http://dealbook.nytimes.com/2014/04/22/appeals-court-raises-doubts-about-governments-insider-trading-case/?_php=true&_type=blogs&_r=0
This article discusses a trial in the United States Court of Appeals between two former hedge fund traders, Todd Newman and Anthony Chiasson, and the government. The Court of Appeals has said to be questioning "whether the judge in the trail erred she instructing jurors". There was an hourlong hearing, including a three judge panel, that hinted that the decision might be overturned. This article outlines the hearing and discusses whether the Wall Street crackdowns are truthful. Mr. Bharara has had a sweeping campaign as a United States attorney to eliminate insider trading on Wall Street. Mr. Bharara's perfect record (80 insider trading convictions without a single defeat) is now in jeopardy.
The article not only discusses what went on in the hearing with Mr. Bharara, but states that "a judicial chiding here or there will not slow his momentum, and legal experts said the appellate court could very well uphold the insider trading convictions, A reversal, however, might undercut one of his greatest achievements".
The outcome of this appeal will be very influential on Wall Street and for Mr. Bharara's reputation.
1 comment:
It's more appropriate to consider the impact of the convictions as the achievement, instead of the perfect streak. People will occasionally go to absurd lengths to protect such streaks if they feel threatened.
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