Insider trading charges: One way to end a long week

SAC Capital portfolio manager Michael Steinberg (C) walks with his lawyers as he leaves federal court after being arraigned on insider trading charges on March 29, 2013 in New York City.

A trader with a high-profile hedge fund was charged today with securities fraud related to insider trading. The hedge fund itself had already agreed to pay the SEC $614 million earlier this month to settle some charges.

"They're paying $600 million in order to get off scot-free, without having to admit to doing any wrong," said Reuters' Felix Salmon.

Meanwhile, arguments are rising in favor of kicking Cyprus out of the eurozone.

"That's what people said about Greece too," said Leigh Gallagher of Fortune magazine. "This question's going to come up again and again the more these crises start happening. And it does prove the euro, way back when it was planned -- we're finding out that maybe you can't have fiscal unity without political unity."

The two also offer their weekend #longreads picks.

Felix Salmon suggests:

Leigh Gallagher picks:

About the author

Kai Ryssdal is the host and senior editor of Marketplace, the most widely heard program on business and the economy in the country.


I agree to American Public Media's Terms and Conditions.
With Generous Support From...

Sustainability Coverage

  • The Kendeda Fund
  • Wealth & Poverty Coverage

  • The Ford Foundation