The Economist – In a speech in October, Preet Bharara, federal prosecutor for the Southern District of New York, laid out his plans to root out insider trading, which he compared to a “performance-enhancing drug”. Some of the hedge-fund industry’s top brass may soon stand accused of using what Mr Bharara called “financial steroids”.
On November 22nd the Federal Bureau of Investigation (FBI) raided three hedge funds as part of a sweeping investigation into insider trading that could prove to be the largest that the industry has ever faced.
