Former Goldman Director Expected To Face Criminal Charges, Source Says

[Tx4obama]

Rajat Gupta, Former Goldman Sachs Director, Expected To Face Criminal Charges: Source

Former Goldman Sachs director Rajat Gupta will surrender to the FBI on Wednesday to face criminal charges, a person familiar with the investigation said.

Gupta was named as an unindicted co-conspirator in hedge fund founder Raj Rajaratnam's trial earlier this year. He has denied wrongdoing.

Rajaratnam was sentenced to 11-years in prison this month. Gupta's attorney, Gary Naftalis, did not immediately respond to a call seeking comment.

SNIP

http://www.huffingtonpost.com/2011/10/25/rajat-gupta-former-goldman-sachs-director_n_1031780.html

[Nye Bevan]

1. But... but.. but... I thought Obama's policy was not to "prosecute Wall Street",

at least, according to many DUers.

[brentspeak]

3. He's not

The issue is prosecuting the Wall St. that brought upon and profited from the mortgage meltdown which has destroyed what was left of post-NAFTA America. He's still refusing to do so, and is accurately being labeled as http://www.dailykos.com/story/2011/08/22/1009426/-Yves-Smith:-Corrupt-Obama-Administration-Pressuring-NY-AG-to-Support-Mortgage-Whitewash">"corrupt" by Yves Smith over at Naked Capitalism.

Prosecuting some fall guy who committed insider trading is exactly the very thing that Wall Street approves of: the casinos don't mind seeing the card cheats targeted, just as long as it means that they themselves get a free pass.

[burrowowl]

2. Good!