It's the Gallows for Galleon

Did you really think accused insider trader Raj Raj had any shot of keeping that hedge fund of his alive?

Today Raj Rajaratnam told investors to brace for the death of his fund. Also revealed was Raj's inability to trade very well on said alleged insider info: Supposedly, he lost lost a bundle while moving on at least some of the illegal tips.

Perhaps trumping that news is this (from the king of financial fraud): While they were blowing billions of other people's dough, Bernie "the Ponz" Madoff and Company were allegedly doing mountains of blow -- so much of it, in fact, that in this suit, filed today, the Ponz's offices were referred to as the "North Pole."