“In any case, no drug, not even alcohol, causes the fundamental ills of society. If we look for the source of our problems, we shouldn't test people for drugs, we should test them for stupidity, ignorance, greed and love of power” (PJ O'Rourke). The Galleon Group is precisely a story that emanates from some members the lust for power consumed by the essence of greed. Founded by Raj Rajaratnam and other partners in 1997, the Galleon Group quickly emerged with considerable wealth and incredible success as one of the largest hedge fund management firms in the world. Managing more than seven billion dollars in a series of funds specializing in the healthcare and technology sectors, the New York-based firm was on its way to stardom. Unfortunately, the company became the center of a catastrophic insider trading scandal in 2009 that ultimately saw the demise of the company and the arrest of numerous greedy individuals. The Securities Exchange Act of 1934 oversees the regulation and registration of securities exchanges, brokers, dealers and national securities associations. Additionally, the law authorizes the Securities and Exchange Commission (SEC) to engage in market inspections to thwart practices such as fraud, market manipulation, and misrepresentation. Additionally, Section 10(b) and SEC Rule 10b – 5 address the area most associated with this particular case known as insider trading. Whether legal or illegal, insider trading occurs when individuals obtain “insider information” about a publicly traded company's strategy and then buy and sell securities based on this knowledge. Legally, corporate insiders are free to buy and sell stock in their company... middle of paper... com. Bloomberg, May 11, 2011. Web. March 1, 2014. Hurtado, Patricia. "Kumar gets probation for his cooperation in the galleon trial." Bloomberg.com. Bloomberg, July 20, 2012. Web. March 1, 2014. Miller, Roger, and Frank Cross. The legal context of companies. Mason, OH: South Western, 2011. Print.O'Rourke, P.J. "Quotes on Greed." Clever quote. Xplore and Web. February 27, 2014. Protest, Ben. "Chiesi sentenced to 30 months for the galleon case". DealBook Chiesi sentenced to 30 months for comments on the Galeone case. The New York Times, July 20, 2011. Web. March 1, 2014. Rothfeld, Michael. “Gupta gets two years for leaking inside information.” The Wall Street Journal. Dow Jones & Company, October 25, 2012. Web. March 29, 2014. “Ship of Scoundrels.” The economist. The Economist newspaper, 1 June 2013. Web. 01 March 2014. Sumner, William Graham. “Quotes About Greed.” Clever quote. Xplore and Web. February 27. 2014.