AMD's CEO: What he leaked to Galleon

Advanced Micro Devices (AMD)'s former CEO, Hector Ruiz, allegedly leaked details of a major restructuring to a hedge fund. But I was even more surprised to learn the details of what Ruiz allegedly told New Castle's Danielle Chiesi, the former Bear Stearns hedge fund executive -- details which she passed along to Raj Rajaratnam, the head of Galleon Group, the one-time $3.7 billion hedge fund, who's been accused of insider trading and is now out of prison on $100 million bail.

Before getting into the details of what Ruiz leaked, another amazing report came out on the hundreds of millions that Galleon paid banks for so-called "market color." FT.com reports that Galleon paid banks like Goldman Sachs Group (GS) and Morgan Stanley (MS) a total of $250 million in exchange for information about big buyers or sellers of a security (I wrote about that here). This information is treated differently by insider trading rules because that data is not provided by corporate executives.