Circle of Friends, Charles Gasparino
Circle of Friends, Charles Gasparino
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Circle of Friends
The Massive Federal Crackdown on Inside Trading---and Why the Markets Always Work Against the Little Guy

Author: Charles Gasparino

Narrator: Pete Larkin

Unabridged: 11 hr 22 min

Format: Digital Audiobook Download

Publisher: HarperAudio

Published: 07/02/2013


Synopsis

The bestselling author of The Sellout tells the explosive story of the government’s crackdown on insider-trading networks—an investigation that has already racked up more than 60 convictions.In Circle of Friends, award-winning journalist Charles Gasparino—one of Wall Street's most knowledgeable observers—follows government investigators and prosecutors as they pursue one of the most aggressive and broad-reaching series of insider-trading cases in the nation's history. A richly textured page-turner of investigative journalism based on extensive reporting, Circle of Friends chronicles the massive federal crackdown that has already put some of the biggest names on Wall Street behind bars, including Raj Rajaratnam, founder of the Galleon Group, and Rajat Gupta, a former CEO of consulting giant McKinsey & Co. Other similarly sized targets are still waiting nervously, including the biggest one of them all—financial impresario Steve Cohen of SAC Capital, the giant hedge fund that has confounded regulators for years by cranking out a steady stream of market-busting returns.Gasparino goes behind the headlines to reveal how the government makes its case, using every tool at its disposal—and at great expense to taxpayers—to supposedly make the investing world safer for average Americans. Gasparino asks why federal officials are so eager to prosecute these cases: What is the real damage to individuals? Do average investors really care? He explores why insider trading is all the rage these days when the U.S. government has failed to bring a single criminal case against the culprits who caused the 2008 financial crisis. Circle of Friends is not a defense of insider trading, but it does offer an account of the politics of Wall Street crime fighting, revealing the behind-the-scenes ambitions that motivate headlines and burnish political careers. A riveting work of narrative nonfiction, as engrossing and explosive as fictional thrillers of the finest magnitude, Circle of Friends is a wakeup call to the investing public.

About Charles Gasparino

Charles Gasparino is a senior correspondent for the Fox Business Network and the Fox News Channel, where he reports on major developments in the world of finance and politics. A former writer for the Wall Street Journal and Newsweek, he has also served as a columnist for the New York Post and The Huffington Post as well as a contributor to The Daily Beast, New York Magazine, and Forbes. Gasparino is a recipient of numerous business journalism awards, including the prestigious Investigative Reporters and Editors Award for The Sellout. His other noteworthy books include Blood on the Street and King of the Club.


Reviews

Goodreads review by Michael on January 30, 2021

This is an interesting read. Well researched, well sourced. in my view, the key point in Mr Gasparino's book was the idea of a cost-benefit analysis - the cost of the investigation against the return on that investment. I don't think it is clear that insider trading pursuit and prosecution is necess......more

Goodreads review by Oliver on September 16, 2013

I thought it was a good book and a decent read. Mr. Gasparino did a good job of tracing all the events, which was not an easy thing to do given the number of people involved in the Galleon insider trading scandal. Having said this, there were also things I did not like that much about the book. First......more

Goodreads review by Joseph on May 14, 2015

A serviceable account of the personalities and events surrounding the recent convictions of Raj Rajaratnam, Rajat Gupta and many others, along with the current government focus on Steve Cohen from SAC Capital. The book reads like an informative newspaper article but unfortunately doesn't envelope th......more

Goodreads review by Jennifer on October 19, 2013

I'm going to assume that Gasparino didn't add the subtitle on this book, because a big part of his thesis is that insider trading isn't all that harmful to markets, especially when compared with mortgage fraud and other issues in modern financial systems. While I kinda-sorta see his point, the insid......more

Goodreads review by Andrew on September 04, 2013

I have to say for my first foray into Charlie Gasparino books I was impressed. CG can always be a tad blow hardy and kisses many sources ass too much, however in this case he did a good job describing how the Late 00's Insider Trading cases were cracked, tracked and prosecuted. Most surprising of......more