Rajat Gupta was one of the wealthiest and most successful men in America and an icon of the Indian-American community. Today, he faces two years in prison for insider trading, convicted of passing corporate secrets to his billionaire friend and Galleon Group founder Raj Rajaratnam.
Gupta was already a wealthy man; what was the motive for his crime? In The Billionaire's Apprentice:The Rise of the Indian-American Elite and the Fall of the Galleon Hedge Fund, journalist Anita Raghavan tries to answer that question.
The federal probe of a hugely successful hedge fund may have investors ready to pull out much of their money. SAC Capital is under investigation for insider trading. Several published reports indicate outside investors are worried about that investigation and whether it will touch Steven Cohen, the firm's founder.
The idea behind microcredit is that if you give poor people in developing countries access to credit, the ability to borrow, they will use that money to start or expand businesses which will eventually help them pull themselves out of poverty. But ever since these programs boomed in the early 2000's, questions have been raised about how effective they are.