Saturday, August 10, 2013

Wall Street's big SAC Capital problem

This proves now big embattled SAC hedge fund manager Stevie Cohen is.  Because if SAC goes down, a lot of big banks will be going down with him.  My speculation?  Despite SAC's obvious shenanigans, a few managers will be scapegoated to create the illusion of justice.  Many will pay fines and admit no guilt.

The too-big-to-fail banks connected to SAC must be sanitized from any wrong-doing.  Wall Street needs to be portrayed as that shining example of capitalism, instead of the rotten, corrupt, rigged market it has become.

http://www.cnbc.com/id/100940427

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