You're watching...
Former FBI agent Mark Rossini argues Fed's are intensifying their search for Steve Cohen's associate on the firm's inner workings.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
-- -- -- So outbreak back against -- -- -- you -- -- -- -- the Fed's insider trading about nice to have facing capital and its honcho Steve -- More say that is according to try -- -- next guest is former FBI agent -- -- -- take -- away guys.
I I will say this mark -- he was the first person I know.
Who's laid out pretty clear who's here in the Fox Business Network.
That Steve Cohen was indeed a target a substantial target right exactly but the government's investigation we took a little flak for that.
It turns out to be guys you know -- I believe the betting now everybody's caught up he is a target even.
Let's get into the Alfred figure -- what is the -- it was that means it.
Butler his trusted.
Exactly -- -- before there was -- there was there was -- right and the reason is that you have to have a confidant.
Look any criminal organization.
John Gotti and -- is Alfa cannot say that as he sees a -- and -- are promising to say it is great position because you're.
Every target a nervous -- allegation it's an investigation past to have a confidant yes John Gotti has saved the bull.
What's on the lot and -- -- -- often be.
You always have to look for that person you -- -- trusted confidant that can give you -- key and you're saying that the FBI is doing that right now it is my belief.
That mr.
Steinberg is the Alfred of mr.
okay let's break that record in -- society is Michael Steinberg right prominent SEC -- -- portfolio -- from 1997 it.
He's been put on leave and he's been named apparently an unindicted -- according to reports and and which means what look -- medical which there have been a lot of things but hardly -- in the Justice Department had -- died in the united indicted what you put a pale over that person could say anything we think you knew some of the bad political or not.
It's chess game here.
What's going through now -- minus -- mine.
In my indicted is he gonna get indicted you can do utility -- -- be indicted of course you can be.
But he's not indicted she's not induce let's say to be arrested and talk.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Now it's kind of like ambiguous what's the government gonna do the must -- social he's recession kind of like from the grand jury he's kind of in the cooler right now.
What he's sitting still wing and -- fewer mr.
Cohen and yes he Steinberg -- your behalf you're wondering what's going through his -- -- -- not.
Curious about it -- we do -- Cymer was a government to.
-- you I think let's let's just frame this for the -- you believe Michael Steinberg portfolio manager put on leave from -- -- see you believe this is a big a big sort of step in the feds -- the Fed's continuing investigation.
Of Steve Cohen and his potential in the -- it as an asset and weather and whether he committed insider trade.
It is a massive step because -- the case all along they've been arresting and prosecuting all the people that -- -- -- going up the chain.
In my optic and people -- talking Justice Department Steinberg is the last stop on the train for say so if they're in they're gonna give up you think well they won't give up.
I think -- a but what we'll get a best might -- might get Colson.
Conscious avoidance if they can't get Steinberg to give that piece to prove that Cohn actually knew.
Had knowledge aforethought that the unit is if missionaries and it admitted it depends who committed and traded on it that he knew was wrong.
Perhaps perhaps conscious avoidance would be the choice you get a.
Meany mean that Steve Cohen knew that may or and destroy took a look at made volatility -- -- to back off which is this is not -- of -- so we should say he is denied any wrong doing -- well.
Mr.
Steinberg has not been indicted by -- neither have been charged but so -- the -- crime but.
What we do knows the people around what people SEC capital worked there have been charges investigation you're saying that one.
One tactic -- is let's go.
And and say Steve -- you should've known stuff you should have -- and that's conscious avoidance exactly correct criminal should have known this criminal courts to goodwill gesture can go to jail for that issue -- It's received so I wouldn't time we have left shortly I think that's -- and I'll say this viewer.
This guy called the first about Steve Cohen be and be essential part of this investigation time we have left.
As you know this investigation is being done by the FBI and and the US attorney's office like who's now run by getting -- -- -- who's essentially in many ways handed the case.
By the FBI which started this during the bush years you can.
Arm free -- not been bashful about the press although he'll never talk to me.
The effect -- a broad retreat just tell me what is his political.
Aspirations wealthy individuals I've spoken to a department justice in -- -- -- justice for prosecutors current prosecutors.
Say that he -- -- aspirations perhaps to be the attorney general replacing -- Eric Holder.
It is settled of course -- if if Obama wins then perhaps print would be person take that job over what he's probably one of the most high uphold high profile.
Eight -- US attorneys in the country.
He's in the news almost every single that we support at the have you the Manhattan of course they had US attorney's office is the premier white -- it is and it is dishonest of New York is really believe the -- battleground for the major cases in this country whether it's terrorism -- collar crime organized crime.
The US attorney here is probably -- -- most powerful and US attorneys are in the country.
And -- doing a fantastic job at promoting the office.
-- himself and so so I would not doubt if you Indian law ninety in a very -- ten -- is use and Steve Cohen said to be to be.
The attorney general I think he's using every case and he can get his hands on to move forward looking -- we're gonna -- -- right there guys back.
