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This is -- Imus in the morning.
Good morning everyone the most prominent person indicted in the government's insider trading crackdown goes on trial today.
Jury selection is set to begin in the case against former Goldman Sachs executive rajat cooped up and fox business's Adam Shapiro is -- federal courthouse here Manhattan.
With the previous Adam what are we expecting from this trial today.
Well it's going to be a bit of deja blue -- and you can see behind me the reporters and photographers waiting for a -- that to arrive this will remind you of this team went.
-- Roger -- head of gallium.
Hedge fund was on trial and of course it's his connection -- had hoped that that's going to be discussed during the proceedings here.
This is jury selection that's what we'll get under way today mr.
group that faces five counts of securities fraud one count of conspiracy to but it could.
But the key issue here different than what happened with Roger Roger -- them who was found guilty and sentenced to eleven years.
Is that -- -- there's been no indication as to what his personal gain was.
For alleged insider trading in the government's going to have to show that he had some kind of -- now they will be allowed to play some of those -- Tape recordings from phone conversations but there's only one in which mr.
-- to -- up and mr.
-- are talking.
And there isn't any kind of quid pro -- discussion going on in that discussion.
There's another tape recorded conversation.
In which mr.
Roger rotten is talking with someone else not mr.
-- but some are saying I have a friend on the board of directors at Goldman Sachs and he's given -- some information.
So what the jury will believe regarding that is anyone's guess but those are the issues that are playing mr.
good the faces roughly 25 years in jail if he's convicted.
But again after all of the cases -- the federal government has brought her insider trading roughly.
66 so far.
This is a pretty big one you have a man who used to be on the board of directors.
Goldman Sachs Procter & Gamble was high up at McKinsey the consulting firm.
And again mr.
goofed up his jury selection begins today all eyes are on this proceeding Diane back to you.
-- to hear a live from the courthouse in Manhattan thanks Adam.
Let's take a look at the markets now here in the US -- seeing green arrows across the board all morning Dow futures are now up by 64.
All over in Europe at the G-8 summit leaders expressed their interest in keeping Greece in the eurozone they also pushed for growth policies.
But no new measures were announced still markets -- in the green London's up by 34 Paris is up by eighteen and Frankfurt's up by 57.
Let's take a closer look now what's moving those markets the Dow Jones newswire senior correspondent nick Hastings over in London nick.
We have to poll showing that -- pro bailout parties could when he overall majority in next month's parliamentary elections there.
What kind of impact would that have on the country and the rest of the -- -- if it does happen.
All I think it'll be in steps of the fascinating that because that that would mean that basically Greece's you know -- the press this or who don't like what I see.
And -- decided -- let's stick with the on Euro and -- stick with the bailout policies that -- -- had already been negotiated.
Now we'll be -- -- -- see how the markets react to that and whether or not they've -- pullback as well.
On but I think at the moment we -- a sort of uneasy truce we've had those polls we've also had this also about growth going on.
You know it did the Chinese premier over the weekend with say that they going to be looking at both of both policies to.
Along with G-8 and that's all see -- as relatively positive there obviously but you know.
I think anybody sort of take your bets on all this at the moment would be taking a pretty big bet that's without -- Line on that note about growth after the G-8 summit European leaders are set to -- Wednesday to discuss how.
To stimulate growth in the region what does this mean for austerity efforts are they done -- and now.
That you have hit the nail on the head and how do you actually provide this growth and that is the big question because there's that -- a lot of people who would say well.
And certainly including this includes Germany there idea of stimulating growth is going -- that having structural reforms that basically make those economies.
In the Euro zone peripheral eurozone economies as compared -- As those in Germany.
-- was their labor costs actually have to decline pretty sharply.
Not the other side say well odd idea -- growth is throwing money at the problem on which is very much the -- the US has been taking.
-- -- is a short term perhaps -- Social opposes prop so long term solution.
And why is going to be needed who's gonna get it.
We have absolutely no I guess.
They have come alright nick Hastings -- -- as much is that if you could provide it and thanks so much -- -- what.
Let's take a look at the commodities now the Goldman bouncing around this morning from posited to -- negative territory let's give -- they're doing now we're seeing oil.
Is up by about thirty cents gold -- -- back in the red it's down by about sixty cents right now trading about 1591.
Announced coming up this hour Imus is guests of the Ashley Webster of Fox Business Imus in the morning continues right now you know where to find it here on the Fox Business channel.
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