NEW YORK — Former Wall Street Journal reporter R. Foster Winans testified Wednesday that he knew that, if his editors had found out that he was leaking information from his columns, he would have lost his job--but he didn't think he would ever get caught.
Winans, 36, has admitted providing advance information about the Journal's Heard on the Street stock-market column, which he wrote, to stockbroker Peter N. Brant. He has said that he did not know that he was breaking the law.
The journalist, his roommate, David Carpenter, and Kenneth P. Felis, Brant's colleague at Kidder, Peabody & Co., are being tried on conspiracy and securities-fraud charges for trading stocks based on Winans' information. Brant has pleaded guilty and is testifying for the government.
"It was my assumption that I would have been fired," Winans said in answer to a question by his attorney, Don Buchwald. But, he added, "I had no expectation that the Wall Street Journal would ever learn of my relationship with Mr. Brant."