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More Trouble for Brown University’s Highest-Profile Trustee, Steven Cohen…

… as a judge refuses to stop a big insider trading case against him.

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Trouble? Given Cohen’s utterly shocking market behavior, and the resulting extensive litigation against him which will last for the rest of his life, and given his apparently unassailable position of trust at the top of one of America’s best-known universities, UD begins to think she’s gotten it all wrong. UD begins to think that trustee-selection-wise, a long record of SEC investigation and outraged investor lawsuits is an advertisement for the position of university trustee.

UD‘s not sure why this is. She is a babe in the woods – most of us are – when we’re talking about the kind of money Brown is targeting in targeting Steven Cohen (personal fortune: close to ten billion dollars). Are they thinking in terms of a delicate, sophisticated trade-off involving delicate sophisticated timing? As in – We’ll be able to peel off a couple billion before he has to go to jail. Our PR people will be able to control the PR fallout of our association with him. Or is it far more straightforward? “Insider trading” is a bogus designation essentially describing nothing less than the working reality of all capital market players. Eventually the world will catch up to this truth, and all penalties and investigations of people like Cohen will vanish. Indeed these people will become martyrs, and we’ll be praised for having stayed the course with them.

Margaret Soltan, August 16, 2014 4:12AM
Posted in: trustees trashing the place

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2 Responses to “More Trouble for Brown University’s Highest-Profile Trustee, Steven Cohen…”

  1. MattF Says:

    Money talks. A lot of money talks louder than anything else, including the SEC.

  2. Jack/OH Says:

    “For years, I observed and experienced the [Securities and Exchange Commission] PROTECTING large perpetrators of abuse at the expense of the investors whom the SEC is supposed to protect.” From investment manager David Einhorn’s foreward to Harry Markopolos’s “No One Would Listen”. (My emphasis.)

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