Sat, Apr 21, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Scaramucci compares SAC Capital case with Salem witch hunts, says SEC is 'upset' because they messed up over Madoff

Tuesday, October 29, 2013

Beverly Chandler, Opalesque London:

Business Insider reported on Skybridge Capital’s Anthony Scaramucci 'epic rant’ on CNBC's "Fast Money" after the news broke that SAC Capital and U.S. prosecutors could reach a settlement deal in the coming days.

Scaramucci compared treatment of embattled billionaire hedge fund manager Steve Cohen and his Stamford, Connecticut-based SAC Capital with the Salem witch hunts. Scaramucci claimed that Cohen has received unfair treatment because 'he believes the SEC is just upset because they messed up the Bernie Madoff ponzi scheme case’.

Business Insider quoted Scaramucci saying: "OK. Look, they're upset. I know you guys didn't get the Madoff thing right. You went in there and investigated him several times and blew it. So now you're on a witch hunt for everybody. Why don't we just stop it at this point."

CNBC anchor Scott Wapner said: "I understand...Guilty plea changes things a little bit doesn't it?" and Scaramucci replied: "Scott, when they paint you into the corner and they have unlimited resources OK. And you're trying to get on with your life. It's sort of one of the only things you can do on the Venn Diagram. The Department of Justice and the SEC are gone crazy in these matters. OK look at JPMorgan. Not just SAC/Cohen. They're after everybody. I think it's unfair. I'm one......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Sequoia takes Facebook stake as shares slide in data controversy, $1.4b hedge fund sees intact fundamentals for Facebook, Jim Cramer reveals some 'suggested hedge fund trades' amid the Trump tariffs[more]

    Sequoia takes Facebook stake as shares slide in data controversy From Bloomberg.com: The $4.2 billion Sequoia Fund bought a small position in Facebook Inc. as the stock slid late in the first quarter, investment manager Ruane, Cunniff & Goldfarb told clients. "The recent controversy enab

  2. Activist Investors - Blue Sky-owned Wild Breads faces uncertain future[more]

    From AFR.com: A Blue Sky private equity investment in artisan-style baker Wild Breads enjoyed multiple valuation upgrades despite losing millions and breaching its lending covenants, accounts lodged with the regulator last week show. Wild Breads lost $2.4 million in 2017, but Blue Sky ascribed a hig

  3. Opalesque Exclusive: Barnegat to close hedge fund to outside investors on weak opportunities[more]

    Komfie Manalo, Opalesque Asia: Bob Treue's Barnegat Fund Management said it is closing its $666m fixed income relative value hedge fund to outside investors. "The negative side to gains in Fixed Income Arbitrage is that unless we find new opportunit

  4. Investing - Hedge fund makes a big bet on malls, British hedge fund manager Odey short UK government bonds on QE bet[more]

    Hedge fund makes a big bet on malls From Barrons.com: The dominant narrative on American shopping malls is that they're dead. Crushed by Amazon.com, many brick-and-mortar retail stores are destined for bankruptcy. And where is the most retail, clustered all together? Malls. From a

  5. Performance - Hedge funds suffer first back-to-back loss in two years, Netflix performance burns hedge fund short sellers, Macro hedge fund up 14.5% in first quarter sees dollar falling, Renaissance Technologies rebounds across hedge funds in March[more]

    Hedge funds suffer first back-to-back loss in two years From Bloomberg.com: Hedge Fund returns sank for a second straight month in March, the first back-to-back loss since the first two months of 2016, as trade wars, tech-sector woes and a Fed rate hike dragged down the S&P 500 from its