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The John Batchelor Show

PREVIEW: #WALLSTREET: Excerpt from a conversation with Wall Street executive Raj Rajaratnam, who served many years in Federal rison for insider trading and here comments on why he wrote this book after leaving jail, and what he looks to achieve -- clairty

The John Batchelor Show

John Batchelor

Books, News, Society & Culture, Arts

4.52.8K Ratings

🗓️ 7 April 2024

⏱️ 4 minutes

🧾️ Download transcript

Summary

PREVIEW: #WALLSTREET: Excerpt from a conversation with Wall Street executive Raj Rajaratnam, who served many years in Federal prison for insider trading and here comments on why he wrote this book after leaving jail, and what he looks to achieve -- clairty about insider trading rules. More later.


1929 Wall Street during the crash.

Uneven Justice: The Plot to Sink Galleon, by Raj Rajaratnam

https://www.amazon.com/Uneven-Justice-Plot-Sink-Galleon/dp/1637582811/ref=tmm_hrd_swatch_0?_encoding=UTF8&qid=&sr=


Raj Rajaratnam, the respected founder of the iconic hedge fund Galleon Group, which managed $7 billion and employed 180 people in its heyday, chose to go to trial rather than concede to a false narrative concocted by ambitious prosecutors looking for a scapegoat for the 2008 financial crisis. Naively, perhaps, Rajaratnam had expected to get a fair hearing in court. As an immigrant who had achieved tremendous success in his adopted country, he trusted the system. He had not anticipated prosecutorial overreach—inspired by political ambition—FBI fabrications, judicial compliance, and lies told under oath by cooperating witnesses. In the end, Rajaratnam was convicted and sentenced to eleven years in prison. He served seven and a half.

Transcript

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0:00.0

This is John Batcher, a conversation with Raj Raj Rajaratnam, the author of Uneven Justice,

0:06.7

The Plot to Sink Allian, about his prosecution by the Federal Attorney for insider trading. What I learned in the course of the

0:16.5

conversation and this is a piece of it why Raj Raj Rajajya Radnam wrote the book is

0:21.7

that there are no clear rules about what is an

0:25.2

insider trade. No clear rules. A strange world.

0:32.1

Capitalism on Wall Street.

0:34.0

Raj Raj Raj Rajh Rhatnaman why he wrote the book and what he wants to achieve by writing this book

0:40.0

and how he needs clarity about insider trading. He's out of prison and it was a

0:47.8

fascination to talk to him. It was a very famous case at the time. Here's Raj Rajaradnam.

0:56.0

Your, my book, I think, or I want to address something that's bigger than insider trading.

1:02.0

It's about

1:03.7

prosecutorial oversight and accountability and civil rights, violations of

1:10.7

civil rights that should not be tolerated in a civic society.

1:15.0

I love this country.

1:16.7

The day I took the oath as an American citizen,

1:20.3

I accepted the laws of this country. I think that a vast majority of prosecutors

1:28.3

and the vast majority of the FBI's do a great job and people of honest caliber and integrity.

1:37.0

So my book was written not to define what insider a trading should be, but the peals of unchecked

1:47.0

power, absolute power, corrupt absolutely. I started writing this book for my children. I had no intention of publishing it.

1:59.3

But when I went to prison, my story was not unique. There were several people there who were, who experienced

2:08.6

prosecutorial misconduct. And that's when I said, you know, this is bigger than Raj Raj Raj.

2:14.7

There are big issues here. We are a democracy. We incarcerate more people than any other civil society.

...

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