Crime on Wall Street

Apr 23, 2015
by: DOliver

According to this article, the biggest issue with Hedge Funds does not have so much to do with the funds themselves, but rather with insider trading. Despite this, many people equate hedge funds with crime. This correlation they tend to draw seems to exist primarily due to the fact that people working at hedge funds have investing knowledge and capabilities to commit white collar crimes. Preet Bharara is drawing more and more attention to the crimes actually being committed on Wall street in an attempt to stop insider trading.

This article highlights what some less-than-savory investors do, but it is not technically illegal. This is where many of the issues seem to lie within the financial industry: Morality against Legality against Profitability. Paul singer, a billionaire financial manager, essentially "hog-tied" Argentina when they refused to pay him for defaulted bonds.

This article, however, shows the efforts being made to keep business ethical. The authors wish to shift the view of businessmen from ruthless, money-hungry cutthroats, to - well - anything better than that. They want to pass the message that not all financial people are criminals, just the ones everyone ends up hearing about. This article is interesting in that it displays both contempt and sympathy for many in the financial industry while simultaneously getting its point across.