The 47-year-old Blodget, the subject of a recent New Yorker profile by author Ken Auletta, was barred from working on Wall Street after he settled claims with the Securities and Exchange Commission in 2003. The year before, Eliot Spitzer, then the attorney general of New York, accused Blodget of publishing “buy” and “sell” ratings on stocks to help win investment-banking business.
Amazon and Jeff Bezos are up to other things, too.
Earning a reported $600 million cloud-computing contract with the CIA.
Recovering Apollo 11’s huge Saturn engines from the ocean bottom.
Now, investing $5 million in Blodget, who said:
“Ten years ago, I got what amounted to a dishonorable discharge from the industry, and I’ve always been ashamed of that,” he told Auletta. “At some point, if it seems appropriate, I would like to explore the possibility of being reinstated.”
Business Insider will regularly disclose Bezo’s investment.
To avoid the appearance of favoritism.
Very interesting business, Amazon, Bezos, Blodget.
Keep an investor’s eye on them. These three leaders are cooking up something.
Call it an outsider’s view.