Raj Rajaratnam’s lawyer, John Dowd, took the stage in Federal court yesterday to explain to the judge and jury on the hedge fund manager’s trial for insider trading why they should disregard a lot of what they’re going to hear in the upcoming wiretaps.
Dowd phrased it like an apology to the jury when he admitted that during the course of the 2-3 month long trial, they will hear unpleasant, sometimes offensive phone calls between Raj and his brothers, RK and Rengan Rajaratnam.
Dowd told the jurors that, just because these calls might sound worse than “talk in an NFL locker room,” that does not constitute insider trading.
We think we speak for everyone here when we say, no apology necessary, Dowd!
We can’t wait to hear what kind of talk constitutes something that sounds worse than a NFL locker room. Listening to even the G-rated wiretaps is highly enjoyable, and everyone’s very excited about what’s to come.
Then Dowd told his audience to, when they judge the locker room talk, “think of your own conversations,” but prejudging from the looks of them, we doubt most of the people on the jury can relate to having conversations with a VP from Clorox (RK) or the founder of hedge fund (Rengan) — the judge already got rid of the sole jury member who would know what that’s like.