There’s a different set of rules for the super-rich than for you and me, and one of the reasons they stay super-rich is because of those rules:
One of the directors of Goldman Sachs Group Inc. (GS: News ) told a hedge-fund billionaire about a $5 billion investment by Warren Buffett’s Berkshire Hathaway Inc. (BRKa: News ) before a public announcement was made, the Wall Street Journal reported citing a person close to the situation.
The report noted that the Government suspects that Goldman Director told Galleon of Berkshire’s 2008 investment. The report specified that the information came from board member Rajat Gupta and that federal prosecutors has notified Gupta in a letter that they had intercepted phone conversations between him and Galleon’s Rajaratnam.
Apparently there are still a few SEC members working and not surfing porn during office hours.