We're accustomed to closing arguments that are brief summations of the case laid before the jury. But the prosecution in the Raj Rajaratnam trial took a different tack. It decided on a lengthy approach, replaying a lot of the wiretap evidence that seems to show Rajaratnam in a bad light. He stands accused of massive insider trading and faces many years in prison if convicted.

Prosecutor Reed Brodsky played what he called "devastating proof of the defendant's guilt" in the form of 40 wiretaps, which he said barely scratch the surface, according to the New York Times. He invited the jury to listen to more of the evidence as they deliberate.

The prosecution's closing argument took up most of Wednesday. The defense will take its shot afterwards. After a closing rebuttal, the case will then go to the jury.

One issue that may or may not be discussed in the defense's closing argument concerns a critical witness, Rajaratnam's friend Richard Schutte. We noted that the defense was putting a lot on the line by relying so much on him as a witness. The talk now is that the defense erred by not raising the fact that Rajaratnam had invested $25 million in Schutt'e hedge fund after he was arrested. By not addressing the issue, the defense let the prosecution get a lot of mileage out of it during its cross examination.

It's hard to handicap how the jury will interpret all of this. But some pundits are giving the edge to the prosecution. If the prosecution prevails, the wiretaps will no doubt be the reason.

For more:
- here's a New York Times article

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