Louis Proyect: The Unrepentant Marxist

August 2, 2013

The Fall of a Predator

Filed under: capitalist pig — louisproyect @ 12:37 pm

Steven A. Cohen

Counterpunch Weekend Edition August 2-4, 2013
Steven A. Cohen and the Perks of Being Rich and Connected

The Fall of a Predator

by LOUIS PROYECT

On July 25th SAC Capital, a hedge fund founded and run by Steven A. Cohen, was indicted for insider trading. Up until now, Cohen has managed to avoid being hauled off perp-style with his jacket over his head. Even after a number of his underlings began serving time, Cohen continued to enjoy the benefits of what is obviously a criminal enterprise. With all proportions guarded, his status reminds me of how holocaust deniers can make the case for Hitler even to this day. Where is there a document with Der Fuhrer ordering the gassing of Jews? By the same token, where is there an email indicating Cohen’s part in what by all admissions is standard operating practice in the financial industry? What do you think all those country clubs are for? To improve Joe Moneybags’s golf game? Don’t be silly. It is to pick up inside information through small talk that is never transcribed.

SAC Capital first came under investigation ten years ago when Holly B. Becker, a Lehman Brothers stock analyst, tipped off her husband Michael J. Zimmerman, who worked for Cohen, about Amazon. What? You expected them to not discuss such matters under the sheets? If you can’t tell your significant other about some hot tip during late night pillow talk, what good is a marriage that was reported on in the Sunday NY Times Style section? Ironically Holly told Michael that SAC should short Amazon Inc. because it was not a viable corporation and had no future. She should have gotten a refund from Wharton, or wherever she got an MBA from, for not knowing which way the wind was blowing.

full: http://www.counterpunch.org/2013/08/02/the-fall-of-a-predator/

2 Comments »

  1. I guess, Louis, you and I will never agree on such left predator-comedians as Pham Binh. But your last two blogs, on Catskills comedians and this one were terrific.

    David Berger

    Comment by audradavid@aol.com — August 2, 2013 @ 12:54 pm

  2. Nice piece on this clown Cohen, But I also loved the comments on Barbara Kruger’s art piece as ” “anti-capitalist” work of art, being . . . ‘Daring’, and ” I realized that Kruger had about as much effect on bourgeois society as a potted plant”. Funny

    Comment by joseph — August 3, 2013 @ 9:37 pm


RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Blog at WordPress.com.

%d bloggers like this: