A three-year insider-trading investigation shifted into high gear Monday as government agents raided the offices of three large hedge funds, sending shock waves through the financial world.
The raids helped push the Dow Jones Industrial Average down about 150 points before a rally left the index down 24.97 points. Financial stocks were hit, with Goldman Sachs Group Inc. down 3.4% following news that investigators also were examining whether Goldman bankers had leaked information about deals. Goldman declined to comment.
The Dow recovered, but it's interesting to see that the prospect of handcuffs and perp walks can still scare the hedge fundies and banksters.