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Raj Rajaratnam From Kirsten Bischoff, Opalesque New York:

For all the clamoring for transparency within the financial industry, it is little wonder that firms are hesitant to branch out into new forms of communication, especially when the ones that we’ve thought we’ve gotten used to turn against us:

• The Federal case against Raj Rajaratnam in the Galleon trial rested largely on phone and email communications with one witness throwing away a cell phone out of worry against holding evidence that might be used against them.

• This week mutual fund Janus handed over instant messages between employees and expert network company Primary Global for US Prosecutors to look at. The firm "has been assured" that it is not the target of an investigation, but few would want to be in their place handing over internal conversations that tend to be casual in nature. A leak of regrettable, off the cuff remarks made via instant messaging in this climate could do major damage to any financial firm.

• Much of ex-Goldman banker Fabrice Tourre’s woes were driven by his casual treatment of email conversations, along with an email hacking done by the NY Times (the ethicality of which has been ......................

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