OVERSTOCK.COM CEO: Steve Cohen Is Directly Responsible For Corruption That Has Cost Hundreds Of Thousands Of People Their Jobs

There is no way to say "I told you so" with dignity, so I'll just say it without:  I told you so.  Search "Deep Capture" in this blog alone: <Deep Capture>, and you will see a number of blog entries implicating Steve Cohen and his cabal of naked short-selling hedge fund cohorts, which destroyed many sound biotech companies, some of whom had promising treatments for a variety of conditions, including cancer, obesity, and diabetes.  All to obtain billions in illegal profits.  Imagine not only the job losses, but the human losses.

SAC Capital Is Indicted

Ol' "Blue Eyes" Stevie Cohen of SAC Capital was so feared on Wall Street that nobody would mention his name.  There were whispers of connections with organized crime, but much of the intimidation came from traders feared being on the other side of his trades.

Price manipulation is rampant in equities markets (any investor of biotech startups can identify the makings of a bear raid like the back of their hand), fixed-income (see LIBOR scandal), and commodities.  Meanwhile, the regulators are asleep at the wheel, either looking the other way (more likely being paid to look the other way), or too understaffed or incompetent to prosecute.

http://dealbook.nytimes.com/2013/07/25/sac-capital-is-indicted/

Senior SAC Trader Arrested, Given Perp Walk

Another slap on the wrist is forthcoming, with the Big Kahuna still untouchable.  I wonder how much a get-out-jail-free card is worth these days for hedgies.

http://www.zerohedge.com/news/2013-03-29/senior-sac-trader-arrested-given-perp-walk

SAC Capital Partners Bets A Quarter Billion On Gold, Silver, & Mining Shares

http://bullmarketthinking.com/sac-capital-partners-bets-a-quarter-billion-on-gold-silver-mining-shares/

Former SAC Trader Busted With Biggest Insider Trading Profit In History

Here is zero hedge's take on the latest allegations of insider trading by one of SAC's tentacle hedge funds.

http://www.zerohedge.com/news/2012-11-20/former-sac-trader-busted-biggest-insider-trading-profit-history

Cohen linked to $276m insider trading scheme

Anybody who has invested in the biotech battleground stock Dendreon knows there are dark forces behind Wall Street's manipulation of markets.  Or anybody who has read "Deep Capture" understands this also.  I have done both--back in 2009.  There are many other cases--not just these two alleged cases of insider trading.  The SEC, FBI, and DOJ:  better late than never.

http://www.ft.com/intl/cms/s/0/8b17542a-3327-11e2-8e44-00144feabdc0.html#axzz2Cff9v0dq

"At SAC It Was Understood You Provided Steve Cohen With Inside Information"

A few years ago, no one dared even to mention Stevie Cohen's name, for fear of retribution (and rumors he was connected with organized crime).  Now his name is being brought up again and again, with allegations of insider trading amongst his network of hedge funds.  Go to Deep Capture and now these entries from zero hedge.


http://www.zerohedge.com/news/2012-10-02/sac-it-was-understood-you-provided-steve-cohen-inside-information