Nov 6, 09 | 9:26 AM
BY Michael Wolff
How is it that we get a major insider trading scandal every two decades or so? The last big one, which ultimately ensnarled Michael Milken, the legendary junk bond king, happened in the late eighties. The current one, with a mass of arrests yesterday, threatens the hedge fund industry. It seems reasonable to assume from the intermittent decades of prosecution that this particular sort of financial larceny is quite a rare bird and when it rears its head the Feds pounce....
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