LLOYD BLANKFEIN AGREES TO TESTIFY IN GALLEON TRIAL

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The decision was presumably made after hearing about former Goldman Sachs board member, Rajat Gupta, calling up Raj Rajaratnam with earnings information 23 seconds after getting it from GS management. NOBODY PLAYS LLOYD LIKE THAT!

The spectacle of Mr. Blankfein taking the stand in the criminal trial is sure to attract attention to the already high-stakes affair. Prosecutors and the defense are pulling out the stops in a six-week trial, set to start Tuesday. The stakes are significant for Mr. Rajaratnam and the government, which has been aggressively pursuing insider trading cases in the 19-month tenure of Manhattan U.S. Attorney Preet Bharara. Though Mr. Blankfein has agreed to testify, he isn't guaranteed to appear. He could fall off the agenda, depending on how the trial proceeds.

1) This is happen. 2) Rajat Gupta has clearly made it onto LB's personal shit list so regardless of whether or not he takes the stand, Gupta should consider getting out of town and fast. Unless, he wants to see what Lucas vP looks like an executioner's mask on.

Blankfein Agrees To Testify [WSJ]

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The Universe Has Good News And Less Good News For Rajat Gupta

The less good news is that a jury found the former McKinsey executive guilty on three counts of securities fraud and one count of conspiracy for passing material non-public information to his friend*, convicted insider trader Raj Rajaratnam. The good news: 1. Rajat could go to jail for twenty years but probably won't ("Gupta faces up to 20 years in prison on each of the fraud charges and up to five years for the conspiracy charge. But his sentence is likely to be significantly lower under federal guidelines.") 2. Sentencing is scheduled for October 18 so he's got the whole summer and then some into a Zen place about going to prison. Also! Plenty of time to do all those things he was too busy for when he was working. This is gonna be his time. Time to taste the fruits and let the juices drip down his chin. The summer of Rajat! Gupta Found Guilty Of Insider Trading [WSJ] *Friend Rajat's ass.