you know, my whole life, i was always told shipwrecked spanish galleons, you know.makes a lot of sense. this is the graveyard of the atlantic out here, kind of like the original bermuda triangle, if you will. you know, there's something like 2,000 shipwrecks off of our coast, and, you know, right along the coast of our-- our barrier islands is the gulf stream, which was the major traffic route for--for ships, you know, all throughout the colonial period. however, you know, that is possible but not really all that probable, though. one of the dominant theories that's starting to surface right now is actually that these horses, though they are of spanish origin as far as their breed, actually most likely arrived here from the english instead, and, you know, the spanish shipwrecked galleons, kind of takes a bit of a stretch of the imagination to formulate that idea. however, what we do know about the history of the outer banks, first and foremost, the english attempted to colonize the outer banks starting all the way back in the early 1580s. so, first and foremost, we

life in galleon group is depicted raj raj insider trading conviction is.is tantalizing tale of booze, drugs and sex. it gives a glimpse into pressure behind the scenes, possibly the cause for so many recent probes into insider trading. i spoke to the author of, the buy side of wall street traders, a a tale of spectacular excess. i have to say, it was fascinating to read because it really seemed like fiction, but it's true. do you think insider trade something rampant all over wall street? do you think it is pretty common? >> i? think there is a big difference between today and 10 yearsan ago. back then we were operating sort of under, one of the consequences, and the milken and boeskys were distant memories. so the idea of actually getting caught for doing something that may be crossed the line really wasn't in the forefront of our -- melissa: do you think that changed? raj's conviction changed that? >> yes.ss if i'm a 29-year-old kid and work forking pm who has a 50 million-dollar home in greenwich. melissa: right. >> he is sending trades across my desk m

lori: galleon case. >> that is the galleon case.ge and brought down insider trading case known as "octopussy" which is interesting. lori: that is james bond reference. >> he is a guy. he went under cover. i get how tough it was to go under cover. i focus a lot, half the book is about steve cohen and how long they have been pursuing him. i go into the investigators. preet get as lot of press here. sanjay at the sec. long time sec investigator. he actually uncovered both. the raj case, galleon, case. and he uncovered latest thing with martoma. key in both those cases. shows you how good he is is. people forget the fbi was key here, a b.j. kang, long time investigators who kind of led sanjay on the, on the tail of martoma which is basically fascinating. he flip ad key witness in raj. it is all in the book. lori: looking forward to my copy. charlie, thank you very much. adam: check the markets as we do every 15 minutes. jonathan corpina on the floor of the new york stock exchange. the dow is still in positive territory. is this more tha

. >> anita raghavan talks about the rise and fall of the galleon group one of the largest hedge funds in the world. an insider trading scandal brought down the ferments several high-profile businessmen of -- this haut was hosted by the ages society in new york city. >> a little introduction to this wonderful friend of mine. anita raghavan. i first met her back in 1995. i was then coming to new york and looking around for stories to do and i decided to do a story on indian journalists who were rising in the mainstream is this press. at that time when i was interviewing all the people who had reached the top position someone said to me hey you know, there is this reporter you must meet at "the wall street journal." her name is anita raghavan and he described her as that bright kid who is going places. at that time i was reporting on the securities industry and well, she did go places because i met her again just a couple of years ago when our paths crossed at forbes and i was london bureau chief. now this book i can assure you that anita is going to go further. anita, let's start off. y

people talked about a trial we had a couple years ago with respect to the galleon hedge fund. was that a big fish? no. years ago we successfully held a trial against gold mman sachs. we don't think of it that way. we bring the cases we bring, and the fbi bring the cases they bring depending on what the evidence shows. sometimes it leads to someplace that you consider big, sometimes it doesn't lead to someplace you consider big. we bring the case based on the evidence in the law as we see them. last question. [ inaudible ] >> again, the indictment was just unsealed today. i imagine that it will be contested. there are financial penalties that are outlined in the press release. and, you know, that remains to be seen. it is also possible, i think you asked the question before what kind of resolution can happen in a civil case, resolutions happen in criminal cases also. there is a range of possibilities for resolution, but i think it's way too early to talk about any of that right now. thanks very much, everybody. >> u.s. attorney preet bharara basically detailing that indictment.

weakest "the billionaire's apprentice: the fuse of the indian-american elite and the tje fall of the galleonund" it would ever see before appomattox. taking a little of his own advice about risks might have made george meade the most famous general in american history. it remains for abraham lincoln to illumine the ultimate significance of gettysburg and if i could have an assist from the booth, one more, and another. in fact, let's give it the last click and get everything up there. you see what a wonderful place the atlanta history center is? i just say something and it appears. marvelous. if only my students in class could deliver like that. it remained for lincoln to illumine the ultimate significance of gettysburg in the words that he spoke at the dedication of the national cemetery laid out on cemetery hill in the months after the battle. words of his gettysburg address have been worn so familiar with usage that it may be hard now to realize the depth of meaning in clinton's few brief remarks call all of 272 words at that dedication in november of 1863 but in lincoln's mind the fundame

a lot of that, ever since galleon, has already gone the way. even the s.a.c. talked about how they sort of moved away from expert network firms. so i think we're not going to see a kind of firm like s.a.c. going forward and i think, you know, much more, if you talk to some hedge fund managers, they will even tell you about -- the s.a.c. they talk about they did fundamental research but it was often what they could get for a given quarter in terms of earnings, not a long held conviction on any particular stock. >> saul, why s.a.c.? they could have picked a large number of hedge funds that are out there, but the government has been trying to get s.a.c. for such a long time, why? why s.a.c.? >> well, they obviously believe that the company was permeated by insider trading fraud. it's not every hedge fund that has six individuals plead guilty. that's why the criminal case against the company is going to be pretty much a slam dunk. these cases are very difficult to defend at the company level because of -- because of long-standing criminal law and corporate liabili

he's a partner at holdwell schuster & goldberg p and he presided over the insider trading trial of galleon group founder raj rajaratnam. judge, welcome back to the show. i want to be honest with you right up front. this sounds so thin to me. failure to oversee. highly suspicious. he ignored red flags. on a friday afternoon. they didn't charge him with insider trading. i think this is just the s.e.c. trying to get a successful trader. what's your take? >> well, i think you can view it as a victory for mr. cohen. >> ah. >> by virtue of what it didn't do. it didn't allege direct involvement in insider trading. it doesn't mean he won't be charged with that, either by the u.s. attorney or by the s.e.c., but not today. >> but what does this mean, he missed red flags? as our reporter jackie deangelis, said, this guy had a huge compliance system. i mean, they know the whole world's coming down in their head. they know that. how can you charge someone with missing a red flag? how does the s.e.c. even know that? >> well, the s.e.c. has a lot of facts as to what happened in 2008 with respect to marto

. >> anita raghavan talks about the rise and fall of the galleon group one of the largest hedge funds in the world. an insider trading scandal brought down the ferments several high-profile

some relation to this massive ongoing insider trading case, not, just not against steve cohen but galleonhas been going on since 2007. they say watch the next two weeks. if there are charges the next two weeks and a lot of people are the about there will be some sort of charges either criminal or civil against cohen or sac capital, this is the month after july, it looks like it becomes a much more difficult case. knowing the feds they can go after you forever. they can manufacture stuff. we should point out if they ever use rico, that is where the statute of limitations is much more squirrely. they can play with that that is interesting, preet bharara was on other business network talking about rico where they were barely used. giuliani used against drexel last time it was used in the major white-collar crime case. dennis: in the '80s. >> it might not have been '80s but might have been 1990. they had no problem bringing down drexel. i'm just saying, this is me as a betting man. the next two weeks are critical. i think something is going to pop. cheryl: you think from preet? >> i think fro

porche manager, the title of this book could have been the rise of raja gupta and the fall of the galleon fund rather than the indiana lead but i looked at the table of contents and the excerpt in the new york times and looks like it is all about raja gupta, not about the american elite in general. all of this. in titling books like this that way perhaps you are going to cause a process of casting a shadow over the whole thing. >> all i was trying to do was i think raja gupta was an important member of the community and i think his journey was similar to the journey of many in the community, the rise, the explosive rise in such a short period of time and sometimes used one character to show what a community has done and certainly his rise was emblematic of the community. i actually think the book spans a lot of time on his rise. we can count pages later. >> it is the billionaire's apprentice story, clearly about 147 but in the broader context that is how i understood it. right there. that corner. >> 9 name is megan and i am part of that wave of diaspora you talked about that came in the 1