Maybe we're just gettin' old, but kids these days are doing things earlier and earlier. Used to be, you didn't get arrested for insider trading till you were in your mid 40s or so. Now it's 29, 23 even:
Stanislav Shpigelman, 23, an analyst with Merrill's merger and acquisition division, gave secret information on about six pending takeovers to Eugene Plotkin, 26, an associate at Goldman's fixed-income research unit, and former Goldman analyst David Pajcin, 29, according to a complaint by U.S. Attorney Michael J. Garcia unsealed today. Pajcin, previously arrested for insider trading, is cooperating with Garcia's office.
U.S. Attorney Garcia expresses actual surprise that greed still exists:
Noting that the merger market is heating up and that there are "still some people out there motivated by greed'' he said that "memories of the industry in some cases seem to be remarkably short.''
We'd suggest that it's not so much that the accused have short memories. It's that when Milken was arrested in '88, they were 5, 8 and 11 years old, respectively.
Merrill, Goldman Workers Arrested for Insider Trading [Bloomberg]