blog+3

This past Friday Mr. Raj Rajaratnam was arrested by the FBI for inside trading. He worked at wall street, and he had his own company. Mr. R is one of the 400 most richest people in the US. This case makes wall street look bad because they are still recovering from the Madoff case. This case is unusual because there are high profile of people arrested from big companies like IBM and Intel. The FBI for 2 years has taped these peoples cell phones and recorded their conversations. There is a need of a better definition for "insider trading". It's very difficult to prosecute and get a conviction in these cases.

I think that Raj Rajaratnam should be arrested because he was getting money on the side and not being far to his other competitors on wall street. The market should be far 100% or else everybody would be doing inside trading. I don't think that Mr. R should be let off easy and I think he should get the full punishment. Wall street can't have this happening every few years or else everybody would be really hurting financially.