If Gupta had given Raj Rajaratnam information that Goldman Sachs was going to get an investment from Warren Buffet (and suppose, if Rajaratnam had not sold an already long position in Goldman stock based on this material, non-public information), would this have amounted to a criminal offence on Gupta's part?
Contrary to popular notions, US laws protect the truly rich and powerful Rajat Gupta, however, was an outsider.
There are no easy answers to this crisis. But governments should consider whether they ought to become the insurer of last resort.
US President Barack Obama's administration has faced extensive criticism for its failure to prosecute bankers criminally for behavior that led to the financial crisis.
According to all accounts, Neel Tushar Kashkari was well received at the California Republican Party Convention -- his first major public exposure after formally declaring his candidacy in January for governor of California
'Today, the gift of a good education and the opportunity it creates are out of reach for millions of struggling Californians. That's why I'm running for governor -- to create jobs and give kids a quality education. Jobs and education. That's it. That's my platform'. Neel Tushar Kashkari, the son of Srinagar-born and raised Kashmiri Pandit immigrants, throws his hat in the ring for California governor.
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