while the defendant himself mr. gupta jury seems to have found the raj rajaratnam tapes, even though they did not know he was convicted of insider trading, they seem to have found those tapes compelling along with the circumstantial evidence. >> bertha coombs in manhattan. judge holwell thank you for your input, the 30-second call galleon tried to buy stock in the final minutes of trade on september 3rd, 2008. we'll keep an eye what happens happening in lower manhattan, dow up 63, "squawk on the street" back in a minute. te. laces? really? slip-on's the way to go. more people do that, security would be like -- there's no charge for the bag. thanks. i know a quiet little place where we can get some work done. there's a three-prong plug. i have club passes. [ male announcer ] get the mileage card with special perks on united, like a free checked bag, united club passes, and priority boarding. thanks. ♪ okay. what's your secret? [ male announcer ] the united mileageplus explorer card. get it and you're in. >>> take you to a

mr. gupta's innocence. we continue to believe in mr. a's innocence on these charges and continue to fight for his innocence. he's an honorable man. >> will you appeal? >> this is round one. judge allowed us to make motions, which we'll make with him. if they don't prevail, obviously we'll appeal. >> what did mr. gupta say? >> i think i've said everything i've i'm going to say. thanks for your courtesies. >> the inference from gary naftalis, there will be an appeal. let's get back to southwest airlines falling after traffic declined over 2% compared to the same period last year. b.k. >> no love here especially for the whole airline industry you're starting to see traffic numbers decline. across the ocean traffic is declining, latin america is declining. it's not just domestic. airlines have always been a tough trade. i don't think they are getting any better now. stay away. >> let's not forget, guys, today's quadruple, they all expire. i assume you'll get volatility later in the day towards the end? >> yes, simon. you'll also get an exten

secondly, given the life that mr. gupta led up until now, how much of that will be take anna nicole to consideration by the judge at sentencing? >> sure. with regard to your first question, thank you for having me, i'm not surprised. even though they didn't have him -- his voice on tape, the evidence was as the prosecutor said was very overwhelming. you know, 16 seconds after a goldman sachs board meeting he called and bought a tremendous amount of shares in goldman. when he had learned of the news before it was announced and another -- after another meeting 23 seconds afterwards, he again called him and he actually sold his long position in goldman. the evidence was very powerful. and it is unfortunate, but, you know, the prosecutor's cracking down on this. as far as the sentencing goes, it's very serious. he was convicted of three counts of insider trading and one count of conspiracy. the term it's a very broad range the vunlg can give him. it goes from about 17 years to 65 years. now, what the attorney will be arguing an

. >> so, mr. guptaenormous disadvantage because one jury of his peers has already decided that this was enough to put his colleague raj behind bars for an extended period of time, so he's in a very, very deep hole. >> narrator: raj rajaratnam once had it all. he was an immigrant who fought his way to the top and became one of the richest men in the world. but his own greed ultimately was his undoing. >> 99% percent of what galleon did was entirely legitimate, driven by very good analysts and very good traders. i don't see why raj did what he did. it just seemed totally unnecessary. >> raj seems to be someone who could have made a fortune -- made many fortunes without breaking the law. he was extremely smart and knowledgeable and hardworking, but there seemed to be a bigger challenge and a bigger thrill in getting information that other people couldn't get. >> it was about being a multibillionaire, having $7 billion under management. whether that was just pure, unadulterated greed that he was after or wh

she has breaking news on mr. gupta>> >> reporter: mere yeah, after finishing up with lloyd blankfein's testimony, a they intend to put the defendant on the stand. he says it's highly likely that rajat gupta will take the stand next week. of course, he reserves the right to change his mind. >> bertha coombs, thank you. >>> if regulators were better funded, would they have caught bernie madoff before his ponzi scheme did so much damage to so many people? we're going to do a reality check. stay with us. at u.s. trust, our expertise extends well beyond investment advice and research analysis. it includes proprietary offerings like our eldercare program, which helps provide for those who came before you. and our financial empowerment program, which helps prepare those who come next. resources like these have made us the number-one trust company. that's why generations of families have come to us to help build their own legacies. if you made a list of countries from around the world... ...with the best math scores. ...the un

presumably in a short period of time in the trial of the former board member of goldman and that is mr. guptaof course. here are halftime's top three trades. shares of disney hitting all-time high. here is the stock. good looking chart from october or so until now. up more than 1% today. >> i love this company. i like the stock. i own it. you can say avengers, multiple times over. it is one of the reasons. it is theme parks and everything else. it is one of thoer companies you have to juxtapose their perception of domestic and global tourism and entertainment strength with the negativism attitude about the global consumer. they're certainly not seeing it. >> southern company as i look is at a record high as well and sort of a similar chart from mid-last summer or so to now. >> philly utility index, that's up at an all-time high. it is the chase for yield. you need to get it somewhere. southern company is particularly well run utility and i also like to continue to mention the telephone companies. great yields of 5%, southern over 4%, and i think you have to be there while bonds are where they

but that's the alternative. >> what about the idea that mr. guptader trading? how important is that going to be in ternls of explaining what benefit it was he got then from giving potentially inside information? >> there's been a lot of discussion about that element because it's true. that in order to get a conviction for insider trading, the government has to prove that even though he didn't trade, we're seeking some quid pro quo in return for leaking the investigation. but, in fact, the jury charge that is generally given by judges in this case, it's very weak. and it could be simply a matter of friendship to the individual. and there has been a lot of testimony, of course, as to the business relationships and charitable relationships between the defendant. so it's -- it's a point, of course, but i don't think it's as big a point as everybody has been making it. >> overall, you think the government is plowing ahead? doing what they intended to do? >> i haven't seen anything to lead me to believe that government isn't doing precisely what they inte