chronic diseases. He helped establish institutions such as the ISB, Public Health Foundation of India (PHFI), the America India Foundation (AIF). He worked with the Gates Foundation and the Clinton Foundation in their efforts for the eradication of AIDS and malaria, not only in India but in far-flung corners of remote Africa. Nothing he conceived of was small in imagination or impact. His ability to bring people together for a cause and motivate them to achieve the impossible, is truly awe inspiring . And he did all this quietly, without putting himself in the limelight or promoting a larger-than-life image of himself , as many other people in similar positions are wont to do. Not quite the profile of a man whose only motivation is to become a billionaire! Our intention is not to defend , or offer a view on charges levelled against him. But we find it unfair and unacceptable that as a people, we should negate all the past good that a man has done and suddenly discover that we always knew that he was a 'rogue' , and 'deserves' this fall from grace. We find it sad that wise, grown-up people should, in full public view, behave like five-year olds, who would clap their hands and mock one from among their group who has tripped and fallen. Economic Times
ravishingravi Posted November 4, 2011 Posted November 4, 2011 Saying Rajaratnam did not know what insider trading is, is like Mohammed Amir saying he does not know what a no ball is. Here is a list of 108 insider trading convictions from the last 20 years : http://online.wsj.com/article/SB10001424052970203914304576629053026510350.html For those whining about brown people being targeted, care to list how many subcontinental names do you see there - I can count around 1 or 2? Given the number of professionals of subcontinental origin on Wall Street, I would say they are having it pretty good percentage wise. Playing the victim card mentality is not a unique trait just among Pakis. Nailed it !
Mariyam Posted November 5, 2011 Posted November 5, 2011 Article is way too sympathetic for Raj Ratnam but has been written well. Title of article itself declares this being RajRatnam's viewpoint. Yes, the article is rather too sympathetic towards Raj Ratnam's POV. The part that doesn't go down with me is that the writer has nothing to say about Raj Ratnam trading with inside information in the first place, but seems more upset that his accomplices in the crime back-stabbed him to testify against him. And another gem from that article, which got me :mad: and :hysterical: at the same time: Wodehouse is beloved all over South Asia because his comic novels demonstrate that the former colonial masters were ... silly What rubbish. I wonder if Suketu Mehta has ever read PGW.
Raghav_12 Posted November 5, 2011 Posted November 5, 2011 Yes' date=' the article is rather [i']too sympathetic towards Raj Ratnam's POV. The part that doesn't go down with me is that the writer has nothing to say about Raj Ratnam trading with inside information in the first place, but seems more upset that his accomplices in the crime back-stabbed him to testify against him. And another gem from that article, which got me :mad: and :hysterical: at the same time: What rubbish. I wonder if Suketu Mehta has ever read PGW. Some other pieces which I found offensive are The whole story speaks to the South Asianˢmerican community: its pursuit of success and money at any cost; The Rajaratnam case can be seen as a metaphor of the difference between immigrants from South Asia, who have a more elastic view of rules These statements may be correct for many south Asians, but to paint every single south asians from same brush is very incorrect politically and in reality too.
punjabi_khota Posted June 15, 2012 Author Posted June 15, 2012 Bump. He is found guilty. Faces upto 60 yrs in prison. http://money.cnn.com/2012/06/15/news/companies/gupta-verdict/index.htm?hpt=hp_t2
Aaku Posted June 15, 2012 Posted June 15, 2012 ye ek desi fraud hai aaakhirkaar desi fraud hi nikla :clap:
Ram Posted June 15, 2012 Posted June 15, 2012 So ironical to see one high-profile Indian American's (Rajat Gupta) reputation being torn to bits by another Indian American (US Attorney, Preet Bharara). Its hard to believe that guys that are smart enough to run consulting companies and hedge funds can also be simultaneously stupid enough to discuss insider information via phone/e-mail.
vipin Posted June 15, 2012 Posted June 15, 2012 I have now seriously started doubting weather corruption is in our DNA ? Or is it because our society has glorified it as a legitimate means. It is considered so very acceptable when it should have been a taboo. What is responsible for this mess our country and so many Indians are in? Is it our education system? I was never taught a lesson in ethics at school. Does it have something to do with our culture ? Law ? Law enforcement ? Poverty ? Illiteracy ? What afterall ?
vvvslaxman Posted June 15, 2012 Posted June 15, 2012 I have now seriously started doubting weather corruption is in our DNA ? Or is it because our society has glorified it as a legitimate means. It is considered so very acceptable when it should have been a taboo. What is responsible for this mess our country and so many Indians are in? Is it our education system? I was never taught a lesson in ethics at school. Does it have something to do with our culture ? Law ? Law enforcement ? Poverty ? Illiteracy ? What afterall ? Greed.
vipin Posted June 15, 2012 Posted June 15, 2012 I looked upto this guy at one time. One stupid silly **** from him has blotted one of the most inspiring lives.
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