Sunday, July 24, 2011

Raj Rajaratnam and the Galleon Group - An Illumination of the Dark Side of Human Nature

I recently read an entertaining article in The New Yorker on the conviction of billionaire Raj Rajaratnam for insider trading.  According to George Packer's article entitled "A Dirty Business," "Rajaratnam’s view of human nature was not so different from that of Willie Stark, in 'All the King’s Men': 'Man is conceived in sin and born in corruption and he passeth from the stink of the didie to the stench of the shroud.' If there are examples of people whom Rajaratnam unsuccessfully tried to corrupt, they have not surfaced in the voluminous public record on Galleon."  Danielle Chiesi, Anil Kumar, and Rajat Gupta were a few of the many individuals who ultimately fell prey to the temptation of insider trading because of Raj Rajaratnam's powers of persuasion.

Read more http://www.newyorker.com/reporting/2011/06/27/110627fa_fact_packer#ixzz1T2Os7aJ4

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