After 16 years presiding over white collar cases in the U.S. District Court’s Southern District, you’d think Judge Jed Rakoff would be hard to disallusion. Not so. It only took six days for the insider trading trial of Rajat Gupta—the former McKinsey & Co. CEO accused of tipping Galleon Group hedge fund manager Raj Rajaratnam to sensitive corporate secrets—to cause Mr. Rakoff to hang his head in dismay. Read More
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