AOL News has a new home! The Huffington Post.
Click here to visit the new home of Politics Daily!Hot on HuffPost:
Walker Recall Effort Struggles To Gain Momentum
Controversial Book On Obama Appears To Have Lifted Key Quote
Goldman Sachs
Was Rajaratnam Just Smart or Inside Trader? Decision Time Nears
By Betwa Sharma - AOL NewsNEW YORK -- Was former billionaire Raj Rajaratnam just a smart trader who based his deals on a "mosaic" of public information or were his profits based on insider tips? Rajaratnam's defense made the case for the former this week, as the largest hedge fund insider-trading case in U.S. history moved toward closing arguments next week. Spencer Platt, Getty Images Billionaire Galleon Group hedge fund cofounder Raj Rajaratnam, right, enters Manhattan Federal Court with one of his lawyers for his insider-trading trial on Tuesday in New York City. The government has accused Galleon ...
Huge Insider Trading Case Features Multibillion-Dollar Deals, Wiretaps
By Betwa Sharma - AOL NewsNEW YORK -- The largest insider trading case to hit the U.S. in decades has all the elements of a highly charged courtroom drama involving powerful players on Wall Street, their secretly recorded phone conversations and deals worth billions of dollars. Federal prosecutors charge that Raj Rajaratnam made $45 million from trading on insider tips he received from friends working in the world's top business and financial circles. He faces 14 counts of conspiracy and securities fraud and denies wrongdoing. Rajaratnam, the 53-year-old founder of the Galleon Group hedge fund, has sat in court from ...
SEC: Insider Trading Ring Reached Into Goldman's Boardroom
By Joseph Schuman - AOL NewsThe Securities and Exchange Commission today accused a former board member of Goldman Sachs and Procter & Gamble of illegally providing tips to his friend and partner, hedge fund manager Raj Rajaratnam, as part of a skein of insider trading schemes that generated more than $18 million in illicit profits. Rajat K. Gupta, as a member of both boards, helped Rajaratnam's Galleon Management trade ahead of market-moving public announcements by Goldman and Procter, including the 2008 news that Warren Buffett's Berkshire Hathaway was investing $5 billion in Goldman, the SEC said. Getty Images ...
Ex-Goldman Sachs Director Charged With Insider Trading
By not in system - AOL NewsWASHINGTON -- Federal regulators have charged a former Goldman Sachs board member with insider trading, saying he provided confidential information to the central figure in a major hedge fund probe. The Securities and Exchange Commission announced the civil charges against Rajat Gupta on Tuesday. The agency said Gupta told Raj Rajaratnam, the founder of the Galleon Group hedge fund, that Warren Buffett's Berkshire Hathaway planned to invest $5 billion in Goldman before it was publicly announced in Sept. 2008, at the height of the financial crisis. Gupta also is charged with giving Rajaratnam ...
Chelsea Clinton in New York, Marc Mezvinsky in Wyoming, Still a 'Very Happy' Couple, Friend Says
By Annie Groer - Politics DailyIs the state of the union of former First Daughter Chelsea Clinton and Marc Mezvinsky, her husband of barely seven months, solid? "The couple are very happy," a family friend told Politics Daily, in response to questions raised in media reports about why the two are currently living nearly 1,900 miles apart. Clinton, 30, is in Manhattan pursuing her doctorate in public policy at New York University, while Mezvinsky, 34, who recently quit his financial sector job at G3 Capital, is spending a few months skiing and snowboarding in Jackson Hole, Wyo. The National Enquirer cited a "close" ...
Financial Crisis Report Spreads Blame Far and Wide for Meltdown
By Tom Kavanagh - Politics DailyThere's plenty of blame to spread around -- and the financial crisis was avoidable. In a nutshell, that's the conclusion of a report released Thursday by the Financial Crisis Inquiry Commission, a congressionally appointed body that explored reasons for the 2007-08 meltdown that led to the worst economic crisis since the Great Depression. From government regulators and policymakers to Wall Street's power players, the 633-page report cites a vast of array of contributors to the near-disaster, the effects of which still grip the nation. "A crisis of this magnitude cannot be the work of a few ...
Corporate Guest List Revealed for Obama Meeting With China's Hu Jintao
By David Knowles - AOL NewsWho wants a piece of the Chinese action? The White House today released a list of U.S. corporate leaders who have been invited to attend a meeting on Wednesday with Chinese President Hu Jintao this week. The aim of the meeting is to pave the way for future exports for American companies. "You'll see important commercial relationships that our CEOs have and want to expand in China that the president believes is important to make a forceful case in front of both the CEOs from China as well as President Hu," Press Secretary Robert Gibbs told reporters today. So who made President Barack ...
The Facebook-Goldman Sachs Deal and 5 Other Jon Stewart Targets [VIDEO]
By Torie Bosch - AOL NewsOn "The Daily Show" Thursday night, Jon Stewart turned his witty wrath on Goldman Sachs and Facebook for their recent business deal, in which Goldman Sachs and a Russian company invested $500 million in the social-networking behemoth. Stewart's problem with the deal: Facebook and Goldman Sachs seem to be trying to avoid disclosing financial details to the Securities and Exchange Commission. The financial trickery has Stewart fuming: "Mark Zuckerberg doesn't want to be transparent. The guy whose success was founded on mining our personal data. The guy who shares my photos with the whole world ...
Gene Sperling: 5 Facts on Obama's New National Economic Council Chief
By Torie Bosch - AOL NewsPresident Barack Obama officially named Gene Sperling as Larry Summers' replacement to head the National Economic Council today. Sperling was mentioned early and often in the speculation game over who would step in after Summers' departure. Here are the basics on the man who will have enormous influence on economic decisions: 1. He knows his way around the NEC Sperling first served on the National Economic Council during the Clinton administration. From 1993 to 1996, he was the council's deputy director under Robert Rubin. Sperling then moved to NEC director, serving in the role from ...
Facebook's $500 Million: 5 Things FB Could Do With the Goldman Sachs Cash
By Torie Bosch - AOL NewsIt's a very happy New Year indeed for Facebook: The social networking company has raised $500 million from Goldman Sachs and a Russian investing firm called Digital Sky Technologies. Goldman now says that Facebook is worth a whopping $50 billion. That $500 million investment is a cool chunk of change for Mark Zuckerberg and Co. But what, exactly, do they plan to do with it? Surge Desk has collected some of the prevailing tech-blog theories. 1. Go public TechCrunch muses that the cash injection "values [Facebook] at a nice round $50 billion. And the likely reason is so Goldman can take ...
Follow Politics Daily
POPULAR
- Nancy Pelosi Confirms House May Skip Up or Down Vote on Senate Health Bill
- Debrahlee Lorenzana: A Double Take on Those Double D's
- Campbell Brown Quits CNN With Shockingly Frank Farewell
- Palin Earnings Estimated at $12 Million
- The Five Most Racist Obama Cartoons?
- Jimmy Carter Leaves Church Over Treatment of Women
- Soraya M., Stoned to Death for Being an "Inconvenient Wife''
- No posts are available.
News From Our Partners
- Dragon arrives at space station in historic 1st
- Picking new leader, Egyptians search for superman
- Egyptians vote in first free presidential vote
- Moon chips from Vegas casino mogul sent to NASA
- Egyptians vote to rid nation of autocratic rule
- More Stories »
- 'Masters of the Universe' Sure Have Fragile Egos
- Romney: My Mistakes 'Haunt Me'
- Newt Lauds Romney: He's Like Eisenhower
- Irked Senate Panel Votes 30-0 to Cut Pakistan Aid
- GSA Bash Organizer Steps Down
- More Stories »
- Know Your Enemy
- Obama’s Challenge in Egypt
- The Edwards Waiting Game
- Are Doctors Doing Too Much?
- The Pagan Cult of Reagan
- More Stories »
- Ambition Counteracting Ambition
- Robert Blagojevich Speaks Out
- In Iowa, Obama Calls Romney's Words 'A Cow Pie of Distortion'
- In Iowa, Obama Calls On Congress to Act on Clean Energy Tax Credits
- Romney Has Interesting Morning in Inner-City Philly
- More Stories »
Top News
More News
More on Aol
Local News
More Blog/Sites
Sites and Services
HuffPost Politics