That was one of the conversations played by the prosecution in court today, Day 3 of the Rajaratnam trial. Here was another:

“We know because one of our guys is on the board,” Rajaratnam told his friend, Rajiv Goel, during an Oct. 7, 2008, call. The two men are discussing the acquisition of PeopleSupport Inc. and Rajaratnam is telling Goel that he bought 30,000 shares for Goel’s account, according to the tape.

Incriminating or completely harmless? The government is hoping the jury’s reaction will lean toward the former, but according to the Rajaratnam defense team, the exchange was completely “harmless.” Nothing to see here. Continue reading »