Degenerate Martoma Prosecutors Bask in Victory Over a Grain of Sand

Mathew Martoma's lawyers did an impressive job with what they had to work with, but it's no surprise that their client was found guilty of insider trading today. A doctor testifies he gave you secret terrible drug trial results, your hedge fund sells hundreds of millions of dollars of stock, and a week later the results come out and the stock tanks: You go to jail. That is a simple bad story. There are a lot of very gray-area insider trading cases, including some in the recent batch of SAC-linked prosecutions, but Martoma's doesn't really seem to be one of them.

Degenerate Martoma Prosecutors Bask in Victory Over a Grain of Sand IvTl8U35G.Tc

Degenerate Martoma Prosecutors Bask in Victory Over a Grain of Sand IvTl8U35G.Tc

Nor, I think, does his conviction carry any Big Implications. Will he roll and give prosecutors Steve Cohen's head on a sandy platter? I've always been skeptical of that theory: If Martoma had information that could be used to go after Cohen, and any inclination to use it, the time to do so was before getting convicted of a bunch of felonies. Whatever reason Martoma had for not cooperating against Cohen last week, he probably still has now. And cooperating now is not exactly a freebie do-over. You still gotta go to jail! Like, a lot.

More: http://www.bloomberg.com/news/2014-02-06/martoma-prosecutors-bask-in-victory-over-a-grain-of-sand.html
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Anarcho-Capitalist, AnCaps Forum, Ancapolis, OZschwitz Contraband
“The state calls its own violence law, but that of the individual, crime.”-- Max Stirner
"Remember: Evil exists because good men don't kill the government officials committing it." -- Kurt Hofmann

Degenerate Martoma Prosecutors Bask in Victory Over a Grain of Sand

Degenerate Martoma Prosecutors Bask in Victory Over a Grain of Sand

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