Well the Raj trial is over for another week, and while I wouldn’t say it ended on a high note, it certainly ended on a chill note — especially compared to the cross-examination squabbling that characterised Monday through Wednesday.
The sun was streaming through the windows; a courtroom security guard took a nap; the security guards downstairs took their time…
Here are the highlights from Day 8 of the Raj insider trading show:
- BJ Kang’s handwritten note and my longsighted-ness: Walking into the courtroom, I passed Special FBI agent BJ Kang at the precise moment he passed a piece of paper to one of their court officials and said: “Here’s the schedule for next week. It’s subject to change.” Damn my poor eyesight for not being able to focus on a single name.
- Juror lost: I didn’t notice it until someone asked me in the elevator, “they lost a juror?” I didn’t know. “One of the seats in the back row is empty.” Sure enough, when I went back in, the seat in the top right corner of the jury box was unfilled. Don’t know why.
- Trial Threads: Dowd was wearing a yellow tie. Raj was wearing a charcoal suit and green tie.
- Green Day: I literally have written in my notes: “green — colour of the day!!” I thought it was some sort of incredible coincidence that so many people were clothed or accesorized in green: a spiffily-dressed lawyer in the front row wore an emerald tie and striped green socks; beside him, a pretty brunette with her hair in a bun wore a olive shawl; beside her a man wore an olivey, greeny mustard jacket. In the third row, two people clad in army green. The court notary wore a green tie. BJ Kang wore a green and navy striped tie. Even RAJ was sporting an jade-coloured tie. And I didn’t realise that it was all in celebration of St. Patrick’s Day, until I voiced my amazement in the elevator at the prevalence of green in the court that day, and was told why. Idiot.
- Top-Secret Deal Monikers: So far the running tally of deals with secret, Mission-Impossible-esque codenames is 2. We heard earlier this week about a secret AMD deal code-named “Supernova,” then “Go Big.” Then yesterday, we heard about PeopleSupport’s secret merger with Essar. In that deal, Essar was code-named “Easter.” Another interested party was code-named “Ivy.”
- Moody’s Witness: At the end of the day, Moody’s Senior Analyst and Senior Credit Officer, Margaret Holloway, took the stand. There was a lot of note-taking in the jury box when she explained how Moody’s rates and analyses a bond.
- Andrew Michaelson debuts: Michaelson is a government lawyer who’s “on loan” from the SEC just for the case. And he made his examination debut late yesterday. He wore a black suit, with a white shirt, and has light brown hair. He was not as captivating a speaker as his two comrades, Streeter and Brodsky.
- Galleon Style: Raj’s trademark moustache was also, at least at one time, sported by another Galleon exec, Krish Panu… one more thick moustache on a Galleon crew-member, and we have enough for a style trend piece.
- A lawyer teaches another lawyer a thing or too about speculation: During the cross examination of former PeopleSupport counsel Peter Pham, Terence Lyman went with a line of reasoning that a certain event could trigger a investor to lose of gain money in the market. To which Pham basically said, well you’re really just speculating. Which is funny. Because usually it’s Lyman whose job it is to tell someone they’re speculating.
- Terence Lyman’s Lilt: I found myself drifting into a meditative state listening to Lyman’s cross-examination yesterday. His voice is kind of raspy — almost soothing — and has a predictive lilt, and he ends his sentences in only two words: Right? or Correct? It’s almost like the end of a yoga class.
- Old media vs. New Media: During questioning, federal prosecutor Reed Brodsky offered various news articles up as evidence to help explain that rumours in the news aren’t the same thing as concrete information from the horses mouth (aka, an executive that has concrete, confidential information about an impending merger). He offered one article, from Bloomberg. And then offered another from the-name-of-some-publication “dot com.” And asked the witness which article was more reliable, having both reported on the same subject. He totally emphasised the dot-com as if it was a dirty word he was loathe to articulate. For obvious reasons, I was momentarily offended. Until the witness responded: “I don’t think one is more reliable than the other.” And I realised Brod doesn’t have it in for online news, he was just trying to prove a point.
- Preet Bharara passes by: On the courthouse steps, madly typing to Courtney with an update before hearing back up to the courtroom, Preet bounded up the stairs…
- Dowd displeased: After the jury left at 5pm, Judge Holwell asked the defence and prosecution if they had any issues concerning moving ahead next week. The government said, “No, your honour.” The defence, said, “No, your honour,” after which Dowd, who was standing behind Terence Lyman next to Raj, raised his hands in a WHAT THE motion, and then leaned forward to question Terence Lyman. I gauged that Lyman said something like — “they told us, or they’ll tell us” and pointed at the prosecution. Damn my normal hearing for not being able to hear whispers 15 feet away (and damn my poor eyesight for not being able to read lips).
- Raj’s mystery friend: Remember the tall man in the red tie, who we know has some connection to Raj, but we don’t know what it is? Well, at the end of the trial yesterday he walked up to Raj and they shook hands and chatted and Raj cracked a big smile when he walked over. WHO IS HE???!!
Don’t miss our earlier recaps:
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.