We’re having a little debate here this morning about whether hedge-fund billionaire Raj Rajaratnam will be convicted of insider trading.Having read our coverage of the trial, there’s not a doubt in my mind that he will be convicted. The distinctions the defence team is trying to draw between “confidential” information and “material non-public” information seem preposterous. How on earth could important confidential information from a Goldman board member not be material?
One of our two editors who have actually attended the trial, however, Courtney Comstock, thinks that the defence is doing is good job of impeaching witnesses and neutralising the evidence. As of this date, she thinks Raj will walk.
Our other editor who has attended the trial, Katya Wachtel, thinks the government’s case is persuasive and that Raj is toast.
Obviously, the defence hasn’t even had its turn yet, so we all may change our minds before the verdict is delivered. But we figured now was a good time to take a straw poll. Weigh in below.