Hedge fund fraud

Brooke Masters of the Washington Post has an article ("Tipster Set Fund Scandal Snowballing") about how a series of "drop a dime" calls to Eliot Spitzer's office resulted in an investigation of the mutual funds industry, and related hedge funds. The tipster, Noreen Harrington, a former Goldman Sachs trader, lifted the covers on after-hours trading and other market-timing tactics, and blew the whistle. It's a very interesting story, and it's told in language that non-traders can understand. Read the article here.