Il lato oscuro della finanza

CHICAGO – Se pensate che la reputazione del settore finanziario americano abbia toccato il fondo, vi sbagliate. È appena iniziato il processo per insider trading contro Raj Rajaratnam, il fondatore miliardario di un hedge fund. Si tratta di una denuncia particolarmente scioccante perché svela il lato corrotto del mondo finanziario.

Il processo di Rajaratnam è eccezionale per diversi aspetti. Innanzitutto, è uno dei pochi casi di insider trading mai intentato contro un gestore professionista di hedge fund. Storicamente, i procuratori statali e federali hanno sempre preferito perseguire trader “occasionali”, che facilmente individuabili.

Un classico esempio può essere il seguente: una piccola banca italiana ricevette da qualcuno, che non aveva mai condotto contrattazioni, un ampio ordine di azioni US Shoe poco prima che l’azienda venisse acquisita dal marchio Luxottica; in questo caso, non fu difficile sentir puzza di bruciato. In altre parole, dal momento che i trader occasionali sono rari, è palese trovare il nesso di causalità tra le operazioni di trading e una soffiata illegale, mentre è difficile identificare un problema quando qualcuno fa centinaia di contrattazioni al giorno.

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