Prosecutors wiretap Wall Street
Prosecutors with the Security and Exchance Commission say they received information sufficient to subpeona and raid a number of hedge funds last week from conversations recorded over wiretaps. According to a report in The New York Times, investigators enlisted the help of seven Wall Street insiders to tape over 500 people using tidbits of informal information to strike deals on the stock market. Is this “mosaic theory,” as the expert network firms call it, or “insider trading”?
We talk to Louise Story, New York Times business and finance reporter, for more on the story.
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