Friday, December 4, 2009

Does B.J. Kang Want to Be King Kang of New York?

There's no better stepping stone to Gracie Mansion than busting, in a high profile fashion, a few Wall Street high rollers. It's the Giuliani formula and Eliot Spitzer polished the formula to get to New York's governorship (Before, ahem, a few personal problems ejected him from that post).So always watch the papers for who is getting the props for doing Wall Street busts and you may have a clue as to who may be the next mayor of the Big Apple.

The newest suspect is none other than FBI Special Agent B. J. Kang. Reuters is doing a profile on him:

When Bernie Madoff, who engineered history's biggest Ponzi scheme, was arrested, FBI Special Agent Kang was right at his side. And less than a year later, there was Kang again, in a "perp walk," shuffling alongside a handcuffed Raj Rajaratnam, the former hedge fund star at Galleon accused of earning millions off illegally obtained stock tips.

The question on the minds of investors, managers and lawyers inside and outside the hedge fund industry today is, who's next?

Of course, no one knows for sure. But court documents and interviews with many industry sources familiar with the case show that agent Kang may be focusing in on Steven A. Cohen and his $12.9 billion SAC Capital Ad visors, L.P...
Reuters curiously notes:

Kang avoids the limelight and refused to be interviewed for this story. The FBI wouldn't even disclose biographical information about him, including his age.
This, of course, in the same breath that Reuters tell us he personally does the perp walks. Oh yeah, real low profile.

But how impressive is his record really? Bernie Madoff was a walk in. And Raj Rajaratnam is being lassoed for what many consider to not even be a crime. The same would hold for Steve Cohen. If Kang wants me to believe he is the real King Kang ready to take on the Empire State building and the rest of NYC, he is going to have to go after some real criminals. Until then, this is just a real bad movie I have seen much too many times before.


  1. So what kind of "real criminals" are you referring to?

  2. Doesn't the political success of Wall Street crimefighters reveal govt as an anti-competitive scam? So, your competition gets a little too big to handle, you send some hot tips to the local prosecutor who sics the "perp" in return for you helping to get him elected, then when he's in power you know you have free reign to run around doing all manner of shady business because he's got your back (until someone can pull the same move on you, of course).

    Live by the sword, die by the sword. Elliott Broidy just figured that game out, didn't he?

  3. Hey -

    Did you see this

    Since it's on Dec 14 and since you used the term, Dec 4, looks like some people are reading you...

    (or great minds think alike..
    but knowing the MSM - not...)

  4. haha stupid bj kang

  5. bj kang is such an idiot. piece of crap agent.