Tue, Dec 6, 2016
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. M&A - AllianzGI to acquire Sound Harbor Partners, SS&C completes acquisition of Wells Fargo's Global Fund Services business[more]

    AllianzGI to acquire Sound Harbor Partners Allianz Global Investors (AllianzGI), an active investment manager, announced that Sound Harbor Partners, a US private credit manager led by Michael Zupon and Dean Criares, have agreed to join its fast-growing Private Debt Platform. Under the te

  2. Hunt for yield pushes more investors into riskier assets[more]

    From FT.com: Pension funds and insurance companies have increasingly embraced riskier assets in their hunt for higher returns over the past five years. Alternative assets such as property, infrastructure, private equity and hedge funds have been bought up by institutional investors in a world where

  3. People - Nectar Financial hires senior investment team, Texas A&M replaces retiring foundation investment chief, Ex-Cadwalader partner Woolery makes another sudden exit, How to become a Python coder at a top hedge fund, by the co-CTO of Man AHL[more]

    Nectar Financial hires senior investment team Nectar Financial AG, a Swiss financial technology company for wealth and asset management, has announced that it has hired two key senior leaders to spearhead its digital asset management efforts. The company also announced that it has entere

  4. Activist News - Cognizant has introductory discussion with activist investor Elliott; to review letter, Starboard Value makes huge investment in Hewlett Packard, Hedge fund calls for removal of First NBC Bank CEO[more]

    Cognizant has introductory discussion with activist investor Elliott; to review letter From Indiatimes.com: Cognizant said it had an introductory discussion with Elliott Management after receiving the activist hedge fund's letter asking for a board shakeup, a buyback, a dividend and chan

  5. Opalesque Exclusive: Ireland relaxes treatment of direct lending funds[more]

    Bailey McCann, Opalesque New York: The Irish Central Bank has relaxed its treatment of direct lending funds, according to a recently released