Fri, Aug 28, 2015
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. Commodities - Commodity hedge funds lose most in three years as rout deepens, Funds bet on Shell deal as oil prices plunge[more]

    Commodity hedge funds lose most in three years as rout deepens From Bloomberg.com: Hedge funds betting on commodities lost the most in almost three years in July as the price-rout deepened. Funds lost money for a third month, according to the Newedge Commodity Trading Index, which was re

  2. Investing - Hedge funds suddenly find real money is back in Argentina's debt, Elon Musk buys more SolarCity stock following hedge fund manager short, BlackRock plans to get into rental-home financing[more]

    Hedge funds suddenly find real money is back in Argentina's debt From Bloomberg.com: The real money is back in Argentina. Before the country’s default in July 2014 (its second in 13 years), most long-term investors abandoned its bond market. As they rushed out, Argentina became a favorit

  3. JTC acquires Kleinwort Benson’s fund administration business[more]

    Bailey McCann, Opalesque New York: JTC has completed the acquisition of Kleinwort Benson’s fund administration business, boosting assets under administration (AuA) to $56 billion. Kleinwort Benson is based in the Channel Islands, South Africa. The transaction, which relates to the whole of K

  4. Performance - Hedge funds set to bank millions by short selling during London share slump, The China market chaos has made this hedge fund its most money in 2 years, Odey hedge fund said to surge 9% betting against China, Hedge funds with long-held bearish views on China rack up profits, Hedge funds in U.S. seen curbing damage from August turbulence, Hedge funds collect on their predictions of a fall, How did managed futures do while the Dow was down 1000[more]

    Hedge funds set to bank millions by short selling during London share slump From TheGuardian.com: Hedge funds are set to bank tens of millions of pounds from the slump in share prices in London, having bet almost £18bn that the FTSE 100 would fall. The funds making the bets include Lansd

  5. Opalesque Exclusive: John C Head IV leaves alternative investment firm Gallery Capital, David Harrison joins as co-CIO[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: John C Head IV, former president and co-founder of Gallery Capital Management, an alternative inv

 

banner