American Greed
CNBC's show "American Greed" - Two nights ago featured an insider scheme that involved Wall Street's most pretigious financial firms - Goldman Sachs and Merrill Lynch, 9 security trading accounts for owners whose professions ranging from stripper, personal trainer to, of course, associates in big investment banks. When greed got the best of people, it could become out of control. The tricky part of this investigation is to find out the source of information for insider trading. It turned out that they were using pre-published Business Week column. This is the one trick that "worked", making them millions of dollars. Before that they tried hiring high class strippers to get inside information from executive clients but didn't "worked". However, obviously the one that worked got them busted. A smart idea, but bribing some publisher workers to read them the columns before it went to the public left way too many trails. But when greed get the best of a person, anything can happen.
Comments: View Comments | Thursday February 26, 2009
