SAC Capital Indictment Does Not Mean The End Of ‘Too Big To Jail’

The feds finally seem to have gotten over their fear of bringing criminal charges against a financial company — but that doesn’t mean they have lost their anxiety that some companies are just “too big to jail.” The U.S. Attorney for the Southern District of New York on Thursday filed a grand-jury indictment against SAC Capital Advisors, the $15 billion Stamford, Conn., hedge fund run by billionaire Steven A. Cohen. The indictment accuses SAC Capital of “insider trading that was substantial, pervasive and on a scale without known precedent in the hedge fund industry.” The government says SAC made “hundreds of millions” of dollars on insider trading over more than a decade, and it wants all of that money back. The charges could well mean the end of SAC, which employs about 1,000 people, according to Reuters. More in the Huffington Post here.

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