Chuck Grassley's Got A Pitchfork And Its Prongs Are Pointed Toward Stamford, Connecticut

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The senator wants to be kept in the loop re any 'suspicious trading' at SAC Capital (he doesn't know of any, but in case anything comes up in the files) and also has questions just generally about what life is like there.

Iowa Sen. Charles Grassley, the top Republican on the Senate Judiciary Committee, sent a letter to Wall Street's major self-regulatory organization asking for any reports reflecting "suspicious trading" involving SAC Capital that it had received from exchanges since 2000. "The use of nonpublic information for insider trading purposes is sadly alive and well in our nation's financial markets," Sen. Grassley wrote to the Financial Industry Regulatory Authority. "More must be done to investigate and bring these criminals to justice." In the letter, which was dated April 26 and released Friday, Sen. Grassley cited recent insider-trading cases, including charges against two former SAC fund managers, writing: "While SAC Capital itself has not been charged, these allegations raise serious questions about the corporate culture at SAC Capital and undercut investor confidence in a fair and balanced playing field."

[WSJ]

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