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These days, you don't have to work on Wall Street to get entangled in an insider-trading scandal - just ask Martha Stewart. The homemaking guru spent five months in prison in 2004 after a series of events triggered by her sale of $228,000 in shares of biomedical firm ImClone Systems, the day before its value plunged 15%. Thanks to a 1997 Supreme Court ruling, even those who lack a connection to a company cannot trade on inside information if they know it is meant to remain confidential. (ImClone was run by Stewart's friend, Sam Waksal.) Ultimately, Stewart...
...then added that they also had a plan for the sick: "Die quickly." It was an instant online sensation, with more YouTube viewers than Grayson got votes in his home district. He offered up more bombast, calling a Federal Reserve Board staffer who is a former lobbyist a "K Street whore" and calling Republicans "foot-dragging, knuckle-dragging Neanderthals" on CNN. The liberal online hub the Huffington Post linked to the caveman remark, and more than 1,500 people wrote comments. "We need about 100 more Graysons in Congress," read one. Grayson later apologized to the Fed aide but repeatedly...
...outliers in behavior because, let's face it, the easiest way to get on television right now is to be really rude." But Obama plays the game too: his online fundraising pitches read like populist fairy tales, with the big insurance industry playing the wicked witch of K Street. And at a fundraiser in Miami on Oct. 26, the President called Grayson an "outstanding member of Congress...
...Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System--and Themselves...
...financial crisis was a small club of (mostly) men--many of them friends, plenty more rivals--who determined, often by the seat of their pants, how events would unfold. In Too Big to Fail, Sorkin, a New York Times reporter, takes us inside the cozy world of Wall Street chieftains and their Washington alter egos. Why did the U.S. Treasury Department ask Congress for $700 billion in bank-bailout funds? Because $500 billion felt too small and $1 trillion politically impossible; one staffer, charged with justifying the figure, laughed "at the absurdity of it all." Sorkin's meeting-by-meeting...