Fri, Jul 3, 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. Opalesque Exclusive: New systematic strategy managed alongside research firm outperforms S&P500[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: An emerging CTA manager explains how he runs his strategy, which is based on an index produced by a research firm. Peter Turk is head of

  2. Opalesque Exclusive: New systematic strategy embraces machine learning[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The founder of a New York-based systematic trading firm, which offers a hybrid between alpha strategies and alternative feta at lower fees, describes his approa

  3. Larry Robbins' hedge fund Glenview buys 1m Tenet Healthcare shares[more]

    Komfie Manalo, Opalesque Asia: Glenview Capital Management said it bought an additional 979,482 shares at Tenet Healthcare Corp valued at $53.80 million, raising its stakes in the healthcare services company to 15.16%, reported

  4. Legal - Grayson’s hedge funds under scrutiny for possible ethics violations, Court rejects hedge fund’s motion to block merger of Samsung affiliates[more]

    Grayson’s hedge funds under scrutiny for possible ethics violations From Freebeacon.com: Rep. Alan Grayson is finding himself in hot water over managing hedge funds that bear his name, actions that are in possible violation of House ethics rules. Sitting members of Congress are prohibite

  5. Hedge funds panic over Greece[more]

    Komfie Manalo, Opalesque Asia: Some investors are in panic mode as Greek Prime Minister Alexis Tsipras announced Sunday night that the banks and the stock market would be closed Monday, said

 

banner