Detail by Detail, Gupta’s Lawyer Decontructs Goldman Testimony

Nader Nazemi

In the battle over the fate of Rajat K. Gupta, the former Goldman Sachs board member on trial on insider trading charges, the line between public and private information is critical.

During his second day questioning of Lloyd Blankfein, Goldman’s chief, Mr. Gupta’s defense lawyer Gary Naftalis worked hard to erase that line. Extremely hard.

From the beginning, it was a slog. Mr. Naftalis presented two reports from esteemed banking analysts who followed Goldman Sachs. The reports were from the summer of 2008, a period when market turmoil was king and the health of the financial system was in jeopardy.



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