ANOTHER MOTU GETS CAUGHT

It's only one but maybe there will be some "trickle up".

SEC charges ex-Goldman director in insider case
By Jonathan Stempel

NEW YORK | Tue Mar 1, 2011 5:03pm EST

NEW YORK (Reuters) - A former Goldman Sachs Group Inc director leaked secret details to Galleon Group hedge fund manager Raj Rajaratnam about Warren Buffett's plan to invest $5 billion in the Wall Street bank at the height of the financial crisis, a U.S. securities regulator charged.

The U.S. Securities and Exchange Commission said the director, Rajat Gupta, tipped Rajaratnam by phone just minutes before the public learned of the investment by Buffett's Berkshire Hathaway Inc, which helped ensure Goldman's stability.

The SEC said Rajaratnam, who faces a March 8 criminal insider trading trial, used the tips to trade at his firm, Galleon Group, reaping more than $18 million of illegal gains. It said Gupta invested in at least some Galleon hedge funds.

I was glad to see that most of the comments on the Yahoo News thread about this story were mostly like this:

Contrarian 5 hours ago
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"Forgive me, I must start by pointing out that three years after our horrific financial crisis caused by financial fraud, not a single financial executive has gone to jail, and that's wrong."
Charles Ferguson's statement prior to accepting the Oscar award says it all!