Reginal Thomas
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Judgement Day For Steven Cohen's SAC Capital Advisors


Steven A. Cohen's SAC Capital Advisors has agreed to plead guilty to insider trading and will pay a $1.2 billion penalty. Aside from the record setting fine SAC is the first large Wall Street firm to confess to criminal conduct in over 20 years. As a result of the guilty plea SAC will end its business of managing money for outside investors, though they will mostly likely continue to manage Cohen's reported $9 billion fortune. 

The justice department has been on a bit of a tear later on this week, JP Morgan Chase is expected to finalize their $13 billion settlement with the government over the bank mortgage practices.