Just as the banker who appointed Corzine to head Goldman Sachs in 1994, believed he was entitled to buy Goldman shares in late 2008 even if he was privy to inside information as a Goldman director and chairman of the New York Federal Reserve Bank in charge of overseeing Goldman and saving its existence from a run on the bank.
The wiretaps were particularly damning for the defense as Rajaratnam is heard discussing inside information he received from a Goldman Sachs director, Rajat Gupta, about a potential acquisition the firm was expected to make.