I gave both lawyers a chance to refute anything in the Project and Senate reports and asked West to explain how he landed at Latham & Watkins, but heard nothing.
The sordid story does have a happy ending — of sorts. Investigations by two Senate committees and the agency’s own internal watchdog vindicated Aguirre and slammed the securities commission for not pursuing Mack diligently. Working on his own, Aguirre gave more insider trading evidence on Pequot to the red-faced securities agency. Reluctantly, it banned Samberg from the business, fined him and Pequot $28 million (a pittance since Samberg was worth $15 billion), and paid Aguirre $755,000 in a lawsuit settlement. Pequot closed down. But Mack, White, Berger, and West are doing swimmingly. And so, unfortunately, is the Securities and Exchange Commission — even after Friday the 13th.