A whole lot of folks were truly delighted this morning to hear that Martin Shkreli was being arrested and hauled off to the pokey. (Did any reports say he'd been "frog-marched?" I've been dying to find out what that looks like.)
He was not arrested because of that deal he did where he acquired ownership of that AIDS drug that some people desperately need and jacked its price up to the stratosphere. That, sadly, is not illegal. Jordan Weissmann explains what the guy was arrested for doing. It surprised me because I didn't think there was anything one could do in the world of hedge funds that was considered unethical, let alone against the law.