Evidently…Wall Street continues to act like a casino. These bright folks seem to have lost their inner compass…as yet another article relays:
Dangerous liaisons at IBM: Inside the biggest hedge fund insider-trading ring
Moffat, the senior vice president of IBM’s systems and technology group, was the most prominent tech executive arrested in the federal dragnet that snagged Raj Rajaratnam, founder of the Galleon Group hedge fund. The bust sent tremors through Wall Street, exposing a world of illicit, back-channel dealings between prominent hedge fund managers and senior executives in the high-tech industry. Among those caught in the federal bust were a McKinsey & Co. director, a high-level Intel executive, and the head of New Castle Partners, a hedge fund that was once part of Bear Stearns. So far, 11 of 21 people charged have pleaded guilty.
From DSC:
We are all in this boat together. If our current students continue to hear the messages such as, “Look out for #1” or “Do whatever it takes to get that corner office” or “You are only as successful as you are wealthy”, our collective futures are in trouble.